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str8_chuter

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str8_chuter

Re: Prudent Capitalist post# 3991

Thursday, 08/17/2017 3:31:56 PM

Thursday, August 17, 2017 3:31:56 PM

Post# of 11959
Amen to your post.

Immelt jacked up leverage to the gills. Company now sits on approx. $100B in long-term debt. Used proceeds to buy back shares well above current prices. Destruction of shareholder value.

At the same time the CEO stuck his head in the sand, ignoring the underfunded pension. Now the largest pension deficit in the S&P500.

This one will be very difficult to break up. The liabilities are just too large. Potential buyers will be loathe to take on those obligations.

So what does the new CEO do? Likely announce tens of thousand layoffs.
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