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This morning General Electric (NYSE: GE) finally spoke up about the financial situation of the company. GE's chief financial officer, Keith Sharon, says worries about GE Capital are overdone, reports CNBC's David Faber. I have been ranting about this for months, most recently in Silence is not golden when it creates doubt.On CNBC Sharon announced that it will be doing everything it can to be more transparent including a deep look into the books starting with an open conference the week of March 16, 2009:
This morning I wrote about Does General Electric have an adequate fire break? and whether my ranting and raving has gotten some attention or it is just coincidence I will be keeping it up. I own shares and options in the company and believe in the long term growth of the company. However, I am also in the real estate investment business and the value of the companies assets that have not been marked-to-market might be worth 30% less across the entire portfolio on the open market today. I hope that is discussed during the conference.
Investors have made it quite clear that they are very nervous about anything financial and they have spoken by selling off the stock. It is up to General Electric to present the facts to stem the tide. CNBC which reported the story is owned by GE. I hope they got it right.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I own shares of GE and have open options as well.
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Reader Comments (Page 1 of 1)
3-07-2009 @ 11:15AM
guy_sasson said...
Travis the Chimp would have done more for GE shareholders than Jeff Immelt.