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Thread: GE is dismantling an empire

  1. #1
    Veteran Member bajisima's Avatar
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    GE is dismantling an empire

    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
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    New Member BigBob's Avatar
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    Welch was horrible for GE. Check out Sears Roebuck for downsizing.
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    New Member ATLglock's Avatar
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    Is this the same company that employs over 900 lawyers to make sure they pay zero income tax?
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  4. #4
    Veteran Member bajisima's Avatar
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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?
    The one that moved HQ to Boston to also not have to pay property taxes. Got lots of perks as well.

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    Veteran Member carpe diem's Avatar
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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?
    More liberal lies repeated over and over again...

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    ♥ 2 A&D 4 my new avi! MeBelle's Avatar
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    When GE began hiring doctors in 2001 I became concerned they were spreading themselves thin.
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    Quote Originally Posted by BigBob View Post
    Welch was horrible for GE. Check out Sears Roebuck for downsizing.
    Welch has been gone for 17years and while he was there GE's value rose 4,000%.

    Why is this his fault?

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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?
    Jeff Inmelt was Obama's buddy and the head of Obama's jobs council.

    Obama enriched Inmelt with the green energy programs in his stimulus package. That is part of the reason GE didn't pay taxes.

  9. #9
    New Member ATLglock's Avatar
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    Quote Originally Posted by carpe diem View Post
    More liberal lies repeated over and over again...
    Yet here you are either lying or being a bucket carrier without knowing the facts....

    GE employs a 975-employee tax department run by a former Treasury Department official, John Samuels. The department is sometimes known as the world’s best tax law firm, and also includes former officials from the IRS and congressional tax-writing committees.

    https://www.accountingtoday.com/news...egies-to-light

  10. #10
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by Libertine View Post
    Welch has been gone for 17years and while he was there GE's value rose 4,000%.

    Why is this his fault?

    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.

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