GE Cuts Dividend [Immelt admits hell can freeze over...]

[GRG55]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

I'll have Fox on this morning. I wonder if I'll hear; "You need to stick with high quality dividend paying stock in this enviornment."

When you find one of these please do let us know...

[cjppjc]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

When you find one of these please do let us know...

No can't think of one I'de put my money in off the top of my head. I remeber a good line from Jim Rogers. "I wouldn't invest YOUR money there." Did hear some guy recommend something saying it couldn't go much lower. Then Cavauto reminded him he said the same thing about that stock last year and it's down 35% since then.

Ahhhhh expert financial advise.

[photoncounter]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

I bought GE for the same reasons and at the same price. I bought it when I was not an ituliper and when I did not know about their % earnings from GE finance (noob investor then and now). It is one of those stocks that i did not part with. I am assuming that GE won't go under and hence I am still holding to it. Any thoughts ?

I bought GE not too long ago at $31, give or take, and now GE is in the toilet. Exactly the question to ask: "How does Immelt still have a job?"

I bought GE because I like atomic energy, I like turbine production, even wind-mill turbines, I like the effort of GE in hospital technology; mostly, I admire GE as a company which PRODUCES real and useful things.

Obviously, GE getting involved in credit cards and the F.I.R.E nonsense economy of the U.S. was a HUGE mistake. What kind of leadership does this company have? And Immelt, after making mistakes like this, still drawing his huge executive salary, just irritates me to hell.

When one looks at the train-wreck in the world economy, especially the American economy, one has to wonder about the corporate leadership to-day; and why are these failed corporate leaders still around? Witness: the auto companies in Detroit, the biggest banks in the U.S, G.E, etc.

[GRG55]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

I bought GE for the same reasons and at the same price. I bought it when I was not an ituliper and when I did not know about their % earnings from GE finance (noob investor then and now). It is one of those stocks that i did not part with. I am assuming that GE won't go under and hence I am still holding to it. Any thoughts ?

The US government has already started to provide financial support for GE. It has the advantage that it has some excellent businesses that generate cash, but those businesses will suffer in the global depression now starting. The dividend cut was the correct move, although it was late, and they should have taken the dividend to zero.

If things get really bad, the US government will bail out GE, be sure of that. However, in that event there may not be anything left for the shareholders. Certainly that is the greatest, and most difficult to assess, risk at this point.

imo there's better ways to play the "infrastructure boom", if it ever actually comes to pass, than GE. The beat up engineering companies may be worth running the slipstick over.

[photoncounter]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

The US government has already started to provide financial support for GE. It has the advantage that it has some excellent businesses that generate cash, but those businesses will suffer in the global depression now starting. The dividend cut was the correct move, although it was late, and they should have taken the dividend to zero.

If things get really bad, the US government will bail out GE, be sure of that. However, in that event there may not be anything left for the shareholders. Certainly that is the greatest, and most difficult to assess, risk at this point.

imo there's better ways to play the "infrastructure boom", if it ever actually comes to pass, than GE. The beat up engineering companies may be worth running the slipstick over.

Thanks GRG.
I found out about the % of GE's income from it's financial arm atleast 5-6 months back, but just couldnot pull the trigger. I guess I learnt my lesson. I am just glad that last year was the beginning of investment activity for me -- hence the damage done is minimal, so far :p .

[Milton Kuo]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

I haven't seen anyone reference this quote from GE's Jeffrey Immelt yet but I wonder if Corporate America is finally going to seriously consider re-industrialization and not focus so much on the silly financial games that got us into this dire mess.

I believe a popular, 30-year notion that the U.S. can evolve from being a technology and manufacturing leader into a service leader is just wrong.

The above quote is from the following Bloomberg article: GE’s Immelt Accepts Responsibility as Shares Fall

[GRG55]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

Thanks GRG.
I found out about the % of GE's income from it's financial arm atleast 5-6 months back, but just couldnot pull the trigger. I guess I learnt my lesson. I am just glad that last year was the beginning of investment activity for me -- hence the damage done is minimal, so far :p .

I assume you've been following the GE discussion on this thread:

http://www.itulip.com/forums/showthread.php?t=8494

[photoncounter]

Re: GE Cuts Dividend [Immelt admits hell can freeze over...]

I assume you've been following the GE discussion on this thread:

http://www.itulip.com/forums/showthread.php?t=8494

Yes, I am. Thanks.