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GE shares fall on report that its finances are worse than disclosed
(Reuters) - General Electric (GE.N) shares fell 7.5% on Thursday after Harry Markopolos, the whistleblower in the Bernard Madoff Ponzi scheme case, said GE’s financial filings were masking the depths of its financial problems. In a 175-page research report, Markopolos accused GE of hiding $38.1 billion in potential losses and asserted that the company’s cash situation was far worse than it had disclosed.
“GE’s true debt to equity ratio is 17:1, not 3:1, which will undermine its credit status,” Markopolos said.
The report says GE is insolvent and asserts that its industrial businesses have a working capital deficit of $20 billion.
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https://www.reuters.com/article/us-ge-ac...SKCN1V519M?
![[Bild: GEc1dl1119.png]](https://finviz.com/publish/081519/GEc1dl1119.png)
(Reuters) - General Electric (GE.N) shares fell 7.5% on Thursday after Harry Markopolos, the whistleblower in the Bernard Madoff Ponzi scheme case, said GE’s financial filings were masking the depths of its financial problems. In a 175-page research report, Markopolos accused GE of hiding $38.1 billion in potential losses and asserted that the company’s cash situation was far worse than it had disclosed.
“GE’s true debt to equity ratio is 17:1, not 3:1, which will undermine its credit status,” Markopolos said.
The report says GE is insolvent and asserts that its industrial businesses have a working capital deficit of $20 billion.
..
......................
https://www.reuters.com/article/us-ge-ac...SKCN1V519M?
