Wednesday, March 18, 2009

THURSDAY COULD BE PIVOTAL DAY FOR MARKET

NEW YORK (Fortune) -- General Electric stock has fallen 72% over the past year amid concerns about rising losses at its finance arm, GE Capital. In an attempt to reassure investors, the company will deliver a detailed, five-hour presentation on GE Capital to investors in New York this Thursday.
In an interview on CNBC that aired March 5, GE's chief financial officer Keith Sherin acknowledged that GE (GE, Fortune 500) has a credibility problem with investors. "We've got to earn that trust back." he said.
"We recognize that we've made statements about both not raising equity and about not cutting the dividend and we've had to backtrack on those," Sherin said. He blamed these reversals not on on the uncertain economy.
He said that the best way to regain trust is to be as transparent as possible, and that Thursday's presentation about GE Capital should help provide that clarity.

*GE is main DOW component, if mkt reacts well to Thursday meeting, what they say, COULD provide HUGE upside to market.

Bulls have been regaining some control,

IMPORTANT ARTICLE ON GE
http://emac.blogs.foxbusiness.com/2008/10/28/can-the-fed-bring-good-things-to-light/

D

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