Jeff Sprague Says He Hasn't Had a Positive Rating on GE Since 2008
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 13 November 2017
⏱️ 30 minutes
🧾️ Download transcript
Summary
Jeff Sprague, founder of Vertical Research Partners, predicts upwards of ten percent of General Electric staff will be out the door in the next 36 months. Prior to that, Seth Masters, the former CIO of AB Bernstein, says the changes at GE symbolically highlight the passing of the baton from the U.S. being defined as a great manufacturer to the industry contributing to a smaller portion of GDP. Jared Bernstein, a senior fellow at the Center on Budget and Policy Administration, says the $1.5 trillion loss from the tax bill makes the GOP look like fiscal chicken hawks. Finally, Ed Hammond, a senior deals reporter at Bloomberg News, says Qualcomm rejecting Broadcom is the least surprising news of the day.
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| 0:17.6 | And context changes how you see things, how you change things, because context changes everything. Go to Bloomberg |
| 0:24.6 | dot com to get context. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura. |
| 0:44.8 | Daily, we bring you insight from the best of economics. |
| 0:47.9 | Finance, investment, and international relations. |
| 0:50.9 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, |
| 0:57.0 | on the Bloomberg. |
| 1:00.0 | Seth Masters joins us now from our Bloomberg 1130 studios as I said the |
| 1:05.3 | former chief investment officer dabe |
| 1:07.2 | Bernstein great to have you with us and let's begin with that with this news |
| 1:10.4 | about General Electric what it says to you about the company itself or industrial's in particular with this |
| 1:15.0 | new news about General Electric, what it says to you about the company itself, |
| 1:14.0 | for industrial in particular, what we're seeing here |
| 1:16.0 | with this reimagining of or reinvention of General Electric. |
| 1:20.0 | Well, look, I think the General Electric almost defined the manufacturing age for the United States |
| 1:25.7 | and that we are now moving into a world of increasing focus on services and information, |
| 1:32.1 | and they need to pivot into that new world ahead if they're |
| 1:36.2 | going to survive. |
| 1:37.2 | And this isn't an example of the kind of renting transformations that have to happen if companies |
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