Q4 / ER will be tough as well despite Q3 being thought of as a kitchen sink qtr.
At this point, there are one of two immediate actions that can boost the stock:
1) Flannery retires and Board hires external CEO
2) Flannery gives up Chairman role and Board hires a respected leader to assume Chairman role
Bring in Dave Cote, he would be happy to fire a bunch of executives and clean up the board.
may be GE should start its own Crypto currency; afterall they do have a nice logo which looks like a coin and have been in the business of casting and stamping parts with the "meat ball" logo and these can be made by AM also...!
If they wanted to fulfill the pension obligations they could have not paid $34 billion to buy baker Hughes and then we wouldn't be in this mess.
Are you serious put in Krenicki in there instead of Immelt. Those two are clueless as the day is Long in June in upstate NY.
Flannery is now stuck with some serious decisions. I have not heard one word of the offshore money GE has parked in some back or investment. Why can’t they use some of the money to fund part of the pension obligations?
The Board should have given I Melt the boot years ago and put in Krenicki instead of allowing I Melt to get rid of him
In other news....
Ghosn, 63, is an industry luminary, having saved Nissan from near-collapse and spearheading the globalization drive that currently unites carmakers across continents. Stepping down at Renault, where he has been CEO since 2005, would leave him without a group CEO title at any carmaker for the first time since 2001.
The clowns are the criminals running this company. There are many skilled people at the company that will find jobs outside with no problem. We just want to see you arrogant stupid greedy execs behind bars where you belong.
improved cost structure, cash flow, earnings = continued paralysis and will take years and continued stock decline.
External CEO who would you hire? What business sector?
Bring back Welch? pass along the doob! Don't you people understand he started the financial manipulation?
If you clowns worked a little smarter instead of blaming everybody else you wouldn't be in this mess. Best solution is bankruptcy then you can stop whining.
We didn't have a cost, structure, cash flow problem. We had and have a fraud, greed, and theft problem. That gets fixed when the execs do some prison terms. Future managers may think twice before placing their hands in the pockets of the employees.
Bring back Jack Welch as temporary CEO for one year.
I think that would be a signal to the market that the Board is panicking and things must be much worse than announced. No way this is going to happen after just 6 months in the role. Only thing that is going to drive up the stock price is improved cost structure, cash flow, earnings.