Tuesday, March 10, 2009

RE: [cet86] GE pushed to the wall, humbled !!

Well, by free market principles, this company and others like it should be allowed to fail, collapse or go bankrupt and reorganise.

I suspect, though, that the problems at GE are not necessarily of Immelt's making.  I have been leery of Jack Welch, the self-promoting jack ass who used to head GE before Immelt and I suspect a lot of its problems can be traced down to policies that had their genesis under him.

Rajan


To: cet86@yahoogroups.com; geasaw.blog@blogger.com
From: geasaw@gmail.com
Date: Mon, 9 Mar 2009 20:32:27 +0530
Subject: [cet86] 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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