What should I expect? riots from angry pensioners? booing? I wonder how hostile the crowd will be. Hecklers? Anyone going?
Wow tough crowd. The crowd primarily consisted of old folks, lots of folks with canes etc.. Lots of GE retirees with like 50,000 shares etc.. pissed at the dividend cut etc.. They hate CNBC and feel it should be more like FOX. lots of anti obama talk, how GE is in bed with obama and using CNBC as a propaganda arm. Rick Santelli was mentioned as well, GE share holder revolt talk. Some folks talking about GE tea party etc.. Pissed off old folks waving canes. I did get to meet the CEO etc.. Lots of these GE shareholders seem a bit out of touch and clueless. And most have big blocks fo 40-50K shares.
thanks for the details. Were there any particularly insightful questions that got addressed during the meeting?
Q- When are you going to admit that your finance unit has bankrupted the entire company? A- (crickets and tumbleweeds)
Same old boiler plate stuff. nothing new. But I found the crowd reaction and makeup interesting though. Lots of stupid questions about crap like why did you cut the dividend, or CNBC should have more family values etc. primarily a gripefest. Folks were particularly pissed about a redneck comment by someone in CNBC. Lots of dumb money to be honest, most have 100% in GE stock and pretty much have no real understanding in economics etc.. Why the hell would you be 100% vested in one stock and expect to live soly on the dividends from one stock? Although the Directors did get relected, GE breakup study failed by 95+% Employees seem to be lifers, 30 or more years with the company, old school. One of the last oldschool companies. Also the bathroom was crowded. Entire board myself, CEO etc.. waiting for stalls to take a piss. Kind of funny. After the ajournment.
They had plenty of refreshments in the morning, I loaded up on carbs. (Stuff you would get in a big convention, fruits,pastries,coffee,etc..) But it felt like Century Village though I think the mean age was like 60+ I was waiting for someone to tell me to get off my lawn. Holy crap. not even any MILFS. Altough some of the GE chicks were cute, about 2 I would say. Only 1 black person in the crowd. Mostly white white folks. Will be interesting to see what happens as these folks die off in the next 3-4 years and blocks of 50K or more get dumped on the market.