The once behemoth of industrialization is splitting itself up into 3 distinct companies being :

Aviation
Healthcare
Energy

Effects should all be in place by 2024. Estimated costs to make the changes is 2 billion$.

CNN Business, Market Watch, WSJ

I've been a fan of GE sing the day of the General Electric Theater, hosted by Ronald Reagon.

"Progress is our most important product."

They fell by the wayside though, Wabi.

They’re selling their iconic light bulb business as well as their appliances business to the Chinese, along with several others at fire sale prices amounting to 20% of actual worth according to the articles.

GE hasn't made a lightbulb in 2 years.

GE - no more bulbs.

Just bought some LED flood lights from Walmart. 2 Packs Of 4 bulbs each.

Must have been leftovers but quite a few on the shelves of various types and sizes.

GE hasn't been worth a damn in the last 20 some ought years.

What about their locomotive manufacturing?
Any ideas? They build most of the road locomotives.

The train business was split off several years ago is now part of Wabtec.

It's like they are creating sock puppets.

Perhaps just reinventing themselves Paul. You know, like trying to distance themselves from some of the things that have happened in the past.

Jack Welch was a hard act to follow but Immelt drove it into the dirt.

The financial unwinding of 2008 pretty much put the nails in the coffins of GE Capital.

Fu ck GE, they suck down government funding and pay zero in taxes.

But they are big on political campaign contributions.

Not even a question that this reorganization will allow for MORE government funding and even MORE tax breaks.

I see what you did there

Their focus on the energy sector was less than revealing probably meaning green energy, Batteries production, etc.

Maybe become as relevant as Bell and Howell tactical sunglasses and cheap security lights.

Getting kicked out of the DOW 30 and followed by a 8/1 reverse split says about as much.

#🚂Toot!Toot!

Cockfight …

LOL

It happens. They got the Fanuc out in 2009.

They absolutely ruined Baker Hughes.

If I remember correctly that merger was supposed to make them the world’s second largest oilfield service provider by revenue.

Took GE about 3 years or so to finally divest from BHs.

When I worked for GE's steam and gas side (turbine welder), they had plans to split and sell their healthcare side. Then Covid hit, and the sale stopped.

I put in a lot of time on GE Frame 3, Frame 5 Mark 1 and Mark 2, Frame 7 and the biggest of them the F9-A, most all of them dual fuel units.

Remarkable machines they are

#FistCamp

GT 11N1s, NM, GT8, GT24, Cumberland, Redhawk rewind for the generator, impulse wheel removal and new installation, all kinds of steam and gas stuff. Good pay, too many hours at the shop, not enough time to shoot.

I did 8 years at GE Transportation in Erie.
At the end of WWII the plant employed 22000 people.
In 1977 there was 13000.
In 1986 there was 6500.
In 2016 they cut there workforce from 3000 to 1500.
And that ended it for me.
Went out the door as a inspector.
Got recalled just before Westinghouse took over.
Didn't go back.
The plant is like a city inside a city.
Surprised they even keep the lights on with that small of a workforce.
All domestic locomotives are now built in Texas.
All Erie does is prototype, transit and export locomotives.
Everyone I know that's still there hates Westinghouse more than the GE.

Dave

If you saw there management in action you'd understand why.

Dave

You can find your way around them in dark, I’m thinking!

Six Sigma.

Not a bad processing system within itself.

Like Sir John Brown Of BP, Jack Welch spun the aircraft carrier on a dime only to then watch the wheels come off of both entities.

You’re talking about the merger between Halliburton and Baker. They were the number two, and three oilfield service companies for size. And the merger of them still would not have been as large as the biggest service company, Schlumberger.

I’m talking about the merger with Baker Hughes.

Halliburton and BJ Hughes merger was scrapped due to various goverments objections and I think that it costs Halliburton over 3 billion $ as a payout to BJ Hughes to unwind that proposed deal.

I think that’s right.

^^^

Yep. I worked for SLB in upper management at the time. Everyone was [bleep] bricks.

When the HAL/BH deal fell through, GE announced it was going to buy BH less than a week later.

After Jack left those in charge went for the fast payday and sold off most of the parts that were making the whole company look good.

Now the med.seems to be the one that is pulling the freight but maybe one more part is as well,i forget what they are called.

and there goes thelast of the original Dow Hones index stocks.

Siemens, while one company, is setup with those divisions, although Aviation is lumped into a larger BU called Industry

"Jones" honed right off of the index...

Good riddance, it will be sold company by company. They never made one product worth a crap.

They rule the larger framed gas turbine business for electrical power generation, compressors and pumps.

and their Healtcare equipment products seems to be top notch.

GE aviation has done well over time with engine sales and maintenance contracts.

GE Capital was once thriving until 2008.

That’s just a few.

Now,,,consumer products and appliances, not so much and the company is a only a shell of its former self.

Yeah buddy.

That’s a very expensive hunk of metallurgy sitting in the slings!

I bet most of us have flown on planes powered by GE Jet Engines, part of the reason they are breaking out the Aerospace sector.

and that was chinese and mexican light bulbs i worked at GE making incindesent light bulbs for 24 years , all the plants making household lightbulbs ,they shut all of us plants down in 2010 and the old sealed beam car and house bulb plants in 2015.

your damn right .and i told every one at the GE plant i worked at immelt was going to kill us and that was back in 2005 some laughed at me ,but look who was right ,i know b.l.s..t when i see and hear itand what they are doing . even i a common factory worker i could tell he didnt know what he was doing

Hindsight says Nardelli would have been the better pick .

Jmo