My guess is that Larry is reviewing the numbers to cover himself and also looking for a new CFO
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He was at schenectady this weekthe visiting sites wasn’t a lie
1 week will get nothing. he should delay for a year. things are only going to get worse
To prepare his first earnings call with due diligence.
He has been in the role for 2 weeks, going into a call where questions on the Goodwill, cashflow and lower earnings will be questioned. 1 additional week so he can conduct his own deep dive is not surprising.
For a new officer to ensure that no information hidden because this is just a quarterly report, one week delay is very reasonable.
Something occurred in the nine weeks between July 27 and October 1, 2018, to cause the fair value assessment of GE Power segment to decrease by ~$30 billion, resulting in a goodwill reduction of $23 billion, and the replacement of the CEO. My thesis is, the GE audit committee, in reviewing the Power fair value calculations, found the board had not been informed of the full extent of the problems at Power. Furthermore, I believe it was only because management had to provide projected yearly cash flow numbers far into the future, for the purpose of fair value calculation, that the audit committee became aware of the extent of the problem.
https://seekingalpha.com/article/4211197-ge-simple-valuation-exercise-brought-ceo-fortune-500-company
Visiting sites? Here we go again with the same lie algorithm.
cuz they will be bad.
i heard he is out interviewing replacements for Russell and Jamie...after they get fired for incompetence and intentionally misleading the board.
Who delays earnings?
OMG....
Trying to collect all the bad news. Every CEO gets one chance to blame his predecessor.
Stated reason is he is busy visiting sites.