Larry we’ve been listening to you during your first few weeks apologize about how complex company GE is and we have to give you time to figure it all out. Meanwhile it seems like you’ve been very culpable in learned very quick how hand out executive... — read more
GE Power - you guys tried your best against lack of sales
The engineers at GE Power know their stuff, they engineered good engines. The PDE designers are amazing modelers. What it comes down to is lack of sales, simple as that. Maybe it'll turn around, but not for another few years. In the meantime, does... — read more
The Problem with GE
The problem with GE is that they hire college graduates, and put them in positions where they don't stay long enough to make any real change. Take a look at most of your PQEs and Obsoletors in your area. Most are in that position for only 2 years or... — read more
Larry Culp - Why not do what Alex Cora Did?
Larry, You say you are a big Red Sox fan and love the way Alex Cora ran this year's championship team and are using him for inspiration for the GE Team. I love that Larry!!! Well then why don't you do what Alex Cora did and lead by example? Take a... — read more
More of the Same ?
This is yet again another example of what is wrong with GE and its Corporate Country Club Culture for executives! Go check your pension, is it worth >10X of your yearly salary? This is why the Supplemental Pension Plan (SPP) should be eliminated... — read more
200-300 more layoffs on the way in Schenectady
https://www.timesunion.com/business/article/Bright-spots-tight-spots-in-latest-report-from-GE-13360412.php The union knows it and won’t tell you.
All Manufacturing will be put in Alstom manufacturing plants
Good Bye GE Power in the states
GE Power is about to have a Power Outage
Mas plant closings and mas layoffs are about to begin again. The next wave I will be on the street
The new GE in schenectady
This Place is a zoo the union is broken, and the new managers in charge are running it backwards. New job codes screwed the d rates and destroyed this place
The death of great American legend and the pain of those who remember it alive and well
https://www.linkedin.com/pulse/reflecting-ge-i-knew-dennis-murphy/
GE Power is choking off cash flow for the whole company
GE raised lot of short term cash using it's commercial paper offers. Lower rates than bonds or bank credit. 3-5% difference in weighted average capital costs. With ratings down, commercial paper dries up (no takers at lower rates). Cost of borrowing... — read more
Isnt this the real problem with these big companies?
Being a shareholder, I am suffering huge time when these big wigs legally rob the company.. How do you rewrite what these CEO's should receive when they are part of the problem, especially when the company is mismanaged by them. Look at IMMELT and... — read more
Aviation business in the chopping block
Our CFO confirmed at the earnings call that some aviation business are in line to be sold: Justin Laurence Bergner - Gabelli Funds LLC Are there other plans on the asset sale side within Industrial? There have been some sort of news reports about... — read more
What are the chances of surviving PIP?
I got on a bad side of a wrong person who knows the right people and surprise, surprise I got put on PIP despite always having good track record. Now I'm wondering if I should just pack up and leave immediately on my own, or if I should try and fight... — read more
A lot of changes will be made at GE
Read a lot of articles on the subject of what needs to be done to keep GE afloat, but this one was pretty insightful. I especially liked how it pointed out that the new leadership succeeded in identifying the basic problems of the company very... — read more
Any word of Raghu? He has been silent
He was Flannery's pick for HR lead. Talked about culture change. Has done nothing. Anyone heard from him recently as the company is in disarray?
Hey Jamie, cutting the dividend is not cash generation it is cash reallocation
Time to move on from this "CFO". Cash generation comes from better sales at higher margins. It does not come from reallocation of cash and continued games
The nightmare scenario has become a reality
It seems that GE can’t catch a break even in these dark times. This article summarizes all adverse events that hit GE recently. The only good thing that I can extract from all of this is that it seems to me that the leadership is a bit closer to... — read more
It’s important to get familiar with the rules of your pension plan
I worked at GE a long time ago for 8 years. I got a lump sum offer letter in the mail last year out of the blue. I took the check. Took 3 months to get it. I have worked at Honeywell for 21 years more recently. There are about 10 different pension... — read more
Aviation Supply Chain Opportunities for Power Employees
This morning's notice from Power's VP of Supply Chain that Aviation is looking for Supply Chain employees and that Power employees should immediately consider applying is clearly an indication of how deep the next rounds of cuts will be going for... — read more
Trian board seat should go
https://www.scribd.com/document/346261119/TRIAN-WHITE-PAPER-GE-pdf Just like two CEOs were fired, bad board members must go. Accountability has to start from the top. We are here today because Trian forced Immelt to take on more debt. He was stupid... — read more
GE Downgraded Two Nothces. Cannot Access Commercial Lending
In a nutshell, GE's credit rating is now too low for big financial institutions to invest in, as they all adhere to a certain level of credit rating which they will not go below. This is nothing short of a disaster for GE, which now has to... — read more
The downsizing in Ge Digital
China has been downsized already - no more commercial leader, no more engineers/datascientist. Europe has already been reduced a lot (commercial leader wont last, and what's left is a just a small commercial team) and will reduced further as soon as... — read more
SEC and DOJ are widening their investigations on accounting practices at GE
I know that we had years of untransparent accounting and that once SEC got inside our system they were bound to find something that would “ get their attention”. So, these expansions of the investigation don’t come as u big surprise, but I can’t help... — read more
Split up of GE Power - what is next?
From RBC's Deane Dray - $15 price target In new-CEO Larry Culp's debut earnings, GE is taking the as-expected step of paring down its annual dividend from 48c to 4c, which would save roughly $3.9 billion of cash annually. We expect this action to be... — read more
GE's new CEO said timing of GE Healthcare spinoff could change; spokeswoman says it's still on track
https://www.bizjournals.com/milwaukee/news/2018/10/30/ge-healthcare-spinoff-might-now-take-several-years.html So which is it?
Stock drop
Ha.Ha.Ha. https://www.cnbc.com/2018/10/30/ge-shares-hit-9-year-low-as-wall-street-says-cut-may-not-be-enough.html
Single Digit Stock Price
"Some men aren't looking for anything logical, like money. They can't be bought, bullied, reasoned, or negotiated with. Some men just want to watch the world burn"
Dividends are a penny and Power is going be split
Massive cuts and layoffs in the works for Power. The layoffs are far from over so keep drinking the Union Koolaid that the layoffs are over. Far from over! I should of volunteered for the layoff but I am sure the next layoff will hit my seniority... — read more
General Electric’s algorithm remains the same.
Layoff after Layoff + Reorg after Reorg + Split up Divisions + Sell Assets + Blame everybody else + Fake Accounting + Corporate politics + Dumb buzz words = General Electric Same stuff, different day.
Culp needs to get his sports analogies correct
Red Sox won the division last year with 93 wins that is pretty good by any measure and in no ways a good comparison to what GE did in 2017
SEC Expanding Investigation & Now DOJ is Involved.
https://www.cnbc.com/2018/10/30/ge-says-sec-expanding-scope-of-ongoing-accounting-investigation-shares-fall.html SEC investigation is not necessarily surprising however the DOJ's involvement should make you sit up and pay attention.
Meanwhile @Salem Plant
Another great day of training my india replacement. Thank you ge for taking my dignity as you close my plant and hold me hostage with my benefits. How people respect and hold this company in such high regard is beyond my comprehension. Good luck and... — read more
GE 3Q earnings today
New CEO putting his mark. Layoffs? Dividend cut? New strategy? What’s the verdict?
Dividend Reduction
GE cuts dividend from 12 cents/share to 1cent/share. Stock is up in pre-market.
2nd Delay on Earnings Call
Anyone hearing the call is again pushed back? If true, it must be a horrific report.
End the misery already in Schenectady
Please Schenectady Management End the misery and lay the Tempary Rates off and next contract hire F for (Falure) Rates to save GE at $12 an hour. See the quality go down the toilet the. I’m at the bottom the seniority list and I know more layoffs are... — read more
Alstom brought very little value and many liabilities to GE
Let’s all be realistic. Alstom brought slightly cheaper, similar performing steam turbine tech to GE. They brought some steam services opportunities with their historical base. But they brought zero sellable GT tech, and with all of this cAme a 2x... — read more
When it rains, it pours...
First fatal crash of 737 MAX-8 with LEAP-1B engines... a brand new one just delivered in August, too: https://www.cnbc.com/2018/10/29/indonesia-says-lion-air-flight-from-jakarta-to-sumatra-crashed.html... — read more
Salary ranges per band
Does anyone know the salary ranges per band in GE Power? (PB, LPB, SPB)