https://www.cnbc.com/amp/2019/09/19/nelson-peltz-on-general-electric-trian-made-big-mistake-on-ge-stake.html
5 replies (most recent on top)
Did Trian factor into its projections sensible utilization of the $200B brought in by GE Capital sale?
The letter below indicates that only $29B of that money was spent on stock buybacks. What happened to the rest?
Could the top management shed any light on this?
http://ctwinvestmentgroup.com/wp-content/uploads/2019/04/GE_Board-Letter_Final.pdf
The GE White Paper said in 2015,
"Management has taken bold steps to reshape the company".
"Trian believes GE could be worth approximately $40 to $45
of implied value per share by the end of 2017 and will seek
to work collaboratively with GE’s management to help
positively influence corporate events"
"World-class people"
And now he has a renewed confidence in our new CEO. It's deja vu by all over again.
Dear Nelson Putz: What about your advice in you stupid Trian whitepaper (linking https://www.conference-board.org/retrievefile.cfm?filename=Panel-II—Trian-White-Paper-GE.pdf&type=subsite since I no longer see it on your website https://trianpartners.com/white-papers/), and forcing Immelt to get to $2.00 EPS? He gave away ~$50 billion through stock buybacks trying to hit that bad EPS target number, you crusty old jagoff.
That decision was made with heart, whose trust was ultimately betrayed.
"We make a mistake about once every 25 years. So you guys can relax, for another 22 years everything's going to be cool," Peltz said.
That's enough reassurance for me!