In recent years it has not been enough to sell the crown jewels, in the sense that the crown is that of perhaps the most illustrious brand in American industrial history, General Electric, famous and studied by finance experts from all over the world for its colossal profits. THE'last act of this crisis it was the sale to the Haier for $5,4 billion of the fund Majaps, la General Electric Appliances, with its side-by-sides representing more than any other product the american way of life (the one that dreamed of, not the current one) and with a truly remarkable reservoir of patents and innovations. And with a substantial share of the richest market, that of the Premium segment.
Now the sick giant with its 300 employees around the world has issued a ruling: an accounting loss in the last quarter of 6,2 billion dollars which reflects a much stronger devaluation of assets than initially thought, also due to a change of the tax reform implemented by the US Congress. But the reality seems more serious than November had been announced since 15 billion is needed to be pulled out for a period of seven years to bolster the reserves of the GE Capital subsidiary which must somehow make up for the colossal and unexpected losses in the insurance field. It is not enough. Added to this are disappointing results in the electricity sector and even more disappointing returns in oil services; so after long periods negatthere the capitalization a Wall Street,Last year, it crashed di più of 100 billions of dollars.
MTuesday 9 January John Flannery, head of GE for about a year, confesses that the group's salvation strategy announced in November is not feasible. And he doesn't rule out a dismantling of the group probably in the spring. As for the intentions expressed in November, it is worth remembering that the conglomerate was to focus exclusively on aviation, electricity and health.
From the blog Paula's house.
