I was personally impressed by Larry today. He appears to be embrace being a nerd. Humor. Candid. Doesn’t like the royalty c-ap. Why would a guy agree to do this if he thought he would fail? Wants to walk to work. Going back to fundamentals. Kudos to you Larry. Godspeed.
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"I’m not the problem. I’m barely keeping the lights on in my area and if what I do stops we completely fail." I just want to take a moment and thank you for your service. Since you are single handedly keeping the place from failing that must be a huge load on your shoulders.
I thought I heard somewhere it was a unanimous board vote. We never get the whole story.
Time will tell but I generally continue to hate working here. It’s a shell of what it once was.... and those who say get a new job. FU. Fix the management of the company. I’m not the problem. I’m barely keeping the lights on in my area and if what I do stops we completely fail.
We need willy ruse and fast talkin drumgoone gone though for real change in IT.
He didn’t address the elephant in the room- why did they have to fire ceo who had the same plan and a year and 30 year head start? How is his Plan or ability better than others?
Beginning next year, GE will annually give Culp a salary of $2.5 million, a bonus of about $3.75 million and equity awards valued at $15 million for just showing up. Then performance incentives which could add up to $300 million after four years if the stock goes up to $29 -$30. If someone handed you a winning lottery ticket, wouldn't you take it too? I think he will do his best, but he doesn't have anything to lose.
If aviation continues doing well and power continues doing poorly - yes. I’m interested in seeing what they do with the pension liabilities. Fix it or kick down road like patty melt did.
Can the clarity that Larry provided on that call around his continuing down the path of fully separating Healthcare be logically extended to splitting up GE all the way over the next few years (providing the debt load and other thorny problems can be sorted out)?
In other words, would investors rather see Aviation split apart from Power and Renewables?
Why would a guy agree to do this if he thought he would fail?
He has nothing to lose. He was probably sitting on his a-- and accepted a job that has some blood on it. If seasoned and tenured folks had challenges then not sure how a new guy will turn around things. Atleast for him, emotions wont cloud his actions or judgement when it comes to making the org lean-as he probably doesnt care much and has his sights on the stock price.
+1 and agree. A refreshing leadership tone!