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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
Halle Berry is walking away from a role as a transgender person, saying she wants to use her “voice to promote better representation on-screen.” Earlier this year, Berry was cast as a transgender man in an upcoming film.Berry faced criticism for taking the role, and for comments she made during an Instagram Live interview while talking about studying for the role, in which she mis-identified the gender of the character, repeatedly calling the character “she”.This week the actor apologized for her remarks and said she is stepping away from the role. 562
Grateful for all of the law enforcement officers who support us and help get us safely to where we are going each day. Thank you for all you do!— Mike Pence (@Mike_Pence) July 30, 2020 192
Getting interrupted by a telemarketing call or a robocall is annoying. Plus, when there is one robo call, another is sure to follow minutes later. Whether it’s your landline or your cellphone, the Nomorobo service claims it has stopped more than 670 million robocalls and counting.Mary Lee Chin is a believer. She uses Nomorobo because she used to get nervous when she received robo calls at night, assuming something had happened to her kids. She was already on the "Do Not Call" list, but it wasn’t screening all telemarketing calls. So, she decided to sign up for Nomorobo.The FTC recognized Nomorobo as the winner of its robo challenge, a competition to find new ways to fight back against these annoying calls.Nomorobo weeds out the telemarketer scams, but allows school closings, doctor's office reminders, prescription pickups and weather warning calls to still come through. "It is wonderful, wonderful technological application to free your life up from really annoying calls," said Chin.It’s easy to sign up for the service. You can create an account by downloading the app on your computer or smartphone. You then type in your number and you're good to go. Just know if you don’t like the service, you can turn it off anytime you want. If you have a landline it is free and for cellphones it’s .99 a month. 1380
George Papadopoulos did not want to go to prison Monday. But 22 months after he first lied to the FBI about his contact with Russians while working for the Trump presidential campaign, the first person charged by the office of special counsel will do his time.Papadopoulos will surrender at the federal prison camp in Oxford, Wisconsin. He will serve a 14-day sentence, then be on probation for a year. He will also pay a ,500 fine and participate in community service.More than a year ago, Papadopoulos was a surprise early target in the Mueller investigation and since then has swung from working for the President, to turning against him and back again."The truth will all be out. Not even a prison sentence can stop that momentum," Papadopoulos wrote to his 74,000 Twitter followers Sunday night, as he prepared to travel north from Chicago, where his parents live. "The wool isn't going to be pulled over America's eyes forever. Much love."The final lurch of Papadopoulos' legal situation and public unrest comes after he swapped legal teams, lost last-minute requests to the judge to pause his sentence and after his wife asked for a presidential pardon online and in various media interviews. 1209