GE to Hold Investor Conference Call
General Electric Co., seeking to address concerns that it fails to provide enough details on its finances, said it would hold an investor conference call the week of April 8 to discuss first-quarter results.
Until now, GE has been among a relative handful of major companies that have declined to use conference calls to discuss earnings.
GE’s stock has been hammered in recent days after Bill Gross of bond fund giant Pacific Investment Management Co. criticized the company for its debt levels and disclosure practices.
In recent months, GE has spread information more widely than before, starting with broadcasting analyst meetings on its Web site. Still, in the aftermath of the financial collapse of Enron Corp., many analysts and investors have been pressuring companies to disclose even more and to allow for direct questioning of executives when data are reported.
GE shares fell 83 cents to $37.04 on the New York Stock Exchange.
Rukeyser Gets Booted
Louis Rukeyser’s long run as host of public TV’s “Wall Street Week” apparently has come to an end. He was fired by Maryland Public Television after blasting the producers on Friday’s broadcast.
The 69-year-old host was incensed last week after the producers asked him to agree to a lesser role on the show, which Maryland Public Television wants to revamp to attract a younger audience.
Rukeyser, the host for 32 years, said Thursday that he would leave when his contract ends in June and that he was entertaining offers for new shows. On Friday, he told viewers he was “ambushed” by his producers.
“We were disappointed he chose to use Friday’s show to air his contract dispute and promote his new venture,” said Jeff Hankin, an officer at Maryland Public Television.
The producers said “Wall Street Week” will go on, though the revamped show--to be co-produced with Fortune magazine--won’t make its debut until later this year.
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