That would be the headline if I were king, anyway. Inspired by the cranial diarrhea spewed this week on CNBC (see Erin Burnett – Shithead of the week), I started wondering how poorly run a company must be to employ the likes of Dennis Kneale and Erin. Well, I’m finding out. Upon further investigation, I’ve realized that a more appropriate name for the organization would be Holy Fucking Shit!
Fun fact: General Electric Co. has $523.8 Billion in debt and only $12.3B in cash. That works out to $1.6 million in debt per employee!
How can a company with 1.6 million dollars in debt per employee be anti-protectionist?
Super-Duper fucked-up fact: GE chairman and CEO Jeffrey Immelt is a Class B Director of the New York Federal Reserve. Class B Directors are elected by member banks to represent the public (you can’t make this stuff up).
Oh yeah, Once again the common stock hit fresh 13 year lows.