January 28, 2016
As a citizen in a first world country that leans on Wall Street for contentment of the wealthy, I am beginning to believe I have the Stockholm Syndrome.
January 28, 2016
Stockholm syndrome, or capture-bonding, is a psychological phenomenon in which hostages express empathy and sympathy and have positive feelings toward their captors, sometimes to the point of defending and identifying with the captors.
Frankfurt, Germany (AP) " Deutsche Bank CEO John Cryan (click here) the bank is making "good progress" on a wide-ranging restructuring despite losing 6.8 billion euros ($7.5 billion) last year.
The bank was hit by 5.2 billion euros in expenses to settle regulatory litigation, and by 5.8 billion euros in write-offs on the value of assets and businesses.
Cryan said Thursday the bank would face further legal expenses in 2016 as it pushes to settle remaining litigation "as soon as possible."
He is leading a push to simplify the bank by leaving or selling risky or less profitable lines of businesses. It plans to shed 35,000 jobs by 2020.
The bank has faced legal issues over rigging of financial benchmarks, and last year paid $258 million for violating U.S. sanctions against Iran and other countries....
As a citizen in a first world country that leans on Wall Street for contentment of the wealthy, I am beginning to believe I have the Stockholm Syndrome.
January 28, 2016
maker Electrolux says it fell to a 393 million kronor ($46.1 million) loss in the fourth quarter from a 970 million kronor profit a year earlier after it failed in its bid for General Electric Co.'s appliance business.
The world's second-largest appliance maker after U.S rival Whirlpool, Electrolux said sales rose only 1 percent to 31.8 billion kronor ($3.7 billion).
Earlier this month, CEO Keith McLaughlin said he would retire Feb. 1, and would be replaced by Jonas Samuelson, current head of an Electrolux division for Europe, Middle East and Africa area.
Electrolux said Thursday Dan Arler had been tapped to become head of its European appliances unit, while Alan Shaw was named new head of Electrolux's North American unit.
Stockholm syndrome, or capture-bonding, is a psychological phenomenon in which hostages express empathy and sympathy and have positive feelings toward their captors, sometimes to the point of defending and identifying with the captors.
Yeah, it is strange to think of GE merging in order to survive. Immelt reassessed with a rapidly changing investment environment with China's instability and oils crash. That is what a CEO is suppose to do. A CEO isn't suppose to set his goal to reach the end of the cliff and keep on going.
October 11, 2015
By Lewis Krauskopf
General Electric Co (GE.N) (click here) raised its 2015 outlook for its industrial manufacturing businesses on Friday as it reported a 5 percent increase in its quarterly industrial profits, helped by stronger performance in its power division offsetting weak oil segment results.
Revenue for GE's manufacturing businesses rose 5 percent, when excluding the effects of currency swings and deals, and cost savings helped profit margins improve more than some analysts expected.
GE shares rose 1.5 percent in premarket trading.
Investors are focused even more greatly on the U.S. conglomerate's manufacturing of big-ticket products such as jet engines and power turbines as GE Chief Executive Jeff Immelt backs the company away from financial services.
"These are good numbers," said Tim Ghriskey, chief investment officer at Solaris Asset Management. "The organic growth rates were quite compelling in various parts of the industrial segment."
