Having blown through $9 last week, GE is crashing back below $8 for the first time since March 2009’s freefall after new CEO Lawrence Culp failed to inspire optimism in a CNBC interview…
General Electric’s most important goal is cutting its debt levels, Chief Executive Officer Larry Culp said in his first public comments since the company spooked investors with its third-quarter earnings report last month.
“We have no higher priority right now than bringing those leverage levels down,” Culp said in an interview Monday with CNBC.
“I think we’ve got plenty of opportunities through asset sales to do that.’’
And investors are not impressed…
As we noted previously, GE is now unchanged since 1995… ($5.7279 was intraday lows in March 2009 and a $6.66 closing low on March 5th, 2009)
And default risk is spiking…
