General Electric Co.'s longer-term issuer default rating (IDR) was downgraded two notches to BBB+ from A at Fitch Ratings. The move, which puts GE's rating at just three notches above "junk" status.
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The GM bankruptcy used all sorts of bankruptcy law loopholes and had Obama chroney deals to favor union voters.
No one will bail out GE though. Not in this economy. It’s proof positive GE is a fallen house of chorney cards.
I don’t want my tax money bailing this place out and I still work here.
Is that the plan behind isolating gas power business into its own unit? So it can be reorganized just like GM us division, just as it's international unit made money?
We can't raise equity since we are under SEC investigation; it will be harder to raise debt with downgrades and eventual junk status; economic downturn just around the corner. Not looking good.
GE needs to go the route of GM and split and file for bankruptcy for 1 entity