SCHENECTADY GE’s woes felt by stock owners Dividend cut squeezes some BY SARA FOSS Gazette Reporter
Mel Marcino understands why General Electric Co. decided to cut its quarterly dividend by twothirds. “I think they had to do it,” said Marcino, who worked at GE as a machine tool operator from 1973 to 1987, and now owns thousands of shares in the company. “The economy has taken a much bigger hit than anyone suspected. It’s probably not a bad idea to cut the dividend back.” He said he doesn’t have as much to worry about as other GE shareholders, particularly older retirees, who use their dividend payments to cover expenses. “I’m not retired yet,” said Marcino, president of Empire Cleaning in Saratoga Springs. “I don’t feel the impact severely at this point.” Earlier this month, GE announced that it would cut its dividend. The move came as a surprise to shareholders, because initially the company said it would maintain the dividend. Helen Quirini, a longtime labor activist who ...............http://www.dailygazette.net/De.....amp;EntityId=Ar01102
I'm actually surprised about the part of the story about that Helen Quirini. She worked long enough to retire, but only bought 100 shares of GE stock?
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
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