GE’s Comeuppance—Poster Boy For Financial Engineering Run Amok

GE is taking a pounding this morning for cutting its dividend by 50%, and we'd say its about time for both. That is, its unaffordable and unsustainable disgorgement of cash into the stock market should have been drastically curtailed long ago. Likewise, even a quasi-honest stock market would have severely punished the gong show of dumbkopf M&A, financial engineering and crony capitalist sleaze that occurred under former CEO Jeff Immelt's 17 year reign.
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