Flannery had his chance to throw out the kitchen sink. Today's announcement by Power months after Flannery's clearing is beyond disappointing. Forget the $10 target. Shares will drop well below that and the whole company will be splintered, sold off. The end. Thank you to Jack (master of nothing), Jeff (id--t beyond belief) and John (in the wrong place, wrong time and beyond his capabilities)
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Stokes said that every new product introduction includes a period after its launch where experts fine tune and adjust the product and technology. "This is normal," Really Stokes? You're in so deep you don't even know what you don't know. Every time lately that a GE exec opens their piehole the stock drops another 5%, my advice....STFU!!
Need someone from outside with heavy power experience.
This isn't the only component on the HA with risks, either. Several stages of power nozzles also have "oxidation" concerns. Their "fix" of replacing these buckets with more of the same design is just kicking the can down the road, too. Anyone who may have known how to address these problems has already either retired or laid off. Better get out while you still have time.
Engineering understood the risk long ago, the general just kept bidding unsustainable performance and play the odds that it won’t blow up in their faces before they got promoted out of way. Well, now it blew up on their faces and you know what, the general never set reserve aside to pay for it, just like the long term care fiasco.
You think this issue was known months ago? You give the general too much credit.
nothing like forced diversity to force decline
The last act of Immelt was to install Russell. It was essentially a poison pill, as Russell has zero power background and zero connections in the industry. Maybe a good guy for a low market, low risk area like Energy Connections but he is so far over his head he might as well be in Atlantis instead of Atlanta