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Has long managed to turn a profit from seemingly incompatible industries but thats all changed so its going to shrink operations down to three profitable core businesses aviation power and health care practically Everything Else will be sold off to the tune of twenty billion dollars and flannery is also slashing the dividend only the second time its done so since one thousand thirty eight the eighth biggest dividend cut in its history will help g. E. Avoid a cash crunch. Its of course a big topic and we want to discuss it with our financial correspondent on wall street sophie she mounts the sophie hi good to see you youre at the New York Stock Exchange where weve seen these reactions eight percent thats actually a very big loss is it that investors are really not betting on g. E. s future. Yeah well that is quite a strong reaction i mean the company is one hundred t ....
Going to shrink operations down to three profitable core businesses aviation power and health care practically Everything Else will be sold off to the tune of twenty billion dollars and flannery is also slashing the dividend only the second time its done so since one thousand thirty eight the eighth biggest dividend cut in its history will help g. E. Avoid a cash crunch. Its of course a big topic and we want to discuss it with our financial correspondent on wall street sophie she mounts the sophie hi good to see you youre at the New York Stock Exchange where weve seen these reactions eight percent thats actually a very big loss is it that investors are really not betting on g. E. s future. Yeah well that is quite a strong reaction i mean the company is one hundred twenty five years old has a quite diversified portfolio if not fragmented so focusing and streamlining ....
Because you take the best and brightest out of these countries and keep them here in the u. S. , then where does that leave them back home . Thats a counterdevelopment strategy. So in the short run remittances are a plus. They diminish over time as immigrants have been here more than ten years. Their remittances drop off. Probably because their parents back home have died at that point and so they have les sip yents at home. What about the brain drain . That would be a negative for foreign development. Theres been some study between western europe and eastern europe. Theres a brain drain in the way youre talking about but theres also the return migration and people bring new skills back to the countries at least potentially depending on what the country is. We know it promotes trade because they have trade connections. The trade potentially. Theres no doubt what youre saying is the case, that this is by far the biggest source of foreign aid if you want to keep it that way, these remitt ....
Rulemaking have. And so just want to just remind you that i havent forgotten about that. But i want to ask you about s. E. C. Rulemaking and Small Business. As you know, senator heller and i introduced a bipartisan bill that would create an office of Small Business within the Small Business advocate within the s. E. C. Im wondering if you had had a chance to review that legislation, if you have an opinion. Well, first, let me say that i think we have really prioritized the, you know, the interests of and perspectives if i can say that, and special needs of Small Businesses since pretty much the day i arrived at the commission and taken a number of steps. We have in our division of Corporation Finance an of ....
It all came crashing down. We will talk about that with big daddy graham. It is monday, december 8th, 204. I believe i said 4 00 oclock. It is 5 00 oclock. Dont take us back, please dont take us back we are trying to move forward good we have earn that one hour. Yes, just think how quickly that hour went. Sorry. Were all allowed on a morning where we get started this early. We have a number we have chosen to day. It is a seven out of ten. Early sunshine. It will be a dry day to day but also very cold with increasing clouds. So not a ten but wait until you see tomorrows number, 27 degrees in philadelphia but it feels like 17 thanks to the winds out of the north east at 10 miles an hour. Sunrise getting later and later as we get ready for first day of winter on the 21st. So now we dont have sunrise until 7 10 but we will see on sun when we get started this morning but it is killed out there. Temperatures in the 20s this morning. Thirtys down to the the south. Twentyseven in philadelphia. ....