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General Electric's new CEO could rake in $300 million -- if he can turn GE aroundCNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Source: CNN - 🏆 4. / 95 Read more »
General Electric replaces CEO with outsider, shares soarGeneral Electric Co ousted Chief Executive Officer John Flannery in a surprise m... TV 😂 TV TV John inherited the work of Jeff immelt it will be interesting to see how Larry transform this conglomerate around if it’s possible within less than 14 months. John was a good guy!
Source: Reuters - 🏆 2. / 97 Read more »
Culp will have to move quickly to combat 'unsettling' change at GE, says former GE executiveGeneral Electric's new CEO, Lawrence Culp, will have to move quickly to turn things around amid 'unsettling' change at the company, says former GE executive Bob Nardelli.
Source: CNBC - 🏆 12. / 72 Read more »
S&P downgrades debt-riddled GE and GE CapitalNew General Electric boss Larry Culp just got a fresh reminder of the debt-riddled balance sheet he's inheriting.
Source: CNN - 🏆 4. / 95 Read more »
GE and Baker Hughes amend agreements, including reduced BHGE payments to GE over timeBaker Hughes, a GE company and General Electric Co. announced Tuesday a number of long-term agreements, including a reduction in Baker Hughes payments to GE, a collaboration on critical rotating equipment and creating a joint venture to provide aeroderivative engine services. GE's stock rallied 1.6% in premarket trade, after tumbling 12% the past two sessions to close Monday at a 9 1/2-year low. Baker Hughes shares dropped 2.7% premarket after falling 12% the previous two sessions. The rotating equipment deal will include aeroderivative and heavy-duty gas turbine technology, while the JV will serve the oil and gas and industrial markets. GE has recently had issues with an H-frame gas turbine blade, which forced a shutdown of an Exelon Corp. facility. Separately, Baker Hughes will have access to GE Digital software and technology, the companies have agreed to maintain current operations and pricing levels within Baker Hughes' Control product line, GE will transfer certain U.K. pension liabilities to Baker Hughes, and the intercompany services fee that Baker Hughes pays to GE will be reduced over time beginning next year. GE's stock has plunged 36% over the past three months through Monday and Baker Hughes shares have tumbled 31%, while the S&P 500 has lost 3.4%.
Source: MarketWatch - 🏆 3. / 97 Read more »
GE's stock soars after CEO Flannery replaced, to take a near $23 billion impairment chargeShares of General Electric Co. |phrase background-info='BRIEFING-BOOK' name='ge' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|ge'||/phrase| jumped 8% in premarket trade Monday, after the industrial conglomerate said its chief executive officer, John Flannery, was being replaced after a little over a year in the role. Flannery became CEO in June 2017. The company names H. Lawrence Culp Jr. as CEO and and chairman, effective immediately. Culp had been CEO of Danaher Corp. from 2000 to 2014. GE also named Thomas Horton, who was CEO of American Airlines from 2011 to 2013 as lead director. The company said because of weaker performance of its GE Power business, it will fall short of 2018 free cash flow and eanrings per share guidance, and expects to take a non-cash goodwill impairment charge of close to $23 billion. The stock has tumbled 53.3% over the past 12 months through Friday, while the Dow Jones Industrial Average |phrase background-info='BRIEFING-BOOK' name='djia' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|djia'||/phrase| has rallied 18.1% Thank you for selling me your shares on Friday, whoever you are! Made 10% over a weekend. F ya! blockchain protection for your files or intellectual property with DeepOnionX DeepOnion $ONION DeepOnionx
Source: MarketWatch - 🏆 3. / 97 Read more »
GE unexpectedly removes its CEOGeneral Electric, mired in a deep slump, has ousted CEO John Flannery after barely a year on the job. Reporting on something other than Trump? I’m baffled Wow! The giant has been poked in the eye by Jack of beanstalk fame and is reeling like a lumbering idiot. ขายบ้านมือสองครับวางเงินมัดจำเรียบร้อยหลังนี้ขาย1.8ล้าน
Source: cnnbrk - 🏆 393. / 55 Read more »
GE's Flannery steps down as CEO, shares jump 15 percentGeneral Electric Co Chief Executive Officer John Flannery abruptly stepped down ... ABFalecbaldwin still interested? 30Rock What happened to established 5 years process of picking a CEO at GE? I suspect the selection committee is a generation behind the digital age. Analog CEO will never work in this digital age.
Source: Reuters - 🏆 2. / 97 Read more »