General Electric Company (GE)

[Prudent Capitalist]

GE's share price is very important here, and is the reason Immelt was forced out. In spite of the markets setting record highs this year, GE is trading below where it traded when Immelt took over in 2001. Let that fact sink in folks. Immelt's tenure was a total disaster here. CNBC put up several charts this morning showing how GE is the worst performing stock in the DOW over Immelt's 16 year tenure, and they put up several other charts comparing GE's share price performance compared to Honeywell and other of its peers over Immelt's tenure, and GE was like a flat line. All the others had done very well over that 16 year period in spite of the market melt down in .08 and .09.

Again: The plain fact is GE's share price, even with today's bump, is below where it was when Immelt took over in 2001, in spite of all of the overall market highs over that time frame.

Today is great news for GE investors, in particular those longer term investors who have held the shares since Jack Welch was Chairman and CEO, who hope to one day at least get back to break even.