"What has happened to the GE that has always been caring to their share holders??? What a disappointment to so many of us."
"I am outraged, but not because Immelt cut the dividend, but because a class action suit went forward. Christiansen should be a big girl and recognize that there are no guarantees in investing. With the current volatility of the economy and credit markets, it should be no surprise that things can change in relatively short periods of time (i.e., January to March)."
"We should applaud Christiansen for filing her deposition against Immelt. Knowingly deceiving shareholders is wrong is all aspects. However, proving that's the case is another story -- best of luck with the lawsuit. Although GE really doesn't need another headache or cash outflow (if they lose)."
"Class-action suits such as this one only serve one purpose ... to put lots of money in the pockets of the lawyers involved. As a shareholder, when I received in the mail the notice of the class action suit and the proposed settlement, I became outraged alright ... at Christiansen, not at GE."
"Like Karen C., I bought GE based on Immelt's promise regarding the dividend. I think he defrauded stockholders on that promise by cutting the dividend significantly."
"I am also outraged by Immelt and can't understand why he shouldn't be fired when the board meets next month. Of course, we all know that he has them all in his pocket. GE has lost some 80% of its value under his leadership if you can call it that. He is a blatant liar and has been deceitful to the share holders. He should be criminally prosecuted if that's possible!"
"I too feel that GE along with half of the country has been lied to and because of the way the government is being run, it is going to get WORSE. How can a government continue to spend when we are already in DEEP DEBT? As a senior citizen who has saved and strived to do the right thing -- This business of "Oh, I am sorry" is NOT the answer. When I sent in my GE proxy I voted against all the current board members and Mr. Immelt. NOW WHAT?"
"What I find hard to understand is why there is so little rage directed at the Directors of these companies. Many of the Directors have very little ownership in the companies. They are much too close to management, and they should be held to the fiduciary standards the law requires. One lawsuit where personal liability resulted from Director misdeeds and a lot of the dumb pay packages will be gone."
"You're right that Immelt was wrong when he made his dividend promise (I too was fooled and lost); but it's not true that he sold stock -- he hasn't sold any; I believe that he really believed what he said, then succumbed under the pressure of analysts, board members, and the rating agencies."
"GE needs to get back to its basic manufacturing background, and all CEOs, including Jeff Immelt, need to stop making stupid and misleading comments that reverse promises made to shareholders. Unfortunately, I am one that fell into the promised dividend trap and bought GE stock."
"I share the above outrage. They should seriously consider decreasing the cutback. What about Immelt's bonus? He should pay a penalty, not get a bonus."
"Where do we add our name ... Immelt has pulled stunts like this for years. Time to hold him and the board accountable for what they say and DO!"
"I have a 20-odd-year career trading fixed income -- basically from 1979 through 2001 for three major investment banks. A core holding of mine has unfortunately been GE. I have written covered calls, and bought puts against this position, however this stock has not treated me kindly. Anyway, the recent shenanigans with GE have made me a future seller of most stock, but a buyer of corporate bonds. As a 53-year-old man, I should be moving more toward income anyway. Stockholders have been duped over the last 10 years, not the bond holders. As an ex-bond man, maybe I should thank GE for getting back to what made me successful."
"I too bought 1,000 shares of GE at about $12.01 on 1/23/09 after listening to Immelt on CNBC declare strong support for the dividend that week. It is particularly disgusting when he is selling shortly after that!"
"It is certainly true that companies and CEOs should be mindful of what they say. People will base actions accordingly. But at some point it gets a bit ridiculous to examine the roundness and density of the dot above the "i" or the cross of a "t." Calling the dividend sacrosanct is strong language. But, then, these are perilous economic times. Invest carefully and be ready for all contingencies. Ms. Christiansen did neither."