Tuesday, March 17, 2015

GE CEO pleads with investors not to can him

Jeff Imelt, CEO of GE, is running a massive shadow bank which is engaged in the scam of vendor financed sales.  Without GE capital being there to finance sales, sales will plummet eventually and when their "customers" walk away from the debt payments, GE will finally be exposed for what it is: a giant scam.

In the mean time, GE shareholders (patsies) are getting tired of seeing other companies get ahead while GE languishes.  They see Imelt divesting and they know this is the sign of a company in retreat, not growth.  They also know that if they sell their shares that it will begin a share price collapse.  So instead they are pressuring Imelt to break GE up and sell it off while the economy still has not officially entered a depression. 

Of course, that would put Imelt out of a job and job 1 is always to stay in power regardless.  So Imelt is out trying to talk up his book (the failed debt financed conglomerate model).  I don't think he has a chance of convincing anyone.  If it was going to continue working it would already be showing signs of life instead of being on a decline since Y2K.  I don't know when GE will finally collapse but the warning signs are beginning to add up: high debt, very low cash, constant divestitures, unhappy shareholder and CEO on the defensive.  To say nothing of a pathetically low Altman zscore which currently reads 1.54 according to gurufocus.com:

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