Created Mon 9th Mar 1:04pm PST by 
bookie
bookie 
Will 'armageddon' leave the CEO of General Electric intact and in office (to year end)??
Background: I so want to make a pun on the name of the CEO, Immelt... but will leave it to you. Anyway, a Bloomberg article refers to a March 5 interview (at http://www.bloomberg.com/apps/news?pid=20601087&sid=ajgcmH7NIFgs&refer=home ) and contains his assertions - backed up by former CEO Jack Welch - that he and GE can steer through the financial armageddon of recession...
Analysts, investors and others are unhappy that Immelt - who apparently claimed there was no need to reduce GE's dividend as recently as January 24th - has now cut the annual dividend by more than two-thirds, and presided over a major decline in share price.
Some would say the Greeks had a word for it - hubris, I mean - while British readers may be familiar with Private Eye's Curse of the Gnome, which has a similar spirit.
So - will Immelt say - or be forced to say - 'armageddon outa here?
Since we don't know how long the crisis will last, the question will settle as 'Yes' if he is still CEO of GE at the end of 2009, and 'No' if he resigns, leaves, is replaced as CEO before December 31st.
(Note: I suppose there could be uncertainty if he is reported as leaving, but hasn't quite left by year end. As the purpose of the question is to see if he can survive the crisis as the boss, it doesn't matter if he is technically still in office; if the company announces he is being replaced or is changing jobs by year end then it is 'No'.
Analysts, investors and others are unhappy that Immelt - who apparently claimed there was no need to reduce GE's dividend as recently as January 24th - has now cut the annual dividend by more than two-thirds, and presided over a major decline in share price.
Some would say the Greeks had a word for it - hubris, I mean - while British readers may be familiar with Private Eye's Curse of the Gnome, which has a similar spirit.
So - will Immelt say - or be forced to say - 'armageddon outa here?
Since we don't know how long the crisis will last, the question will settle as 'Yes' if he is still CEO of GE at the end of 2009, and 'No' if he resigns, leaves, is replaced as CEO before December 31st.
(Note: I suppose there could be uncertainty if he is reported as leaving, but hasn't quite left by year end. As the purpose of the question is to see if he can survive the crisis as the boss, it doesn't matter if he is technically still in office; if the company announces he is being replaced or is changing jobs by year end then it is 'No'.
Settlement details:As reported by a major mainstream news source.
Forecast history %
| Yes |
| ||||
| No |
|
Question suspends in 3 weeks
- Activity: H$10,275 |
- Predictions: 18 |
Comments: 3
bayoubear![[Admin]](http://www.hubdub.com/images/icon_admin.gif "This user is an admin"){kind=icon}
: was: "2009-12-31 15:59:00" 
Get widget!Predictions (18)
aland
obammer
predicted No (H$20 at 30%)Comments (3)
Stake virtual dollars on the outcomes of real news stories! Win more if you're right and climb the leaderboards Learn more...
By joining you are agreeing to our terms of service
Related News 
This news is selected automatically based on the question, its background, options and tags
This news is selected automatically based on the question, its background, options and tags
score: 10
Business World 27 weeks ago
Business books: GE?s Jeff Immelt, career fix-it man Story tools Vol. XXII, No. 201 Staying In Business books GE?s Jeff Immelt, career fix-it man BOSTON ? Jeff Immelt has been fixing businesses since his
score: 10
Reuters UK 27 weeks ago
credit markets have brought stabilization to the economy but it is still not clear when growth will resume, General Electric Co (GE.N 'The credit picture, we think, is improving and that's really one of the fundamentals to getting the broader economy
score: 10
Morningstar.com 27 weeks ago
DOW JONES NEWSWIRES General Electric Co.(GE), the biggest maker of wind turbines in the U.S., wants a trade agency to block Mitsubishi Heavy Industries Ltd. (7011. TO) from importing rival energy equipment
score: 10
CNBC 28 weeks ago
General Electric's hefty finance arm is doing better than it had expected to under the Federal Reserve's base case for the U.S. economy and is an advantage for
score: 10
Globe and Mail 28 weeks ago
The New GE Way McGraw-Hill, 264 pages, $25.95 Jeff Immelt had the good fortune to become chief executive officer of General Electric Co. - but also the misfortune of succeeding the legendary Jack Welch, the man who was virtually everybody
Related Tags
(Gil Scott Heron, oddly enough heard on yesterday's Democracy Now news podcast...)
Please log in or join to add a comment