Cutting the dividend to 1 cent was a very poor decision by Culp. All the retail investors have sold out and only the shorts are playing GE as we head into the next recession in 2019. There is no bottom limit as these speculators and quants have total control.
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Dividends cut is a result of not having cash to pay it. Does GE have a money tree out back? Look how great using all the cash for stock buybacks tuned out. You have to have some cash coming in first if you want to pay dividends and do buybacks to prop a stock up.
Dude, Culp just brought back Rice, who helped get us into this mess. It's still the same path that leads to bankruptcy. Nothing that actually matters has changed.
i thought it was a courageous decision and shows why Culp replaced Flannery, who was resisting all these moves. It also shows the world GE may finally be on a different path and not just same as before. Do the shareholders want GE to become GM, which went bankrupt during financial crisis and the original shareholders lost everything ?
Debt reduction until Power can get back to some sort of normalcy and profitability. He, or the next CEO, can always give a dividend increase in the future. If he can achieve profitability across the divisions, steady cash flow, dump Lighting, set a good outlook, better management, and announce a dividend increase sometime in the future, just watch the stock soar. But not as far as the glory days I'm afraid.
How else was he going to pay John rice to come back and still afford the valuable services of stokes and strazik???
They’re really worth it. Their record speaks for itself. Oh wait..,