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Something has gone very wrong at the GE board. They invested $10B+ in 2015 in the power business, which they now axe. They just took over Baker Hughes (last Jun
by sharpercoder 9y ago
Something has gone very wrong at the GE board. They invested $10B+ in 2015 in the power business, which they now axe. They just took over Baker Hughes (last June), which they now want to get rid of.
- cylinder 9y agoAmerican culture. No long term planning or commitment. People are disposable. Following the latest fad, always.
- iamthirsty 9y agoI don't think it has anything to do specifically with "American culture". Plenty of American companies have long term planning and commitment.
- revelation 9y agoIt's the power business, where every purchase is planned 30 years in advance. To cut 12000 jobs there is just gross mismanagement.
- MaysonL 9y agoWas any of the solar and wind power currently being installed planned even 10 years ago? I doubt it: fossil and nuclear installations planned have been going down for quite a while.
- PoachedSausage 9y agoOne of the UK sites that may shut in Stafford makes giant power grid transformers, you order those well in advance. I don't see how renewables are to blame, offshore wind still needs a grid connection and large substation transformers.
- jfnixon 9y agoBaker Hughes is in the oil services business, a separate GE business unit from Power.