| Author | Message | ||
     Paw |
Since GE has a huge financial business investors are running scared and GE's stock has dropped to a major low...It is currently trading for under $7 a share...If anyone follows the stock market and GE, You would know, now is the time to get a piece of GE at the bargain price of $6.69 per share. For the last 2 years in these hard economic times GE has made profits of 20.5 billion in 2007 and 19 billion in 2008 both were higher than wall street projected...I read our news letters every week and jump on the internal website and read Jeff Immelt's(GE's CEO) updates...The investors are running scared, and they are making a huge mistake and losing a lot of money...GE is the 3rd largest company in America as in assets and the 11th biggest in the word. If you take out the oil companies GE is the 5th largest in the world. A company like this does not fall as fast, as say companies like Citigroup and other stupid managed financial companies out there. BUY BUY BUY!!! NOW NOW NOW!!! I just most of my 401K elections to GE common stock I'm not going to let this pass me by. (Message edited by paw on March 06, 2009) | ||
| Sayitaintso |
You did see that GM just got hit with a going concern footnote in their financial statement by their auditors. In regular people language (and not CPA speak) that means there is a reasonable chance that GM will have to declare backrupcy. Granted they are probably in the category of "too big to let fail" that politicians throw around. I'm not sure that putting all the eggs in one basket is a good idea. | ||
| Froggy |
Stupid question, what happens to my GM stock (assuming I had some) if they went chapter 11 bankruptcy? | ||
| Darthane |
Often (but not always) your stock will be wiped out as part of the Ch11 process and end up in the creditors' hands. | ||
| Buellinachinashop |
No thanks.......GM was just on CNN's Headlines saying.."We doubt our Survival". | ||
| Darthane |
Guys - General ELECTRIC, not General MOTORS. GM could only hope their stock was trading over $6.50. | ||
| Paw |
Yeah guys it is GE read the post carefully. Will the big letters help you. LMAO  | ||
| Buellinachinashop |
My gf works for ge, as does my boss's hubby........like GM, its a sinking ship. No matter how big or small the letters are. Even the employees are selling that stock off. | ||
| Paw |
Dude i work in the energy part of GE and I have worked 48 hour of overtime so far this year...everyone at work is buying it up like crazy...GE will not sink your full of crap. GE's capital is in the tens of billions of dollars. if you add there assets is in the hundreds of billions. GE made a profit of 19.5 billion last year and they will make billions this year. guaranteed!!! GE was smart they saw this problem coming a couple years ago sold a lot of their wothless businesses. GM is in the vehicle business and finance, that all not much to fall back on. GE deals in hundred of products they will not sink anyone who dumps it now will take a huge loss. It will rebound and probably spilt in the future. (Message edited by paw on March 05, 2009) | ||
| Buellinachinashop |
Dude....the medical division is drying up faster than you pecker in the wind, they laid off over 1000 people in wisconsin over the last year with more to come. If they were doing so well, why's their damn stock dropping like a stone and you advertising it like a hooker on 1st street? | ||
| Reindog |
Paw, I like your exuberance but be careful as you need to diversify. Your paycheck comes from GE which I presume is a major part of your income. Now you are also throwing your investments into GE? That is a questionable move. Just ask the folks at Enron. | ||
| Buellinachinashop |
http://money.cnn.com/2008/10/09/news/companies/col vin_ge.fortune/index.htm From October of 2008. Yea, a real stabile company. Granted, none are right now, but any investment is a gamble. GE's not worth my risk. I'd toss money into Harley before GE. | ||
| 86129squids |
I'm no stock market genius, but remember that General Electric is HUGELY diversified, and heavily invested in govt. contracts making munitions and other goods. In other words, lots more than light bulbs goin on. I doubt it's goin anywhere- with sharp management it will survive. IMHO, YMMV Preciate the word Paw... | ||
| Paw |
GE cannot get into the 401K's or the pensions like Enron did. There is a clause made by the lawyers and in courts keeping them out of them. To bad the medical business isn't like energy, medical is a small fraction of GE's business energy is 100 time bigger than the medical division. Their finance is real big too and they don't need any help from the government to bail them out. | ||
| Buellinachinashop |
One issue with GE to remember is they buy companies left and right, that's ok IF they ALL make money and the economy is good. I highly doubt GE will go out of business, but I'd bet their stock sinks further yet. | ||
| Paw |
Seriously look at GM and Harley how many product do they produce? Then look at GE and see how many tens of thousands products they make. If one little division like MEDICAL is having a problem they have hundred more like energy to take up the slack...Gods knows we did it last year...Engery is the biggest profit business next to finance GE has. To give you a taste of what i work on. The part I am machining, when it leaves the door It cost about 15 million dollars that is average, and we have 29 of them to make this year and that is only one type of product we make in Schenectady. The schenectady plant make enough money to cover medical if it fold no problem!!! | ||
| Rfischer |
Paw, You have a dog in the hunt so your enthusiasm for GE is understandable. To the rest, I urge caution. GE is in trouble as presently constituted and its survival as a global conglomerate is anything but certain. The market has trashed its stock for good reason; just because it's "cheap" now doesn't make it a good buy. There is a great deal of uncertainty regarding its future earnings and asset valuations which are precisely the basis for share valuation. The market may mis-price a stock on occasion, but not for long. GE has been selling off for over a year. Buck that trend at your peril. | ||
| Paw |
Buellinachinashop where are you getting your info...GE quit buying companies and has been selling off a lot of the crap businesses they have for the last 2 years. | ||
| Paw |
OK you going to argue with Warren Buffet he dumped billions in to GE. Mark my words GE is going no where it will rebound. | ||
| Jb2 |
I don't see much good happening with GE. Granted it's a bear market now and it will probably dip even lower. If there was a chance it would go back up soon I'd buy. That chance would revolve around Immelt getting booted and we know that won't happen as long as Obama's in office. | ||
| Rfischer |
FYI, Warren Buffet did not buy stock in GE. Any more than he did H-D. He loaned them a pile of $$, at loan-shark rates, by way of special preferred stock issue. Very smart man. He gets paid regardless of how the common stock performs. Do not confuse what Warren Buffet does with what you, the ordinary investor, can do. | ||
| Buellinachinashop |
"Buellinachinashop where are you getting your info...GE quit buying companies and has been selling off a lot of the crap businesses they have for the last 2 years." Notice the date Paw. And how much they spent. http://www.nj.com/business/index.ssf/2008/10/ge_un it_completes_purchase_of.html | ||
| Buellinator |
Hold on to your money and don't be in a hurry to invest in anything. Now is the time to wait. | ||
| Dynasport |
I would give my opinion, but the sad truth of the matter is that the best advice I can give is to do the opposite of whatever I do. I could buy a whole fleet of motorcycles with the money I have lost in my 401k in the last 14 months. | ||
| Court |
>>>>I have lost in my 401k in the last 14 months. You've "lost" nothing until you sell. I moved 75% of mine before this shit hit but I cry looking at it everyday . . . trick now is patience . . . at least in my book. | ||
| Dynasport |
I have lost the confidence that I will be able to switch careers in five years. I had really hoped to leave the job I have now for something less stressful and more fulfilling. Unless we have a turnaround of epic proportions in the next five years, that is not happening now. It's amazing how what you work for years to save can be decimated in months. Oh well, no point in crying about it now. I am just thankful I have a job to go to tomorrow. | ||
| Paw |
Here is what i'm getting at. This is from the world fortune 500. GE...Rank: 12 (Previous rank: 11) CEO: Jeffrey R. Immelt Employees: 327,000 Address: 3135 Easton Turnpike Fairfield, Connecticut 6828 Country: U.S. Website: www.ge.com The "G" in "GE" might as well stand for "global." The iconic American company now derives about half of its $176.7 billion in revenue from outside the United States. Not surprisingly, the conglomerate is currently looking shed some domestic businesses. Its appliance business is up for sale, and General Electric announced last year that GE Money would exit the troubled U.S. mortgage business. $ millions % change from 2006 Revenues 176,656.0 5.0 Profits 22,208.0 6.6 (with revenues, profits & assets like this there is nothing to worry about) Assets 795,337.0 — Stockholders' equity 115,559.0 — Profits as % of Revenues 13 Assets 3 Industry: Diversified Financials Rank Company Global 500 rank Revenues ($ millions) 1. General Electric 12 176,656.0 (look at that numbers 2 and 3 need bailed out but not GE they have double the revenue as Freddie and Fannie do together) 2. Fannie Mae 161 43,355.0 3. Freddie Mac 162 43,104.0 GM...Rank: 9 (Previous rank: 5) CEO: G. Richard Wagoner Jr. Employees: 266,000 Address: 300 Renaissance Center Detroit, Michigan 48265 Country: U.S. Website: www.gm.com It was a tough year for GM, as it suffered a loss of nearly $39 billion and continues to lose market share to Japanese rivals Toyota and Honda. But, with a diverse portfolio of brands, General Motors did hit some international milestones; combined with its local partners, it was the first automaker to sell 1 million vehicles in China, and sales increased 74% in India. Even with its commitment to emerging markets, though, the company spent much of 2007 handling labor issues back home. $ millions % change from 2006 Revenues 182,347.0 -12.1 Profits -38,732.0 N.A. (this has been year in and year out) Assets 148,883.0 — Stockholders' equity -37,094.0 — Profits as % of Revenues -21 Assets -26 Industry: Motor Vehicles and Parts Rank Company Global 500 rank Revenues ($ millions) 1 Toyota Motor 5 230,200.8 2 General Motors 9 182,347.0 3 Daimler 11 177,167.1 Look at the bottom lines of the two companies you will see GE has profited every year...There are a few on here who say GE is a sinking ship and are probably going to be where GM is, possibly filing for chapter 11...I have news for you. If that is the case then you might as well add the rest of the world to that list...I can see why GM is where they are when you rely on just a hand full of products to make money and a couple of them tank. Your going to get into trouble but if your like GE and have hundreds of products and know when to dump certain ones. You will continue to profit as they have year in and year out and their profits are not small either for the last several years GE has profited well over 10 billion every year. So if anyone thinks GE is going down your not a wise investor or not and investor at all. Buellinachinashop That is only one company why don't you do research on how much they have sold. Every company buys and sells...but your saying the buy all the time not the last 2 years they have sol a lot more than they have bought. (Message edited by paw on March 05, 2009) | ||
| Buellinachinashop |
"Buellinachinashop That is only one company why don't you do research on how much they have sold." You said they weren't buying at all. I showed you otherwise. If I were a GE investor, I'd like to see how many they actually bought, then sold FOR A PROFIT. Anybody can buy a turd and sell it at a loss. If GE were doing so well...why are you pimping their stock? | ||
| Johnnylunchbox |
Anyone ever read "Atlas Shrugged" by Ayn Rand? | ||
| Gentleman_jon |
I can not predict either the future of the stock market, or General Electric. However, if one were to invest in the stock market at this point I would suggest two things. 1. Only invest if you have a ten year or more investment goal. 2. Invest in a diversified portfolio. Over the years, it has proven almost impossible to beat the returns of index funds, such as those by Vanguard and Fidelity which combine wide diversification, and very low costs. Market traded funds have the advantage of liquidity and day to day pricing. Investing all one's money in one's employer shows great enthusiasm for the Company which is admirable, but as an investment strategy, it is hard to imagine one with more downside risk. just my .02¢ |
