[jimjamuser]

Originally Posted by Boomer

I had never heard of a reverse split until I ran across the 1-for-8 that GE did recently. My grasp of the market is untrained and limited. But a reverse split sure looks like smoke and mirrors to me, a desperate move.

GE was founded in 1892, in Schenectady, NY. In my hometown, GE there was one of the companies that was the place to work. (GE & PG had always been the places to be.) What happened to GE under bad leadership was awful. It also illustrates how important it is to keep an eye on individual stocks you own, no matter how old and established the company is.

Jeff Immelt started as CEO at GE in 2001 and got outa Dodge in 2017 — with his 200 million in retirement pay. (I wonder if that 200 million was in GE stock.)

Now, Immelt has written a book, Hot Seat: What I Learned Leading a Great American Company. . .What a smarmy title — sure, he led it — right off a cliff.

There is an interview done with with Immelt, in February, on CNBC. If interested, you can find it with a Google. It is a part of CNBC’s Behind the Desk series. The interview leads with “Former GE CEO Jeff Immelt on his controversial legacy: ‘I don’t want to hide.’ “ (Geez. Maybe he should.)

Boomer

I guess he was the Jack Welsh that followed Jack Welsh. I wonder who was more greedy? And who has the most books turning up in THRIFT stores?