Monday, October 01, 2018

GE’s $500,000,000,000 Market Wipeout Is Like Erasing Facebook -- Bloomberg

On a related note, see GE ousts CEO John Flannery as it announces $23b writedown (Boston Globe). Tangentially, for a different erasing-Facebook perspective, see Tim Wu's The case for breaking up Facebook and Instagram (The Washington Post)
"On August 28, 2000, Apple’s hottest product was a candy-colored computer, Donald Trump was a New York real estate mogul and General Electric Co. was worth some $600 billion.

Apple and Trump have gone on to greater things. GE? It’s on the verge of a staggering milestone: a half-trillion dollars in market value wiped out since that all-time high 18 years ago. The iconic American corporation is now worth just under $100 billion, its stock at around $11, and investors are signaling they don’t expect things to get better.

The collapse -- an 81 percent drop from the peak -- is all the more startling as it comes amid record-setting market gains. Apple Inc. recently became the first U.S.-based company to top $1 trillion in market value, followed shortly thereafter by Inc."
GE’s $500,000,000,000 Market Wipeout Is Like Erasing Facebook -- Bloomberg

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