https://www.ctpost.com/news/article/Storied-General-Electric-to-split-into-3-public-16604813.php
18 replies (most recent on top)
And DJ Will be the new king.
3 Companys
The Good, the Bad and the ugly!
Aviation has the best chance of surviving. Power has the best chance of being the first to die. Change my mind.
Major job cuts and no pension Good thing the T’s don’t have a pension
All empires fail look at our union it’s a failure now ge power will fail
Do I have this right: 1). GE Digital should shrink considerably as it gets moved into its new home 2). Healthcare already runs lean and it might need to hire some to internally provide whatever services it will no longer review from GE 3). Aviation (new GE) might need to eliminate some redundancy from what it will inherit from old GE, since it has a lot of that on its own now 4). The Energy business combo thing will have redundancies for some positions from people coming in from the various pieces, but will need to create some other positions to cover functions it will no longer receive from the GE mothership.
Mark my words! I don't hold out much hope for any of the 3 business surviving as is however the new Power/Renewables/Digital monster will be the least likely to survive as Culp still playing a role at Healthcare and Aviation it is a guarantee that Power Inc. will be saddled with the most financial obligations.
related to Pension. PBGC does not provide any guarantee once the pension obligation is sold to an insurer.
Be interesting to see how long it will be before the For Sale sign goes up at R&D!!
So long pension, so long Power
"Any jacka$$ can kick a barn down, but it takes a carpenter to build it." - Sam Rayburn
A true desperation move.
Hard to envision any of the companies surviving for even 5 years
I just wish GE would offer pension buyouts again. Give me my money so I can invest it on my own. Hopefully at next contract time.
@gtx+1dJiJ2yX as long as you have already started drawing your pension, it's fully protected by the PBGC. If not, then it's partially protected by the PBGC. Those farthest from retirement have the least pension protection.
GE will likely sell the obligations to some other party, but they will continue to pay unless or until they can't, then the PBGC takes over
I find this hilarious because years ago my uncle and I called it. We thought that splitting up GE was the best case scenario and that's only because that would be the only possible way to extend GE's existence the longest. By doing this, Power will no longer be able to pull from Aviation when times get tough and Aviation can't do the same either. That's the game GE played for years when there was much more to it than there is now. The down side is that GE will be much weaker to it's competition and easier to ki-l off. My money is on Power being the next one to fall. Good luck! I'm so glad to have GE behind me!!
What happens to our pensions? I worked for HQ
Wondering what happens to the pension plan for those of us not yet retired. Hoping it isn't sold off to a financial/ insurance company. I turned down their buyout offer a few years ago and would like to keep it.
Start looking for a job.