GE released its earnings this morning. Apparently beat expectations and showed good strength in its businesses. Do you believe the numbers that were released? Why would anyone with all the prior news related to poor internal controls and systems that are disconnected
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I hear the fish are biting.
@qdy many are bitter current employees. The bitterness is systemic now, and only reduces further the already long odds that GE will be able to recover.
There is little value to be had investing in GE these days, just as there is little value in reading the comments on this website. Most are posted by angry and bitter ex-GE people who don't know what they're talking about. They should move on and get a life.
Managers tried to save money without paying overtime to employees. Work so overwhelming and yet still want to project good work life balance
We are sorry the numbers were so good. I guess you retired union guys were wrong about GE being so bad. Don't worry though. The fish are biting so you can find something to do. Good luck!
GE continues to manipulate the numbers to s---er investors that only look at the numbers. Smart investors would stay far away from GE. GE cannot show a profit without manipulating assets.
Power Profit was only 3.8%
The reason they revised lower 2016 and 2017 was to then allow them to now release some of prior released results now as 2018 and the future. This is exactly why leadership revised prior results as the requirements were only to revise future reporting but this is why they decided to go further and revise the past so they can take future upside from this change.
It will be an ongoing challenge for to determine if current results were already reported in the past before this revision or if they are truly new results.
Power will NEVER be sold. Think about it ..margins on services are some the best in the world! They own 50% of the installed base. What is very telling ; market will continue to be soft for years to come. Translations ..more cost reductions coming. Funny during the earnings call Jamie's indicated that only that $350 million in cost reductions in the quarter were taken out of power. Seems a bit slow for the business outlook.
Jamie Miller "power cash was below plan in the quarter and that is not unusual". WTF .. if that is known, why not adjust your plan prior to developing it? just shows they don't know truly what are the inputs and how to develop a plan
Power is the only one down so badly. I bet they sell or spin off the Power business next.