Jeff Immelt took over as CEO of G.E. on September 10, 2001.
The Stock closed that day at $38.95.
In pre-market trading today, the stock was changing hands at $32.72, down $4.03 (10.97%).
A negative 16% return over the last six years and seven months.
GE is the largest member of the U.S. Climate Action Partnership.
And a huge factor in just about every sector of the energy biz.
So we keep and eye on the giant (see Notable Calls, below).
One of the most disgusting GE stories in our bookmarks is this:
GE gets grant to install GE solar panels on GE headquarters.
The Connecticut Clean Energy Fund assesses a fee on every utility bill in the state. Welfare moms in Bridgeport and Hartford paid GE to install GE solar panels on GE headquarters. Bizarre, huh?
We've had a couple dozen posts* that reference GE, use the "search blog" box if you want more.
Here's Notable Calls take:
GE is getting trashed following weaker than expected results. You have to understand that most of this is coming from the fin. side.
GE's a buy here at $34.
PS: Some perspective from a very smart hedgie:
"..I changed my whole perspective the day... UBS reported a staggering 19Bln charge... WAY more than expectations... and closed the day up$4.."
*Here's one from last July:
Cap-and-Trade Bill Due Soon
Enron's Ken Lay used to be on the Pew Center's "Business Environmental Leadership Council".
I don't know if the Center sent flowers for his funeral.
The Pew Center is a founding member of the U.S. Climate Action Partnership.
Joe Lieberman is the Independent-Democrat Senator from Connecticut.
General Electric Corporation, one of the largest market-capitalization stocks on the board, is headquartered in Fairfield CT.
General Electric is a founding member of US-CAP.
To quote Kurt Vonnegut "And so it goes".
Mr. Vonnegut worked for General Electric.
He was a P.R. flak.
Here are some of his thoughts on GE.