Thread regarding General Electric Co. layoffs

GE Atlanta Is The Problem

GE Atlanta Is The Problem

GE Power used to be an expert Steam Turbine, Gas Turbine, and turbine service industrial engineering and manufacturing powerhouse where the expertise and management resided in the product departments where the experts were. These were also low cost, highly integrated centers in company owned property with 1950s buildings that were all paid off decades ago. Now GE Power is in high cost Atlanta in expensive rental buildings with bloated management with little knowledge of the business or technical engineering, manufacturing, or turbine service expertise. It is basically a call center filled with unskilled workers who answer the phone and don't know much about turbines and are not connected to the product departments.

This is because GE management is filled with predominantly Six Sigma political hacks than experienced turbine technology and business experts who know the business. This is why GE, once one of the best technology giants is failing. You can't replace people who know what they are doing with people who don't.

Two decades of bad management since around 1998 have destroyed the vitality of the business and put GE Power as well as the corporation itself in a downward spiral that many seriously wonder

GE is a mess with most of their good cash flow businesses sold off for bogus stock buy backs.

How can they recover now that their cash flow is gone, and they have become bloated with ineffective overhead like the Atlanta operation that has replaced the hard core engineering and manufacturing business that was once GE Power.

by
| 2521 views | | 5 replies (last April 16, 2018) | Reply
Post ID: @OP+SAYKNsT

5 replies (most recent on top)

Washington D.C., April 12, 2018 —

The Securities and Exchange Commission today announced a whistleblower award of more than $2.1 million to a former company insider whose information led to multiple successful enforcement actions. The whistleblower’s information strongly supported the findings in the underlying actions and the whistleblower provided ongoing assistance to the staff during the investigation.

by
| | Reply
Post ID: @8rmq+SAYKNsT

Another Welch move. He hated NY and wanted to move the headquarters of the largest business out. Should have stayed in Schenectady with lower costs and figured out how to attract/retain talent instead of overpaying and begging

by
| | Reply
Post ID: @1stf+SAYKNsT

Wow you folks sure know how to screw a company up in quick time. That's not an easy thing to do.

by
| | Reply
Post ID: @lil+SAYKNsT

GE is presently a failed company by all metrics.

GE is on the verge of getting kicked out of the Dow, is the worst performer on the Dow and is being investigated by the SEC for criminal fraud earnings statements that were recalculated two years $4.21 Billion below actual.

GE Power customers are getting really disgusted with poor turbine service by GE sending out untrained warm bodies instead of experts, poor parts quality and parts made wrong from farm out vendors and sky high prices that GE charges for lousy service. They are goi9ng to other service providers and cancelling LTSA contracts for poor performance and high prices and lack of value.

Unfortunately, there will be huge lay offs soon as Q1earnings and cash flow tanks as expected by analysts. I believe it will be even worse based on GE track record of reporting overly optimistic, unrealistic guidance numbers.

The stock has basically gone from $66 to $12 and will probably hit $10 with possibly another dividend cut because of the cash flow issue, especially as interest rates are going up so borrowing their way out will further sap cash flow deepening their doward spiral

by
| | Reply
Post ID: @wrl+SAYKNsT

Feel better now?

by
| | Reply
Post ID: @aqc+SAYKNsT

Post a reply

: