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As it is, Immelt was given a thumbs up by the market on Friday for jettisoning GE Capital—-even if it was largely for the wrong reason. Namely, that it was accompanied by another gigantic $50 billion share buyback promise——a raid on GE’s balance sheet that makes no sense as the company now plunges into the epochal deflationary era ahead as a “pure play” industrial which will need all the clean balance sheet it can get.
Never mind, through. Immelt did get GE’s stock price back to…….well, to its 1998 level! That’s 17 years to nowhere, but its better than the alternative.
http://davidstockmanscontracorner.com/days-of-crony-capitalist-plunder-…
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