Skip to main content
The Meltdown

GE, Goldman Take Hits

Concerns over GE’s financial services arm.

Give General Electric’s CFO credit for a new euphemism: He said that the industrial giant is anticipating “headcount reductions.” There is concern that GE’s financial services unit, GE Capital, will drag down the company’s overall results. Today, GE hosted a conference call to shore up confidence in the unit, but some say that CFO Keith Sherin’s participation forebodes bad news. In other meltdown news, Goldman Sachs is likely to report a net loss of $5 billion for the last quarter, which is more than five times as much as analysts were predicting.

Read it at Financial Times

TRENDING NOW