Ouch! General Electric Reports $13.6 Billion Loss

[rcjordan]

Results weighed down by charges related to plans to sell bulk of banking business

For the first quarter, industrial revenue edged down 1% to $24.36 billion, as growth in its power and water and transportation divisions was offset by declines in its oil and gas and health care divisions.The segment also took a $950 million hit from foreign exchange.

http://www.wsj.com/articles/general-electric-revenue-profit-fall-in-first-quarter-1429267663


Having watched so many of our once seemingly invulnerable corporations fade or die, I have to wonder if GE can reinvent itself?

[JameyLapp]

It is great loss, I can't expect. But we also want to see the positive side from these guys as GE is the major player since 1930 and rip-off billions in profits for more than 75 years, rather than just sharing the failure stories.

[DogBoy]

Cat is the other big one struggling.  They are talking about laying off 15000 worldwide. I know maybe a year ago they issued a letter to all their suppliers asking for a 10% cut in pricing. They've never don't that ever.

[Mackin USA]

The world is headed towards deflation and CAT and other big boys will be hurt.

Assuming capitalist principles prevail into 2017, they will recover in time. IMFO