GE CEO: Worst is behind us, momentum building

Good News for those still employed!!!! Maybe the layoffs will stop after all the damage created,

"Shares of GE have been battered this year, down nearly half from the 2020 high, as the industrial conglomerate has struggled with the impact of the coronavirus pandemic on many of its end markets, not to mention the ongoing efforts to turn the struggling company around after years of missteps.

Today, investors seem to have reacted positively to CEO comments at an investor event. Reports say that CEO pointed out that the second quarter is likely to be the worst, and in the second half of the year, operating cash would likely turn positive after burning $3 billion in free cash in the first six months.

Investors are taking CEO at his word, but GE investors have heard "We are getting there" from management before. Will things (finally) be different this time?"

https://www.fool.com/investing/2020/09/16/sp-500-takes-a-tech-tumble-general-electric-oil-st/

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8 replies (most recent on top)

GE dropped Coal for one of two reasons. Either they couldn't afford to keep it (We're going Bankrupt) or it wasn't making them any money (Preventing us from going Bankrupt).

Oops....Stock back down on exiting coal....

Will this impact more people? Soon there will be no one working at GE!

Did you say, Momentive? It's the same int'l union.

Didn’t take him long to learn “GE Success Theater” they teach at Croutonville. I created the curriculum. Keep a happy face, create self aggrandizing articles in the Harvard Business Review, and cook the books! Don’t pay attention to the billions in pension and long term disability insurance liabilities that are out still out there. Learn the GE vernacular: “pivot or persevere”, “ that’s a long putt”, etc. Make sure you continue to have more finance people on the staff than engineers, and keep the books a complicated as possible so the analysts can’t understand them. Squeeze your suppliers with onerous terms like paying them in 120 days. Good luck, I’m enjoying my giant pension and golden parachute.

He is trying to get it closer to the revised share price so he can reap his millions. Doesn't give 1 F about the company, employees or the communities. Yeah for the 1%ers and corporate greed at the top

Once we get positive cashflow, we can do a stock buyback to artificially boost the stock price.

Cash flow will be better once the layoffs happen in October.

Smoke and mirrors keep resume handy

Thread regarding General Electric Co. layoffs

GE CEO: Worst is behind us, momentum building

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