❗Help close the gap: We still need to raise $40,000 by the end of March. Donate now

GE reckons with a large debt from an old business

Andy Uhler Jan 16, 2018
HTML EMBED:
COPY

GE reckons with a large debt from an old business

Andy Uhler Jan 16, 2018
HTML EMBED:
COPY

General Electric CEO John Flannery said in an earnings call today that he was “deeply disappointed” in big liabilities found over on the company’s insurance side. GE actually sold off this business – insurance for long-term care – years ago. But turns out it’s still liable for billions of dollars’ worth of policies.

Click the audio player above to hear the full story. 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.