Jeff Sprague, founder of Vertical Research Partners, predicts upwards of ten percent of General Electric staff will be out the door in the next 36 months. Prior to that, Seth Masters, the former CIO of AB Bernstein, says the changes at GE symbolically highlight the passing of the baton from the U.S. being defined as a great manufacturer to the industry contributing to a smaller portion of GDP. Jared Bernstein, a senior fellow at the Center on Budget and Policy Administration, says the $1.5 trillion loss from the tax bill makes the GOP look like fiscal chicken hawks. Finally, Ed Hammond, a senior deals reporter at Bloomberg News, says Qualcomm rejecting Broadcom is the least surprising news of the day.
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Bloomberg Surveillance