Pall derives nearly 40% of its sales from Europe which may cause trepidation among some investors, but sales from Europe were only slightly less impressive than the rest of their operations.
But they may not raise as much money as they had hoped, if only because the operations they want to float have become a lot less valuable than they were.
GE, it turns out, the Genworth operationswere making a return on equity of only 9%, half what good companies manage and less than the 12% earned by the typical life insurer.