GE Is Crashing

The pre-market buyers of last resort, hoping that GE just kitchen-sinked by slashing its dividend by 50%... are in trouble.

Everything was fine until CEO Flannery started speaking...

  • *GE TO BORROW $6 BILLION FOR PENSION CONTRIBUTION, CEO SAYS
  • *GE CEO: ALSTOM ACQUISITION PERFORMING BELOW EXPECTATIONS
  • *GE CEO: GE POWER EXACERBATED ITS PROBLEMS W/POOR EXECUTION
  • *GE CEO SEES `LIMITED' M&A IN THE NEAR TERM
  • *GE CEO: NEW, SIMPLER EARNINGS METRICS TO FOCUS ON CASH

The company also announced that it expects adjusted earnings of $1.00 to $1.11 per share for 2018, which was lower than Wall Street's expected $1.18.

And shareholders pulled the plug...

Sell the rumor, sell the news?

Comments

ali-ali-al-qomfri ShorTed Mon, 11/13/2017 - 11:26 Permalink

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Cccchhhhttt. Ah Ladies and Gentlemen, this is your Captain, it appears we’ve lost all power;  to all systems and we’re runnin’ on fumes, thankfully for backup syssssstttttta

In reply to by ShorTed

NoDebt small axe Mon, 11/13/2017 - 09:56 Permalink

"*GE TO BORROW $6 BILLION FOR PENSION CONTRIBUTION, CEO SAYS"Who they borrowing that money from?  GE Capital?  I'd love to hear how that loan approval process went down:"Hi, I'd like to borrow $6B."  "Sure, what for?"  "Oh, we're just gonna piss it down the bottomless pension fund hole."  "Then how will this loan be repaid?"  "It won't."  "Oh, I see.  Loan approved." 

In reply to by small axe

2_legs_bahhhhhd NoDebt Mon, 11/13/2017 - 10:35 Permalink

GE Capital, the same vulture capitalist predator bank that destroyed many small businesses during the tech boom/bust, lending money, knowing that Nortel and friends were cooking their books and financing telco startups that had no revenue to pay it back. The same GE Capital that demanded collateral/security from small business that was the backbone of Nortel supply chain, knowing they were going to implode, because they were buying Nortel receivables. Other than that,a fine institution of capital malfeasance.

Millions of pension fund victims in that scam that never got one moment of exposure in the media.....wonder why.

In reply to by NoDebt

GUS100CORRINA NoDebt Mon, 11/13/2017 - 10:42 Permalink

FYI for ZH readers ...GE had to put money back into the PENSION fund because they used PENSION funds to originally buy back company stock. To bad they paid a higher price for the stock.So we can think of this as a debt leveraged buy back operation.So, the US Government has been stealing money from Social Security to fund government operations.  So when is the US Government going to put the money back into Social Security? Inquiring minds want to know!!!

In reply to by NoDebt

Donald J. Trump GUS100CORRINA Mon, 11/13/2017 - 10:49 Permalink

Funny you mention this.  No one said s thing during presidential primaries when Chris Christie was talking about .gov raiding social security and that the money was gone, people got screwed over.  It's bever being repaid.  We have to make sure this doesn't happen again.I said WTF, that's it?  It's gone like in South park It's gone?  And the gov doesn't have a way or intend to reimburse it.  Fuck you .gov find the money you stole.

In reply to by GUS100CORRINA

Branded Omen IV Mon, 11/13/2017 - 14:36 Permalink

Welch was the cocksucker who built the company you see before you now. He just had it nicely wrapped in a big box with pretty paper and shiny bow, handed it to Immelt and fled the scene. His timing was impeccable don't you think - almost as if he knew something?

In reply to by Omen IV

pitz Mon, 11/13/2017 - 09:52 Permalink

GE was doomed when they started going down the road of all that 'financial' crap and heavy reliance on vendor financing.  Internally the company is an utter mess, with it taking months even to get a new employee set up with voicemail.  GE is where ideas and acquired companies essentially go to die and end up worthless.   

Truth Eater Mon, 11/13/2017 - 09:57 Permalink

GE is what produced defective nuke power plants (Fukushima and MANY other locations) and fired their engineers who warned of the weaknesses.  GE is responsible for polluting the whole Pacific Ocean and all the northern hemisphere with radioactive waste.

FoggyWorld Truth Eater Mon, 11/13/2017 - 10:47 Permalink

News came out this morning that Hawaii has received 200 times more Fukushima radiation than models had predicted.  Over a trillion becquerels of nuclear waste have fallen on Hawaii so far.And last week a study of the fish in that area was released and it shows that almost half of the fish in the waters in and around Hawaii are carrying radiation.

In reply to by Truth Eater