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6$ Stock ---- OMG and to think this was the company that all Babyboomers had in their retirement account....Classic Blue Chip stock now on sale!
They need to FIRE Immelt why that guy still is collecting his 20m$ a year is beyond me...Well we know why, because he stacked the Board with his own cheerleaders.
Shareholders need to stop rolling over for these corrupt CEOs and Demand Accountablility. (Remember that word)
Its because they cut their quarterly dividends to .10/share. They have a pretty aggressive restructuring plan, and the dividend cut was told to save them i believe somewhere between 5-10 billion. They are going to bounce back, i hate to say it, but i do not see the government letting them fail either. Although GE did some stupid things with loans and the housing market, got greedy.
I noticed in fast company this month they were pushing GE. I think it's a dog and immelt is a dog turd. Wouldn't touch that stock with a ten foot pole.
GE is an extremely diversified company. GE Capital is the financial arm of GE. The company is looking to dump it. And yes, GE Capital did make mistakes with the whole subprime market. However, if GE fails and files for bankruptcy, you better start buying guns and ammo, 'cause it's gonna get really rough out there.
GE has exposure to commercial financing, and is being dragged down due in part to the "oracle from Omaha" ??Warren Buffet diluting common shares with a sweetheart deal just short of extortion. The dividend cut came and the money men are scared sh-tless of Obama, Immelt is an adviser to the POTUS. Anyone who has ridden this stock down to sell here is playing into the hands of some very smart people who are buying here. The stimulus program has designs for "green" power generation, control and grid upgrade. GE has been positioning to capitalize on this as a biz plan for several years.
They need to FIRE Immelt why that guy still is collecting his 20m$ a year is beyond me...Well we know why, because he stacked the Board with his own cheerleaders.
We need a modern day Robin Hood to rip off these execs. They are pushing and pushing failed business models knowing they will either bust or suck in bailouts (our money) while collecting multi-million dollar bonuses. I'm sick of our government giving good money to bad business.
The proceeds, courtesy of dick head executives, can go towards laid off employees who got screwed out of severance, pensions, etc to feed, clothe, and house their families.
<snip>Extremely diversified. Of course it does own NBC, so one might wonder...
We can only hope Fox buys NBC and makes Rush Lim the nightly anchor. Now that would be a news program worth watching. On a serious note, GE is probably a good buy as it is in line to profit handsomely off the Obama taxpayer funded renewable energy plans. GE has its fingers in all the right pies. The ETF XLI may be a good alternative if afraid of GE. It has a fair exposure to GE and similar firms. All should profit under Obama's AE plan. Disclosure: I do not own XLI but might by Monday night. It was a toss up today between XLP and XLI. XLP looked a little better on the basics and it hit on a low bid.
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