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  1. #21
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    Quote Originally Posted by tysonovsky View Post
    The only reason they haven't left is because they make Military jet engines. Those can't be outsourced.
    But that division can be sold off....

    Much like all the others that have gone, along with the other divisions currently on the sale block.

    A bargain based on the current stock price IMHO

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    So here we are 2.5 years later and GE is all but gone. I read an article this week where they (GE) were noteworthy for having lost $500 Billion is market cap. GE is gasping its last breath...

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    Quote Originally Posted by GregSY View Post
    So here we are 2.5 years later and GE is all but gone. I read an article this week where they (GE) were noteworthy for having lost $500 Billion is market cap. GE is gasping its last breath...
    Yeah, kicked out of the DOW, CEO fired a few days ago, but I don't think they're quite that dead yet. But a cautionary tale is waiting to be written about them - I'd buy that book (from the remainder pile).

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    Shame, have to lay it all at Jack Welch's doorstep.

    Tom

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    Didn't he get like 120 million dollar bonus for his great work in bankrupting the company? maybe the one swho paid him the bonus should go to federal prison failure to maintain fiduciary care. they could develop new techniques to avoid being shanked.
    Bil lD

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    Quote Originally Posted by Bill D View Post
    Didn't he get like 120 million dollar bonus for his great work in bankrupting the company? maybe the one swho paid him the bonus should go to federal prison failure to maintain fiduciary care. they could develop new techniques to avoid being shanked.
    Bil lD
    That was Immelt.

    His care package was approved by the other pigs slobbering at the trough,
    Err, I mean the board of directors.....

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    Quote Originally Posted by TDegenhart View Post
    Shame, have to lay it all at Jack Welch's doorstep.

    Tom
    Have you heard the episode of Freakonomics where they interview him? It's worth a listen.

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    Quote Originally Posted by Joe788 View Post
    No. Tax incentives are critical. GE pays a billion dollars in state, local, and payroll taxes all over the country every year. Those taxes have nothing to do with federal income tax, despite Bernie Sanders' expert opinion on the subject.
    In my expert opinion, I'd like to pay ZERO percent federal income tax just like GE did. Sign me up for that corporate welfare!

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    The biggie seems to be investing in Alsthom......not surprising since GE has been in the steam power business for over 100 years.........Everywhere you look weak kneed governments are refusing to make any decision on coal fired electricity,and indecision kills investment....Its left a vacuum for green activists to go on a egotrip,by threatening banks not to invest in coal power.....Out here the power question has been seized by showmen/clowns like you know who.....What politician ever refused an easy way out.....and with a media personality....

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    GE is not in the steam generation part of the equation, they make the turbines, generators and associated electrical equipment. Its outfits like Combustion Engineering and Babcock and Wilcox that do that.

    As side note, the GEC that merged with Alcatel Alsthom SA of France is NOT GE company of the United States. GE and GEC are/were two separate companies.

    Tom

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    I did a lot of work for GE. Pre Welch I would get paid in a week or two. Later, it was a month minimum and often longer and it was a constant battle. I would get notices that I had to give a discount to be paid in 30 days. Forget the old 2% ten, net 30. Each section was rated by their profits, not what they did for the overall good of the company. The people like the electrical and electronic repair people I dealt with constantly had to deal with mad suppliers cutting them off because the accountants held up payments and gloated over the interest they saved.

    Loyal employees could count on early retirement at the point where their retirement pay rose faster than their value to the company. When the manager over the two shops I dealt with reached that point, they demoted him to a rinkydink post that they knew he would not accept and he left early.

    I read about half of Welch's book, the most hypocritical, self serving piece of shit I have had the misfortune to read.

    Bill

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    The worst part of it is the whole business world is 'monkey see, monkey do'. When all the jamokes at other companies saw GE doing it, they adopted those same practices because, after all, GE was doing it. Companies openly promoted the idea - with no shame - that slow paying vendors was a sweet way to put money in their pocket at the expense of someone else. Plus a bunch of other bad behavior, too.
    Last edited by GregSY; 10-10-2018 at 05:57 PM.

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    Quote Originally Posted by GregSY View Post
    The worst part of it is the whole business world is 'monkey see, monkey do'. When all the jamokes at other companies saw GE doing it, they adopted those same practices because, after all, GE was doing it. Companies openly promoted the idea - with no shame - that slow paying vendors was a sweet way to put money in their pocket at the expense of someone else. Plus a bunch of other bad behavior, too.
    What's funny is when one of these hi powered buyers comes from one of these
    large ruthless companies (semi retires for example) and goes to work at
    a small town "Mom & Pop shop" with maybe 20 employees total.

    Tries the same strong arm tactics on suppliers, and finds out real quick
    that he has NO power.

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    Quote Originally Posted by TDegenhart View Post
    GE is not in the steam generation part of the equation, they make the turbines, generators and associated electrical equipment. Its outfits like Combustion Engineering and Babcock and Wilcox that do that.

    As side note, the GEC that merged with Alcatel Alsthom SA of France is NOT GE company of the United States. GE and GEC are/were two separate companies.

    Tom
    Tom combustion engr has been gone now probably 30yrs. First ABB bought them and then ABB sold out to Alstom. The only party of the old CE that Alstom didn't take was the asbestos liability, so if you got mesothelioma from your days back with CE ABB footed the bill. Then Alstom got bought by GE so I guess that GE is in the steam generation business or at least what is left of it.

    When I worked for Alstom back in 2008-2009 the Chattanooga plant was going pretty strong. They were in the midst of tearing out the big press brake used to bend 6" think sheet metal into steam drums but in its place was going a waldrich seigen lathe with a 200+ inch swing and a mammoth HBM and a state of the art shop for making supersize nuclear steam turbines (nuke plants run at much lower pressures thus need larger turbines per MW). I think I saw the auction brochure for it 2-3yrs back, right when GE came in. Anyone know where that went? Anyone know if the big old CE Chattanooga plant is still running anything? Is GE still doing anything in Schenectady?

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    On further thought here's what happened to the Chattanooga works GE Power plans to sell 9-acre Alstom site in Chattanooga | Times Free Press

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    Schenectady is still alive, kinda...
    I don't know how much they are doing anymore. I have heard rumors that they only have like a years worth of work left then a whole buncha people are going to be standing around... Apparently no one wants the BIG turbines anymore, everyone wants small ones that can be turned on/off in under 30 min.

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    In Brazil, a Alstom plant for transit cars is now part of GE.

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    Quote Originally Posted by PlasmaOnTheBrain View Post
    Schenectady is still alive, kinda...
    I don't know how much they are doing anymore. I have heard rumors that they only have like a years worth of work left then a whole buncha people are going to be standing around... Apparently no one wants the BIG turbines anymore, everyone wants small ones that can be turned on/off in under 30 min.
    Do you mean "Gas turbines" ?

    If so, GE makes those elsewhere, so will still be in the game.

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    Well, I guess I wasn't aware of GE getting into the boiler business. Did a google search of Alstom. Made my head spin trying to keep up of the buying, selling, mergers and what not of this company. Almost seems like something was being bought or sold every three months.

    So now Alstom is in transportation and GE is in power. Two separate companies.

    Tom

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    Quote Originally Posted by TDegenhart View Post
    Well, I guess I wasn't aware of GE getting into the boiler business. Did a google search of Alstom. Made my head spin trying to keep up of the buying, selling, mergers and what not of this company. Almost seems like something was being bought or sold every three months.

    So now Alstom is in transportation and GE is in power. Two separate companies.

    Tom
    Alstom transportation is now part of GE transportation.....
    At least the Brazil plant......

    And now GE transportation is being sold off to Wabtec.....

    IS&E is now part of ABB.


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