Originally Posted by Old_Toot
Originally Posted by KFWA
Working for a competitor of GE, we are facing globally similar challenges.

I can't speak to their more industrial divisions but they've really dropped the ball on quality in regards to their consumer divisions.

They used to have a policy to be no worse that #2 in the marketplace of whatever they were involved in. Somewhere that mindset left.

Another issue is here locally, they have zero employee loyalty. Constantly laying off, hiring, laying off, hiring.....

I sold my GE stock in 2010.


Jack Welch was a hard act to follow.


Welch started most of the problems by turning GE from an industrial company into mostly a bank and insurance company. Selling long term care policies was an easy way to juice the bottom line if you needed to a little help to hit your quarterly numbers. The long term care business has been a financial disaster for the company. Two Jet Jeff Immelt didn't help matters any and had the worst instincts I ever seen in a CEO. I think the current CEO is doing the right things but you don't turn a ship that size very fast. I worked for GE for 5 years and the executive group think and absolute focus on quarterly financial numbers was incredible.