--not something mentioned by any of the "analysts" I've read so far. I can't imagine how difficult it is to take on a company like this. You've got to think it has friends in very high places.Certain information in the Report has been made available to Law Enforcement entities only, and has been omitted from the publicly released version.
GE Will Look Much Different a Year From Now
The industrial conglomerate will have higher earnings and cash flow by this time next year -- and a dramatically lower debt load.
https://www.fool.com/investing/2019/08/ ... m-now.aspxThere isn't much factual basis for these concerns.
General Electric Gets Most of Shareholder Lawsuit Dismissed
Suit alleged yearslong fraud that inflated results in GE’s insurance and power division; plaintiffs can amend claims
https://www.wsj.com/articles/general-el ... 1567189512The ruling preserved the shareholder claims that GE misled investors by not disclosing its use of factoring—selling future revenue for cash now—to mask the gap between revenue and cash flow.
https://www.barrons.com/articles/wework ... 1569610654The Website Alleging GE Accounting Fraud Just Disappeared
https://www.forbes.com/sites/jackkelly/ ... b3a2ec1658GE, Once The Epitome Of Corporate America, Announced It’s Freezing Pensions For 20,000 Employees
but a common excuseSean Hayden wrote: ↑Thu Aug 22, 2019 1:23 amThe only response I could find from 2009:
--error's a weird word for fraud."GE is committed to the highest standards of accounting," the company said in a statement. "The errors at issue fell short of our standards, and we have implemented numerous remedial actions and internal control enhancements to prevent such errors from recurring."
Obviously not. The trust fund in the Cayman's has ben created to wthstand this sort of bother.Sean Hayden wrote: ↑Wed Oct 09, 2019 12:47 pmhttps://www.forbes.com/sites/jackkelly/ ... b3a2ec1658GE, Once The Epitome Of Corporate America, Announced It’s Freezing Pensions For 20,000 Employees
The end of pensions has been expected for ages. This won't be seen as a problem.
...Both former CEO's of General Electric Co. (NYSE: GE) should pay back their combined half-a-billion severance packages to restore their reputations. Jack Welsh was awarded $417 million dollars when he parachuted out of the company in 2001 and Jeff Immelt should do the same with the $211 million he took in 2017.
That’s according to The Edge (who source underperforming companies for activist involvement, Special Situations and Spinoffs), stating that the 130-year-old GE is as close to collapse as it’s ever been thanks to the legacy of systemic weakness left by 83-year-old Welch and his 63-year-old successor Immelt.
Welch’s almost half-a-billion dollar payout (worth $600 million today) is believed to have been the largest severance package ever paid to any CEO in the history of corporate America.
...Both men earned hundreds of millions of dollars from GE in both salary and benefits, and when Immelt retired in 2017, he was paid $211 million. Given Welch’s admission that he would be judged on his chosen successor’s record, returning their severance packages would be a positive move given the dire state of the company now.
https://www.forbes.com/sites/jimosman/2 ... dbc8bc787cThe Edge says GE’s new CEO Larry Culp has a massive fight on his hands as he struggles with the $105.8 billion debt he’s inherited, and the futures of 20,000 salaried U.S. employees who have had their pensions frozen.
Even as dividends have been cut, a legitimate turnaround is still a long way off. Despite the appearance of GE taking the bull by the horns by announcing power plant closures, putting their subprime mortgage business into bankruptcy and detailing massive layoffs in America and Europe (including more than 1,000 US corporate jobs and thousands more in factories in France, England, and Switzerland), the future still does not look good.
Just last month, Culp was highly optimistic, revealing, “There’s still a lot to do, it is a reset year. But net-net, we’re pretty encouraged, I’m confident that in 2020, and in 2021, we’ll see meaningfully better performance for GE as a whole.”
However, sentiment dropped again after J.P. Morgan analyst Stephen Tusa issued a negative outlook and insisted GE’s core business earnings (before interest and taxes) are falling 10% short of the estimates it made in March.
Sounds like they're hoping for real Culp-ability......GE’s new CEO Larry Culp...
Well, it's been a year and the market still doesn't like GE. If you bought it then you'd be down ~3 dollars a share.Sean Hayden wrote: ↑Mon Aug 26, 2019 7:58 pm
The difference between his report and what these guys do on a regular basis is that his word may have actually moved the stock. Am I missing something here? I don't see how that can be considered manipulation, unless they're all guilty of it.
So what's the point of mentioning it? Well, maybe it's because one of these guys owns the stock and he's not alone.
GE Will Look Much Different a Year From Now
The industrial conglomerate will have higher earnings and cash flow by this time next year -- and a dramatically lower debt load.https://www.fool.com/investing/2019/08/ ... m-now.aspxThere isn't much factual basis for these concerns.
--so let's check it out in a year.
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