it's much worse i know that there are those in g.e. i'm shocked especially as a military contractor they are on the brink apparently if you talk to certain people i mean look back in 2000 g.e. was one of the america's most prominent country come companies to its entire career i mean in the year 2000 they were valued at $600000000000.00 and the fact that now their belt tightening now they're worried just you know 19 years later about that scary time they employed over 300000 employees in 150 u.s. back to 176 manufacturing plants in 30 other countries their original pensions plan which was very good brought people to the middle class brought people retirement they worked there employed 485000 employees allowed them to retire on the original pension plan. well and this is where all of you know as we're going into the night and the next election and the next sort of season. here in america starting a new season soon. next fall one of the or things that keeps coming up is this idea that you can't afford insurance unless you have in last yea

s well they they're still doing quite well not only to g.e. shell out a $10000000.00 golden parachute to its last c.e.o. the new c.e.o. mr culp's new 4 year deal signed just a year ago could net him as much as $21000000.00 a year. my friends i think it's safe to say that it's a good watch or the whole. you. want to. treat the sick like you are real that this would seem. as if you were to fly out of . touch with the day like you but i got. the police. to. see how. well the watch of the hawks i am i robot and i'm taffeta lawless oh gee golly gee gee it's interesting as we were talking earlier about this the 1st time i really understood why really got why corporate conglomerates were a bad was during a stint in the mid to late eighty's and was when you had mentioned that g.e. bought n.b.c. and david letterman famously kind of rest on that and you know we showed up to you how to think about toaster ovens and part of what he was making a point of saying even told johnny carson on another and base a show that was owned by g.e. this idea of of this c

it shows that was my g.e. this idea of this company that sells toaster ovens and all this at the time having control over and not just what david letterman says on a chat show but what the news says and how that is and that the news is playing and there's a commercial and he made those points and connected and so it's interesting there we are 2030 years later. it's much worse i know that there are those in g.e. i'm shocked especially as a military contractor they are on the brink apparently if you talk to certain people i mean look back in 2000 g.e. was one of america's most prominent country companies to its entire career i mean in the year 2000 they were valued at $600000000000.00 and the fact that now their belt tightening now they're worried just you know 19 years later about that scary time they employed over 300000 employees in 150 u.s. back 376 manufacturing plants in 30 other countries their original pensions plan which was very good brought people to the middle class brought people retirement they wor

s well in a they're still doing quite well not only did g.e. shell out a $10000000.00 golden parachute to its last c.e.o. the new c.e.o. mr culp's new 4 year deal signed just a year ago could net him as much as $21000000.00 a year my friends i think it's safe to say that it's a good time to start watching the hawks. it's. like you know that i got.

universal which is why many are now how shall we say concern over the cracks that have developed in g.e.'s now evaporating profits in recent years cracks that have led general electric chief executive larry culp to start freezing its pension plan for about $20000.00 u.s. workers and offering pension buyouts 210-0000 former employees of the conglomerate joining the ranks of u.s. companies phasing.

born multinational corporate giants there are very few that can come close to general electric or g.e. on that truly iconic scale 1st incorporated back in $892.00 is the result of a massive merger between the thompson houston electric company and the edison general electric company is and yes thomas edison the inventor and businessman by 896 general electric was one of the founding 12 companies that made up the newly created dow jones industrial average g.e. is the only one of those 12 that is actually still in business today and what a business in its 127 year history g.e. has had its hand in everything from light bulbs x. rays refrigerators to televisions to commercial jet engines nuclear power plants military contracts even films and television production one of at one time is owned and b c universal which is why many are now how shall we say concern over the cracks that have developed in g.e.'s now evaporating profits in recent years cracks that have led general electric chief executive larry culp to start freezing its pension plan for about $20000.00 u.s. workers and offering pen

nd the third company is g.e.it is good or is this the case of not as bad that everyone thought? >> i think it's a little bit of both. alix: ok >> i do want to give them credit. they're singing stabilization in the power unit better than expected, free cash flow they had initially call forward significantly more negative number. and now they expect it to be as negative as it was last year in terms of the cash outflow which was about $2.3 billion last year. there's still a long way to go here and it's important to keep in mind that at the beginning of the year, aimless work wasn't bracing for g.e. to have negative free cash flow. that was the guidance number put out thereify the c.e.o. and it caught the market by surprise at the time when he did that. so now we're level setting back to where expectations were going into january which i think is interesting. and then there's just a lot of work here to do. they're cutting back their estimates for how much they're going to spend on restructuring. part of that is they

employees and looking to buy out pensions for roughly 100000 former employees g.e. which is one of the last major u.s. companies offering traditional pension programs says the retirement programs were under funded by one. $7000000000.00 at the end of last year the company now says a sweeping change to the program will reduce that deficit by up to $8000000000.00 the company contributes $6000000000.00 to the pension plan and 2018 to reduce the deficit saying that it will contribute another 5000000000 dollars and 2020. $20000.00 u.s. employees will no longer receive the benefits of the plan starting in 2021 these workers will instead receive vested benefits and join g.e.'s for a one k. plan getting an extra 2 percent of their salary for the following 2 years the freeze also applies to 700 employees who were promoted to executives before 2012 and were given a supplementary pension the freeze will not affect union workers or nonunion production workers. more workers are being furloughed and talks have taken a turn for the worse between car manufacturing giant g.m. and un

. >> next week the fed and then facebook, apple, starbucks, g.e. let's get to the judge. >>> carl, thanks. i'm scott wapner. we are on record watch as stocks surge. so is this the beginning of the long-awaited breakout? it is 12 noon and this is the halftime report. >> the road to record highs. the stocks that are fuelling this market, and how you position your portfolio from here. another huge week for earnings ahead. and a major moment for f.a.a.n.g., alphabet, apple, facebook on deck. shares of goldman sachs up more than 25% this year. and a big new bull call on the street about the stock. we'll debate. the investment committee is ready to go. "halftime report" starts right now. our investment committee at the table today, the portfolio manager at eaten vance. we begin where else? the market. stocks have been ramping in the past 30 minutes, got above the closing high on the s&p on a big day for the semis thanks to intel. all but hitting a new record, as well. names like jp morgan, so many more hitting 52-week highs today. we are about a point aw

even your global sometime consultant to begin to g.e. is skeptical clean coal has been a rush for very many years it would be wonderful if you could actually have all the benefits of the cheapest fossil fuel and cut the carbon emissions but it turns out it's fairly expensive to do on the on the coal fired power plant that is actually takes out some of the energy that you would otherwise produce so it has real cost and of course you also have to store it securely and there's been a lots of conversations about that we've not really seen it right. and we certainly haven't seen it running cheaply so again it's one of the things that we should investigate but we're not ready to do it any time soon. back in copenhagen old me citizens continue to do their bit for the virus. dr long bull doubts his compadre it's whatever except the real cost of the bad thing fossil fuels. most people are not content to only be able to charge their phones or have to have their t.v.'s running or indeed they're operating terrorists and and hospitals running when th

g.e. radios without any. tech hardware or software from the u.s. and you're going to continue to see those kind of developments what's difficult to understand is that the u.s. will be walking away from about a half trillion dollars a year in business and that's a business that will not be replaced by saying a half a trillion i mean the value american companies make in china and south here and also what they export back to united states and what is imported back into china from united states so this is a very big number there's no market to make it up right so it's a little bit strange how this is going to turn out gordon and sol and nasim to think that the americans will hurt more from this prolonged trade war with china and the chinese well do you agree with that. i certainly don't you know last year china's merchandise trade surplus with the united states was 119.3 percent of was overall surplus you know that's overwhelming dependence on the u.s. i mean the overriding reality is the u.s. market and also you know we're not america is not a trade d

you know to kind of impose that i mean obviously there's certain states in the us that produce g.e. maybe not quite as good as the italian parmesan but. yeah that's kind of a kind of a humorous poke i think it towards towards the state department in and from the initiative if these trade tariffs are put into action by the u.s. on october the 18th what could the next few months look like from an economic and diplomatic perspective i think. you know we've got it's a very complicated world out there right now i mean this this could this we won't necessarily see immediate impact in especially when you look at aircraft aircraft or long. you know long lead time air items so i ming many of our airline buy from both boeing and from from airbus and this could this could have ramifications down the line on their bottom line as well so i could see not necessarily in the near term but a long term you could see prices increase on aircraft well you could see prices increase from other fall of being terrorists it's not the companies it's not the kind of trees that pay for that it's the average per

alternative to look at would be the latest indian economics nobel laureate which is a huge advantage g.e. who has a balanced track record of both criticising some of the steps taken by our government as well as supporting some of the deep seated reforms that the more the government is embarking on. but there are plenty of examples where you've been squeezing the space for free speech or that you know that's not true really that's not true because we hear this week after week when people claim that their right to free speech is being squeezed and where do we hear this we hear this in television debates we hear this in newspaper columns and we hear this online statement we hear this in public protests in india that's what i don't hear you think freedom house is the latest report which says that despite a vibrant media indian journalists risk harris meant death threats and physical violence in connection with their work such attacks are rarely published some of taken place with the complicity or active participation of police. i think it is shameful whenever any journalist is attacked indee

g.e. radios without any. tech hardware or software from the u.s. then you're going to continue to see this kind of developments what's difficult to understand is that the u.s. will be walking away from about a half trillion dollars a year in business and that's a business that will not be replaced by saying half a trillion i mean the value american companies make in china and south here and also the export back to united states and what is imported back into china from united states so this is a very big number there's no markets to make it up right so it's a little bit strange how this is going to turn out gordon and seoul and nasim to think that the americans will hurt more from this prolonged trade war with china and the chinese well do you agree with that. i certainly don't you know last year china's merchandise trade surplus with the united states was 119.3 percent of its overall surplus you know that's overwhelming dependence on the u.s. i mean the overriding reality is the u.s. market and also you know we're not america is not a trade depend

. >> next week the fed and then facebook, apple, starbucks, g.e.e judge. >>> carl, thanks. i'm scott wapner. we are on record watch as stocks surge. so is this the beginning of the long-awaited breakout? it is 12 noon and this is the halftime report. >> the road to record highs. the stocks that are fuelling this market, and how you position your portfolio from here. another huge week for earnings ahead. and a major moment for f.a.a.n.g., alphabet, apple, facebook on deck. shares of goldman sachs up more than 25% this year. and a big new bull call on t

natural gas, g.e.'s price? that's turbines. roku has disrupted cable tv. facebook and alphabet disrupted traditional publishers rent the runway the apparel business harry's and dollar shave club disrupted razors by the way, dollar shave, it is so sharp it cut me last night. i had to put the tissue paper on you see it it's like this i went. i think i slit my throat with this i think this. it's too sharp the cloud plays have obliterated on premise software. right now it feels like there are fewer and fewer stocks that are immune to disruption third, some markets are too ugly to participate in at the moment. the auto industry is in awful shape and now gm is on strike. no paint, no glass, no seats, no aluminum, no nothing anything with auto exposure is likely to miss numbers that's deadly in this environment. then there is boeing which is weighing down the whole aerospace industry there are so many companies that make parts for airplanes, i expect them to cut when they report fossil fuels, toxic. this also equities tends to plastics, which younger hedge fund m

proper foundation or proper landscape to prove in advance our work, and we signed the mou with the g.e. company in the field of energy. libya is a wealthy country when comparing the resources to a number of citizens and has elements of attraction based on its natural resources and geographic position, and the shores with 200 kilometers the libyans can raise the stature of their country, and so it is time under the umbrella of a democratic country to agree with the cultural diversity and love. thank you for listening. thank you. >> thank you so much for your kind words and sharing your thoughts on what is happening in libya, a topic that most of us have been following in the news for years up and down. i will reserve the right to ask my own questions, but let me start off with questions from the audience. anybody specific? okay. heads towards there and deborah and bill and professor. can i start with deborah first, please. any microphones? >> thank you. deborah allen from washington. if you have the proverbial one wish from the government of the united states, what is the one thing that

kevin mcallister joined in 2016 from g.e., so he was there for less than three years, joining after muchf the certification process for the max had been completed, but there's lot of report from customers that he just was not present enough and proactive enough in managing their concerns while the max stays grounded. romaine: brooke, always great to have you. guy: let's talk about brexit. it's the other big story we're watching. the e.u. appears to be getting closer to granting another extension. let's figure out what happens next. the managing director of emea and global fiscal research, joins us now. christopher, the big question 130 on the 20 to cable rate. brexit. a no, no-deal read the political tea leaves for me. >> well, guy, i guess the fundamental drive is now whether there's going to be the timing of a general election in the u.k. there's two options, a snap election in the next few weeks, or that would be pre brexit, because implementing the legislation has been held up and amended to the dissatisfaction of the u.k. government and the prime minister johnson all the u.k. electi

some time consultant to begin a g.e. is skeptical clean coal has been a mirage for very many years it would be wonderful if you could actually have all the benefits of the cheapest fossil fuel and cut the carbon emissions but it turns out it's fairly expensive to do on the on the coal fired power plant that is actually takes out some of the energy that you would otherwise produce so it has real cost and of course you also have to store it securely and there's been a lots of conversations about that we've not really seen it running and we certainly haven't seen it running cheaply so again it's one of the things that we should investigate but we're not ready to do it any time soon. back in copenhagen citizens continue to do their bit for the. doctor lobel doubts his competitor gets whatever except the real cost of abandoning fossil fuel. most people are not content to only be able to charge their phones for how have their t.v.'s running or indeed their operating theaters and hospitals running when the sun is shining and wh

he was former head of g.e.'s aircraft engine business.ng losing about $30 billion in market cap since these crashes. we see muilenburg set to testify the end of this month in d.c. charles: i'm one that will criticize a board but i think in this case, the board did probably the right thing. keith, before you go, want to bring you back in. you've got three big names to watch. in fact, you are calling them the big as, apple, alphabet and alibaba. tell us. >> all right. so i'm looking obviously at china and looking at big data and looking at things that are not in the regulators' crosshairs. i think all three of those companies are key buys if you can get the market to cooperate a little bit here. very excited about all three, even in the face of everything that's going on. charles: you own any of them? >> yes, as a matter of fact. family owns all of them, personally do not. and company recommends but does not own. charles: you're the best. thank you very much. >>> peloton, that stock down 22% from its ipo. now there could be competition comi