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| Economy |
| GE exec defenestrated after market losses |
| 2018-10-02 |
| General Electric Co. GE 7.09% fired Chief Executive John Flannery after 14 months in the job as deeper problems in the conglomerate’s troubled power unit blindsided the board and caused GE to warn it would miss profit and cash targets. The company named board member Larry Culp, who became a director in April, its new chairman and CEO, effective immediately. Mr. Culp, a former CEO of Danaher Corp. , had joined GE’s board as part of a broader shake-up of the struggling conglomerate. Shares of GE, which have tumbled by half during the past year after the company slashed its dividend and missed financial targets, rallied on the news. On Monday, the stock rose 7.1% to $12.09. More from the Daily Mail |
| Posted by:badanov |
| #9 GE's slide down. He's financial branch got into the subprime loan business. That was part of it's slide downwards. |
| Posted by: JohnQC 2018-10-02 23:59 |
| #8 GE was indeed dropped from the Dow Jones Industrial Average in June of this year. link The company accumulated entirely too much debt. |
| Posted by: trailing wife 2018-10-02 21:15 |
| #7 I believe GE was dropped from the Dow Jones Industrial Index awhile back. More of the same. |
| Posted by: CrazyFool 2018-10-02 14:48 |
| #6 The leftist is always attracted to rent-seeking and has a distrust of earning profits. |
| Posted by: Bright Pebbles 2018-10-02 12:45 |
| #5 Like Kodak |
| Posted by: Frank G 2018-10-02 10:00 |
| #4 Ref #3: Yes, always referred to as a 'never sell' stock investment. Sort of disproves the 'never sell' meme doesn't it ? |
| Posted by: Besoeker 2018-10-02 09:16 |
| #3 The company was a solid blue chip company for years until Obama's buddy, that left-wing nutjob Immelt was CEO and took it down. |
| Posted by: JohnQC 2018-10-02 08:25 |
| #2 ...I wouldn't feel too sorry for him - he likely had a few contract clauses that will still leave him securely in the 1%. Mike |
| Posted by: Mike Kozlowski 2018-10-02 04:58 |
| #1 Guess he was kinda castrated too. |
| Posted by: Skidmark 2018-10-02 01:23 |