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2008-10-02 Home Front Economy

GE to raise $15 billion, Buffett gets preferred stake

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Posted by Fred 2008-10-02 00:00|| || Front Page|| [1 views ] Top

#1 I have some of this stock in the retirement portfolio. The company is fairly well diversified. Lately, GE has gotten in "Green Initiatives" for political correctness as far as I can tell. I have seen it go down, down, and then down some more. Investors have remained worried about the troubles at GE's vast finance arm. Nearly half of its profit comes from a loan and lease business. I don't think the stockholders have been well-served by CEO Jeff Immelt. He tried to sell off the appliance division which in the past has been a good part of the business. The strength of the company in the past has been research, innovation, and manufactured products such as jet engines, locomotive engines and electrical products. They need to get out of the fake paper business and develop some cash reserves. Maybe Buffet will have enough ownership to straighten this company out. Buffet is a hard-nosed, no-nonsense business man. He doesn't spend a dime that he can't get a return on it.

Posted by JohnQC 2008-10-02 08:17|| 2008-10-02 08:17|| Front Page Top

#2 Immelt didn't make GE a bank in two years. If you've got issues with what GE has become, you should be talking about Welch.

Posted by Nimble Spemble 2008-10-02 09:00|| 2008-10-02 09:00|| Front Page Top

#3 Agreed, Welch did not serve the company well.

Posted by JohnQC 2008-10-02 10:00|| 2008-10-02 10:00|| Front Page Top

#4 "Neutron Jack" did serve GE well, at the beginning. Unfortunately he kinda forgot why he was put there.

Posted by Pappy 2008-10-02 11:00|| 2008-10-02 11:00|| Front Page Top

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