Author Topic: GE - General Electric  (Read 82446 times)

LongHaul

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Re: GE - General Electric
« Reply #260 on: December 16, 2018, 10:24:21 AM »
That was an AWESOME WSJ article on GE.  Thanks for posting Liberty.

There are real businesses there.  It is extraordinarily hard to know the real profitability of GE because I think their accounting was aggressive.  My opinion is that the culture was a really rotten one.  Power seems a very large part of the issue - not sure how much.

My opinion - $10b is likely a fraction of the issues here. 

It is also interesting to note that GE took on very long term liabilities with the LTC insurance and got completely hosed.  Super risky.    Then GE turns around and does a lot of long term deals (20+ years) in power (some for apparently uneconomic prices).   This is just insanity.

Sam Walton had a simple and effective philosophy when he ran Walmart.  He told the truth.





Spekulatius

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Re: GE - General Electric
« Reply #261 on: January 31, 2019, 04:27:20 AM »
Looks like stock is trending upwards, despite what looks like horrible results:
https://finance.yahoo.com/news/general-electric-swings-small-profit-113647216.html

Expectations must be really low.
To be a realist, one has to believe in miracles.

WneverLOSE

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Re: GE - General Electric
« Reply #262 on: August 15, 2019, 09:46:14 AM »
The gefraud.com website is broken at the moment, did anyone manage to get the report and can share it ?

any thought from reading it ?

edit : CNBC posted it http://fm.cnbc.com/applications/cnbc.com/resources/editorialfiles/2019/8/15/2019_08_15_GE_Whistleblower_Report.pdf
« Last Edit: August 15, 2019, 09:51:38 AM by WneverLOSE »

Foreign Tuffett

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Re: GE - General Electric
« Reply #263 on: August 15, 2019, 09:55:47 AM »
I tried to attach, but I think the file is too large.

As John Hempton has pointed out, some of the slides are nonsensical.

http://brontecapital.blogspot.com/2019/08/the-flat-out-silly-markopolos-ge-report.html


Spekulatius

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Re: GE - General Electric
« Reply #264 on: August 15, 2019, 10:17:07 AM »
Same idea than Burford short - pick a company with troublesome accounting  and probably a shareholder base with weak conviction and pick a time with poor market sentiment  Now add a twist and pick a high profile “ investigator”, even though he appears to bring nothing to the table than name recognition and start a short attack: Ca-shing!
To be a realist, one has to believe in miracles.

Cardboard

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Re: GE - General Electric
« Reply #265 on: August 15, 2019, 11:47:30 AM »
Druckenmiller says that he bought some on this drop: believes Culp.

I am thinking to sell puts on this one.

Cardboard

Gregmal

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Re: GE - General Electric
« Reply #266 on: August 15, 2019, 11:53:15 AM »
I would think...we've seen this before. I am not a fan of GE, but for those whom are, I would consider this a gift. Markopolis is being paid by a hedge fund who is short. Thats all you need to know.

Normax59

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Re: GE - General Electric
« Reply #267 on: August 15, 2019, 12:58:06 PM »
I hesitate to dip my toe into the inter-workings of legal corporate structure and consolidation but:

The BHGE part of the report makes little sense to me, they seem to be conflating the consolidation of the VIE named BGHE LLC and GE consolidating the BHGE listed co because it holds a  50%> voting interest in the listed co.

First GE owns a 50.4% stake of BHGE LLC which is the VIE that has the operating assets of BHGE but they don't have any influence over how those assets are operated, that is under the control of the BHGE listed co. which owns the other portion, because they actually control the assets, even with a minority stake in the VIE they would consolidate the VIE.

Now GE has a 50%> voting interest in the list co through their shares so they would consolidate the list co on their balance sheet.

I believe Harry is trying to say that GE and BHGE are consolidating the same entity, they are not.

Just my two cents.
« Last Edit: August 15, 2019, 01:23:50 PM by Normax59 »

Liberty

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Re: GE - General Electric
« Reply #268 on: August 16, 2019, 06:41:37 PM »
"Most haystacks don't even have a needle." |  I'm on Twitter  | This podcast episode is a must-listen

WneverLOSE

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Re: GE - General Electric
« Reply #269 on: August 16, 2019, 11:06:09 PM »
I highly doubt his claims but all I have to do to find out is wait for 2020 and see if they are bankrupt like he says, Culp is a fantastic CEO and a human being, he knows GE very well and his word is as good as a bond to me.
It would be one of the greatest human tragedies if he left Danaher, went to GE and then to prison for accounting fraud, I know sometimes smart people do dumb things but this will take the cake as far as I am concerned.