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To: Lucretius who wrote (156085)	3/18/2002 5:40:11 PM
From: mishedlo	Respond to of 436258

GE - WTF is going on here? cbs.marketwatch.com What the heck is GE doing? If you add in the $11 billion from the bond offering last week with what's in the above link, they are attempting to raise more than their book value if I am not mistaken. Note that GE reiterated "guidance" again today for the umpeenth time. Are thay having some sort of problem and using this crap to look ok? Something very messy is going on at GE and I can smell it. Most likely with their credit division, GE Capital. At any rate..... also add this to your calculations: General Electric to split off Employers Re unit-WSJ NEW YORK, March 15 (Reuters) - General Electric Co. (NYSE:GE - news) is in the early stages of considering a plan to split off Employers Reinsurance Corp., its property-and-casualty insurance unit, the Wall Street Journal reported on Friday. The move could involve an initial public offering of 20 percent of the unit later this year, the Journal said, citing people familiar with the matter. An IPO could be expected to value the business at $8 billion to $10 billion, the Journal said. General Electric was not immediately available to comment on the Journal article. ``Since Employers Reinsurance was acquired in 1984, it has generated nearly a 22 percent return on investment. Today, however, the property and casualty market suffers from a challenging pricing environment, escalating claims costs, soft contract terms, the September 11 attack and a toughened investment environment,' GE said in its 2001 annual report. After the 20 percent IPO, the company would probably wait for a tax opinion before spinning off the remaining 80 percent, the Journal reported. Among the investment banks interested in the IPO are Goldman Sachs, Morgan Stanley and Merrill Lynch, the Journal said.