This may be time to pull the Buffett rule- when people panic- buy. There is no reason GE should be at 17/share and their restructure plan seems sound.
I have to admit I have kind of a soft spot for General Electric, since I grew up with a few of their
appliances in our home and my first pocket transistor radio was made by GE . . .
(Mom traded that little beauty in for an Electrolux in 1962, but it had to be done. In its last four years
of life, something went wrong with the thick motor cushion that actually kept the motor quiet, and whenever
you used the upholstery nozzle or the crevice tool it would make this screaming buzzing sound like a hive of
hornets on LSD. I think the last straw was when a new neighbour in the next apartment complained too
often to the landlord. There are crazier reasons to trade up for the original real Electrolux.)
(. . . and boy was I glad when Dad told Mom to get rid of
that monstrosity---the motor was louder than
a leaf blower on the
lowest speeds, so you don't want to know about the racket from speed four forward;
they were always replacing beaters because they warped, and when Mom dumped it and Dad brought home a
'62 Sunbeam Mixmaster, it was like . . . well, imagine being liberated now from a death mental concert and
and brought to a chamber orchestra concert. The Mixmaster's highest speed was
Clair de Lune compared
to that old Triple-Whip's Black Sabbath on lowest speed. I still can't believe Ozzie and Harriet had one of
those God-awful Triple Whips in their kitchen . . . must have been sponsor product placement, because
if Ozzie had really bought one for Harriet she could have charged him plausibly with spousal abuse.)
(That was actually a pretty good little toaster, and was pretty good for making small meat loafs and
grilled cheese sandwiches and pot pies.)
