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Originally Posted by lamboguy
after a 111 year relation, GE just dumped their auditor KPMG.
GE is the company that has been cooking their books for years now. they had all types of gimmicks like pricing their real estate at market to market values and using fake numbers for the value. they have been crunching the channel by pushing their goods to distributors that can't sell them and putting those sales on their books at the end of the quarter, then escalating their sales over and over again quarter by quarter.
now with a new auditor, they will see all this bullshit like flash gordon. i am wondering if they finally have a good CEO and if its time to forget about shorting GE.
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Why in the world didn't they sell their long term care insurance division? That's where a lot of the accounting shenanigans were carried out. (edit) or some reports state they sold a "part" of that division. Instead they sold their lighting division. Not a single insider stock purchase in almost a year.
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Last edited by FakeNameChanged; 06-22-2020 at 12:04 PM.
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