GE oil and gas overpaid for all their equipment, turbo machinery, pump jacks, etc which was a financial boat anchor to GE so they bought BHI and threw the boat anchor at them.
Then they stole the 3 billion cash BHI had and now the boat anchor companies are causing bhge to lose money when slb and hal are making money. While we are losing money, Lorenzo invites 1200 clients to come eat pasta with momma in Florence Italy at the annual meeting.
The boat anchor companies revenue are down 75% with huge losses. BHI would turn a profit without this boat anchor, instead we have to layoff people to make for the losses from Ge oil and gas.
I don’t see a future at bhge. The millennials will jump ship now that competitor are hiring. The bhge boat is sinking because the boat anchor companies have created a hole in the boat that can’t be fixed.
Thanks GE for ruining a very good company.