In a delightful symmetry,
GE is now closing off the week the same way it started it,
with its stock sinking after two analysts raised more red flags around the company's liquidity,
while a report said former GE employees were being questioned by federal investigators about its troubled insurance business.
On the sell-side,
Deutsche Bank analyst Nicole DeBlase slashed her price target on the stock by more than a third,
from $
11 to $
7,
over continuing questions on the industrial conglomerate liquidity outlook.
According to Bloomberg,
in DeBlase's model,
GE will likely be able to build up its balance sheet next year with cash flow from its industrial units to around 34 cents a share,
assuming economic headwinds don't worsen in the next three years and debt comes down,
she said.
The bearish "
Downside case"
assumes power unit earnings continue to decline and GE's other business units are hit by a modest downturn.
DeBlase sees the industrial units facing a cash burn of about 21 cents per share next year.
Speaking of her bearish colleagues,
GE's nemesis - JPM analyst Stephen Tusa - who has long been the most bearish GE voice on Wall Street,
said commentary from GE's partner Safran "
Supported his view that profit and cash flow growth at the aviation segment would be below consensus expectations."
Adding injury to sellside insult,
also on Friday Morning,
the Wall Street Journal reported that Federal investigators are questioning former employees of General Electric about details in a legacy insurance business that led to accounting problems at the conglomerate in the past year,
and whether the business failed to internally acknowledge worsening results over the years.
https://www.zerohedge.com/news/2018-11-30/heres-why-ge-tumbling-again
D saved GM. It probably gave Obama Ohio at less than 200,000 votes out of 5 plus million cast.
Looking back,
the GM bailout was a partisan band aid.
What did U.S. taxpayers get for their $
11.2 billion bailout of GM?
Abo.ut te.
The lower and middle sections of the market are dominated by Asia,
and the high end of the market by Europe:
Mercedes,
Audi,
BMW. GM can't compete with the Honda Civic at its price point or with the Audi A7 at its price point.
It isn't winning in the dino-juice-powered market,
in the electric-car market,
or in the hybrid market,
either:
GM is not exactly what you would call a nimble corporation.
GM has a much healthier business selling trucks and SUVs,
a business that it now will focus its resources on - as it should have done long ago.
The GM bailout was a classic case of government picking winners and losers.
https://www.americanthinker.com/blog/2018/11/the_only_winner_of_the_gm_bailout_was_obama_2012.html
A top Democrat and key Clinton operative has been jailed for two years on multiple corruption charges.
Hillary Clinton's former staffer Kathleen Kane was the first female Democrat elected as Pennsylvania's Attorney General and won her 2012 election by a landslide following public endorsements from ex-President Bill Clinton.
According to Fox News,
Judge Wendy Demchick-Alloy revoked Kane's bail saying that the time she could remain free on appeal has expired and ordered the former Democrat official to remand herself to jail.
The Montgomery County district attorney's office formally requested the order earlier Tuesday,
arguing the Supreme Court decision was the end of the legal road for Kane.
"
Two different appellate courts have reviewed her case,
yet her judgment of sentence remains,"
District Attorney Kevin Steele said of Kane's appeals.
A former Hillary Clinton staffer,
Kane was the first woman and first Democrat elected as Pennsylvania's AG but resigned from office immediately after her corruption conviction in 2016.
The lower appeals court also rejected Kane's argument that she should have been allowed to prevent all Montgomery County judges from handling her case,
as well as her claims that evidence against her was illegally obtained and that she had been the victim of selective and vindictive prosecution.
https://neonnettle.com/news/5790-clinton-operative-and-top-democrat-jailed-for-mass-corruption
- Comey filed a motion Thursday to quash the subpoena forcing him
to testify behind closed doors next week to the House, saying such
secret testimony violates Congress's own rules.
- Former
FBI Director James Comey is sworn in during a Senate Intelligence
Committee hearing on Capitol Hill, Thursday, June 8, 2017, in
Washington.
- Comey should not be coerced into participating in an
improper and partisan effort to undermine the legitimacy of an
institution that he served for the better part of four years,
his lawyers argued in court papers.
- Comey to Capitol Hill to
explain his decisions related to the 2016 election, particularly
investigations into Hillary Clinton's use of her personal
email and the probe into Russian activities during the campaign.
- Comey
says in the court filings he'd be willing to talk publicly
but said the closed-door session the House has planned is a set-up.
- He's
asked the federal district court in Washington, D.C., to both delay
Monday's testimony and to quash the subpoenas outright.
https://www.washingtontimes.com/news/2018/nov/29/james-comey-files-case-against-house-republicans-s/
The FBI raided the home of a whistleblower who was in possession of documents regarding the Clinton Foundation and Uranium One,
according to the whistleblower's lawyer,
Michael Socarras.
The FBI rummaged through Cain's home for six hours,
even after the whistleblower handed over the documents,
according to Socarras.
FBI agents raided the home of a recognized Department of Justice whistleblower who privately delivered documents pertaining to the Clinton Foundation and Uranium One to a government watchdog,
according to the whistleblower's attorney.
The Justice Department's inspector general was informed that the documents show that federal officials failed to investigate potential criminal activity regarding former Secretary of State Hillary Clinton,
the Clinton Foundation and Rosatom,
the Russian company that purchased Uranium One,
a document reviewed by The Daily Caller News Foundation alleges.
"
The bureau raided my client to seize what he legally gave Congress about the Clinton Foundation and Uranium One,"
the whistleblower's lawyer,
Michael Socarras,
told TheDCNF,
noting that he considered the FBI's raid to be an "
Outrageous disregard"
of whistleblower protections.
Cain informed the agent while he was still at the door that he was a recognized protected whistleblower under the Intelligence Community Whistleblower Protection Act and that Justice Department Inspector General Michael Horowitz recognized his whistleblower status,
according to Socarras.
"
I cannot believe the Bureau informed the federal magistrate who approved the search warrant that they wanted to search the home of an FBI whistleblower to seize the information that he confidentially disclosed to the IG and Congress,"
Socarras told TheDCNF. The whistleblower act is intended to protect whistleblowers within the intelligence community,
which includes the FBI. "
The is committed to providing its personnel the means to report violations of law,"
according to a 2016 intelligence community directive.
https://dailycaller.com/2018/11/29/fbi-whistleblower-clinton-uranium
- Federal officers seized more than $2.7 million worth of drugs
and arrested nearly 40 people over the last five days at border
crossings in San Diego County and Calexico, officials said.
- Customs
and Border Protection officers “thwarted numerous smuggling attempts”
involving a variety of drugs including heroin, cocaine, fentanyl and
methamphetamine.
- One of the most recent seizures happened at the
San Ysidro Port of Entry early Tuesday when authorities found about 170
pounds of methamphetamine hidden in the vehicle of a man who was trying
to enter the United States.
- Border officers also arrested 14
people wanted on a variety of warrants for crimes that included auto
theft and drug and parole violations.
- An additional 15 people
were arrested on suspicion of human smuggling and immigration violations
like presenting fraudulent documents.
- Federal officers arrested 10 people in connection with the smuggling attempts.
- All
told, authorities seized nearly 580 pounds of methamphetamine, five
pounds of cocaine, about 26 pounds of heroin and 17 pounds of fentanyl.
https://www.sandiegouniontribune.com/news/public-safety/sd-me-drug-seizures-border-20181129-story.html
Thousands of migrants associated with the caravan have been treated in Tijuana,
Mexico for infectious diseases,
ranging from simple respiratory infections to tuberculosis and HIV/AIDS,
according to a recent report from the border.
According to Fox News reporter Griff Jenkins,
who has been reporting from the border for some time,
a spokesperson from Tijuana's health department has confirmed that more than 2,000 migrants have received treatment for a wide array of complaints.
"
They.
have treated 2267 migrants,
60%
with respiratory infections,
3.
confirmed cases of tuberculosis,
four cases of HIV-AIDS,
101.
cases of lice,
four cases of.
chickenpox and hepatitis is a. real concern because of the.
unsanitary conditions,"
Jenkins reported,
noting that some 6,000.
Migrants were "
Crammed in the space intended.
for 1,000.".
"
One of those migrants from.
Honduras seeking asylum says he.
feels he was lied to by the.
organizers from the beginning.
and is worried they are reaching a breaking point,"
Jenkins explained.
TONIGHT:
According to Trump and Fox News,
the migrant caravan is full of strong and dangerous individuals who are also riddled with disease?
Make up your mind,
Trump! #
TrevorInMiami pic.
An embedded MSNBC reporter confirmed several days ago that DHS Secretary Kirstjen Nielsen's characterization of the caravan as "
Mostly adult males"
was accurate.
https://dailycaller.com/2018/11/29/migrants-treated-infections-diseases-lice-tuberculosis/
