I've been pretty adamant about being bullish on General Electric (NYSE:GE) in the past few weeks as I have seen things that make me think a bottom is near. Sentiment is a big one, but I also see meaningful progress from the company's new CEO, who appears to be taking his job much more seriously than his predecessor did. On Thursday, we received word that GE Power was conducting layoffs of 12k people at various spots around the globe as GE tries to right-size its Power business. While nobody likes to see people lose their jobs, this is a necessary evil for GE to move forward. Indeed, I think this is a huge step in the right direction not only because it sends the right message but it has the potential for tangible financial results as well.
