GE SND BHI will create joint venture end of this year ...
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ha you must be the deadwood.
why are you not developing new better cost effective stim?
I have seen Cudd convoy heading north from houston today while u pumps are idle or smoked.
First off, it's laissez-faire. It's hard to imagine more of a crony company than BHI. BHI is always the first to kowtow to government requests. Recall, if you will, the request by congress 5-ish years ago to disclose the composition of proprietary frac fluid... BHI was happily the first to do so without even a murmur of discontent.
GE is worse. Jeff Immelt has a grossly inappropriate relationship with the federal government He's a registered republican, but has visited the White House close to 100 times in the past 8 years, and was a member of Obama's jobs board. Immelt is one of Obama's most outspoken supporters of his Climate Change proposals. What does he get in return? Huge tax breaks and federal subsidies for GE, and a bailout for GE Capital in 2008. He openly admires and supports the communist government in China (watch his PBS interview with Charlie Rose).
If that's what you call Laissez-faire, I'll pass. Give me anarcho-capitalism in that case. GE and Baker Hughes have no interest in a meritocracy. They promote diversity of ability. The reason GE is doing better than BHI - aside from their diversified market - is that they're better at the crony game than BHI.
ive been through a ge merger, they somewhat mo smarter, no discounts on washer/dryers but lasizze fare means the real knowledge base will run new company. minimal interference.
a lot of dead wood that managed to wiggle up baker will be force exit.
On comment from below: "Baker is going to have to scale the company down to about half size to actually survive." Any units in downstream based ion Sugar Land that need to be taken out?
I get achieve emails regularly and the product line I work for is busy. 80 -100 hours a week
- lugr: Did you see the Q2 financial report ? If BHI are successful then negative earnings and negative dividends (for the last 6 financial quarters) must the new "in thing"
-1ugr: not sure if you are being facetious or if you are just delusional
Do we actually see BHI surviving beyond few months in current market ?
Variable costs have hone up as a percentage of revenue. Not sure where the "first in class in processes" comes from. As the market picks up we will see costs escalating at a greater rate than margins.
Baker Hughes is a very successful Enterprise , not because of the people but because of the system and processes . Baker Hughes is first in Class in processes .This is the reason that PP was cleaned up and made into a viable division . Baker made PP very profitable and cost conscious . This will show once the market returns
BHI will have great difficulty surviving in this new era. It's cost base is too high plus it does not have the agility to compete with the new up and coming independents, many of whom are now being headed by ex-BHI employees with in-depth engineering knowledge and more poignantly "a grudge". Current stock prices are completely artificial.. no growth, no dividends..
GE can't afford Baker Hughes. If it took it, then GE will basically make it go in the gutter. It is best if GE stays away because they can only do harm.
Baker Hughes is a severely broke d--k company. They will file bankruptcy by the end of 2016.
Don't worry Marty and his buffoon's have a master plan. They are gong to hire Sharpton, Jackson and Obammy in 2017. Because yes we can!!!
Oil will remain in the 40's to high 50's for the next several years . Investors / Hedge funds are trying every day to get their money out of the oil business . You will see lots of quick increases in oil which will just be the Commodity traders trying to get their money back and run ( shorts ) . Something to look at is Baker has 3.5 Billion , the mother of all breakup fees and they have not chose to capitalize anywhere . Now it is a prime target for a buyout just for the available cash but they are buying back stock to pacify their major stockholders . Baker is going to have to scale the company down to about half size to actually survive . Money is leaving the O&G business everyday, Investors are going elsewhere. In most areas the independents are getting jobs over Baker . Baker is paying cash to call themselves the #3 Oilfield Service company . Not acceptable for a buyout .
TMF just sayin
Yes, there have been Achieve messages. There is no way in hades that GE is going to buy Baker now. Why would any company have an appetite for Baker after watching this year and a half clusterf--k with Halliburton?
It will be worst merging with GE for long run.
BHI to file chapter 11.
All divisions of GE reported sognifiant losses