, Columnist
GE's Mixed Message Keeps Ghosts Around
He seems to be trying to strike a balance between a radical reset and the old GE. It's not working.
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It's in with the new, but only kind-of-sort-of out with the old at GE. And that pitch just isn't working for CEO John Flannery.
A day after presenting an underwhelming revival plan that's largely premised on a multi-year grind through cost cuts and tough earnings challenges, Flannery went on CNBC on Tuesday morning to take a second stab at the messaging around his efforts. I don't think he did much to help his cause; shares of General Electric Co. started dropping precipitously during the interview and were down about 7.3 percent as of 12:45 p.m. in New York. That's after a 7.2 percent slide yesterday.