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Thread: GE is dismantling an empire

  1. #11
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    Quote Originally Posted by NightSwimmer View Post
    Their value ballooned because he transformed them from an engineering and manufacturing company into a financial firm. Their industrial automation equipment took a major downturn when that happened. They had previously been competitive with Rockwell/Allen Bradley in that market.
    So Welch should have took action to make GE less profitable instead of more profitable?

    What did Welch do to their industrial automation division other that the deal with Fanuc?

  2. #12
    Veteran Member bajisima's Avatar
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    Shut up and vote Addiction Solitaire Champion, Double Deuce Champion, Queen Jewels Champion, Ray Ray Shuffle Champion, Twins Champion, Blow Up: Arcade Champion, Bunch - Time Trial Champion, Znax Champion, Zoo Keeper Champion, Sobics School Champion, Swap a Smiley Champion, Makos Champion, Dino Drop Champion, Flower Frenzy Champion, Some Puzzle Champion, Funny Bubbles Champion, CubeZ Champion, Dinky Smash Champion, Fun Fun Animals Champion, Fruit Fabriek Champion, Raft Wars Champion, Rainbow Monkey RunDown Champion, Raft Wars Champion, Crime Puzzle Champion Blueneck's Avatar
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    Quote Originally Posted by bajisima View Post
    Wow. And we just bought a small GE window air conditioner yesterday.
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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Blueneck View Post
    Wow. And we just bought a small GE window air conditioner yesterday.
    I know we have all GE appliances. They dont own them anymore, sold them to the Chinese.

    https://www.cnet.com/news/its-offici...ongs-to-haier/
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    Quote Originally Posted by bajisima View Post
    I know we have all GE appliances. They dont own them anymore, sold them to the Chinese.

    https://www.cnet.com/news/its-offici...ongs-to-haier/
    Does that mean I have to fill out my warranty card in Chinese?
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    Quote Originally Posted by ATLglock View Post
    Is this the same company that employs over 900 lawyers to make sure they pay zero income tax?
    Just like Trump.....it you realize that Trump doesn't actually pay his lawyers.

  7. #17
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    Quote Originally Posted by bajisima View Post
    Kind of sad..

    It was once a sprawling corporation that included NBC, Universal Studios, a giant appliance company and even one of America's biggest banks.

    But now the iconic company founded by Thomas Edison is making itself smaller and smaller. And that shrinking has gained urgency in recent months as GE races to raise cash, chip away at a mountain of debt, and plug a huge hole in its pension fund.

    No business is too sacred for the chopping block, especially because GE's stock price has been cut in half over the past two years. Even businesses central to its vaunted history — the 111-year-old railroad division and Edison's light-bulb unit — are up for grabs. "This is a slow-motion break-up of the company," said Robert McCarthy, an analyst at Stifel. In the 1980s and 1990s, legendary CEO Jack Welch turned GE into the biggest and most complex conglomerate on the planet. Now the new boss, John Flannery, is trying to fix the company by doing the exact opposite.

    The sell-off amounts to a rejection of the conglomerate model itself. GE wants to focus its attention on what it believes it does best: making power plants, jet engines and health care products like MRI machines.

    Inside the dismantling of GE - CNNMoney
    There was an extraordinary level of arrogance in that company. A remember negotiating a contract with GE and their reps acted like it was our privilege to buy their products. One of them even quipped something about being a "Fortune 5" company -- as if the fact they were huge meant we should submit to their unreasonable contractual demands. So, I take a sick joy in watching them slide down the rankings.

  8. #18
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    Quote Originally Posted by BigBob View Post
    Welch was horrible for GE. Check out Sears Roebuck for downsizing.
    I also think Welch was a terrible CEO. He focused on maximizing short-term returns, to pad his own wallet, rather than focusing on the longer-term innovation that had made GE a huge success in the first place. You can run that way for a while, "sweating the assets" and "eating the seed corn," and it'll look like it's working. The same is true for mistreating your employees -- the older ones, at least, who have trouble finding comparable new work, will put up with it. But eventually the bill comes due. Welch built up a huge cult of personality around himself, and focused more on his media image than on preparing the company for the next century. They're paying for it now.
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    Quote Originally Posted by Arkady View Post
    I also think Welch was a terrible CEO. He focused on maximizing short-term returns, to pad his own wallet, rather than focusing on the longer-term innovation that had made GE a huge success in the first place. You can run that way for a while, "sweating the assets" and "eating the seed corn," and it'll look like it's working. The same is true for mistreating your employees -- the older ones, at least, who have trouble finding comparable new work, will put up with it. But eventually the bill comes due. Welch built upuld a huge cult of personality around himself, and focused more on his media image than on preparing the company for the next century. They're paying for it now.
    So GE would be successful today had they continued investing in R&D to build small appliances and white goods and incandescent light bulbs in the US today?

  10. #20
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    They have now lost their position on the Dow 30 list.

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