Notes from an investor presentation going on right now:
Notes difficult market expected for 2009... pockets of increased liquidity for consumers and mid-market business... industry losses continuing... delinquencies and non-earnings assets pressured in both Consumer and Commercial... says very difficult to execute asset sales in todays market but believe TALF will help.Company also says:
- Liquidity position extremely strong;
- Has enough capital to weather adverse economic conditions
- GECC CP balance about $60 billion in February
- Sherin doesn't see need to raise outside capital (didnt want to leave Vik, Ken and Jamie alone)
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2 comments:
And yet stock only up 2.5%. Seems people aren't buying the news.
Meanwhile, squeeze on Citi in full force. Stock up 14% as I write and was up 24% earlier.
Hey T - FYI, dealers having a call to discuss CEM removal from HY12 and replacement - details to follow.
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