BJRL-20012-110001 KOLLMORGEN gas turbine control I/O module

Description

BJRL-20012-110001 KOLLMORGEN gas turbine control I/O module

BJRL-20012-110001 KOLLMORGEN gas turbine control I/O module

General Electric CEO Jeff Immelt plans to end one of the most difficult times in the company’s history through this redemption. During the 2008 financial crisis, General Electric’s financial services unit, GE Capital, suffered heavy losses due to loan issues, dragging down the entire company. To solve the financial problem, the company had to seek help from the US government and received over $50 billion in aid loans.
Buffett bought some preferred shares of General Electric in October of that year. Prior to this, he also purchased $5 billion worth of Goldman Sachs preferred stock. These two investments are intended to showcase Buffett’s confidence in the aforementioned two companies during the financial crisis. Buffett also compared the financial crisis to the “Attack on Pearl Harbor” of the American economy.
But this investment aimed at boosting market confidence has also come at a heavy cost to General Electric: the company will need to pay nearly $1 billion in dividend income to Berkshire.
Earlier this year, Buffett lamented in a letter to shareholders that General Electric may redeem Berkshire’s preferred shares and called this an “unwelcome” event for Berkshire as it would harm the company’s profitability.