word has it vic is in a p*ssing contest with the businesses who won't fund him and has turned to bullying to get more money in house. With bhge and soon health on the way out, his targets have been reduced to just a few and mr joyce isnt having it, so power and ren are his main targets. Expect a major shakeup in his 'internal funding' team over the next 3 months.
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Time to show Vic (and other senior leaders of the former regime) the door
It will be very difficult to support GRC with externals. It takes a long time to build relations with funding agencies. Most RFPs are targeted at a specific supplier and you need to be in the process from the start . Agencies like NASA prefer to work directly with Aviation rather than GRC because they get more internal credit working with the folks that bend the metal. Given the current environment with backlash against government giving breaks to big companies like Amazon and GE it us hard to see why any gov't agencies would want to go out of their way to help GRC.
As far as contracts from the remaining GE businesses goes, unless GRC gets its overhead rate down to a competitive level (without the assessed funding to subsidize it, as was done in 2018, it is way too high), the amount of contract work will continue to diminish. It seems likely that the current size of GRC is unsupportable and it is not unreasonable to expect a much smaller GRC in the future, if it survives in its current form at all. The two remaining sites could be downsized with the remaining folks divided amongst the remaining businesses.
It is a sad state of affairs as GRC did a lot of great things in its day, despite the comments on this site of some of its detractors.
If 100% true that's an earthquake in GE land. Gone would be the excuses for GRC thinking it's a research center and gone would be the excuses for the business not making the most of GRC. Earthquake.
Vic has stated that >95% of the 'corporate' money has to go towards externals cost share. That means the pet projects have ended. Goodbye friends of Michael I! And there are no more assessed dollars...Culp mandated ZERO tax for the purposes of GRC. Any money given by the business will be because GRC EARNS it!
Inevitables and battleplans...hmm...may be we can "commercialize" our naming creativity. Marvel, or DC comics, are you listening - we can suggest blockbuster movie titles for you. Of course you got to pay us for that!
Wasn't there a $150 Mn. externals 'backlog'? Also, aren't new "inevitables" and "battleplans" bringing new $$?
Funny how GRC and GE are hard up for money, yet groups at GRC still go off site for"meetings" for days at a time. GRC is literally a site where conferences are held, so why do these groups (FSO) etc, waste stock holder money and more importantly, why does Vic allow it?
@1ajb - The number of "businesses" is dwindling , and hence the "tax collection". The remaining ones , except aviation have no earnings to pay tax . Unless Vic issues his own " GRC bonds" in the market , there's no way of making up to anywhere close to the same levels . May be convert the "Lodge" into a Holiday Inn Express to raise cash
Knowing Vic this is believable. No idea why he is still at GE.
There's always a pissing contest. There's noting "the word is...." about it. Fake news.
Each business pays a tax. It's set by cooperate. The businesses demand to have the last word on how it's spent. GRC knows the businesses have no say so tell them to pound sand. Always the same.
Some would do anything to help stay. Read news.
this is true and if it things don't change vic is out
Fake news