Ed Garden, Chief Investment Officer and a Founding Partner of Trian Fund Management, L.P., has been elected to the GE Board effective October 9, 2017. Let's see if the rest of Jeff's good ole boy network are getting the boot as well. There are plenty of cuts to be made at the top. Take an Uber like rest of us, GE executives!
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Trian group will dismantle GE and sell the pieces. That is whatever is left that Immelt didn't already sell to pay for restructuring (i.e. Layoffs). I laugh when they say digital will be their next big money maker. Fat chance in hell that turd will float.
Be careful what you wish for. Trian is known for breaking up companies and large layoffs. You may have not liked Jeff and his cronies but they protected lots of peoples jobs at all levels. Flannerty is more likely to make massive layoffs to cement his power and career at GE. We as a group will not have to wait long because we will know for sure very soon.
Why worry about the board?
They got their golden parachute.
Focus on how you can take your skill elsewhere if needed.
Honeywell Rolls Pratt Pharma Boeing Airbus
Space X Tesla
Retirement planning:
Don't have dividends going back into Ge stock.
Ge stock purchase entry price is near the $10 level.
Sell Ge stock, take the loss and reinvest elsewhere.
The vultures will soon be circling the dead carcass that was once GE. Let the dismemberment begin.
The problem with GE has been leadership by bean counters, finance guru’s, and others not relevant to the key business metrics. It can’t get any worse than having Trian running the show. Only good news is for short term stock gains. After the initial financial rape, the end will be near for GE. And you can put that in your pipe and smoke it!
Train will split the businesses, the GE of the past is no more! Just another JOB; not a career!
While I agree the board has needed more outside members, TRIAN's focus is the stock price and not necessarily the long term health of the businesses. Their plan includes aggressive cost cutting (needed), ~20B + more leverage (debt) to fund more stock buy back and forming JV's to unload some businesses (Oil & Gas strategy). There is merit to much of there plan but none of it really gets you to a path to long term growth of much of anything other than "near" term stock prices. Go read their summary for yourself: https://trianpartners.com/white-papers/
Share price dive, dive, dive.
About time GE's buddy network is destroyed !!!!
Amen!