Even General Electric will cut costs

Jiffrey Immelt has driven this good company right in the ground. I hear from my inside friends he is being tagged for a job with Obama Adminstration. He is being rewarded for their use of NBC to drive the left agenda big time. This is a sad day for this company and I feel they are on the verge of being taken over by someone else, or they will go the way of some other companys like American Motors of years gone past. Companys like GE, NEW YORK TIMES, CNN, all way over the top on one side views. The people who run these companys have used them to drive their own left leaning radical ideas and this country is going to pay a heavy price down the road. The last safe place for any balance is the SUPREM COURT and with an Obama Adminstration they will take care of that in short order. You will see people like FRANKLIN RAINES, JOHNSON, GERLICK, HOWARD remain out of jail because the justice department will be told to stay off this case. They will protect SEN DODD, REP FRANKS, REP WATERS, SEN SHUMMER, SEN OBAMA, SEN DURBIN, SEN CONRAD from being forced to resign for the road blocks they put up to keep FANNIE MAE forcing the banks to give out risky loans so they could build up their voting block. This is a sad day for the USA. President Bush is part of the problem for trying to play patty cake with these thugs, it took Sen McCain to get the Sec of Defense fired and get the surge going. President Bush came to Washington thinking he could get along with the likes of Shummer and Reid, Pelosi, these thugs are like Brutus, the only thing they are interested in is "WHAT CAN MY COUNTRY DO FOR ME, TO HELL WITH WHAT I CAN DO FOR THE COUNTRY". We will have to suffer through this radical time in our history. The REPUBLICANS are paying a price for straying away from the TRUE CONSERVATIVE VAULES.

The previous comment covered most of the issues at GE, America and the world. I would add only that GE's leverage generally, and Commercial Paper particularly are potentially a time bomb. For a company to retain a AAA rating while financing itself with overnite funds (nearly $100 billion of their half Trillion of debt) is madness. This is not a business model- it's a crap shoot. And the top bozo gets $20 million a year for dice rolling with other peoples money. Jack Welch pulled it off for years and retired with about a Billion so I guess Immelt's take is chump change in comparison. Stay tuned and pray that Brother Paulson (ex Goldman Sachs CEO) can continue to prop up the Commercial Paper market-the largest dealer in which is Goldman Sachs.

Doug:

A precise update for you -- in April Jeff Immelt announced that GE would increase its cost reduction goal for 2008 from $2 to $3 billion. It was in all the papers.

With regard to international growth, it was clearly stated on our recent earnings call that global revenues have risen to 55% of total revenues in 2008 and that 60% of product shipments are now going outside the U.S.

Facts are irrelevant to rants but helpful for those genuinely interested in understanding companies. Here's a place to start for GE: http://www.ge.com/investors

Also, if other Blogging Stocks readers have questions about GE's commercial paper I hope the following resource is helpful: http://www.gereports.com

Gary Sheffer, GE

How about..

Even Ge has a Derivative problem... or

Buffett has a problem with GE??

Andy
www.myinvestorsplace.com