“GE CEO Renews Pledge to Study Breakup After $6.2 Billion Stumble”

“GE CEO Renews Pledge to Study Breakup After $6.2 Billion Stumble,” by Rick Clough, Bloomberg

“Flannery renewed the discussion of a potential breakup after disclosing a $6.2 billion charge related to an old portfolio of long-term care insurance, another setback for a company already struggling with flagging demand in some key markets. The CEO, who took over for Jeffrey Immelt in August, is cutting costs and selling assets after GE posted last year’s biggest drop on the Dow Jones Industrial Average.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Blaming the breakup of General Electric on long-term care insurance seems a little over the top.

GE CEO Renews Pledge to Study Breakup After $6.2 Billion Stumble

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