Thread regarding General Electric Co. layoffs

Move forward, a bad thing can become a good thing. If we think a ship is about to sink what shall we do? Can we repair it? Keep waiting for the miracle to happen? Or run for our own life?

GE is for sale. Culp if there to sell it. Just means it will be broken up and not exist as a large conglomerate anymore. Culps goal is to try to get as much $ for the top dogs and their WS friends as the break up plays out.

There was a lot more wrong than just 2 bad timed acquisitions. GE capital got over levered, GE insurance s---ing up cash. GE is a small group of people in a headquarters far far away trying to make financial deals and hoping the divisions somehow can provide them more cash. They are not good at what they do.

I heard from one of the OA's that was let go. There was no warning. There were no rumors. If it was a mid level management decision, it would have leaked out I think. It must have come from the top down, from the Rice level.

Problem is everyone likes the OA's and everyone knows them. Rice made a dumb, dumb mistake. If it was required to get rid of them then many more people should have been let go at the same time.

Just because you don’t file for bankruptcy doesn’t mean you couldn’t. As long as you can pay your bills you don’t have to. My point is that it’s an option to use chapter 11 when the conditions are right. And the conditions are right for GE at this point.

The point of the post was not to debate the definition of bankruptcy. Split hairs all you want and scoop up as many shares of GE as you’re comfortable with on the meantime. But since I can’t draw you a picture let me put a finer point on this: culp was out talking about acting with urgency but all I’ve seen is the same old stuff ... change the org chart around ... leave same people in place ... and while we’re at it let’s just bring John rice back too. He really knows a thing or two about screwing the place up. These aren’t real changes that show any urgency to change the organization. These are cosmetic moves that are hiding some ulterior motive. A shiny object to distract while the real biz is being done. What exactly that is I don’t know. I suggested bankruptcy because that well could be the most responsible move with the benefit to executives to continue to collect whopping paychecks for failure. It could also be a major breakup of the biz into something else.

You can be my guest to buy all the Ge shares you want and navel gaze about what qualifies as bankruptcy. But trust me ... GEs there. I’ll continue to compare culps words (urgency) with his actions (none) before I become a believer in this again

In March 2009, GE stock reached a low of $5.73/share and a market cap of $55B. Long term debt at the time was $327B and total liabilities were $651.3B. Debt overwhelmingly exceeded market cap (by a much larger ratio than today) so apparently that isn't the definition of bankruptcy, @tov. Analysts appear to believe that the prospect of bankruptcy for GE is still remote. I hope they are right.

Do agree that Culp needs to do something dramatic soon. The stock price moving steadily down is a vote against inaction.

Who pays for these bail outs? Everyone! So time for some of you snooty little arrogants to humble yourselves ... Start acting like you have intelligence, morals, character, and common sense...Oh... I've been there and watched the employee sabotage, back biting, lie telling to the higher ups to knock off any competition..Spirit of the Letter is a joke...

Now you are left with the average at best, bankrupt, and wondering what the h$ll happened...

I suggest doing a sign that will show the number of days culp has been on the job without meaningful change. I’m counting about 60 days or so now.

The longer it goes the more it shows he’s just in it to protect the fat paychecks of the bloated executive staff.

How can you say that bankruptcy isn’t in the cards when debt exceeds market cap. That’s the definition of bankruptcy. The positive cash flow of businesses would be the company that emerges from bankruptcy. That’s exactly what chapter 11 is for. She’s the debt from failed operations and let those that can survive do so.

Same old wine in a different bottle.

Bankruptcy is not in the cards considering the positive cash flow businesses of Aviation, Healthcare, Transportation, and O&G.

Power will get downsized and right-sized for an eventual turnaround.

Unfortunately, Immelt made 2 huge bets at precisely the wrong time in Power and O&G.