Both chose to make huge decisions about the company at the exact wrong time:
Immelt, the Alstom dibacle.
Culp, reverse stock split and company break up.
Prove me wrong!!!
13 replies (most recent on top)
LC is a multi Billionaire. He's not gonna work for peanuts. He's a Davos crowd type.
Let’s point the finger where it is belongs and why a company succeeds….what did Welch, Immelt, and Culp have in common? Too focused on themselves, investors return and easy profits through pencil pushing productivity while ignoring the plant sector of management of production and sales. They left this portion to their minions, who reported to the top and bottom how well everything were going all the while shutting plants one by one to bring more money to the table to save what was left open of the power division. Well, eventually nothing is left in the US and this is where they stand.
Culp has just done what the Trian handlers wanted him to do (reverse splits / breakup / sell offs) so they can turn a profit on their investment. Not sure what rabbits can be pulled out of the hat once the dust settles from the breakup to keep investors happy.
@hcx+1itkwubZ. Culp wasn't "handed" anything he was paid a Superbowl champions wages when he only played in the minor leagues. He chose to accept a position he clearly isn't qualified for, despite all the accolades.
Layoffs for Schenectady and Power is in the talks.
Stock price back in single digit (pre RS).
It’s debacle. Not dibacle. 1 point for me.
Culp has done the best possible with the hand that he was dealt. Immelt should have stood up and reset the company after 9/11. Jack did not get the Honeywell deal done which would have helped Jeff reset the company away from Capital. Simple as that-in hindsight. Take care team.
Culp has made the best moves with the hand that he was dealt. Immelt's issue was that he did not stand up and reset the company after 9/11. Jack did not get the Honeywell deal done which would have helped Jeff reset the company. That simple-in hindsight.
The similarity between them is both create a facade and rosy picture of what they want you to believe about the company. The truth is muddled to the outside world. They both create an outward appearance to conceal a less pleasant or creditable reality.
The difference between them is Two Jets bought back stock at a tremendous cost to keep the stock price elevated and Culpable sold everything that wasn’t nailed down to reduce debt, but still can’t elevate the stock price with a crane.
The reverse split didn't mean much and splitting the company up over the next couple of years was a good move so the timing is not an issue. There, you've been proven wrong. Some of the real issues I see are sourcing from China/Russia and lack of vision or innovation.
@klx+1itkwubZ. I'd like to, but I totally sgree!!
Prove me wrong on layoffs!