Re: [A-List] US legitimation crisis: GE and other related garbage

["Michael Keaney" <michael.keaney@xxxxxx>]

Henry writes:


GE has been a dead horse for more than two years. I was among the first
on the internet to focus on GE Capital on the New Forum list.  GE assets
are melting value fast. Without vendor financing, GE can't sell
anyhthing. It is the leader of a bunch of walking dead corporations that
are being keep from collapse by low  (actually negative real ) interest
rates.  The only thing worse than a dead company is one that refused to
lie down after it dies.

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Henry, I think many here would appreciate if you included the A-list in your
distribution of analyses of GE and other walking dead corporations. We need
more of this kind of information, if only to relieve us from the manic
denials of the kind "absolutely not, no way, not on your life is this
Japan...". The capitalist media is of course tasked with cheerleading the
system no matter what, but much US reportage takes an overly nationalistic
tone, emphasising the "strengths" of the US model whilst pointing to the
perceived weaknesses of Germany and Japan, for example, whose primary flaw
it seems is not to have replicated the US financial structure.

A while back I forwarded to the list a nice little article by John Plender
in the FT based on an observation by James Grant which highlights how the
most overrated bore in corporate history (Jack Welch) boasted in his memoirs
("Straight from the Butt") of how he would ensure that GE's financial
results were massaged in the most flattering way possible.

See http://archives.econ.utah.edu/archives/a-list/2001/msg05637.htm

Is this not enough for an indictment?

Michael