Posted on 11/13/2017 7:17:40 PM PST by BenLurkin
GE had been one of the biggest dividend payers in the United States, behind giants like ExxonMobil (XOM), Apple (AAPL, Tech30) and Microsoft (MSFT, Tech30).
By cutting the dividend in half, GE will save more than $4 billion per year. That makes it one of the largest dividend cuts in the history of the S&P 500 and the biggest since 2009, according to S&P Dow Jones Indices. GE made an even bigger dividend cut in 2009, during the Great Recession. But dividend cuts are rare these days.
Many companies are increasing them because the U.S. economy is healthy and the stock market is booming.
(Excerpt) Read more at money.cnn.com ...
GE has some problems and cutting that dividend means problems. Have they been borrowing money to make the dividend the last few years??
GE sold its appliance division to a Chinese outfit.
Yes I am sure he does.
GE’s home appliances sucked for years. Ask any appliance repair guy what to buy. They all say GE had issues. Google GE refrigerator control boards.
GE: 1% of holdings, was 1.52% of income, now .77% of income.
Never put more than 3% of your portfolio in any one stock!
I think GE stands for “Greedy Executives”...
I was told by a Lowe’s appliance salesman that the trend for dishwashers, refrigerators, washers and dryers is to reduce the planned obsolescence from 10 years to five.
>I was told by a Lowe’s appliance salesman that the trend for dishwashers, refrigerators, washers and dryers is to reduce the planned obsolescence from 10 years to five.
Buy Commercial grade machines. Prices are a bit higher, but they’ll last 20 years and not part of the low energy crap machines made today.
...and to think we got rid of a 30 year old refrigerator and a 25 year old microwave during our kitchen remodel four years ago!
We just got rid of our 30 year old Kenmore electric dryer! We’ve had some good runs with these appliances.
GE is getting ready to shed some parts, too.
The bad news isn’t over.
There is more upside than downside at this point.
Remember, if you sell a division, you get the money. So it depends on how they deploy that capital.
I bought a commercial grade wood floor for my kitchen. Best remodeling decision I have made yet.
What’s left of GE?
Plastics - gone
Appliances - gone
Finance - gone
Aerospace - gone
Railroad Locomotives - I think going
Gas turbines are left
What else do they make?
They already meet that goal on the window air conditioners. Pure junk. Walmart is the only way to go with their extended warranties on any Chinese A/C.
The curse of Boston keeps on rolling. Gillette, Bank of Boston, now the newcomer, GE. Must be something in the (dirty) water.
Windmills, jet engines, and light bulbs...
Remember, the “future” was supposed to government subsidies.
Then that mean old Trump came along and wrecked the gravy train.
I believe it.
Our old dishwasher was really powerful - cleaned everything well. Our new Kenmore band is crap. Misses a lot of spots, very temperamental. The plastic silverware racks have already cracked and chipped after two years.
Well I certainly agree with that statement. No one is "entitled" to lifetime employment from a company. That's ridiculous.
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