Immelt on Charlie Rose Last Night

Immelt is of interest to me because the dirty little secret of the great bull market of the 1980's and 1990's was simply to overweight in GE stock.
Since the early 2000 or so GE stock has done nothing. My belief, from seeing GE traders at an accounting conference on derivatives in Connecticut in the late 1990's, was that GE was another Enron (in its GE Capital division, now called GE Money) waiting to happen. In my belief GE has been "working off" those hidden liabilities over the past four or five years. All of this is hidden, of course, because the complexity of GE Money's transactions defies description in the annual report or proxy statements.


Now back to Immelt and Charlie Rose:

My first "take" -- I was 1/2 asleep when watching it on TIVO at 3 am:

He's somewhat vague. When asked about whether GE benefitted from its global business and the falling dollar, he said "As a company we are perfectly hedged."

What does that mean? When you think about it that answer could have the opposite meaning of "benefiting" from having so much global.

Close your eyes and he sounds exactly like Tom Friedman.

He's a Cincinnati boy, the son of a GE'r.

GE is so important that I will probably watch this hour again to study what he said.