I wonder is GE is going to try and sell out cheap. They have been in the deep red financially for 2 years now. As is most oil and gas contractors here GE and say pretty nasty things. So I won't be surprised if GE Oil and Gas goes down. If you say it provides millions of jobs in US... That is a lie. Their footprint in London, India, and China is much greater than US.
GE asks us to vote for Trump cause he also has a large international footprint over US.
I just so happen to be listening to that very album, THE DOORS recorded in 1967, While pondering what type of silliness management has in store for today. LOL the enter number is 69, and what a good number it is.
this is the end my friend
I agree, GE Oil and Gas will be gone for this downturn. The management is clueless and unfortunately most of the heritage folks from Hydril and Vetco days took off the second they saw GE is the new player in town. I talked to a few of the heritage folks (me being one) and we all didn't like the big company with useless processes and managers who did not have a clue of what we do and why we do it. When we were smaller companies we were treated like real people not metrics and we understood that if we do good we will get returns along with the CEO. Here Mr. Lorenzo eats all the profits. Now he just cuts people for his bonus and raise each year.
Very Sad
GE shopping certain facilities around. Downsize and consolidate. Lean manufacturing at its finest. Will be the blueprint for all other companies in oil & gas energy sector.
GE management does work. It just needs to right employees. Those not willing to adapt....
GE had no expertise in oil and gas. To think that you can just buy-in and introduce GE management and succeed is just very short sighted, especially when you get in at the wrong time. Better to cut your losses and run and leave it to those who have been through and know how to manage a big downturn.