General Electric CEO Culp says company has too much debt

He also needs to first shore up the pension plan.

Biz It's not just GE, some companies with big expenses are going down, and they don't have enough cash flow.

That debt must be cutting into the CEO's requisite perks. Oh, well, 'tis the season for pink slips, so let's see how many 1,000s of GE employees lost their jobs.

Then gave Back all the tax cut money you just got From the so called (POTUS)💯”You SOB’s make Sick”🤮🖕

The senior management put this company in debt. They should pot it out by not getting paid until the company is out instead of killing products and laying off workers.

They should be rich. Remember when light bulbs use to cost $0.20 each? Then GE pushed Obama to require Americans to but the new $5.00+ bulbs. Now you have to have a PhD to know what types of bulbs work in your devices and homes.

GE needs to cut debt? What was the selling off of the appliance division for?

Business school's will be writing about the failure of Jeffrey Immelt and his management team for decades. It smells of a toxic culture to the likes of Enron, Tyco, and other well published failures.

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GE, once America's most valuable company, is now fighting to avoid becoming a junk bond nameGE's stock is a sliver of its former self, and its bonds are now trading as if they are already junk-rated, putting pressure on new CEO Larry Culp to quickly raise cash and cut debt. This is the end. Blockchain is the answer. Look what it did for IBM... They're making junk turbines, dryers, etc., etc....
Source: CNBC - 🏆 12. / 72 Read more »