OT:General Electric..Imagination at Work

[SirBarksalot]

Their slogan is funny. Sounds like the imagination has been in the accounting department.

they going down...
https://finance.yahoo.com/news/gene...-harry-markopolos-fraud-claims-145954888.html

 

[karlchilders.sixpack]

When they sold off their finance division

my thoughts...Fasten Your Seat Belts.

But, it has taken a bit longer than I expected.

 

[SirBarksalot]

my thoughts...Fasten Your Seat Belts.

But, it has taken a bit longer than I expected.

not sure if you watched the interview, they are effd. Lot of it having to do with insurance products, which I had no idea they used to be involved with.

Could be a too big to fail deal you think? Fed bail out?
People need to go to jail, but statute of limitations has likely run out on some of the original scammers.

 

[karlchilders.sixpack]

Did not see this one

but they had a segment on CNBC few days ago.

They have problems. I did not realize they were into some of the stuff, that they are in.

 

[Jeffreauxdawg]

Yeah... I'm going to call BS on this guy. 17ing dude is getting paid by a hedge fund that is short on GE and won't disclose what fund it is. They hired him to make a report like this. He is making some vague statements like "a recession could force GE into Chapter 11." No **** Sherlock. A recession could force any company into Chapter 11. Everyone knows GE is in the crapper from bad investments under Immelt (Like coal.) In regards to the Insurance reserves, Goldman Sachs sent clients a letter assuring clients GE's reserves are on par with it's competitors.

If you don't like Goldman, Stanley Druckenmiller, who is on the Mount Rushmore of investors, bought a bunch of GE after the report came out. Harvey Pitt ( former SEC chair) and other short sellers are also calling BS, because apparently Markopolos is taking his fee as a percentage of the profits.

GE will go out of business one day, but not on this deal. If it turns out dude is wrong he should go to prison. That **** should be illegal. If he's right, 17 him for not laying all the information out there instead of just tanking the market for personal gain.

 

[SirBarksalot]

Yeah... I'm going to call BS on this guy. 17ing dude is getting paid by a hedge fund that is short on GE and won't disclose what fund it is. They hired him to make a report like this. He is making some vague statements like "a recession could force GE into Chapter 11." No **** Sherlock. A recession could force any company into Chapter 11. Everyone knows GE is in the crapper from bad investments under Immelt (Like coal.) In regards to the Insurance reserves, Goldman Sachs sent clients a letter assuring clients GE's reserves are on par with it's competitors.

If you don't like Goldman, Stanley Druckenmiller, who is on the Mount Rushmore of investors, bought a bunch of GE after the report came out. Harvey Pitt ( former SEC chair) and other short sellers are also calling BS, because apparently Markopolos is taking his fee as a percentage of the profits.

GE will go out of business one day, but not on this deal. If it turns out dude is wrong he should go to prison. That **** should be illegal. If he's right, 17 him for not laying all the information out there instead of just tanking the market for personal gain.

We will see. I was wondering the same...I was thinking he shorted the hell out of GE then did the report. But, surely the FTC would easily be all over this guy if it was anything like that. He’s not hiding anything. In any event, will be interesting to watch this play out.

I just stumbled upon the story from a fishing forum of all places...someone bumped a thread from 10 years ago, (roughly) entitled, “GE a buy at $32??”
Lol

 

[karlchilders.sixpack]

Well, yeah, but if you are a long term stockholder

go look at a 3 year chart, & try not to vomit.

 

[Jeffreauxdawg]

I'm not knocking your post barksalot. I'm not going to say that GE is in a good spot, but I think this Markopolos dude is playing a chicken **** game that should be considered market manipulation. Morningstar had a good piece earlier this week. Markopolos aside, GE has some awesome assets still and can generate cash quickly when necessary. Check out the second link below for an example. A GE healthcare IPO would knock out a shitload of it's debt.. it's kinda like the old saying that you are only house pour until you sell the house, then you are cash rich. Unlike Enron, WorldCom, and Madoff... GE still has a few nice houses, especially that big *** palace in the Hamptons (aviation.)

https://www.morningstar.com/articles/942791/is-the-end-near-for-ge

https://www.fool.com/investing/2019/02/25/ge-big-debt-problem-just-disappeared.aspx

 

[SirBarksalot]

Nah Joe, no offense taken at all. I’m definitely not attuned to WS. Just thought the story was a big one. I’ll check out the articles.

 

[tatedog]

I remember watching a segment on CNBC a few months back where one of their regular talking heads was pimping GE stock and Kevin O'Leary was absolutely lighting her up. He did everything but ask her how much GE execs were paying her.