General Electric's latest annual update to shareholders justifies a below-consensus view on earnings and free cash flow, according to widely followed J.P. Morgan analyst Stephen Tusa.
The embattled industrial company released its annual report late Tuesday and went into greater detail on the state of its insurance liabilities and how its financial and industrial arms work together. But that wasn't enough to pacify some analysts, including Tusa. Tusa said the latest annual report has a lot of incremental disclosures that are a challenge for average investors to understand."There are still a myriad of moving parts between and into and out of GE and GECS, a significant amount of restatement versus the 2017 10-K, and even another reclassification of cash flow from operating to investing which was $5 billion," he said.
Maybe the Fed should step into the free market when global monstrosities with pensions that were raided by 'smart money' to insure those lower than executives are compensated for their decades of hard work; you know, instead of propping up a 'dream' that died generations ago.
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