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Fire sale @ GE

mogley98
Down below 8 bucks a share and while new CEO Culp says they will sell assets to reduce debt, everyone knows they need cash and will obviously make low ball offers on any asset sales in my opinion.

Besides once you sell off significant portions of the company is their enough left to turn a profit, pay retirement and healthcare promises and invest in future growth?

Hard to say but I am not sure they have enough book value left to cover their debt and the financial guru's predictions ain't helping them.

I have a friend who retired from GE and was relying on his stock shares for a large portion of his retirement income, he held on several years prior to retiring due to the slaughter in 2008 and had since recovered fairly well but I think he may be forced to go back to work.

Like Sears some of these old name companies simply can't keep up, i wonder if ATT is next?
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Comments

18 comments

Date Votes
  • mag00
    Those old name companies were bought out by smaller name companies. ATT is Bell, Sears is Kmart.

    The $4 question is how low will the stocks go, will there be bankruptcy or sell off?

    First thing google serves up:

    Vivendi bought 20% of NBC forming the company NBCUniversal. GE then owned 80% of NBC Universal and Vivendi owned 20%. By January 28, 2011 GE owned 49% and Comcast 51%. On March 19, 2013, Comcast bought GE's shares in NBCU for $16.7 billion.

    https://www.nasdaq.com/symbol/ge/institutional-holdings
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  • Marc1301
    One of the biggest mistakes in investing is to put a significant part of your retirement into the stock of the company you work for. A recipe for disaster usually.

    If you want to hold a small position,.....say 2 to 4%, that's fine, and mimics a regular well diversified portfolio.

    In recent years I have been in and out of GE a few times as a swing trade, but I wouldn't even consider going long.

    T will be around for awhile, albeit with very minimal growth. They even seem to be blowing the Time-Warner acquisition so far. I still hold some for the dividend, but keep a close eye on it, as well as keep sell stops in place.
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  • mag00
    Still dropping, I may put in a buy order if it hits $7. "Experts" predict $6
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  • austin20
    My mom sold a ton of GE back in July, thanks to a sharp broker
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  • Rack Ops
    GE is on my watch list. Some are calling a bottom at $5.
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  • BikerBob
    I was watching until they cut the dividend. So now it?s all based on the stock price.
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  • mag00
    quote:Originally posted by Rack Ops
    GE is on my watch list. Some are calling a bottom at $5.


    Wow, that's pretty cheap. Do they explain the metrics as to why they think $5? I guess it's not much off the $6 other are saying.

    Will just have to keep paying attention to this one.
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  • sharpshooter039
    quote:One of the biggest mistakes in investing is to put a significant part of your retirement into the stock of the company you work for.

    Never believe a Company is too big or old to file Bankruptcy,,I worked for Owens-Corning for years and when they filed Bankruptcy in 2000 it hurt a lot of their employees,, We all had been summoned to a large Company meeting 6 months before the Bankruptcy where everyone was assured it would not happen and asked to put as much of your 401K into company stock to help push it over the hump.. The Managers in these meetings carried the message to their people and so on,, Thousands of people lost their retirement because of this. Later it was found out they already had the paperwork in the making when they called the meeting
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  • Rack Ops
    quote:Originally posted by mag00
    quote:Originally posted by Rack Ops
    GE is on my watch list. Some are calling a bottom at $5.


    Wow, that's pretty cheap. Do they explain the metrics as to why they think $5? I guess it's not much off the $6 other are saying.

    Will just have to keep paying attention to this one.


    Honestly. I can't see it going that low, as people will start buying it up before it gets to that point, but here is one article I found.

    https://www.cnbc.com/2018/11/05/this-analyst-sees-ge-shares-trading-as-low-as-5.html
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  • Missouri Mule K30
    quote:Originally posted by sharpshooter039
    quote:One of the biggest mistakes in investing is to put a significant part of your retirement into the stock of the company you work for.

    Never believe a Company is too big or old to file Bankruptcy,,I worked for Owens-Corning for years and when they filed Bankruptcy in 2000 it hurt a lot of their employees,, We all had been summoned to a large Company meeting 6 months before the Bankruptcy where everyone was assured it would not happen and asked to put as much of your 401K into company stock to help push it over the hump.. The Managers in these meetings carried the message to their people and so on,, Thousands of people lost their retirement because of this. Later it was found out they already had the paperwork in the making when they called the meeting


    Absolutely, the play book to retire their obligation to their lifelong employees. Now if the managements assets are comingled with the employees retirement assets there would be a more conservative approach to company health.

    But with new technology and the risk assessment to develop, if the company does not make the correct move, direction, then one move can hurt the company that is overly diversified. Too many Divisions
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  • mogley98
    I think I could sell off GE and do better than 5 bucks a share but who knows.
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  • Grasshopper
    quote:Originally posted by mag00
    Still dropping, I may put in a buy order if it hits $7. "Experts" predict $6


    You will get your buy order, overgrown mismanaged pig. IMO, your money
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  • nmyers
    I'm so relieved that Jack Welch got his $417 million retirement payout. Plus, free lifetime use of a GE condo in Manhattan, & use of a helicopter & limo.

    I'm guessing that Immelt will have an even better package. Too bad none of them worry about retired employees.

    Neal
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  • Bubba Jr.
    quote:Originally posted by sharpshooter039
    quote:One of the biggest mistakes in investing is to put a significant part of your retirement into the stock of the company you work for.

    Never believe a Company is too big or old to file Bankruptcy,,I worked for Owens-Corning for years and when they filed Bankruptcy in 2000 it hurt a lot of their employees,, We all had been summoned to a large Company meeting 6 months before the Bankruptcy where everyone was assured it would not happen and asked to put as much of your 401K into company stock to help push it over the hump.. The Managers in these meetings carried the message to their people and so on,, Thousands of people lost their retirement because of this. Later it was found out they already had the paperwork in the making when they called the meeting


    A good friend of mine and his wife both worked for Corning. Then they shut down the Greenville glass plant. They lost over $250K. My former next door neighbors also worked for Corning. They also lost a bundle of money. [:(]
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  • spasmcreek
    GE appliances sold to HAIER in china for $5.4 BILLION in 2016...to retain amost manufacturing in the USA with 40 year right to use the name....still it is chinese owned ???......so profits go out while most employees are here
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  • yoshmyster
    Love to get a Mini-Gun and a crap load of incandescent light bulbs of theirs.
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  • nmyers
    Does GE still own the patent & presses to make synthetic diamonds? Or, did they make a deal with DeBeers?

    Neal
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  • spasmcreek
    DeBeers after controlling most of the worlds diamonds, even snagging Russian production is now making and selling lab diamonds ..about 1/10th the cost of real......
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