This thing is going downhill. Anyone who believes there is a "comeback" is delusional. This business can be profitable, but not at the levels GE needs it to be. The future is innovating in Aviation, Healthcare, and Renewables. I am not trying to be an a–hole. If anyone disagrees with me, please explain why you think GE power can make the "comeback".
14 replies (most recent on top)
First off, fossil fuel usage is actually going to increase until 2030 for two reasons. Dismantling nuclear power plants (cleanest energy to date). And battery manufacturing and power storage for renewables, strip mining for battery storage materials is nasty and is one of the dirtiest industries on earth.
Now for the $$$$ talk. LNG is selling higher than crude today. LNG is way more cheaper than crude, meaning companies are making more $$$ with LNG. That’s great news for GE Power, it makes your products worth more. And here’s the biggest reason, environmental politics is causing utility prices to surge for home owners in UK and Europe. LNG has been helping bring UK off of coal energy for decades. UK might need to keep some coal power plants open now.
The big players are betting on LNG. Just research LNG expansions and you will find $billions of investment being approved globally.
Now I want you all to go back to work tomorrow and remember what you told your bosses why you should get that job, then actually do what you said and deliver on that promise.
Fossil gas turbines are history. Fossil companies like GE are whistling past the graveyard.
And GE couldn't get its Renewables game together to save its life. It's a lousy time to have a 401k full of GE stock.
Employees can't work when machines are frequently down or being worked on because of the lack of maintenance in that dump. The turbo form was suppose to save that place but has been and continues to be a headache.
Power will turn around if ALL the 273 employees did more than push brooms and wine about nothing all the time. Especially those unskilled t rates if it wasn’t for d rates t rates would not be here.
Don't spin off power, thats short sighted. Hold power because its very smart long term 😊
Correct; Ge carrying any fossil fuel heavy business in 5 years will result it a major stock sell-off as an anti-ESG and GE will be a penny stock. Almost no aero-derivatives get sold, so you basically milking the HA Class. Legacy fleet install base will continue to shrink and new Solar technologies will easily lower costs below Wind and Gas. Not to mention decentralized Grid.
Power is doing fine I’m still getting a lot of Ot in Schenectady. This place is so mid managed by unqualified leaders it is funny. Not to many have a clue on the managements side. Keep the cash coming.
It's all Steve Bolze's fault.
Renewable’s maybe the future, but GE renewables is struggling to put up a unit that is profitable. Driven by competition and their significant quality issues. Offshore may have a shot, but it’s very risky.
pyc+19i93Yby - Your trying to minimize the fact that your going to be out of a job soon you t rate slag. Back to your old job making my coffee.
What about GE Nuclear? They are doing any better either. No new plant sold in over 35 years.
273 will be converted to making solar panels and u rate. New job classification coming the u rate. Called unemployment rates it’s in the new updated CA agreement. 273 will employee 150-200 employees to run the bar shop.
Mr. Culpable had said in the earning call he will look at portfolio change after businesses get their acts together in 2021. It’s not a question of should or would, just when. Why do you think we need to re-verify dependents? You only need that when you go to a new company.
Siemens just spun off their energy last year and Aviation is still hurting so spinning off Power right now is not favorable for the RemainCo nor the NewCo. When there’s enough investor interest it’s when the time to sell/spin off. It will come.
The present administration is bent on "green energy" as well as Europe. Unless there is a resurgence of gas turbine power generated electricity in other world markets, I see lackluster profits for Power in the near future. Renewables are no panacea either. High costs are a major problem with wind and solar power. The lower capacity factors mean that the cost of generating power is vastly higher for renewables than it is for conventional electricity. Wind flows and sunlight are intermittent. A renewables system requires the use of massive amounts of land. Wind turbines use heavy metals as neodymium and dysprosium for the magnets. Toxic and expensive to mine.
No I wouldn't release Power just yet. Gas Turbines are still in the mix.