Monday's 50% dividend cut by General Electric (NYSE:GE) was like a one two knock out punch for beaten down investors long the stock. The much awaited investor conference left some with more questions than answers about the company and the path forward.
As one long the stock, I am just plain disgusted with outgoing CEO Jeffrey Immelt's leadership at the helm of this 125 year old conglomerate. The fact that he misguided the street in regards to earnings by the inflating future EPS by 100% is just plain ridiculous; frankly I don't blame investors for fleeing the stock.
Clawbacks?
How does a CEO that destroyed so much shareholder value get a golden parachute retirement package? Immelt in my opinion should give back the last two years salary and bonuses for what he did to investors and possibly face charges.
