Word: stocked
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Investors have deserted GE's stock over the last week like draft dodgers fleeing to Canada. The firm's shares fell more than 20% over the five trading days, and now sit near a multi-year low of just below $9, 25% of its 52-week high. Even though GE's financial services operation is only one of many parts of the company, its shares have done much worse over the last year than JPMorgan (JPM) or Goldman Sachs (GS). It is as if GE's large and healthy infrastructure business did not even exist...
...assets of its financial unit, GECS, will suffer from high default rates as the recession undermines the ability of its business and consumer customers to pay their bills. A Deutsche Bank analyst recently wrote that GE Capital has zero value in contributing to the value of the company's stock. His argument is that the unrealized losses on the financial unit's balance sheet are greater than most investors understand. On top of the analyst's report, The Wall Street Journal reported that GE has significant exposure to the failing commercial real estate market. (Watch a GE advert shown during...
...monstrosity that the stock market has made it out to be. It may cut its dividend or lose its precious credit rating. Its financial service businesses may post large loses. But, it should not trade like a money center bank that the federal government is about to nationalize...
...head of the former line is beleaguered giant Citigroup, which is currently negotiating with the Treasury Department to swap common stock in the company for some of the $45 billion in preferred stock that the government has purchased so far to shore up the bank's finances. The advantages for Citi are that it wouldn't have to pay dividends on the common stock, and certain capital ratios would improve. In return, the government would get more of an upside if Citi were to return to health, plus effective control of the company. Whether the government's stake would rise...
...Pedal Power (MetroPed), a company that uses pedal-powered, three-wheeled vehicles to provide “eco-friendly pick-up and delivery services” to businesses and universities throughout the Boston area, according to its Web site. The service guarantees same- or next-day delivery for in-stock orders to Cambridge and parts of Somerville and Allston, and one-to-three day delivery to other areas in Boston. Heather L. Gain, marketing manager for Harvard Book Store, says that the partnership stemmed from the store’s effort to provide innovative services to the community...