Newport’s Ortel Says GE Earnings Were ‘Dreadful’ (Audio)
Charles Ortel, managing director at Newport Value Partners, says digging beneath the surface of GE’s earnings unearths some ugly truths. He says total revenues went down, pretax income from continuing operations went down and this can’t be blamed on the theoretical idea that in the first quarter earnings were boosted by extraordinary gains at NBC Universal and the sale of 30 Rock. Ortel says GE is arguably number one in most of its operations, yet it isn’t delivering for shareholders in a classic sense. Ortel speaks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage”.
Running time 06:59