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GE may break up into several different companies
Posted on 1/16/18 at 10:06 am
Posted on 1/16/18 at 10:06 am
quote:LINK
GE breakup is likely and could come as soon as this spring: Sources
-GE seen as likely to embrace major company break-up, sources tell CNBC's David Faber.
-GE breakup could come as soon as this spring, the sources said.
-"We are looking aggressively at the best structure or structures for our portfolio to maximize the potential of our businesses," CEO John Flannery said on an investor call.
2
Posted on 1/16/18 at 10:31 am to LSURussian
How does this affect people who own this stock?
Posted on 1/16/18 at 10:34 am to Kramer26
quote:Usually it means current owners of GE will receive shares in each of the new companies that get spun off. The number of their new shares will be based on the terms of the break up.
How does this affect people who own this stock?
ETA: The idea of breaking up GE is a real slam on GE's former CEO, Jeff Immelt. The more that information comes out about the losses in GE's financial units, it's looking more and more like Immelt was overseeing a giant operation of cooking the books.
Immelt is the reason I sold my GE shares several years ago.
He was the most frequent non-governmental White House visitor during Obama's two terms. He kept moving GE towards 'green' initiatives and that strategy was extremely unprofitable so he, apparently, inflated earnings numbers in the financial units of GE in order to not have to show huge overall losses during his time there.
His coziness with Obama was an attempt to get more federal tax dollars and/or credits for GE's green manufacturing units
I would not be surprised to see lawsuits galore forthcoming and maybe even criminal charges.
This post was edited on 1/16/18 at 10:58 am
Posted on 1/16/18 at 10:44 am to LSURussian
Which division has the most growth? I would think Healthcare and Aviation would be the best sectors but that's just a guess.
Posted on 1/16/18 at 10:53 am to bogart
quote:
Which division has the most growth? I would think Healthcare and Aviation would be the best sectors but that's just a guess.
That's a good question. I don't know the answer. I stopped following GE when I sold my shares several years ago. I just saw the "breaking news" headline on CNBC.com this morning.
Posted on 1/16/18 at 10:54 am to LSURussian
They've been on my watch list for a while now but I have been too hesitant to buy in due to the mountain they have to climb to turn things around.
Posted on 1/16/18 at 11:19 am to LSURussian
There has been talk of GE shedding their locomotive division for quite a while. That industry has been in decline from the downturn in coal shipments the last decade.
Posted on 1/16/18 at 11:46 am to SurfOrYak
Jeff Immelt is the Joe Alleva of CEOs
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