scbriml wrote:strfyr51 wrote:one factor will be prominent, Just how fuel efficient will the Rolls Royce engines Be as compared to the GE engines on the 777-8 and -9??
Has Rolls overcome their troubles?
You say this as though GE doesn't have problems of their own.
Yes, like an alleged $38bn accounting fraud https://economictimes.indiatimes.com/ne ... 712245.cms The guy who wrote the report is the same guy who was first onto Enron and Bernie Madoff fraud scams so grab some popcorn.
"In fact, GE's $38 billion in accounting fraud amounts to over 40 per cent of GE's market capitalisation, making it far more serious than either the Enron or WorldCom accounting frauds," said the report.
GE denied the charge saying the 175-page report contained false statements.
To investigate GE's fraud [sic] Markopolos team went out and located the eight largest Long-Term Care (LTC) insurance deals that GE is a counterparty to, accounting for approximately 95 per cent or more of GE's exposure.
Either these eight insurance companies filed false statutory financial statements with their regulators or GE's financial statements are false, alleged the report.
The investigator said he got access to these eight insurers' statutory financial statements filed with the relevant state insurance commissions.
"What they revealed was that GE was hiding massive loss ratios, the highest-ever seen in the LTC insurance industry, along with exponentially increasing dollar losses being absorbed by GE," said the report.