Immelt should have been fired ten years ago.
Two other reasons I would avoid the stock,
1. Never-ending Hudson River PCB dredging, and
2. Fukushima liability.
Immelt ran GE like Congress would run it if Congress was a person. The man was by far the most incompetent CEO in the country to the point that the shareholders should have voted out the entire Board of Directors for not canning him 12 years ago.
Hmmm... Weren’t they ‘partnered’ with the Obama regime back in 2008?
And now we find ANOTHER place where BILLIONS of dollars have gone missing....
Will ANYBODY seriously investigate this?
Hmmmmm....
Don’t forget about democrat Warren Buffett’s bailout of GE .......
http://blogs.reuters.com/rolfe-winkler/2009/08/04/buffetts-betrayal/
http://www.economist.com/node/12342006
Buffett needed the TARP bailout more than most. In all, Berkshire Hathaway firms received $95 billion in TARP money.
http://reason.com/blog/2012/05/08/the-myth-of-warren-buffetts-economic-non
Immelt was one of Obama’s players, as was Warren Buffet. The anointed ones in the Kenyan’s oligarchy. That’s why Obama killed the Keystone pipeline; Buffett’s railroad was making a fortune shipping the oil on his railcars.
Nice little kingdom they had here!!
Worked for GE in the mid 60s at their Evendale plant. Fantastic company,,,,,,,,,,,,, then.
The reporter appears to not have kept up with the subject of his story. He talks about contending with the flagging oil services business, but they are in the process of spinning that off in a deal which has them paying 10s of millions each to senior Baker Hughes officials to get the deal done.
GE will end up owning about 2/3 of the company at the expense of Baker Hughes current shareholders (thus the payoffs to the BH execs), but they can dump that for cash easily enough, shedding a bunch of liability in the process.
Immelt is retiring soon. “Former GE CEO Jeff Immelt” is almost as good to hear as “former President Obama”
Oh, shit. I have GE pensions.
Our father worked for GE for 34 years. It was a source of pride that their pension plan was always fully funded. Immelt was always about himself.
GE is the most mismanaged company this side of Sears Holdings. The only great products GE makes are locomotives and airplane engines (still not as good as Pratt Whitney IMHO.)
GE is the most mismanaged company this side of Sears Holdings. The only great products GE makes are locomotives and airplane engines (still not as good as Pratt Whitney IMHO.)