Brooke Sutherland, Columnist

Expect More Ugly Surprises at GE

There is still a ways to go before the company becomes worthy of investors' trust again.

January 16, 2018 at 3:01 PM UTC

Updated on

January 16, 2018 at 4:29 PM UTC

Brooke Sutherland is Bloomberg News' Boston bureau chief and writes the Industrial Strength Newsletter. She was previously a Bloomberg Opinion columnist covering deals and industrial companies and an M&A reporter for Bloomberg News.

1516118527_261520776_1-3 — Photographer: Martin Divisek/Bloomberg

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Skeletons keep tumbling out of General Electric Co.'s closet.

The industrial conglomerate on Tuesday said it would take a $6.2 billion after-tax charge in the fourth quarter related to shortfalls in a legacy insurance business within its GE Capital division. GE will also make statutory reserve contributions of $15 billion over seven years to help cover elevated claims.1516113314687