Noticed that GE Digital no longer listed as a separate business unit in the earnings report. Goodbye Digital! See ya Bill!!
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This pretty much sums it up:
GE: 6 Lessons From Someone Who Got It All Wrong
https://www.barrons.com/articles/ge-six-lessons-from-a-bad-bullish-call-1525788555
Fake news? True news?
In 2017 reports they talked up Digital in new customers and predix users in earnings report. Not a word this time around. Plus the talk of another pivot from Ruh.
All leads to believe there is a big reorg coming to GED where they get split between the 3 big businesses. Meridium and servicemax nay get sold off or spun out.
Ruh is done. Might become strategic advisor to CEO while he looks for another job. Or he will leave to spend more time with his family.
Decentralized model is what Flannwey prefers. He will undo Immelts empire in Boston and go back to conglomerate model of governance.
As a shareholder, I hope they find a buyer for power business as well. Lot of fixed costs and union shops in a declining market. Once they free up from debt they can go after acquisitions again in new spaces.
I am pretty sure they will be trying to shut down the San Ramon facility soon, but I am not sure they are going to do away with the software vision entirely. Digital failed due to poor management, fat management layer with zero accountability. People moved around to get promoted to manager, senior manager, director and VP positions willy nilly. Now they have moved on to other companies and are cashing in on the GE Brand name. People outside, have no idea that these managers, Product owners, directors and VP's didn't deliver even 1 successful product in their 4-5 years tenure in GE Digital. I am amazed at how these things work in the real world. We are always told that there will be meritocracy but all that I have seen is politics ridden culture.
It is mentioned in the NY Times article that Bill Ruh (mastermind behind this insane swindling of an operation) is calling this a pivot. Reminds me of this episode in Friends.
https://www.youtube.com/watch?v=Tam7KO4qhUI
https://www.nytimes.com/2018/04/19/business/ge-digital-ambitions.html
Saw this
It never was listed as a separate business unit....