Thread regarding General Electric Co. layoffs

I read an interesting news story a week or so ago about a company where people tried to bait each other all day long. When they were fired they blamed everyone but themselves.

I remember GE sending an email to stop wasting money by unplugging our laptops. Consumed too much power. Yet, two jet was flying around with two private jets making $4,000 per minute salary. Here’s your sign.

Money is flushed down the toilet all the time. A few years back our facility had to eliminate waste and improve efficiency in the tens of millions to cut costs. The "cost saving" projects were mostly nonsense, inflated, and, in some cases, more troublesome than beneficial. The savings were presented, looked at by upper management, and submitted. Obviously no one in a position of authority knew what they were looking at or they would have fired a few of us. Very little took hold. Our costs are higher than ever now. Well, I guess we'll get another memo to "cut costs". Better rehash some old "projects".

GE leadership philosophy is that any leader can run any business. This of course is not true. So someone clever enough can bamboozle a GE executive type pretty easy, since the only thing they care about is how things look. Remember some years ago under Welch some guy got away with several million dollars in the GE Capital business.

Today, General Electric (GE) announced the sale of GE Capital’s PK AirFinance to Apollo Global Management (APO) and Athene Holding (ATH). While General Electric hasn’t disclosed the deal’s financial details, it noted that $3.6 billion of PK AirFinance’s receivables that were held for sale were sold at a premium to book value. As a part of the transaction, Apollo Global Management would receive PK AirFinance’s aircraft lending platform while Athene Holding would receive its existing portfolio.