Re:Madoff whistleblower Harry Markopolos calls GE a ‘bigger ...
by msbarnett on Thursday August 15, 2019 @12:25PM
(#20706668)
> GE sold off GE Capital over a decade now.
They did? TFA (and Markopolus’ report) doesn’t seem to reflect that:
> In January 2018, GE reported a $6.2 billion charge based on liabilities in its long-term care business, which is run by the company’s financial services unit, GE Capital. To make up for the costs, GE Capital said it needed to set aside $15 billion to hold against potential losses, and stopped paying a dividend to its parent company for the “foreseeable future.”
A cursory glance at Wikipedia suggests some subdivisions were sold off between 2015 and 2017, which is...not the whole thing and definitely not “over a decade ago”
They did? TFA (and Markopolus’ report) doesn’t seem to reflect that:
> In January 2018, GE reported a $6.2 billion charge based on liabilities in its long-term care business, which is run by the company’s financial services unit, GE Capital. To make up for the costs, GE Capital said it needed to set aside $15 billion to hold against potential losses, and stopped paying a dividend to its parent company for the “foreseeable future.”
A cursory glance at Wikipedia suggests some subdivisions were sold off between 2015 and 2017, which is...not the whole thing and definitely not “over a decade ago”