Well the stage is set for GE to declare bankruptcy. I Melt Your Stock Portfolio. ( inside joke for Immelt). Now has a new name. I Melted Your Company. Hope the new guy has the brains, guts and stamina to correct this train wreck of the once most admired company
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Based on latest financial disclosure General Electric Company has Probability Of Bankruptcy of 48.0%. This is much higher than that of the Industrial sector, and significantly higher than that of Diversified Industrial industry, The Probability Of Bankruptcy for all stocks is over 1000% lower than General Electric.
Calm down. The drilling business isn't on its knees. It may not get back to where it was, but there will be drilling. If you exist in a smaller market you want to be a top 2 or 3 player in that market which GE became with the acquisition of BH. All the while you hedge against the possibility of that drilling market going away by owning a business in the market that will replace it. GE has that too in it's renewable business.
What GE's doing with sell-off of small margin non-strategic businesses should have been done about 10 years ago, so its behind on its plan, but it's making the right moves, finally.
Too little too late, even if Flannery had what it would take to save this company. GE has about Barbuda's chance in Irma of making it.
Immelt made so many strategic mistakes, he truly killed this great company
So why buy baker Hughes when the drilling business is on its knees and may not recover.