What are the best ideas to make GE strong again?
If you were the CEO, what would you do?
26 replies (most recent on top)
Fire up the PR machine. Talk utter pish and convince people your stuff is high tech. It worked for near on 100 years.
Jardel life.
Expand the BH specialty polymers chemical business and get everyone distracted into areas such as adhesives, personal care, coatings, plastics, paper, inks, etc.
https://features.propublica.org/ibm/ibm-age-discrimination-american-workers/
About IBM but sounds familiar.
I can think of firing a couple of executives in Milan ...
Liquidate all assets and buy Amazon shares.
Get rid of that useless management at baker stoneywood Aberdeen. Unbelievable incompetence in huge loss of work and revenue.
Get into the missile and bomb business while Trump is president. Get the government to give GE a mega huge contract for defense work. Look at the $$ that's been flowing to Boeing. Too Bad IM didn't care for Trump, should have been working for some of that drunken sailor $$. Is it too late? Sell almost everything else to raise cash, except maybe keep some of GE engines. Windmills will not turn GE around.
Get rid of toxic management, they actually lead company to crash, not employees. Reduce HR Department by 50 percent as they are not professionals at all, just waisting resources an time pretending to be of value with so called Performance touch points crap. Concentrate on Customers and product quality. GGO structure has to be eliminated as well.
Sell Digital for $400.
Aye!
Need to rid oorselves of all this hopeless GE garbage and concentrate on oor core business and intellectual capital at the Bridge of Don
Fire all leadership team from executive band up. Identify people who worked as individual contributors to build experience and knowledge of our products, processes, and customers. Select best candidates to lead and let them fill their teams with people who believe details matter. Fire all the other dead weight.
Bring back Jack W. and Susie could be the company PR VP. Hire Nardelli back so he could polish his knob like he used to. Repurchase GE appliance business so all the GE executive wives can beoch about the piss poor reliability of the POS equipment. As you all know they were required to have GE appliances in all their executive houses. Bring back GE Capital so they can invest in sub-prime loans, and get back in the credit card issuing business.
Seriously, bring back Bob Nardelli on a temporary basis to fix the mess. He is willing and available per the CNBC interview last week. JF is too slow and investors have little confidence on him if any.
Undo the Alstom debacle. Undo the BH debacle. Focus on renewables (and innovation therein) while scaling Gas Power to a reasonable size. Sure up the pension fund and freeze pension accrual, up the 401k match to partially offset the loss for those employees. Cut EB salary across the board by 25%-50% and replace with metric based bonuses.
Sell an engine for a loss. When the quarter is too close to call, "re-negotiate" a maintenance contract and pull all the revenue forward. If the quarter is REALLY too close to call, I'll just IBS some Monopoly money to the GE Capital black hole to offset all the Monopoly money that Global Ops charges me for their sweatshop.
Aye
Get rid of the ootsiders and model the company on the Bridge of Don. Oor ways are legend.
Why don't you start with folks that all work part time with the new honor's system vacation scheme.
Maybe it would work if folks had a sense of responsibility.
All the new hires I work with take an average of 16 to 20 weeks vacation a year. When they are here all they do is snapchat. I guess the vacation time is pretty irrelevant in the end.
Build a couple of power plants that no one ordered and take revenue for them.
Continue to believe that if you build them...they will come.
Second option: fill up the books and take revenue from "imaginary" plants. Imagination at work.
Compensate myself over $9 Million while ending careers of as many people as I can.
I would buy an obsolete European manufacturing facility, buyback company stock at a high price, take a spare jet everywhere I go, let the pension go unfunded, not take "no" for an answer, make dumbfounded decisions my "modus operandi", and stay in power until the board forces me into retirement. Then I would live lavishly on my hundreds of millions of dollars in retirement pay. Of course my top executives would be well paid by cutting benefits for the salary and hourly workers.
Get rid of Alstom and sell GE Power to Siemens or Mitsubishi. It will never make more money than it could be sold for now.
Build a wall and make Siemens pay for it
Get rid of that bunch of losers they call baker Hughes and shore up the pension deficit.