JF posted a video this morning from Boston on internal email Foreshadowing of earnings report. Looks like Power is the black sheep by far next to Transportation. Digital and Aviation ok.
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Some one mention the scary word " Predix" that will be remembered for taking GE down. Jeff drove billions $ into this over sold digital story. This is something that could have been achieved with $0 investment by partnering with Amazon or others. Literally Mr CEO, Jeff dumped billions into this digital Predix and came out with shame for entire company.
To -2qsz, hey they already did, ordered a bunch of simple cycle aero-derivatives and can't sell half of them...
To these genius leaders, a great simplification initiative would be to stop selling systems with HRSG altogether and only offer customers Simple Cycle turbine configurations. After all, it has "Simple" right in the name, so it would be THE perfect Simplification play.
If they're not going to run the Power business like they want it to have a future, then they might as well sell it to someone who will. That's what they did with Industrial Solutions and Lighting after all
I agree 1FBM, stokes is not a leader, he will go down as in history as a hatchet man of GE power. It is joke that he is located in Georgia. Take a look at transportation, another business that is a mess. Power is one business that you cannot hatchet up reduce heads and recover from when you need response to market upticks. The bottom line is stokes is john’s little be— ch. Then you got Danny boy in sourcing, who thinks you can give black ford to clients. According to him, GE has too many offerings, simplify product line. Wake up Danny, your sales team will sell any sh-t they can on any frame size in the near future, cause you ain’t selling sh-- right now. A sale of NPI hardware is better than no sale. GE continues to hire or promote A$$ clowns that do not know a$$ from a hole in the ground. Do these guys even know what HRSG is or 7H GT. It took 15 years to develop these products.
Within the Alstom acquisition is the legacy boiler business. One of which was Combustion Engineering new boiler and services business. GE is trying it's best to destroy the GTM (go to market) that has worked so well. Shame.
If you believe what's reported in earning call, no, Alstom is not the cause of Q3 problem, it's aero-derivative and AGP inventory (ordered and paid for by us but not sold to the customers because there is no demand).
Alstom is a symptom, not the cause. The idiots that decided buying Alstom is the right decision based on the market forecast that they themselves always say are never right are the cause of Power's predicament.
Power is bad in Q3. Is it because of Alstom?
JF on CNBC : "I have lot of faith in Russell Stokes to turn around Power" ..
Seriously ? The same guy who left transportation in worse shape ( to the point that it is one division rumored to be ditched in the upcoming asset sale) ?
The one who was supposed to turn around Energy connections and did zilch ?
This is as laughable as JRI's $2 EPS target for 2018 .
Power could once again be a great business , but not with leaders like Stokes
Predix is internally billed to the other GE businesses that are using it, at a high price that provides a boost to their profitability. Some of the other businesses are using other cloud solutions rather than Predix because they can't afford it. Most customers probably won't use it either, unless we manage to force them by integrating it with control systems that require a subscription to function.
Can someone explain how GE shows ROI for Digital? Is Predix making money yet?
If they got rid of 273 leadership there wouldn't be enough self directed vouchered labor to cover the cost of the free coffee&hot chocolate or the air conditioning in the new break room.
Layoffs company wide through 2018 from the top down. GE Power is the first on the chopping block! I hope they start with Nate McCormick then down to cell leaders then production managers. Those guys run the place into the ground. The place use to run smooth for a while till the latest management shift showed up.
what a f---ing joke for a Qtr 3 earnings call. Jeff and Jeff show; I thought were were done with these two! What one last hooray for these two a$$ clowns?? Did we fly Immelt in from some far away place??
It made me sick when JI starting thanking people on the call. Where the hell is the accountability for missed sales targets? Get your a$$'s out and sell beoches ! As for Power ...you ain't seen sh_t for cuts yet! ...look for some massive restructuring ...Jatila better trade in the Porsche SUV for a Honda Pilot. Digital my a$$ , I agree look at their overhead as a single entity and stop charging each business for their lame a$$ costs.
do you work for GE that you are asking for a video?
can someone post the link to video ?
Re: investor call ... Bornstein talking a lot, makes you wonder the real story on his departure
I especially loved the part where he told us "We're gonna get our a-- kicked". If you waited until now to get your resume updated, you're late.
I was encouraged until he praised Digital, then his face morphed into JI's face and I realized we are still not being given the truth!
nice results for Transportation based on that they but Miller in as CFO? guess the MO is f'up your job and get promoted. Janki, Stokes, etc
why is Bornstein still on the investor call? announced he is out so be out and stay out!
if they are moving out Bornstein due to his failures, then they should move out all the Power leadership, promote Strazik c'mon .... he was there already, bring in fresh blood and really change the culture
also, get rid of current, lighting, healthcare (no synergies at all there), get out of Hyrdo, Nuclear and shrink GGO & Global Operations as there is way too much waste there. and while they are at it ... get rid of the ecomagination, healthymagination bs team.
also, great job by Lynn Calpeter on culture
Digital ok? I don't believe they've made a single dollar in revenue nevermind profit! How are they calculating digital revenue? Sounds like more fun with numbers to me.
Where is the $2 per share now? If it is adjusted to $1.1 in less than one year, does it mean the execs were lying even they knew the fact that it cannot be met?
based on his first comment in the investor call, he should trash 90% of the Senior Leadership. huge costs for C&B there, embedded ways of doing things the "old" way, ties to Mr I Melt, etc. move 'em out! and, the question also is .... what the f' is Flannery doing there as the CEO, he has been with GE for more than 30 years a part of the cronyism and bad behaviour