Trian disclosed their position in GE was worth $6.94 billion on 31 March 2020, when the stock closed at $7.91, Last closing price is $5.50, which would make the same number of Trian shares worth around $4.8 billion. Doesn't that make Trian GE's largest shareholder today, up from their 1-2% initial stake back in 2015?
Is Trian about to get recover their losses from prior years riding GE down? I wish I knew.
Power’s plan was some significant movements in the next year and they’ve been accelerated, including at least a handful in my team notified on Thursday that hasn’t been officially announced. At least. SS mentioned the reduction to 12K in the next year and our manager warned us right after the all-hands there were actions in place he expected to see sooner than later. We’re at sooner.
Look folks, Power has been looking to cut costs while delivering on the backlog of work for the last 2 years. Look at the recent partnerships in the controls (Quest) and procurement (Genpact) divisions. It's only a matter of time before Power is fully outsourced (60-70%) to a low cost country or 3rd party partner. Don't think for a minute your job is safe during this global crisis.
"I think Larry Culp is a star. I think he knows how to run a business. I think he knows how to deal with these issues," Peltz said. An interview last year on CNBC Discovering Alpha.
"Larry is fantastic. He's putting together a great management team. He's got a stupendous board," Peltz added.
"We make a mistake about once every 25 years. So you guys can relax, for another 22 years everything's going to be cool," Peltz said.
R-E-L-A-X.
From my brief interactions with the management team. I can clearly see that their demeanor is off like they know something is going to happen. Like a workforce reduction but they are told to say everything is fine. Layoffs are definitely in the works for healthcare and power. After the aviation unit cuts 13,000 people next will be power. The power unit has been for a long time a drag on the company portfolio. From the writing on the wall and the signs of the times we are in. This will be pushing the company’s 10 year plan with power closer together. It would not surprise me to see some main plants shut down to save the stock and ship the remaining little bit of work to Poland or somewhere. The lower pay grade workers are under skilled, cry all the time and lazy. The legacy grade paid workers are skilled but over paid for these trying times.
Yeah, https://www.sec.gov/Archives/edgar/data/1345471/000134547120000027/xslForm13F_X01/infochart03312020.xml shows those Trian p–p waffles where at $510 million for 64,236,784 shares. If they hold the same number of shares, that ended Friday at $ 353 million
The $6.94B was Trian's entire portfolio, not just GE.