“GE is under SEC investigation,” by Matt Egan, CNN Money
“GE (GE) said on Wednesday that regulators are investigating a $6.2 billion insurance loss that the company revealed last week. The disclosure is a new and potentially much more serious problem for a company already reeling from missteps and questionable management decisions. The SEC is also investigating the company’s accounting, chief financial officer Jamie Miller told analysts during a conference call. Specifically, she said the agency is looking into “revenue recognition and controls” for the company’s long-term service agreements.”
LTC Comment (from Damon V. Moses, President, Administrative Coordinator):
Here’s the latest in the GE saga. (Also, there is a video offering “5 stunning stats about General Electric” set to a techno tune.)
#long-term
#goldencareagent
