Hostages to fortune
Observer April 13th, 2008
…recent weeks, some misses in terms of expectation management. First BA, with big pre-launch hype over T5, setting travellers up for unprecedented disappointment and tugging of forelocks as the rollout turned into a brouhaha of an all together different scope. Then Jeff Immelt of all people, no doubt in good faith, proclaiming on a Saturday Night Live as early as December 2007 that a 10 per cent growth in earnings was “in the bag” for 2008. On the latter Friday, a collective ‘Oh sugar’, as with the first quarter outcome, big dismay at the impact of financial market unravellings causing results below guidance and a course correction for the rest of the year. Testing times for predictions. But on the resilience of the respective reputations most pundits will likely bet on GE.
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