August 28, 2000 seems like a lifetime ago. For investors in General Electric (NYSE:GE), 2 lifetimes ago might be a better description. The world had just seen the turn of a new century, and General Electric was a $600 billion company that had been doing business for over 100 years and in 3 different centuries. All was good – Then, it wasn’t.
I remember the days when General Electric was talked about as being the barometer of the US economy. Somehow, General Electric seemed to do everything right. Jack Welch was revered as the CEO, and his successor, Jeff Immelt, was chosen to guide General Electric into the 21st century.
Just days after taking the reins of one of the biggest companies in the world, 9/11 took place and Jeff Immelt saw everything starting to unravel. At first, it was a slow process with the occasional earnings miss or revenue shortfall. However, by March 4, 2009, General Electric was coming apart at the seams, and the stock hit an intra-day low of $5.87. In less than a decade, the world’s most iconic company lost more than 90% of its value and was on the brink of bankruptcy.
That was then… This is now!……Read the entire article– http://seekingalpha.com/article/3158216-GEs-Move-To-Become-A-Leaner-Giant-Can-It-Successfully-Utilize-The-Share-Buyback-Strategy-Followed-By-Lowes
I think this article basically sums up the way I feel about my investment in GE. I have lived through many periods of ups and downs. My grandparents & family actually experienced what it was like to go through the Great Depression, and I have heard all the stories about what happened. What I have to say about that is that GE was there through it all. If you owned GE stock before the depression, you took a bath after the crash. However, for those who held strong were rewarded in the long run. The stock is still there and the company is churning away. In a few years, it will be revamped and flying high in all its glory- at least, that is how I see it.
If everything works out, I will be very happy with my decision to hold the shares as long as I have. If it does not, I have only myself to blame. However, nothing ventured-nothing gained. So, good luck to all fellow shareholders, and I will see you at the finish line.
Robert the DividendDreamer
AKA — Seeking Dividends
Follow me on Twitter– Seeking Dividends@DividendDreamer
AKA — DividendDreamer