Where have we heard this before?
Mr. Mike Neal, head of GE Commercial Finance, in a long interview in the Financial Times today, is quoted saying: “we have to return a certain amount of profit to our parent company but have to do that in a predictable way”
Also, the article refers to sale of real estate ‘which helps him deliver the predictable earnings demanded by Jeff Immelt, GE’s chief executive’.
Maintaining a set and predictable growth in earnings? I seem to remember that that was the strategy of Mr. Maurice Greenberg, ex Chairman of American International Group.
Do we have something to worry about here?
OAM
See article:
As times get tougher for America's biggest financial services groups, the second-quarter results from Mike Neal's business stand out.
Days before Citigroup announced its first fall in quarterly profits for more than four years, Mr Neal turned in another set of sparkling figures with earnings up 25 per cent to $1.22bn.
See full Article (paid subscription required).
Posts
