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GE’s Basic Businesses Are Badly Underperforming, by This Accounting Metric

August 27, 2019

Via: Fortune

Can GE stage a comeback by reviving its fabled collection of industrial businesses that make everything from ultrasound scanners to B-52 engines to turbines for nuclear plants?

That’s the pledge from its newly-installed, superstar CEO Larry Culp, who has praised GE’s “strong fundamentals on which to build,” and promised to “transform the way that we actually work, and run these businesses day in and day out.”

Today, the big news about GE isn’t the fate of those bedrock businesses, but the scorched-earth report from Harry Markopolos. The accounting sleuth who exposed scamster Bernie Madoff charges that huge, hidden losses in its long-term care (LTC) insurance business will soon drive the troubled conglomerate into bankruptcy.

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