GE continues to use non-answer "talking points" when customers ask about GE's gas turbine combustion failures. Another example of GE's lack of ethics. Customers can see through the BS and should be very wary of General Electric. The internal turmoil and low morale throughout GE is being felt by the customers.
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GE Greenville manufacturing needs new leadership before it's too late. The plant manager is NOT qualified. Just another bean counter that tries to make quarterly numbers rather than a quality gas turbine that customers deserve and expect.
Vic continues to rake in $Millions while we lose our jobs and can't buy pencils to work with.
@9lzd -- you don't get it. Vic HAS gutted GRC, unless you think a 50% cut (globally) doesn't qualify as gutting. Granted, significant cuts were inevitable and probably necessary. The problem is that GRC is dying. It should have been cut and then stabilized, to retain the best people. No stabilization is in sight, and good people continue to leave on their own.
I mentioned Renewables and Gas Power not to imply everything in GE is bad, but because VA boasts about his success in turning around those businesses. Yet in this thread and others, you see Power employees blaming VA for problems with the new GT fleet, and wondering why there's no accountability. On top of the bad environment he's created at GRC, it seems to add up to a bad track record. VA has great ideas for product differentiation, no question, but he's not an organizational leader who knows how to motivate employees -- especially at GRC.
You might say it could have been worse, and VA helped protect GRC from closing altogether. Maybe. But it seems Flannery wants to keep the best GE businesses together as a conglomerate, and GRC and the "GE Store" is a strong part of the argument for doing that. Even activist investor Trian mentioned the importance of GRC in their 2015 analysis. So, I won't thank VA for not closing GRC. I'll thank Flannery and Trian first.
It's funny you should mention GEA. David Joyce is easily the strongest supporter of GRC among top GE leaders. He delivers a clear and strong message on the importance of GRC to Aviation whenever he visits, and it's clear that he's not faking it. He believes it. GEA is a great business, and it's the largest single source of business funding at GRC. David gets it, so I'll thank him too for supporting GRC.
VA will gut GRC...it was a bloated sacred cow adorned with fools gold by Immelt. On Mitsubishi, they owned Q1 by a small fraction....GE blew them away in Q2 and Siemens was a distant 3rd.
Now how about GEA? all this talk of bad things at GEP and Renewables......
It's okay... VA has moved on to do great things for GRC. So far, he's cut the annual budget in half with layoffs including the recent elimination of GRC staff in 3 global sites. Morale is in the toilet. Good people are leaving voluntarily, without being backfilled. With nothing being done to change that situation, it seems VA is fine with it.
VA sells the story that he turned around Renewables, and then Gas Power Systems. Both are now struggling, with numerous posts here blaming VA's cost-cutting and "arrogant" risk-taking for serious problems in the new gas turbine fleet.
Many wonder if GRC can survive VA, or if he will destroy it. Is Flannery paying attention?
I thought Vic Abate's plan was to "OWN" world market share for gas turbine sales. Now MHPS has taken the lead for the first time in gas turbine history.
One airline has a tie-up with a US manufacturer to develop short haul battery-powered aircraft engines. Had to come up somewhere. Adapt or die? Who knows.
GE Power will never rise from the ashes as long as we keep the current leadership that keeps burning us down. They are in it only for themselves.
At least Mitsubishi is running:
LAKE MARY, Fla.--(BUSINESS WIRE)--Thanks to power generator enthusiasm for Mitsubishi Hitachi Power Systems (MHPS) J-Series Advanced Class Gas Turbine and strong performance in the Americas, MHPS has achieved the number one market share globally among heavy duty (i.e. F-Class and advanced class) gas turbine OEMs in 2017.
For all those who are complaining about the HA, look at Semens and MHPS running with their tails between their legs, with similar or worse issues. GE will only rise from the ashes if we work together and stop the put-downs on our technology!
GE needs to sell a lot more to make up for the $31 Billion underfunded pension. It continues to be unethical for GE to keep avoiding this conversation.
there is no way these jokers will mess the dividend again....they will sell every division or cut every head to maintain the almighty dividend. Don't forget water is sold and now energy solutions ...plenty of cash in the short term coming. They might freeze the dividend ..that is a different story.
stock gonna blow WAYYYYYY under $20 when this mess results in not making the dividend. Wall Street gonna finally clue in that Alstom deal was biggest mistake since Edison picked up a Schenectady h--ker. Welcome to 273 - World's largest service shop! (or newest SuperFund site.....you decide).
I used to call GE the Gravy Train with biscuit wheels........party is over.
GE Power Greenville is rapidly deteriorating as leadership is clueless. Their talking points aren't working like they thought.
Yes, Vic was the one that pushed first fire while bypassing quality processes established by many decades of lessons learned. Now GE is relearning the same lessons of past failures. The loss of customer confidence is a cost that is difficult to measure. This is a real cost that will impact future sales. Quality continues to decline in Greenville as result of similar leadership decisions. We need leaders that actually know what a gas turbine is rather than bean counters that offer political talking points on a daily basis.
@PlpzPCx-3gnt you are precisely correct. However the push to deliver product and first fire ASAP was also a major issue.
Don't blame Vic for the problems, he was the reason you got the 7HA's out there in the first place. GT's always have problems. The difference is back in the old days you had people who could analyze and fix the problems. That is why customers pick GE over other suppliers. Those days are over my friend. You don't have people that can fix the problems, why because GE leadership does not value experienced people that know their sh_t. Look I can list out issues that will blow your mind or you can just join GE GT user groups and learn for yourself about all the issues GE engineers have fixed over the years on the F -class fleet. The name of the game is sell spare parts ..this is where GE Power makes money.
Gas Turbine failures are more serious than previously thought. Severe design flaws have resulted in serious combustion failures on multiple components and corrective action has yet to be confirmed. These problems are a direct result from Vic Abates mandates. Why are Power employees losing their jobs while he hides in a different GE division?
All of the comments on this thread are exactly correct. GE Leadership has wrecked a formerly good company. I don't expect a recovery as leadership continues to be parasitic. Parasitic leaders s--- the money at the expense and without benefit to the host. The host being the good employees and customers that have had ENOUGH!!!!!!!!!!!
This ship is sinking I'm afraid. Will it stay up?
The execs over promise and under deliver. Oh, sure, we can build you a time machine to transport you to 2001. The last 6 years is this, or more. Oh, we'll just engineer it while we install it! Excellent idea. Then the upper management is faced with a situation where it is SOLD. Now what? Oh, let's layoff some senior controls engineers to save money. And cut costs on production.
Result: Nobody can save GE's horrid mess in the energy sector.
Wow GE are in such a mess
Were they still making everyone sign that stupid "Spirit and Letter commitment" twice a year? So silly.
Lack of ethics indeed. What a disgrace.
In customer meetings they used to laugh and call us "Generally Expensive" and make fun of GE in general, but not the people, the company itself. management and execs who pushed through early shipments got their pay, their "atta boy", their gold star and took it to a different department. Due to the cycle they weren't around to have to take a defeat for pushing through without proper qual control. Sad.