A lack of pension plan funding is the latest addition to GE Capital’s list of problems which include ongoing investigations, defective products, and a quick turnover for its year-long CEO. GE has roughly 618,000 active workers and retirees covered by fixed payment pension plans worldwide, promising $100bn to cover the cost. The company said it would not comment on specific cases but that “our commitment to providing benefits in good faith remains unchanged”. That’s in addition to problems at GE Capital, growing reserves for long-term-care insurance, ongoing Securities and Exchange Commission and Justice Department investigations, and defects with new power-generation turbine blades, as well as significant turnover in the C-suite. GE price targets continue to fall.
A lack of pension plan funding is the latest addition to GE Capital’s list of problems which include ongoing investigations, defective products, and a quick turnover for its year-long CEO. GE has roughly 618,000 active workers and retirees covered by fixed payment pension plans worldwide, promising $100bn to cover the cost. The company said it would not comment on specific cases but that “our commitment to providing benefits in good faith remains unchanged”. GE price targets continue to fall.