Monday, March 09, 2009

GE pushed to the wall, humbled !!

Nobody thought this would happen to the giant General Electric ... The AAA credit rating giant is now humbled as never before, the last time it cut its dividend by two thirds as it did this time was during the depression of 30s.

From $ 17, the shares now trading at $ 6, with about $50 billion as the accumulated loss of GE capital, the company is unwilling to disclose its health, assets and liabilities, lest its share prices come tumbling down faster inflicting greater damage ...

CEO Jeff Immelt, is a much troubled man ... Never in his wildest dreams would he have thought the company he was leading would be humbled..

But more is yet to come.. and the chaff will be separated from the grain ... 

The world hopes this company will not bite the dust like AIG or Citibank .. If it does, God save America ...

George Easaw

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