The more GE has cash burn, the more Culp has heart burn!!!

Latest news: https://www.marketwatch.com/story/ges-stock-loses-more-than-10-in-2-days-after-ceo-larry-culp-warns-cash-burn-will-increase-2020-05-29?mod=home-page

"$2 billion in cost cutting, and $3 billion in cash conservations actions, not enough"

“We, at this point, think in the second quarter, we’re going to see our free cash flow number come in at a negative level, probably in the $3.5-to-$4.5 billion band, as best we can tell today,” Culp said.

In the first quarter, the company’s cash burn came to $2.2 billion.

The FactSet consensus for free cash flow is now negative $5.11 billion, compared with a negative $4.02 billion consensus about a week ago.

I'm sorry, more of you have to go! Any bad news for this heartless company, is good news for me.

Europeans are better. If they have pay cuts, everyone gets a pay cut of 10%-30%. Unlike the selfish Americans. More firings.

What Culp didnt mention is DJ still gets his $15 million and Culp gets back his $21 million next year.

For those who said "fake news", just wait for your turn. ;)

Comment! It's anonymous!

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If company goes under your pension is frozen at what you where guaranteed for the date of original retirement. However if you are quite a few years from retirement the monthly amount won't look as good because of inflation.

Perfect! I’ll have my healthcare and pension supplied to me by the fed by the time I retire. What’s could possibly go wrong with that? I bet I’ll be guaranteed to live a long healthy life too!!!

Please stop w/the pension nonsense. It is guaranteed by sources outside GE and backed by the Feds. Unless your pension is gonna be over $6k/month, you’ll not even see a reduction if GE went under. Very few pensions are over $6k/month. VERY few.

worse part is that there is no end in sight. no businesses generate cash and will not for quite some time.

More layoffs for Schenectady and power for hourly workers is a 100% given.

I heard a rumor that GE is formulating a plan on for offering to buy us out of our pension. Either accept the offer or run the risk of the your pension going broke while retired or worse, before you retire. Older people will probably be okay but you 40 somethings and younger probably won’t find a pot of gold at the end of the rainbow. Better get your affairs in order.

Everyone knows there are more RIF's coming, your rumbling, bumbling, stumbling rant about how much the exec's make isn't going to change that. So is there anything other than the fact you don't like American workers, that you want us to know?

More fake news, especially the part about "fake news"!

Thread regarding General Electric Co. layoffs

The more GE has cash burn, the more Culp has heart burn!!!

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