Looks like since Immelt took over, the value of GE has gone from about $60 to $20 a share.
Posted on 01/25/2011 9:11:35 AM PST by LRoggy
Jeff Immelt as the head of Competitiveness? What Is This Administration Smoking?
The record of Jeff Immelt as CEO of GE:
Takes over as CEO in September of 2001.
At the end of 2000 this is the company he inherits:
Shares Outstanding: 9,932,000,000
EPS: $1.29
Total Earnings: $12,812,280,000
Sales Per Share: $13.07
Sales: $129,811,240,000
Profit Margin: 9.9%
Employees: 313,000
Based on the 2010 Value Line end of Year predictions:
Shares Outstanding: 10,675,000,000
EPS: $1.10
Total Earnings: $11,742,500,000
Sales Per Share: $14.30
Sales: $152,652,500,000
Profit Margin: 7.7%
Employees: under 300,000
Sales grows about 1.8% compounded annually
Profit Margins fall
Less employees than 9 years ago, due to DOWNSIZING
Lower earnings AND earnings per share than in 2000.
These numbers come from both the Value Line statistical survey and GE’s annual reports.
AND THIS MAN IS CHOSEN TO LEAD THE OBAMA ECONOMIC COMPETITIVENESS TEAM???
The record of Jeff Immelt as CEO of GE:
Takes over as CEO in September of 2001.
At the end of 2000 this is the company he inherits:
Shares Outstanding: 9,932,000,000
EPS: $1.29
Total Earnings: $12,812,280,000
Sales Per Share: $13.07
Sales: $129,811,240,000
Profit Margin: 9.9%
Employees: 313,000
Based on the 2010 Value Line end of Year predictions:
Shares Outstanding: 10,675,000,000
EPS: $1.10
Total Earnings: $11,742,500,000
Sales Per Share: $14.30
Sales: $152,652,500,000
Profit Margin: 7.7%
Employees: under 300,000
Sales grows about 1.8% compounded annually
Profit Margins fall
Less employees than 9 years ago, due to DOWNSIZING
Lower earnings AND earnings per share than in 2000.
These numbers come from both the Value Line statistical survey and GE’s annual reports.
AND THIS MAN IS CHOSEN TO LEAD THE OBAMA ECONOMIC COMPETITIVENESS TEAM???
Looks like since Immelt took over, the value of GE has gone from about $60 to $20 a share.
They are out to destroy America. Turn off the TV and BS propaganda. They are not stupid - they are evil.
Bush, Rush, Palin’s fault
Obama has dug deeper into his toolbox to find another tool to help destroy America.
With every Obama breath, I hear the echos of “death to America”
Obama: “We’re gonna reward our friends and we’re gonna punish our enemies.”
Sounds like just the guy for the Obama Administration.
Obama needs somebody with executive experience in fundamentally transforming large, dynamic, successful, and independent organizations into overbearing, stagnant, and distressed organizations that are utterly dependent upon government. Like GE, the American government was once successful but is now in financial distress and secular decline.
Actually those aren’t bad numbers if they are real. This has been a deep, nasty recession. I’d call it a “depression”, but I think that that particular term will never be used again.
TARP was a lending program that has nothing to do with my figures, which are Income Statement driven.
The GE employee numbers ARE GLOBAL, not just the U.S.
Thank you for making my point.
Maybe you should enlighten us
Obama implied that making us more competitive will lead to more American jobs when GE under Immelt proved the exact opposite.
The percentage of American workers in the GE workforce has been declining for the last 10 years and will continue at an accelerated rate.
This at the same time that the total number of GE employees is declining.
Further GE under Immelt is also outsourcing supplier jobs as well.
Recently GE cut off a contract with a wind turbine factory in Indiana and shipped the work to China despite the factory offering to sell their parts at the same price as their Chinese competitors.
A wind turbine nacelle producer in California and Alabama lost half their volume to a Chinese producer of a nacelle that cost 25% more! Why? Promised volume in China.
Immelt has made GE more competitive at the cost of American jobs because GE is no longer an American company save that the profitability comes to America.
Okay, let’s take this another step.
GE decides to purchase an existing business in Poland that makes light bulbs for export to the rest of Europe. Do those employees count in your claim that GE’s foreign employee count is rising at the expense of US jobs?
And please don’t tell me this hasn’t happened a lot with GE.
Yes they count and yes it has happened.
GE purchased a factory in Poland that used to make helicopters and is converting it to make Windturbines.
But this time it is at the expense of German workers not US.
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