Looks like after 4 months of marriage GE realised that BHI is not a good fit. Was GE going ‘’blind’’ to get in such a mess ???. Some of the discussions on this website are like between kids but unfortunately some of them are very true about Aberdeen. There is a very ugly problem, looks like some of the managers in charge they are not working for BH but for any another company other than BH. They are not loyal to the company and don’t have any drive or motivation to win, or to be more competitive. About their competence or incompetence, obviously that some of them are still in the company based on who they know not what they know. Not very sure if GE board or their advisers/consultants have done any research to see what they are buying. You could see easily all of this before ‘’ drawing the line’’.
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UK pension fund will hgo the same way as BHS. BHGE pension holders will be forced yo take a haircut on payouts due yo underfunding of scheme.
What's happening on the East Coast of Canada? Heard pretty big layoff
You can all thank Craighead. BH was run right into the ground when he was made CEO.
In light of the recent return to the BHI benefits less the pension freeze, it is obvious that we are not going to ever be a ge company.
GE just spun off their GE oil and Gas assets at full price to Baker Hughes shareholders who have lost close to 50% of their investment.
The promise of GE store, Predix, the whole GE digital Service Master was all BS to make the BHI employee feel like we were getting something out of the purchase when, in fact, we were getting screwed the whole time.
The alternative dispute resolution, binding arbitration crap, is a way to stop class action lawsuit because of the financial screwing GE is putting on the BHI employees. It’s billions of dollars that they can’t be sued for.
Lorenzo is just a 44 year old GE puppet. He grew up in that environment and he will do what they tell him to do. The corporate speak that comes from his mouth is all BS.
The only thing that can save the BHI employees is a labor union, I am against labor unions, but in a case like this where the class action status was taken away by GE, the only way to fight them is as a grouped labor union.
Good luck to everyone
BH got an easy $3.5b from HAL but GE nicked it all from under their nose. Oops 😎😎😎
BH got screwed 😂😂
GE oil and gas was unsellable as a package so they bought BHI for a song with 4 billion cash on the books.
Stock buyback was a way to transfer the money back to GE. 2/3 of buyback money goes back to GE. By overvaluing the GE oil and gas assets GE gets a return on the poor investments.
Next bhge will leverage the company by borrowing money and more stock buybacks will be announced which will in turn return more money to GE.
GE will then sell out their BHGE shares to some hedge fund who will force appointments to the board.
BHGE will then sell off valuable pieces to HAL or some other service company.
Bhge ends up never being able to turn a profit because of interest and goodwill.
GE divested their oil and gas business to Baker Hughes,
Where are the new bhge signs?
Heartless
4acl - losers like u go cry somewhere else
Anything that was good has gone. ..the roses have withered up a died. ..you are just messing with the thorns.
If you want to stay ...enjoy it ...you may as well as when the hatchet drops it will give you some dark days as it is nae bonnie outside.
If you want to go ..I am sure your boss will say thank you as they kiss your as@ goodbye.
There are thousands of good honest ex BH workers still unemployed who would be happy to be still in work.
J
Bore .com
How come stoneywood is a laughing stock? 😂😂
Don't be confused, it's not a GE - BHI divorce. Rather it is a GE - BHGE divorce.
There is not enough demand in the market for too many suppliers. As there is an imbalance between demand and supplier, here is where all the problems starts.
Don’t blame Aberdeen you knob scoffer. And this crap you don’t have a Pension rubbish uk law states company’s must provide a Pension. So if you work outside the uk. Then it’s up to you to get your own Pension
To be more troubles in the same place, GE Oil &Gas is moving out of Silverburn House to Baker Hughes site in Stoneywood.
What the heII became of the 3.5 Bill from your benevolent uncle HAL? Where did it go?
Need someone to get off their backside and sort this mess. Where the leadership in this shambles.
If the BH managers in Aberdeen did their job properly we would still have a pension.