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LD Come As Soon As This Spring
LD Come As Soon As This Spring
/www.cnbc.
com/
2018/
01/
16/
ge-
break-
up-
announcement
-t
o-occur
-as-
ear
ly-
as-
thi
s-spr
ing
-sources.
html
GEbr
eakupi
sli
kel
yandcoul
dcomeassoonast
hisspr
ing:
Sour
ces
GEseenasl
i
kel
ytoembr
acemaj
orcompanybr
eak-
up,
sour
cest
ell
CNBC'
sDav
idFaber
.
GEbr
eakupcoul
dcomeassoonast
hisspr
ing,
thesour
cessai
d.
"
Wearelooki
ngaggr
essiv
elyatt
hebeststruct
ureorst
ructur
esforourpor
tfoli
oto
maxi
mizethepot
ent
ial
ofourbusinesses,
"CEOJohnFlannerysai
donaninv est
orcal
l
.
TaeKi
m |
@fi
rst
adopt
er
Publ
i
shed10:
38AM ETTue,
16Jan2018Updat
ed8:
09PM ETTue,
16Jan2018
CNBC.
com
Anemploy
eeofGener
alEl
ect
ri
cworksonagast
urbi
neattheGEpl anti
nBel
for
t,Fr
ance.
Gener
alEl
ect
ri
cbr
eakupcoul
dcomesassoonasthi
sspr
ing,saysources
11:
21AM ETTue,
16Jan2018|
03:
32
General
Elect
ri
cmaybel
ooki
ngatspl
i
tti
ngi
tsel
fupaf
terpoorshar
ehol
derr
etur
nsi
nthepast
year
.
Thecompanyi
saimingt
oannounceadeci
siononabreakupasear
lyast
hisspr
ing,
sour
cest
ell
CNBC'sDav
idFaber
.Aspli
tisl
i
kel
y,t
hesourcest
oldFaber.
Gener
alEl
ect
ri
csai
dTuesdayaf
terar
evi
ewofi
tsGECapi
tal
insur
ancepor
tfol
i
othati
twi
l
ltake
a$6.
2bi
l
li
onaf
ter
-t
axchar
gef
ort
hef
our
thquar
terof2017.
Ont
hecal
lwi
thi
nvestor
sexpl
aini
ngthechar
ge,
CEOJohnFl
anner
yseemedt
oimpl
yhei
sready
t
omakesi
gni
fi
cantchangest
othecompany.
"Ourresult
sov ert
hepastsever
aly
ear
sincludi
ng2017andt heinsurancechargeonlyf
urt
hermy
beli
efthatweneedt oconti
nuetomovewithpurposetor
eshapeGE.Wewi llcont
inuet
o
ri
gorouslyrevi
ewouralt
ernati
vest
odeli
vershar
eholderv
alue,andreportouttoyouaswemake
progressthisspri
ng.
"
GeneralEl
ect
ri
csharessigni
fi
cant
lyunder
perfor
medthemarketi
nthepastyear
.Thest
ock
decl
ined40percentt
hroughFri
dayinthepast12monthsv
ersustheS&P500's22.
5per
cent
ret
urn.
OneWallSt
reetanal
ysti
ssur
pri
sedatt
hesi
zeoft
hei
nsur
ancepor
tfol
i
ochar
geandr
eser
ve
number
s.
"Afterananalysi
softheGEl ongterm careexposure,wehadt houghtanoutsizedchargewas
l
ikely,buthavetoadmitthe$15Bofaddi ti
onal capi
tal
ult
imatelybeingrequi
redwasf ari
n
excessofouradv ersecaseexpectati
ons,andi sanegati
vereadacr ossforotheri
nsurer
swit
h
sizeablelongter
m careblocksi
nourv iew,"Evercor
eISIanal
ystThomasGal l
agherwrote
Tuesday .
Thecompanyreducedit
sdivi
dendandunveil
edar est
ruct
uri
ngplandur
ingi
tsNov ember
i
nvest
orday.I
twast hecompany'
sfi
rsti
nvestordayunderFl
annery
,whosucceededJeffI
mmel
t
i
nAugust.
GEshar
escl
oseddown2.
9per
centTuesdayat$18.
21ashar
e.