Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38 billion. Who is correct, GE or Harry?
- A.J.Lv 711 months agoFavorite Answer
Although he could be correct, he seems to be connected to and getting information from a hedge fund that is short selling GE stock and betting on a GE crash. Mergers and acquisitions does put GE in a risky position.
Cash $13.6 Billion
Total Current Assets $96.9 Billion
Tangible Accounting Assets $244.3 Billion
Total liabilities $256.0 Billion
Yahoo Finance reports a $33 Billion negative tangible
At price of $8.79/share closing 8/16/2019, Market cap of 76.71B
They have $110 Billion in debt (I own $20K of it due February 2021)
We know GE is trying to turn the company around. They have $120 Billion in revenue in the latest year.
Harry thinks their insurance and oil business is inflated
If the USA goes into recession, it may show.
- JudyLv 711 months ago
remains to be seen
- Anonymous11 months ago
One or both............... In a year or two we will know.