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GE is sinking because of Immelt's reckless tenure, inlcuding the purchases of Alstom and Baker Hughes.
by supsep 7y ago
GE is sinking because of Immelt's reckless tenure, inlcuding the purchases of Alstom and Baker Hughes.
- H8crilA 7y ago> The issues outlined by Markopolos lie primarily in GE's troubled Capital unit, a financial services division often seen as a black hole in the company. The Capital unit holds commercial and personal loans, as well as insurance policies that include coverage of long-term care. > In his report, Markopolos suggests that an accounting rule change for insurance liabilities and a significant lack of reserves to cover long-term care liabilities will push GE to take a $29 billion hit. While GE called the report meritless, an analyst said the allegations reflect "a GE culture that historically hid losses and deceived investors."
- deleted 7y ago[deleted]