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General Electric was blasted on Wednesday by workers, retirees and shareholders bemoaning the downfall of the company they love.At its annual meeting, GE got an earful from employees and investors who pleaded with management to right the ship after a disastrous year."I believe it was arrogance and a series of bad business decisions," former employee Bill Freeda said. "Our board of directors clearly has been AWOL."Another shareholder said: "GE, which was once one of the preeminent companies in the world — the bluest of blue chips — is now an embarrassment."The past 12 months has been one of the darkest periods in GE's 126-year history. A cash crisis, brought on by years of bad deal-making, forced GE to cut its dividend in half and lay off thousands of workers. GE's stock price has crashed by 50%, and calls to kick it out of the Dow have grown louder.Despite the deep criticism of past and current GE leaders, the company's nominees to the board were all elected on Wednesday. None of the shareholder proposals calling for reform were adopted, though one pushing for splitting the CEO and chairman roles received strong support.John Flannery, a veteran GE executive who replaced longtime chairman and CEO Jeff Immelt last year, said he remains "extremely proud" of the company despite its "immensely disappointing" results."We're keenly aware of the pain that our performance has caused," he said.Flannery urged investors and employees to keep the faith and said results from the start of 2018 offer hope."I want all of you to be proud of the company and not lose heart," he said. "I assure you we will not let up until this job is complete."Former GE workers slammed the company for eliminating their supplemental health insurance plans."We built the company. We put it where it is today," said Ron Flowers, president of the Retiree Association of General Electric."Don't just think financially," Flowers urged the board. "Think morally also."Other retirees lamented GE's billion pension deficit, the largest among S&P 500 companies. They questioned whether the pension fund, whittled by years of low rates and inattention, will be around to support them.Flannery said the pension fund is running a "significant deficit," but he said maintaining its integrity is "a deep priority for us." He noted GE recently announced plans to contribute billion to the fund.Freeda, a GE retiree, slammed Immelt for having a back-up jet fly around the world with him on some trips. (GE has said it stopped that practice in 2014. Immelt told the board last year in a letter that he "did not have time to personally direct" the day-to-day operations of GE's corporate air team. He said use of the spare plane was halted once he became aware of it.)"Shareowners should wonder: Were there other serious business abuses?" Freeda said. He called for an independent investigation into questionable business practices under Immelt and urged GE to consider clawing back the former CEO's bonuses.Flannery said that the GE board would take "appropriate steps" if "evidence of serious misconduct" were to emerge. A spokesperson for Immelt declined to comment.GE shareholders voiced stronger support for a proposal aimed at boosting oversight by splitting the CEO and chairman roles. About 41% of shares were cast in favor of the bid, up from 24% last year.In light of accounting concerns at GE, shareholder support for KPMG as the company's auditor dropped sharply. Just 65% of shares were cast in favor of ratifying KPMG, down from 94% last year. KPMG has been inspecting GE's books for 109 years, leading critics to argue they've become too cozy.Martin Harangozo said he was fired by GE with no severance after raising questions about "bad" accounting."GE transitioned from an honest company to a dishonest company," Harangozo said.Underscoring the challenges facing GE, Moody's lowered its credit outlook on the conglomerate to negative on Wednesday because of the expected costs of a Justice Department investigation into its subprime-mortgages business.Moody's warned it could downgrade GE's credit rating if the company fails to improve cash flow significantly or if revenue keeps shrinking at the beleaguered power division. GE shares dropped nearly 5% on Wednesday, leaving them down 53% over the past year.One retiree pleaded with Flannery to turn around the company — fast."My whole life has been GE," he said. "Give it all you've got. We're with you." 4465
Hey there! ?? We have received reports of users being unable to start and join Zoom Meetings and Webinars. We are currently investigating and will provide updates as we have them. We sincerely apologize for any inconvenience. Please follow https://t.co/aqz5nS7fZY.— Zoom (@zoom_us) August 24, 2020 305
HAMILTON, Ohio -- Pharmacist's Mate 2nd Class Thomas Jesse Murphy was killed in action in 1943 during World War II. It took 75 years for his remains to be returned home.Murphy was just 22 when he was killed during the Battle of Tarawa in the Pacific theater, according to his obituary. Due to the large number of casualties, Murphy and many others were buried in hasty mass graves and not accounted for.His remains were finally identified last October. Murphy's niece, Chantel Oliver, remembers the phone call."Are these people for real? How do you know this is not fake? How do you know this is really happening? Then when I saw the Navy in my sister's living room, I realized this was happening," she said.A procession carried Murphy's remains from Cincinnati/Northern Kentucky International Airport to nearby Hamilton on Friday. "It's about Uncle Tommy," Oliver said. "Giving him his due."Murphy is being buried in a Hamilton cemetery, next to his family members."We have closure now that we have his remains brought back and laid to rest next to my grandfather," Oliver said.Barbara Holland with the group Honor and Remember knows what it's like to wait. Her Uncle Bobby was also killed in action 73 years ago, and still hasn't been returned home. The group was out to help give Murphy a hero's welcome home."We honor the family members who have lost someone," Holland said. "We want to make sure they're remembered." 1449
Herman Cain tweeting about how not deadly COVID is after previously dying from COVID. pic.twitter.com/uzBSMl48et— Kit.?????? (@KitMaxwell_) August 31, 2020 163
Here's what's happening in the world of politics Saturday, April 21, 2018.WaPo: Sessions threatened to resign if Rosenstein was fired-- Attorney General Jeff Sessions reportedly threatened to resign if President Trump fired Deputy Attorney General Rod Rosenstein, who oversees the Russia probe.Sessions reportedly told the White House he would have considered leaving if Trump had fired Rosenstein, though another source told the Post, that the comment was less a threat and more an attempt to convey his difficult position.CNN reported this month that the White House was preparing an effort to undermine Rosenstein.Read more. 665