https://www.cnn.com/2019/04/08/investing/ge-stock-downgrade-jpmorgan/index.html
9 replies (most recent on top)
GE’s demise can be blamed on many individuals. Immelt included. Allowing bean counters with little to zero product knowledge to direct the GE ship continues the plunge GE into the abyss. Financial leaders are wrecking this place and GE is too stupid to understand.
Immelt is the one who convinced Trian to come aboard. Trian was snookered. Immelt used stock buybacks to keep the stock price propped up as long as he could. Then when it crashed, he took his golden parachute and is now in another lucrative job. You have to admire a man with that much cahoolas.
It is Trian which started the debt binge to get money to their investors. See their 2014 paper available online. They gambled with $2.5B and made GE load up on debt.
Of course, GE mgt and CEO Immelt are also culpable. They could have taken the right path, but they would have been ousted by Trian's activist pressure. Buying Alstom was all GE leadership. Arrogance at worst.
To lay GE's current condition on Jack is ludicrous. He made mistakes but he retired in 2001, Jeff had 15 yrs to make changes. Go look at GE's debt load, Pension funding level from Jack's retirement till today and explain how Jack is responsible.
Immelt? Immelt was a symptom......Welch was patient zero for what we are seeing today.
and unfortunately those in GE know that $5 is too high
Glad I got out when the stock was in the $30's....
Tusa trying to get stock as cheap as possible before he tells his clients to buy
This is all Immelts doing.... Look at the true condition of GE under his rule...