GE (GE) CEO Immelt Sends A Message of Confidence, Buying 50K Shares
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With the stock in the tank, General Electric Co. (NYSE: GE) CEO Jeffrey R. Immelt just disclosed a purchase of 50,000 shares today (11/13) at $16.41-$16.45, bringing his stake to 1,624,324 shares.
While Immelt's buys in the past have been wrong, this one is clearly an attempt to send a message of confidence to the market. A message that GE will make it through this turmoil.
Shares of GE are down 7% today and down nearly 50% over the past three months.
UPDATE: Since the news that Immelt pulled the trigger, GE's Vice Chairman, Michael Neal, has disclosed that he also made some purchases.
General Electric Company (GE) operates as a technology, media, and financial services company worldwide.
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-0.07Comments View All Comments
GE
He make heap fortune off yellow mans back!!
GE/Imelt
Jeff Imelt can eat my ASS!!!
GE
Buy my book!!
GE
Now he wants to golden parachut bail out for govt. too!!
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Immelt has lost the Company
Harry J Reid on Nov 13, 2008 09:24 PMNo leadership and no trust. Jeff has lost his credibility with the employees of GE. He needs to take the high road and resign rather than continuing to embarras himself and the company.