Word: ge
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Dates: during 2000-2009
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CNBC's answer has been to dive off both sides of the line at once. On the silver-lining-hunt side, its straight-news interviewers now spend uncomfortable days (even when not talking about parent company GE's woes) pleading with gloom-saying guests to declare a bottom to the market or find stock picks. "Do you have just one?" Steve Liesman asked an investment adviser, almost plaintively...
...GE (GE), whose stock has dropped at an extraordinary rate, gained 20% which added $15 billion to its market capitalization in just a few hours. The good news from the conglomerate was that it sold $8 billion of bonds under a program backed by the U.S. government. That means GE is very close to its goal of raising the $45 billion it wanted to get from the debt markets this year. GE also benefited when a skeptical analyst said that a recovery in the financial market held a number of benefits for GE...
...GE appeared to prosper, the second-largest conglomerate in the U.S., United Technologies (UTX) said it would fire 11,600 people and cut its financial forecasts. In the current environment, it may be considered shrewd business to cut the payroll. However UTX's management did not inspire confidence when it revised its forecast down sharply...
...other root cause that bedevils any attempt to improve the job situation is that private enterprise is suffering from an unusually rapid loss of earnings. Corporate bankruptcies are beginning to rise sharply, and even companies that have been considered rock-solid, such as GE (GE) and Microsoft (MSFT), admit that their core businesses are being hurt badly and are coy about when they think the situation will improve. Large companies have gotten into the habit of saying that they cannot forecast earnings because they have "limited visibility." In most cases that means they cannot predict their sales beyond the current...
...recovery were probably finalized several weeks ago. It would have been impossible to balance the Budget without them. At the point when those forecasts were set, GDP contraction for the fourth quarter of last year had not been revised to 6.2%. GM (GM) had not posted its huge loss. GE (GE) had not cut its dividend. And, Citigroup (C) had not been partially taken over by the government. Some analysts might say that those were unrelated activities made by large companies in unrelated industries. However, these firms were, until recently, the largest car company, bank, and industrial conglomerate...