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I have always felt GE was to big to fail. It had so many divisions that really produced so many great things in its time.
Will they go the route of Sears, Kodak, Polaroid and others have, not sure but it seems to be leaning that way.
As I have said in other posts, when will the live for today's rewards rather than positioning for the future thinking by these so called industry leaders be erased from corporate play books?
I always refer to Blockbuster and their blind eye to Netflix........can't imagine not one soul at BB saw that coming. Same with Sears, it could have been saved early on if not for Lambert playing the role of corporate raider.
If GE hits $6 a share I might pick up a hundred shares for the twins. I think that would be a better bet than Vegas
We did the same with AirTran and BOA. To me controlled turmoil and disaster is the best time to gamble a few dollars on a hundred shares and let it ride.
Sears dug their own grave the minute somebody there decided not to put their catalog on the internet. That's the kind of thing that these rich executives are paid to get right -- and they blew it. Sears is certainly getting what they deserve. As for GE I'm staying far, far away. I've got enough troubles with AT&T right now.
Sears dug their own grave the minute somebody there decided not to put their catalog on the internet. That's the kind of thing that these rich executives are paid to get right -- and they blew it. Sears is certainly getting what they deserve. As for GE I'm staying far, far away. I've got enough troubles with AT&T right now.
I retired from GE Aviation last year after 39 years. Aviation is their crowning jewel.
What used to be a well managed and run business is now in crisis mode. The labor contracts used to be looked forward to as the union negotiated fair contracts that benefited their employees. Now, every negotiation is filled with dread as they have done nothing but take away pay and benefits so those at the top and shareholders can still get theirs. Where engineers used to beg to come to our plant, now they send out recruiters to schools to con them into coming. The smart and capable ones don't last long and move on quickly. Our business is not one you hire new people and immediately get them up to speed. It's complex and many jobs take years to know what you're doing. Our plant demographics have a huge number of retirees over the next 5 to 10 years. Highly skilled people leave without training anyone to replace them. the starting wage dropped to the point that their hiring pool shrunk as well, leaving them to hire people they normally wouldn't even consider. What used to be a plant with direction and focus is now chaotic with a lack of leadership. Much like Immelt, the last 2 plant managers were yanked for performance issues.
Talking to contacts at other plants, ours was not unique. When I retired, I was glad to go. The pride I had in my job was long gone. doing the right thing was replaced by getting it done. Those left that I respect all have countdown calendars to retirement dates. It's sad.
Culp may get his numbers, but unless he fixes the attitude and culture of GE, it's only numbers. I wouldn't touch it with a ten foot pole.
The various parts of our bodies are worth more then some ..but in the end it don’t help
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