Ok someone needs to explain this to me, how on earth we just discovered that we had 15B liability. We always have this clowns of CAS around and I was always sure that their only business is BS, lie, take other people work. Now I want to see them answering this questions and primarily their VP if he cannot and i am sure he will not then all of them should be fired right away and this bunch of kids returning to do their school chairs.
just opinion
Better solution, keep promoting CAS into higher roles. Oh that's right, Janki is now leading strategy. Great move!
Look, this problem have developed over a number years. JF is at helm, he will need to deal with the crap storm. I am fine with SEC investigating every part of GE. Recall they took Government bail out money during the financial crisis. It was funny that they quickly down sized GE capital and are no longer a SIFI. This was all so the Fed’s would not regulate them as a non bank. Did we all forget this? These folks at the corporate level are nothing more than a bunch of crooks. It is about time their accounting and book keeping are going to be scrutinized. They have done nothing but screw GE employees for years to line their own pockets. I say, being on the federal investigators and fine the hell out of these folks and better yet fine senior staff for misleading share holders.
Capital had its own internal audit team, CAS hasn't been allowed to audit Capital for a long time now... but this seems mostly a miss on the accounting team and KPMG...
CAS Children Apt to Swindle
Where is the SEC? As JF keep saying unacceptable, he should fire CAS VP. He failed to prevent or foresee this issues coming. CAS VP job is to make sure that share owner are not being lied to. Well with all this stories about Jeff jet's gate, 15b and many other sh-- coming down the road he greatly failed
That was CAS and GE Financial's job...play with the numbers to hide inconvenient truths until a later date, after those who set up the scheme took their cut and left
Oh, and the solution? Canning employees hoping to reduce present and future HR liabilities. In the meantime, JF broadcasting videos to employees moving his hands to emphasize what is obvious...he is still discovering unpleasant surprises under every rock he is allowed to turn.