wth, when did GE become a possible candidate for bailout?

[StageLeft]

Linky poo

Are they really going to possibly risk a gov bailout? I thought GE, even recently, has been a respected company with a solid stock.

OK, so I thought wrong looks like it got crazy ugly for them last year. I think I recall something about their financial division being a mess.

 

[ElFenix]

their financial division was doing all sorts of tricks to make GE's numbers each quarter. it became impossible for them to do that last year and so the unthinkable happened: GE didn't make its number. while the typical person may think of GE as a company that makes lightbulbs, turbines, and locomotives, it's one of the biggest finance companies out there (i interviewed with AMEX once and they thought of GE as their biggest competitors).

 

[StageLeft]

while the typical person may think of GE as a company that makes lightbulbs, turbines, and locomotives

Guilty :0

 

[Pepsei]

i'm so glad i never took that job in Tahoe/reno with GE and stick it out here.

 

[Modelworks]

GE use to be the stock you could put money into and not worry. Now though

 

[jman19]

Originally posted by: ElFenix
their financial division was doing all sorts of tricks to make GE's numbers each quarter. it became impossible for them to do that last year and so the unthinkable happened: GE didn't make its number. while the typical person may think of GE as a company that makes lightbulbs, turbines, and locomotives, it's one of the biggest finance companies out there (i interviewed with AMEX once and they thought of GE as their biggest competitors).

This is correct, GE Capital is considered a competitor/peer of some of the largest financial institutions in the world.

 

[StageLeft]

"GE Capital is considered"

Is or was

 

[dardin211]

GE is also huge in the healthcare industry.

 

[JS80]

welcome to 30 days ago

 

[ebaycj]

Originally posted by: Skoorb
"GE Capital is considered"

Is or was

Unfortunately, still "Is" considering the fact that all the other financial institutions are in the gutter too.

 

[Jiggz]

It's the same reason Immelt doesn't get fired as CEO after dragging the company to the ground - Political connection to the WH, the very same reason NBC (whose parent company, guess who - GE!) ensured everything about "R" is negative or not covered and everything "D" is exaggerated positively during the last election!

 

[imported_Lothar]

Originally posted by: Jiggz
It's the same reason Immelt doesn't get fired as CEO after dragging the company to the ground - Political connection to the WH, the very same reason NBC (whose parent company, guess who - GE!) ensured everything about "R" is negative or not covered and everything "D" is exaggerated positively during the last election!

I don't blame Immelt for GE's problems. He has a fine line to walk.

More than anyone else, I blame media mongul Jack Welsh for GE's problems. He was the one that made GE capital what it was today through a string of acquisitions in the 90's.
Boy...The media sure loved Jack Welsh.

 

[GeezerMan]

link

could it be it's not GE's fault?

 

[miketheidiot]

Originally posted by: Jiggz
It's the same reason Immelt doesn't get fired as CEO after dragging the company to the ground - Political connection to the WH, the very same reason NBC (whose parent company, guess who - GE!) ensured everything about "R" is negative or not covered and everything "D" is exaggerated positively during the last election!

what model of tinfoil hat are you wearing?

you strike me as the bonet type

 

[palehorse]

Around and around we go... the drain, that is.

 

[Linflas]

Originally posted by: miketheidiot

Originally posted by: Jiggz
It's the same reason Immelt doesn't get fired as CEO after dragging the company to the ground - Political connection to the WH, the very same reason NBC (whose parent company, guess who - GE!) ensured everything about "R" is negative or not covered and everything "D" is exaggerated positively during the last election!

what model of tinfoil hat are you wearing?

you strike me as the bonet type

Immelt Named To Obama's New Economic Advisory Board

 

[wwswimming]

Originally posted by: Skoorb
Linky poo

Linky Poo #2

they're reporting $17 billion in net income for the year ending Dec. 31, 2008.

what happened ?

i wonder if GE management has a fiduciary responsibility to try to acquire bail-out $$, just like they have a fiduciary responsibility to maximize "shareholder wealth".

i.e. the $$ are there & they don't need them, but they are obliged to try & grab them while the grabbing is good ?

i don't know. never thought i'd find myself thinking about buying GE stock.

 

[Jiggz]

Originally posted by: Linflas

Originally posted by: miketheidiot

Originally posted by: Jiggz
It's the same reason Immelt doesn't get fired as CEO after dragging the company to the ground - Political connection to the WH, the very same reason NBC (whose parent company, guess who - GE!) ensured everything about "R" is negative or not covered and everything "D" is exaggerated positively during the last election!

what model of tinfoil hat are you wearing?

you strike me as the bonet type

Immelt Named To Obama's New Economic Advisory Board

Mike The Idiot - Are you still interested with the tinfoil hat model? Or you're just gonna live it up with your sign in name? If you are it's I.M. model (Idiot Mike, i.e.)

 

[JS80]

Originally posted by: Linflas

Originally posted by: miketheidiot

Originally posted by: Jiggz
It's the same reason Immelt doesn't get fired as CEO after dragging the company to the ground - Political connection to the WH, the very same reason NBC (whose parent company, guess who - GE!) ensured everything about "R" is negative or not covered and everything "D" is exaggerated positively during the last election!

what model of tinfoil hat are you wearing?

you strike me as the bonet type

Immelt Named To Obama's New Economic Advisory Board

lulz pwned

 

[PricklyPete]

Originally posted by: Lothar

Originally posted by: Jiggz
It's the same reason Immelt doesn't get fired as CEO after dragging the company to the ground - Political connection to the WH, the very same reason NBC (whose parent company, guess who - GE!) ensured everything about "R" is negative or not covered and everything "D" is exaggerated positively during the last election!

I don't blame Immelt for GE's problems. He has a fine line to walk.

More than anyone else, I blame media mongul Jack Welsh for GE's problems. He was the one that made GE capital what it was today through a string of acquisitions in the 90's.
Boy...The media sure loved Jack Welsh.

No...no..no...It's all Jack Donaghy's fault. His mishandling of the microwave division has led to all kinds of poor products and firework shows.

 

[wwswimming]

Originally posted by: Skoorb
Linky poo

Linky Poo #2

they're reporting $17 billion in net income for the year ending Dec. 31, 2008.

what happened ?

i wonder if GE management has a fiduciary responsibility to try to acquire bail-out $$, just like they have a fiduciary responsibility to maximize "shareholder wealth".

i.e. the $$ are there & they don't need them, but they are obliged to try & grab them while the grabbing is good ?

i don't know. never thought i'd find myself thinking about buying GE stock.