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FBN’s Charlie Gasparino on the buzz that GE CEO Jeff Immelt would leave his post to head to Washington, DC.
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Charlie Gasparino out of Washington DC and expect them to come back without having.
Dumpster dive hung out dive bars claim you didn't dumpster just came back I didn't -- right you know like you may have been drinking -- likely -- to -- earned and I any of this.
-- -- I think for itself what did you yeah.
It'll I always tell you where my sources are this is just the speculation the bar room space -- when you go to DC I I'm not -- about it you know of -- -- -- I'm going to.
Now the places where the lobbyist hangout with people in the know the work in the staff staffers hang out.
And what are the big things that I was hearing is a lot of chatter about Jeff in gilts future achieved what they're saying.
But people are saving spending in an inordinate amount of time working on this economic council for Obama that the chatter -- we're talking about the chatter okay box hit a confirmed it is.
But the chatter in DC.
Is that somehow.
That this is sort of a precursor of that please EU is days may be numbered AG now -- -- -- choice fight well who knows look at that stock chart I will say this this is this is one of the pre any old lady stocks for the last ten years you have a stock chart of G.
Put that up there it it it sounds a little better -- -- Saturday its intraday and -- -- ninety dollars a share look where was when that would well there was a -- eye on here -- Jenn -- and I really can't when he -- -- it's not doing that well you know was at -- I believe the -- you know -- now we're at a 25 member.
We see that WellPoint she almost went on there during the financial crisis because of the sort of impairment of GE capital he has brought it back one of the ways he brought it back is basically to these government these.
Programs to government subsidies green here's his -- that -- now that social policy with respect to -- the dark but that if you take out that it's still not doing very right Jack Welch left in 2001 bright and -- -- G that you give them credit for bringing the company back from extinction no doubt.
Here's where the problem is he's not brought the stock back he spending what we understand and in -- amount time in -- working on this economic council for Obama.
You become -- -- -- jobs -- he's basically become a a Republican that is now a Democrat and while people pointed affected GE is getting so many subsidies.
And you put in -- the stock price of top of that and you know you hear people talking about him potentially we should point out.
We did called just to run this chatter by him like I'll -- -- a real story and when is that they say you know it's ludicrous he's not leaving any time soon.
And he's -- quote quote -- quote he is not.
Spending a lot of time -- -- -- does he have a starring political stars in his eyes does he want to do something bigger maybe try to take over treasury yourself you know that's a good point I.
I think that if you run a company that was bailed out by the federal government.
I really don't think that you have a shot running a major government and agencies even for DC has too much likely is it I just think that you could you -- would shift in gilts.
Confirmation hearings going to be old I mean this -- -- he's he was walk in the final at the time.
He basis that everything was hunky dory at GE and then turn around and needed to take bailout money as we know that.
You know GE was on the precipice.
Reason why.
It could role in the short term paper they were in GE capital was impaired account reports people that lend the money they need the Harvard every company these people lend the money.
To get through the day to pay all the -- page commercial paper and you know what.
Wasn't getting so that confirmation hearing.
Up a -- I hope he does office that would be an amazing confirmation.
I should point out that you know I don't drive right these sort of that I I talk about this stuff about your headline no he doesn't like you -- -- your back to mutual friends.
-- personally he's a very very nice man -- I -- great I used to work for him when I was at CNBC.
I think professionally there is a question mark about his leadership and it's goes beyond the stock price the fact.
That you have this great American company.
This is an ideological but that's a great American company.
Who's taking up -- so -- subsidies from Washington.
I clearly think that's a story it doesn't get covered it's on all sides -- I think first it was GE capital all the banking sort of side of the business then it became the stimulus dollars so it's all through the company sold to the company like I said the buzz in Washington.
People talking about.
The daddies and is the key they're saying no way -- I think they're denied this Charlie thank you for coming back you look good on a banana -- from the dumpster stump -- more push -- we know you can do 150 right now.
Charlie Gasparino -- talk about today.
