Unbelievable. We are in deep doo-doo (Jamie Miller is simply awful)
https://seekingalpha.com/article/4140230-ges-conference-call-zinger-edition
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GE stopped bringing good things to life and started pretending to be a digital company. The employees drink their own kool-aid thinking they are so much better than other companies out there. So many people cycle through GE to move on to other companies that are far more innovative, profitable, and treat their employees better. This gig is about the guys at the top who made millions of dollars off the backs of the people who put in countless hours. So glad I am gone from there.
Unbelievable synopsis and brings out the GE (bullsh_ __ ) speak that was accepted for years. Best part is the end that sums it all up.
With an investors conference in November, and then huge write downs in the multi-billions in January, I have to wonder what else has been hidden or undiscovered from current management.
My feeling is that this is simply going to get worse before it gets better. A share price in the low teens or even single digits would not be shocking.
Bottom line is whether Flannery and team are sincere or not (in comparison to the former leadership team) is of little consequence. They really have no idea what else is out there. This all from a company that touted its financial processes, Corporate Audit Staff, integrity, erp rationalization to provide not just reduced costs but improved decisioning.
The future does not look like it will bring good things to life