Wow. The more I listen to this call, the less confidence I have in the future of Power Services. No clue on how this business works.
So many buzzwords and excuses for why we are doing so poorly. But the new magical solution is apparently called "Golden Thread." It must be for making the emperor's new clothes.
Please let me get out of here before the roof falls in!
The plan for the ambition laid out to investors and community in general (mainly for Power) is far from what is needed to deliver the level of excellence that a GE "franchise" is expected to provide. Power is operating under a back stabbing / survival mode with subpar Project Management / Business Management content and know how. FieldCore, the execution gem that would excel in delivering high level field services to GE's customers is being run by a bunch of technocrats / bureaucrats that are more concerned with the company integration than by building and sustaining a true high performance and technically solid organization. The Tampa leaders are absolutely clueless about what needs to be done to effectively run a job (no metrics, no processes, no tools) and the Atlanta ones are simply rolling over a few of their peers under them to keep their power and bureaucracy structure. A house of cards...
Services broke out of the product group over 17 years ago; and best move Power ever made. Services grew into a billion $ market. Never could had done that inside of an ancient product dept stationed in good 'ol boys club, Schdy. Schdy is like watching re-runs of "Mad Men". Get with it fellas, it's not the 1950's anymore.
"Parlay"
Straznik is clueless, look what he is doing with FieldCore
You cant have low quality service, field engineers who don't know what they are doing, and just jack up prices to make up for lost business from unhappy customers that cant get expert support for their equipment. Customers don't buy the BS they hear, and it turns them off just to hear it.
Atlanta is a useless mess and should be shut down and recombined with the product departments where the experts are who care about our customers like it used to be.
GE Power used to be run by experts who knew what they were doing.
Marketing, finance, engineering manufacturing and service teams worked together and understood the workings of other groups in the business. Many had over 20 years of experience working from the bottom up and were still very connected to the lower levels and shop floor. This is what made GE management world class and really good at what they did.
Now we have fools who don't have a clue, are completely disconnected from lower levels, and make bad decisions that has destroyed the GE brand image, vitality, and cash flow of the business.
Why doesn't GE understand that you need people who know what they are doing to run the business from bottom up, and top down. This is what used to make GE great at almost everything they did
The last post is correct. Nobody has all the skills to run such a large business on their own. However, the one setting the direction and acting as the face of the business should at least know what a gas turbine, or steam turbine, or generator, or boiler is BEFORE he joins the business.
The idea that bean counters should not be at the helm of any profit-seeking enterprise is naive. Financial control and regulatory compliance is essential to be successful in business and you would find Operations folk generally don't have the knowledge for this. What GE snr management should be doing is assimilating various core disciplines into a central decision-making group to channel expertise appropriately. Isn't this freaking obvious. It's like having to re-invent the wheel with GE.
He is a typical politian, speaks a lot says nothing. The content what he said in more than 1 hour call can be resumed in less than 2 minutes, the rest are buzz words.
I have zero confidence in him and his team.
They'll destroy the little that is left, as long we leave the bean counters take over, for them everything is resumed to excel tables and numbers, they have zero ideas on how the world works or the implications of their decisions.
Furthermore, fools surround themselves with other fools so they don't look bad.
We also heard Big Russ broadcast stating that FieldCore was aligning the GE franchise with customer expectations but they were having more problems than anticipated.
Its obvious that our leaders are either fools (fooled easily) or don't know the business and are completely disconnected, or both. How can GE win when our leaders don't know the businesses they are trying to run and are making horrible decisions and so disconnected from reality.
Power service will lose a lot more customers than it already has.
Customers are not fooled by BS. They can immediately tell what is real.
GE needs to put people back in charge who know what they are doing and have done the work, not fakers who try to BS customers and workers who do. Once you lose your reputation, you are screwed.
Sounds like Straznik doesn't have a clue about turbine service.
GE Power - Field Core Disaster
GE Power service recently fired all their turbine technical advisors and told them can come back as temp agency Field Core employees with huge pay and benefit cuts.
Much worse is they will no longer get overtime pay for typical 60 and 84 hour weeks, many times all night and on holidays working in customers power plants and on the road away from home. Many immediately quit, some even walked off job sites with turbines open for maintenance outages.
We hear many have called competitors where experts like generator specialists are being scooped up. Now new outfit Field Core is desperate to get technical advisors because of huge shortages for committed installation and maintenance work with customers. In addition, GE has bad reputation about sending out people who don't know the turbines they are working on yet charge $350 and $450 an hour straight time for service and 1.5 times that for overtime. Worse yet, they have to send out several people instead of just one expert.
GE doesn't respect technical expertise anymore. Turbine service used to be the best with world class experts
The major problem with power services is lack of expertise, starting at the top.
Atlanta should be shut down and the service business should be part of the product departments where the expertise is like it used to be. Today turbine service is run like an answer center and quality is very poor especially in customer power plants.
Power services keeps on getting worse and worse and customers are really angry about lousy service and turbines that don't run correctly after we work on them.
Correction to the original post above, it is "Global Thread" ... not Golden Thread. Scott is correct, too many historical decisions were made within specific functions, not understanding the impact across other functions. I have confidence in Scott. #PSRiseUp
Sounds like the Repair org is going to be the next "place to flee." I also pity the customers.
Wait, wait, wait....is FieldCore a separate company with third world cost structure and now "organized with Repairs, do we layoff everyone in Repair and then rehire them back at 80% of salary, free OT and lower benefits? So, when does Engineering and R&D get rolled into this "Extended Team" and all of the core service caps get outsourced to Belcan?
Repairs and FieldCore to roll up under a new organization structure later as "Extended Teams." I pity our customers.
Was not able to watch it...what was said?
Threads and Velocity. Also, quarterly blueprints are antiquated.
I saw the announcement but what did he say?