Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Minyan Mailbag



Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.


I enjoy reading your contributions to The 'Ville. I was just looking at your GE piece, after having quickly run through the numbers in their release and listened to the call this morning. Needless to say, I am not impressed with the results that are being highlighted by Immelt & Crew. If analysts/investors tried to perform an apples-to-apples comparison of 2Q04 vs 2Q03, I do not believe they would be buying today. The only reason GE showed y/y revenue and earnings growth is because they are a larger company now vs last year; they only show growth through acquisition. GE Industrial assets increased 33% y/y, much higher than the growth at any of their lines of business. Goodwill and intangibles are up 47% through the first half of 2004. If you look at ROA, this metric actually decreased y/y, from 0.573% to 0.563%. The ROA deterioration alone suggests that these acquisitions are a drag on the business.

I have no position in the stock, but I am interested in GE as a tell for the economy. Based upon their report, I'd say business is not booming. Anyway, thanks for quality work. I look forward to reading more of your posts.

Minyan John

< Previous
  • 1
Next >
position in ge

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos