GE (GE) plans to cut its water consumption across the company by 20% between now and 2012. According to Bloomberg "In addition to the first-ever water reduction pledge, Fairfield, Connecticut-based GE also said it intends to have $25 billion in sales of environmentally friendlier products and services by 2010."
All of this is part of the company’s inane “ecomagination” campaign to be more environmentally friendly. Black bears prosper while GE’s shareholders suffer.
Whether GE likes it or not, the PR around its multitude of programs which have little or nothing to do with getting its share price up annoys Wall St. to no end. Investors would like to hear one thing, and one thing only, from the conglomerate’s executives. The company has yet to mount a spirited, logical defense of its structure which includes making and selling jet engines, medical devices, and the TV show "30 Rock". Every time Jeffrey Immelt and his lieutenants take the podium there should be no talk about the company’s plans to save the whales or improve the global quality of life.
Answer one question. Why does the firm’s current structure make sense?
Douglas A. McIntyre
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