Jun
18
The $31 Billion Hole in GE’s Balance Sheet That Keeps Growing
By-
Pension shortfall is the biggest among S&P 500 companies
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Top brass ‘living in fear’ of activists with short-term goals
It’s a problem that Jeffrey Immelt largely ignored as he tried to appease General Electric Co.’s most vocal shareholders.
But it might end up being one of the costliest for John Flannery, GE’s newly anointed CEO, to fix.
At $31 billion, GE’s pension shortfall is the biggest among S&P 500 companies and 50 percent greater than any other corporation in the U.S. It’s a deficit that has swelled in recent years as Immelt spent more than $45 billion on share buybacks to win over Wall Street and pacify activists like Nelson Peltz…
The $31 Billion Hole in GE’s Balance Sheet That Keeps Growing
