It is time for Jeff Immelt to leave. His plans for GE's long-term future are a wreak.
GE's pitch that being in many businesses is better than one and being in businesses in many parts of the world fell apart like a cheap clock today. Infrastructure is the one and only good operation at GE and that has been true for two years. That fact was dragged further into the daylight by the company's most recent results. They are the strongest argument yet that everything other than the company's largest unit should be spun-out.
GE (NYSE: GE) missed most of Wall St's estimates for the first quarter. Earnings were $0.44 compared to a First Call consensus of $0.51 and revenue was $42.2 billion compared to a guess of $42.7 billion.