How can anyone say such a thing. I'll grant that GE stock may be a bit overpriced, but to say that the company is only going to grow along with GDP is simply not true. GE has been big for years. People have always criticized big companies. Hell, they have been saying for years that Warren Buffett and Berkshire Hathaway couldn't keep generating such good returns because of their size, yet they do.
GE has several things going for it. First of all is GE finance, which provides the AAA credit rating, the financial health, and still has plenty of room to grow. Secondly is their leadership team. When Jack Welch was there he started a great leadership training program, and really focused on promoting the best and brightest, which I believe Jeff Immelt has kept going. Thirdly, they are innovative. Just check out the GE website for some of the latest breakthroughs. I hate to disagree with Lahart, especially since he gets paid to write this stuff and I pay out of my own pocket to do the same thing, but I think GE has some spark left.