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GE bucked the downtrend today, rising 0.9% as Jeff Immelt - speaking at a conference...

GE bucked the downtrend today, rising 0.9% as Jeff Immelt - speaking at a conference (transcript) - says the company is considering spinning off parts of GE Capital through an IPO. "In financial services, putting things up for sale with the assumption that a bank would buy it has been a fool's journey," said Immelt, "(but) the capital markets are very receptive to IPOs." The proceeds would fund more buybacks as Immelt hopes to lower the share count to 9B-9.5B shares by 2015's end (from about 10.4B currently).
Comments (7)
  • Hm. Personally, I'd rather have them spin it off and give us shareholders shares of both. But I see the logic in doing it that way.
    23 May 2013, 12:48 AM Reply Like
  • Got to get rid of them toxic "assets'' first.
    23 May 2013, 05:52 AM Reply Like
  • Disgusting move...Banks won't buy the toxic assets, so ship it out to the public instead.
    23 May 2013, 07:40 AM Reply Like
  • Haha I knew it
    23 May 2013, 07:55 AM Reply Like
  • They had said total shares would be reduced from $10.4B last year. What have they been doing with the cash on hand? I am still waiting for the benefit of the GE Capital dividend to the parent in some sort of divvy increase mid-year. That was also reported months ago.
    23 May 2013, 08:08 AM Reply Like
  • They made numerous acqusitions. The most recent Lufkin
    23 May 2013, 04:56 PM Reply Like
  • Spinning off parts of GECC; what parts? Seems awfully ambiguous. At bv, with a haircut, or at a premium to bv? Lots of questions on this possible spinoff.
    26 May 2013, 08:07 PM Reply Like
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