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Started By
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GE's $6.2 billlion dollare
Posted on 1/17/18 at 11:02 pm
Posted on 1/17/18 at 11:02 pm
Someone 'splain what a "$6.2 billion after-tax charge to address problems in its insurance subsidiary" means.
Did the accountants make a mistake/fraud?
How do you not notice it until the sum surpasses $6 billion?
Did the accountants make a mistake/fraud?
How do you not notice it until the sum surpasses $6 billion?
4
Posted on 1/17/18 at 11:04 pm to matthew25
Lawsuit? Are these funds actually being paid or being held as a rainy-day slush fund for a probable case against them?
Without looking at their financial statements...that seems like a whole lot of $$$$.
Without looking at their financial statements...that seems like a whole lot of $$$$.
Posted on 1/18/18 at 6:25 am to matthew25
I know there is a big 401k lawsuit against them. Don’t know if that’s what it is about or not. I work for GE and they have closed a lot of offices across the country, including mine
Posted on 1/18/18 at 7:43 am to matthew25
So I just got the info from a video at work. The 6.2 billion dollar charge is basically from when GE was in the insurance business years ago and now that the people they were covering have gotten older and are making way more claims from what I understand.
Posted on 1/18/18 at 8:34 am to matthew25
GE was in the long term care insurance business in the 80’s and 90’s. They lost their arse. There was an article in the WSJ about the whole long term care insurance sector and how these policy premiums were grossly under priced.
Posted on 1/18/18 at 8:45 am to Civildawg
quote:
the people they were covering have gotten older and are making way more claims from what I understand.
Now the spin offs are making more sense, let the insurance stand on its own despite being marketed by GE so the new company can go broke and screw over the clients, genius.
The shareholders should be thrilled to unload the commitment.
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