Thread regarding General Electric Co. layoffs

GE is now selling finance division that supported POWER

Folks,

After JF took over and since I sold this POS stock, the company is heading down a path of being 1/3 to 1/2 of what it used to in total sales as compared the Jeff Immelt days. When are shareholders going to ask John Flannery to take a pay cut? Recall when he took over it was company that had ties to Oil &Gas , BHGE, Healthcare, GE recip. business, part of GE finance , GE digital. I am sorry but he needs to take a haircut on his salary and so do all the corporate staff. Better yet why does GE need a corporate staff at all. GE corporate seems to think the way to navigate this disaster is to cut costs in all divisions and sell off unwanted low margin business's. I like the TESLA approach ...take GE private.

by GE corporate needs to go bye bye
| 2493 views | | 7 replies (last August 8, 2018) | Reply
Post ID: @OP+UybEncF
Comment! It's anonymous!

7 replies (most recent on top)

Schenectady will close in 2022

by Anonymous
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Post ID: @crj+UybEncF

For decades GE used fuzzy math and mythical procedures to show profits. It started with Jack back in 81. GE would take from something making a good profit and skim some off the top and add it to where another part of GE wasn't making a profit. This way everything across the board with GE looked profitable. It worked well for a long time. The stock's history shows that. The problem is that GE was robbing Peter to pay Paul all along. So something like GE Plastics was robbed to pay GE Power and show a profit. The problem now is that over the past year or so the investors started to catch onto what GE had been doing for so long. JF knew gig was about to be exposed, so he jumped ship. Now they need to show proof of profit and performance and can't. On top of that they have sold off all the Peters they used to have that would pay Paul.

by Anonymous
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Post ID: @jyz+UybEncF

Why not eliminate all the layers of people that just report numbers? The sites waste all their time just feeding these people information so they can report it up the latter and look important. Drives me crazy! How can anyone think all these levels are needed.

by Anonymous
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Post ID: @lor+UybEncF

  1. GE switched from cash to stock based compensation for top execs. So their pay this year is lower already.

  2. If the debt to earnings ratio doesn’t improve and interest rates go up, GE could run out of cash. They will run out of assets to sell and have to go GM route. Bailout and bankruptcy. They are off loading debt, but earnings are dropping as well. All it takes is aviation or GECapital to hit a bump.

  3. People running Power and GE for that matter, are novices in turn arounds and in the industry. Flawless execution and luck are needed to recover in 3 years. Too much to ask.

by Anonymous
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Post ID: @yuj+UybEncF

how will taking it private impact his salary?

by Anonymous
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Post ID: @jsf+UybEncF

Might even be 2022 ..it is a long cycle business. At least you can see it and predict the sales. Lead times for this equipment are always 40-50 weeks. GE is no longer building AO machines. So, there really is no short cycle path for heavy duty GT's.

by Anonymous
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Post ID: @zbd+UybEncF

Power's fate is now sealed. Don't expect a recovery in 2021.

by Anonymous
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Post ID: @pkp+UybEncF

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