Because this is a systemic people's and culture problem. I have a friend who is works at Siemens and they have a saying over there -- too many Chiefs, not enough Indians -- sounds familiar? All these big conglomerates suffer from the exact same issues with culture, integrity and human politics as GE. So I hope that we have a level playing field. In before mass hating, I am just voicing my personal opinion, and I am an optimist :)
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GE Power will not recover. Weak leadership all the way down to CEO levels.
@Se6jg7N-1ase go get it. Fyi IF was in the middle East to collect cash. He came back empty handed
GE has tons of cash overseas
It's hard to say right now if GE can "recover" in the near future. I would guess no. The massive debt is going to keep the company down for the next couple of years anyhow. Lookout for some difficult decisions coming our way.
GE has lots of debt and not enough cash. That is bottom line. GE will survive if they can come up with cash. I can see GE asking Gov for a bailout, some special loan arrangement, or sale of division to raise cash. Yes I think most large companies are similar in that leaders today look to use companies for there own good, not interested in product they make. But other companies don't have the cash problem GE does.
"Welch and Immelt trained" and HR still runs GE management. Not the shareholders. HR.
I used to work for Siemens. They had huge integrity issues when I was there, but they were always fiscally disciplined and always ( and still) kept a lot of cash reserves.
The leadership at GE is Welch and Immelt trained, so it is not likely they are qualified to lead the company out of its current dilemma.
Clapping hard does not really bring tinker bell back to life. Sorry.
Entertaining to watch GE dismantle into oblivion. Bad management and bad decisions have destroyed this company. That's what happens when you put people in charge who are not qualified to be there. Identify leaders with the right skill, performance and results and not because they have done a certain course or somebody knows them as a good ole boy. This just shows the people who appoint them don't know what they're doing.
It doesn't matter if you are an optimist or a pessimist. The mood is the result of the reality, not the other way around. Simply being happy and saying everything will be fine will not make it fine. You need to have the right people with the right ideas and the resources to make them happen. Right now those are all on the decline, not the increase.
Plus the pension is underfunded.
GE does not have the cash reserves its competitors have. GE spent A LOT of money poorly these past ten years. That's the difference.