What has Culp done besides shred the company for his own benefit? He has no interest in saving the company and has proven this with his recent actions. If you don’t believe it, look at the stock price, nobody trusts him anymore. Won’t be long before there’s nothing left to “split”.
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Flattery was given an exit package worth a little over 10 million dollars and a pension benefit worth almost 22 million which he can start collecting next year at age 60. He ain’t coming back.
3psi+1e4KOgFy Rich? Bringing in $250K or more? Ge-z, wish I was still working at GE with this stable easy high income, what could I have done to make a difference in the company? Nothing because I did what I was told to do. The poor ones making less than $250K are thinking, you gotta know when to fold them, know when to hold them, know when to walk away and know when to run.
There won’t be a split, GE will be in bankruptcy by the end of 2022.
I do think LC is overcompensated but to be fair, the company was shredded when it overleveraged. To many big gambles that didn't pay off. But then most of the world central banks are in a similar situation. What are the rich people thinking?
3ssg+1e4KOgFy agree 100%! Like the other segments, decisions will be made no matter whether they work or not as long as changes are made to justify someone’s temporary job for high pay. Once this company segment is drained and not for the good of its longevity, the high pay will run out (stockholders, CEO, boards, management), off they go. It’s a terrible game of every man care for themself temporary and nobody else/certainly not for the good of the segment’s future. I say Aviation will be no different, they r on the two tier now, they will be too busy fighting amongst each other and not able to stand together firm even one simple topic in order to get the top’s attention to listen, because only one-half will agree “it is not going to work for the good of our/company’s future” even with common sense explanations rolling upwards. So, the top will continue to do as they please, drain the segment until the high pay runs out and off everyone goes (fired, layoffs, retirement, etc.). Same old same for many years as before. The hourly doesn’t stand a chance unless this segment gets sold, as the future will be the history past at GE.
I dunno, if the corporate parent leeches off of aviation, then that will doom that unit. You know they'll hold onto all of the corporate expenses like Crotonville, the Boston HQ, GRC, long term insurance debts and CoreTech. Besides if ya look at Appliances, it seems like they are doing well now they got out from underneath the GE management... https://www.fool.com/investing/2021/11/30/ges-appliance-castoff-is-doing-way-better-after-be/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
Flannery? James Bond couldn’t straighten all these song and dance shows to cover up years of bad decision making for the longevity of the company. Obviously, you have not witnessed the years of downfall changes like many before you. And blaming it all on the economic storms is another scapegoat, GE could have weathered these storms like many before with better decision making to allow fir down turns in the economy.
@1grl+1e4KOgFy I believe you are right. Unfortunately I think that Power will have parts of itself sold off. What will survive, will be a fraction of what itself was, after the split becomes official. Think it terms of giants from the past like Block Busters or Howard Johnson. They used to be everywhere and now there are like two left in the entire country.
Garbage in garbage out.
Aviation will make money, Healthcare will hold its own, and Scott is left with the anchor.
Wish you spent that much time on your real job.
Under JW, it pretty much became Fake it till you Make it. Well GE never really made it but it sure did look good while faking it. JW knew how to do it, it was his design but I think even he knew that there was a point where if GE didn't Make it, the gig would be up. At that moment is when he probably decided to retire. I think JI had an understanding of what was going on but didn't fully see the long term effects that were coming from his start. I think the 2008/2009 Federal Gov involvement only brought him additional time to make a graceful exit. JF was simply setup to be the Fall Guy. LC got brought in and given a clear idea of the actual status of GE and was told to do what you think is best to slow or stop the decline of GE. I think he and they knew he couldn't stop it for all of GE, so the For Sale sign went up. With what's left, he knows what he can stop and save. He also knows what he can't stop and save. So that's where the split comes into play. In the end, there will be more lives that need to be saved than there is room in the lifeboats. They know that and they also know they will have a spot in the lifeboat. Unfortunately there are a lot of people at the bottom thinking they will have a spot as well, and the fact is that they will be lucky if there will be any floating furniture nearby to cling onto.
@qlx+1e4KOgFy. Jeff!!!, is that you😂😂😂😂😂
Dude this company died many years ago. If you stayed around and got screwed by the stock tanking its your own fault.
This company has been dead (money) for years.
When the stock popped after the split announcement it still had a 20 year total stock return of NEGATIVE 64% and it's now lost another $21 (~ 18%) since then.
Sometimes a person can only prolong the inevitable.