HUGE miss by GE !

the market is stunned: no warning was given. just a few weeks ago immelt was urging people to buy more GE stock. no wonder GE CP was 150 bps above other so-called qaulity stuff. it is hard to overreact to this astonishing development. everyone told us they were immune, they were so careful and cautious and conservative. and surely imMELT had to know something when he was talking up the stock and its earnings just a few weeks ago. now let's see what all the panderers who have been coming on CNBC and promoting GE have to say. comments, thoughts, reactions from the TT community urged and welcomed.

Edited by humble1, 11 April 2008 - 07:16 AM.

holland is on CNBC saying it is a good buy and GE didn't know until the last minute. NOT ! GE gets intraday updates on its earnings from all subs. it is a short right now, imho.

Edited by humble1, 11 April 2008 - 07:30 AM.

I was wondering when we would see the hit in GE, since its finance side has made about half its earnings. A freind who worked for them for years confirmed that they have always managed earnings to be inline, so I would guess this was known and planned - to me it makes sense, have the miss now when everyone is having the same problems, and getit out of the way. That is admit to half of it, since no one is admitting the ful extent of damage. klh

but immelt had told folks that "2008 is in the bag."

http://www.bloomberg...6...&refer=home

no, i don't think this is a one quarter thing; there is a lot more bad news to come out of this lumbering, credit-market-exposed giant. soon the dividend and stock buyback will have to go.

the market cap total loss for funds will be MAMMOTH !

Edited by humble1, 11 April 2008 - 07:54 AM.

GE BITES ! I worked there several years back. One of the most unethical companies I've ever seen in my life. Managed earnings is a "nice" way to put what they do. In most circles I believe it would be more accurately characterized as criminal. They have been misfiring on all fronts for years since Welch left. Not that Welch was a genious. I would bet this miss is more of a result of they simply can't cook the books anymore, and now is as good of time as any to "uncook" them so nobody will know the real reason for the miss. (misses which should have occurred over many prior quarters.) They can clean the slate here and no one will know any better. It's a highly convenient environment for them. They will go back to cooking in a few quarters after the dust settles.

valuable insights, thanks ! some of the recent bs is that all the dropoff came in the last two weeks. okay: they are going to tell us that they lost 15% of projected earnings in two weeks ? i don't think so. this is NO WAY like bear stearns having a run. immelt has lost ALL credibility now. there is worse to come for many, many quarters. i notice they all also trying to blame the whole thing on credit market freeze up. NOT ! other areas are weak. and how about healthcare being flat !!!! that was supposed to be the growth part. pay attention folks, this is reality and reality aisn't happy.

Edited by humble1, 11 April 2008 - 08:31 AM.

comments, thoughts, reactions from the TT community urged and welcomed.

I just bought some at 32.50.

cheers,

john

silent and BRAVE ! (GE will be punished for days to come ! we close below support today and have another big drop monday: imho.)

Edited by humble1, 11 April 2008 - 11:41 AM.