GE to restate two years of earnings by April 13

How far will the stock fall now? What does this do for the pension funding?

CNBC

General Electric said on Wednesday that it planned to provide restated results for 2016 and 2017 to reflect a new accounting standard by April 13.

The updated accounting standard takes into account revenue from long-term contracts, which are being scrutinized by the U.S. Securities and Exchange Commission.

GE had said in February that it expected to take a $4.2 billion accounting charge as it switches to the new standard.

The company also said it would report its first-quarter earnings on April 20 under the new standard and that it would have no impact on its 2018 forecast.

https://www.cnbc.com/2018/04/05/ge-to-restate-two-years-of-earnings-by-april-13.html

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After the last few years of earnings are revised and public along with the Q1 results, the stock will get down into the single digits somewhere in the $7/8 range before getting booted from the DOW.

Only then if GE sells enough parts of the business off to generate urgently needed cash will the stock be worth buying.

$20B in businesses might not be enough so don't be surprised on any parts of the business you thought in the past were safe.

Leadership will try to keep Aviation for the long term but the rest of the businesses are up on the block for sale especially as some of the businesses leadership wants to sell don't have many interested parties or would cost the company more to sell than just run off or shut down.

The insanity of the cash buy back of stock over the last many years as well as bad decisions on buying Alstom and the Baker deal along with the Long Term Care Insurance and Pension risks will continue to cause leadership issues for years to come as there is no easy solution to the present problems.

Wasn't Miller previously the Chief Accounting Officer??? Much of the improper accounting was under her watch and her successors. It is really a good sign that things are changing now that she is ... CFO of the whole f'n company.

Five cliches in two sentences. That's good but you've done better.

Those who think their pension won't go up in smoke are in for a rough ride so hold onto your hats. This is going down to the knuckle and won't end well.

Super seriously.

We're telling the truth this time. Seriously.

My pension is threatened? Ooooh no... I better talk to the Union. They'll save me!

Imelt and his cronies should be held criminally liable and need to be sued by investors for monetary loss.

Kiss your pension goodbye folks. It's game over.

The only way for GE to get healthy is to go through this accounting process. We only wish it was done sooner.

It could go as low as the 2009 lows as cash flow is a serious risk now and the only option is to keep selling off parts of the business.

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GE to restate two years of earnings by April 13

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