Home » barack obama , dan abrams , General Electric , jeff immelt , msnbc » "G.E.’s Shortfall Calls Credibility Into Question"
Written By mista sense on Thursday, April 17, 2008 | 6:03 PM
That's the headline in The New York Times today. The Cable Gamer has been predicting since last year that GE was destined to spin off NBC-Universal, probably after the 2008 elections, and now we see the "big mo" for a larger GE breakup is growing. Here are the key grafs:
Once-isolated calls for at least a partial breakup of the conglomerate have become a chorus, with NBC Universal, appliances and GE Money, the consumer finance unit, emerging as prime candidates for a sale or spinoff. Unloading these divisions would return billions to shareholders, advocates say, while allowing G.E. to focus on its booming infrastructure business, which sells big-iron items like locomotives, jet engines and power turbines.
“There’s a point in time when you say this is a big old monster, and parts could be better off on their own,” said Scott Lawson, a portfolio manager at Westwood Capital Management, which owns G.E. shares. “A breakup is looking more viable.”
Interestingly, the piece was co-authored by Nelson D. Schwartz, the Times reporter who had the original GE breakup story nearly a year ago. It's happening, folks.
As the company flies apart, The Cable Gamer wonders if Jeff Immelt will fight to keep custody of Keith Olbermann, and maybe Dan Abrams, too--both MSNBCers were notable tonight for their shameless/relentless shilling of Barack Obama tonight.