Is GE about to go bust?

www.opednews.com...

I've been watching this stock very closely since early October, and something is definitely off here. This is the co. that Buffet sank 1/2 billion of his own dough into only a couple of odd months ago.

"General Electric (GE), the legendary American institution, founded in 1878 by Thomas Edison, is in deep trouble. Its PR machine has been in constant spin mode as the company sinks deeper into despair. It is one of the few companies in the U.S. that still retains a AAA rating. Considering Moody’s and S&P’s track record, rating companies and financial instruments, that AAA rating is not worth the paper it is written on. One look at GE’s balance sheet will convince you they do not deserve a AAA rating. AAA companies do not need to take the desperate actions that GE has taken in the last few months."

"CEO Jeffrey Immelt, who took over from icon Jack Welch in 2001, has made his mark by managing the company to a 68% decline in its stock price. You will not see anyone on CNBC take a hard look at GE’s financial statements or ask the CEO tough questions, because Mr. Immelt signs their paychecks."

JK

If this happens it would bi ironic and sweet justice for some who made uneducated choices in the stock market following shills on CNBC. GE makes war stuff too don't they? I'd have for a bailout to include manufacture of devices for killing and subjugating. Can't we focus on making products that improve our lives? not a big GE fan.

Originally posted by stikkinikki

If this happens it would bi ironic and sweet justice for some who made uneducated choices in the stock market following shills on CNBC. GE makes war stuff too don't they? I'd have for a bailout to include manufacture of devices for killing and subjugating. Can't we focus on making products that improve our lives? not a big GE fan.

They have a *HUGE* finance arm - that's your target cause here.

JK

They are making money hand over fist.
they are one of the leading wind turbine and solar manufactures in the world.
www.gepower.com...
www.gepower.com...
www.ge.com...

I would be buying there stock now while the price is low.
They can only go up under the democrats.

Sounds like someone is trying to manipulate there stock value to drive it down so they can buy more.

Originally posted by ANNED
They are making money hand over fist.
they are one of the leading wind turbine and solar manufactures in the world.
www.gepower.com...
www.gepower.com...
www.ge.com...

I would be buying there stock now while the price is low.
They can only go up under the democrats.

Sounds like someone is trying to manipulate there stock value to drive it down so they can buy more.

ANNED

I hope you are right, but unfortunately the action on it's stock price seems to be telling us a different story.

Also, S&P cam out yesterday and said there is a 1 in 3 chance they will be reducing GE's AAA rating in the near term.

www.bloomberg.com...

“The priority concern from our perspective are the earnings prospects of” GE Capital Corp., S&P analyst Scott Sprinzen, who follows the finance arm, said in an interview. “And we know that they operate in a cyclical business, and that we’re in the midst of a cyclical decline. To some extent, that’s factored into the ratings. It seems that this is unfolding as an extraordinarily severe downturn.”

GE Capital would have to fall “well short” of the $5 billion in net income forecast for next year for S&P to reconsider the rating, Sprinzen said in the interview.

GE declined $1.43, or 8.2 percent, to $15.96 at 4:15 p.m. in New York Stock Exchange composite trading. Credit-default swaps on GE Capital rose 20 basis points to 415 basis points after reaching a one-month low of 395 earlier today, according to broker Phoenix Partners Group.