Looks like since Immelt took over, the value of GE has gone from about $60 to $20 a share.
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.
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.