IF GE’S STOCK price was a measure of investor perception, it was heading in the wrong direction. They were deep into the worst valuation of Jeff Immelt’s time at the top. On Immelt’s first day in 2001, the shares were around $38. When he was dining in Beverly Hills in September 2008, the stock was at $25. Shares opened 2009 at around $15 and closed the month of January at $12.
