U.S. Markets closed

General Electric to restate two years of earnings

By Jessica Toonkel
  • H
    HarryD
    GE will likely trade in $10-15 range for duration of 2018.
  • d
    dblpro37
    My daughter went to work for them in Schenectady straight out of college a couple years ago, but left after just 12 months. She said it was pure chaos. And they reneged on written employment benefits and promises The dumbbell Dept Manager in Windmill Division made the whole thing impossible. She's doing much better now with another high profile company in the region. So proud of her.
  • H
    Howdy42
    Can we get some clawbacks underway from Immelt? That guy just ran a company into the ground, a company that has been one of the Dow 30 stocks since its inception.
  • P
    Patriot
    For folks calling for Immelt to go to prison, the restated earnings is driven by the new revenue recognition standard that goes into effect for public companies in 2018. Companies could elect to do a full retrospective approach, which includes restating the impact for the previous two years or modified retrospective which includes and opening balance sheet adjustment in 2018 for the impact. The new accounting standard is being adopted by every company and the impact varies depending on how contracts are impacted by the standard. So cool the jets.
  • A
    Anonymous
    Meanwhile Jeff Immelt will not be restating his bonuses or compensation package received while piloting the company into the rocks.
  • J
    Joe
    there's intrinsic value there. it'll take a few years and possibly asset spin offs, but GE will be back
  • A
    A
    Doesn't that mean the contracts revenue will be reported in the future? Not a bad gig. Report the earnings as current in 2016 and in the future. No one cares about 2 year old earnings reports. It is future reports they will be looking at.
  • M
    Man
    The Cover Up begins
  • E
    ErnstG
    Obama's second favorite company after Solyndra.
  • E
    E
    They need to arrest that Immelt for cooking the books.