It is a sad day for General Electric. The Dow Jones Industrial Average index committee has decided to give GE the boot. GE was an original member of the Dow and had been part of the 30-stock index continuously since 1907. It was the Dow’s oldest constituent.
Once America’s most venerable industrial company, GE stumbled badly at the hands of former CEO Jeff Immelt. Mr. Immelt should have been shown the door years ago, but the board kept him around. GE is now a shadow of its former self and the current CEO was pushed into cutting the dividend (another poorly handled decision) and selling-off businesses to improve profitability.
GE will be replaced by Walgreens.
The following two tabs change content below.
Jeremy Jones, CFA
Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.
Latest posts by Jeremy Jones, CFA (see all)
- American Stocks Can’t Outrun the World Forever - April 25, 2019
- Just Four Stocks Have Generated Half of the NASDAQ 100’s Gains in April - April 24, 2019
- Will Every Recession Now Demand Extraordinary Fed Intervention? - April 23, 2019