https://www.reuters.com/busine...ompanies-2021-11-09/

General Electric Co (GE.N) will split into three public companies as the storied U.S. industrial conglomerate seeks to simplify its business, pare down debt and breathe life into a battered share price, the company said on Tuesday.

The split marks the end of the 129-year-old conglomerate that was once the most valuable U.S. corporation and a global symbol of American business power.

The Boston-based company said the three businesses would focus on energy, healthcare and aviation.

GE will separate the healthcare company, in which it expects to retain a stake of 19.9%, in early 2023. It will combine GE Renewable Energy, GE Power and GE Digital and spin off the business in early 2024.

Following the split, it will become an aviation company, helmed by GE Chief Executive Larry Culp. The aviation company will inherit GE's other assets and liabilities, including its runoff insurance business.

A company spokesperson said brands and names of the spun-off units will be decided later.

It is the boldest attempt under Culp, who took GE's reins in 2018, to simplify the company's business.

In the past three years, Culp has focused on reducing debt by selling assets, and improving cash flows by streamlining operations and cutting overhead costs.

Culp's strategy is in stark contrast to the path GE pursued in the 1980s and 1990s under Jack Welch, who expanded the company into an industrial behemoth.

A founding member of the Dow Jones Industrial Average (.DJI) in 1896, GE spent more than a century in that storied stock index before getting the boot in 2018 following years of sliding valuation. It created the first electric cooking range and clothes washer, the first nuclear power plant, and supplied the U.S. space program. Its interests have spanned television, movies and insurance to lightbulbs and locomotives.

However, it has been facing investor skepticism about its ability to turn a corner since the 2008 financial crisis, while struggling with debt. The sagging fortunes prompted the company to fire Chief Executive John Flannery and hand over the reins to Culp.

And I got in at the end of the good years. GE is my biggest losers in my portfolio. Hope this turns things around.

Hmmmm, healthcare, energy and aviation. Anyone see the irony?

quote:

Originally posted by old rugged cross:
Hmmmm, healthcare, energy and aviation. Anyone see the irony?

No. What might that be?

I'd thought they'd already spun off GE Healthcare some years ago. ?

I picked up some shares this past February, looking at a almost 25% return. At that time I figured aviation had nowhere to go but up, along with energy and healthcare.

quote:

Originally posted by sns3guppy:

quote:

Originally posted by old rugged cross:
Hmmmm, healthcare, energy and aviation. Anyone see the irony?

No. What might that be?

I too am looking for this so called "irony".

quote:

Originally posted by sns3guppy:

quote:

Originally posted by old rugged cross:
Hmmmm, healthcare, energy and aviation. Anyone see the irony?

No. What might that be?

Hmmm, let's see....All three are Critical Industries, targeted by the current administration with crippling regulation and/or tyrannical mandates that are and will continue to have Devastating Impact of the Citizens of this Country and the Livelihoods of those Employed in those Industries, with a potential bonus impact of crippling those Industries, our Economy, and Society as a whole!

quote:

Originally posted by ugeesta:
And I got in at the end of the good years. GE is my biggest losers in my portfolio. Hope this turns things around.

Same here. In my case it's chump change, but it still annoys me greatly to see that negative red number next to GE in my stock portfolio. I've though many times about selling it just to be rid of it, but I might as well hold out now and see what develops from the spin-offs. One of my better scores was buying Chrysler years ago right before they spun off Ferrari. The RACE shares I got in that deal are up over 500 percent since being issued.

How about the direct connections to the Globalist agenda's like the massive green energy/climate faux, taking over and turning the entire healthcare industry on its head and then the takeover and regulation and mandates of the airline system for starters. Anyone recall the direct connection with iran that GE had?
And those are just the tip of the iceberg. But hey it is all good. Maybe their stock price will go up.
This ain't about washing machines boys and girls.

quote:

This ain't about washing machines boys and girls.

Good. Because if it were about appliances GE would've been dead and buried a long time ago.

I worked for the Mobile Radio Division in 1972 through 1974. They had great training programs so much so that people out of school would take a job with them for two or three years. Then they would leave for 1 1/2 to 2 times the pay.

The downside was the company politics and no merit promotion. We had a shortage of Application Engineers and couldn't bid on some jobs due to people leaving.

I have GE fridge and dishwasher. Both 40-41 years old and still going strong. Also have buried here somewhere a walkman type GE Cassette player AM-FM radio. It always played good. I think I will find it a see if it still works the same. Times have changed.

quote:

Originally posted by ugeesta:
And I got in at the end of the good years. GE is my biggest losers in my portfolio. Hope this turns things around.

Me too!! I have thought about unloading it many times, but didn't. Maybe it will turn around and be worth something before I die.

quote:

Originally posted by GT-40DOC:

quote:

Originally posted by ugeesta:
And I got in at the end of the good years. GE is my biggest losers in my portfolio. Hope this turns things around.

Me too!! I have thought about unloading it many times, but didn't. Maybe it will turn around and be worth something before I die.

.

Me three☹️! Although GE isn’t the biggest loser in my portfolio (see Deepwater Horizon). I was encouraged by GE’s recent reverse split; hopefully this latest news portends better days for the resulting new entities......

quote:

Originally posted by old rugged cross:
How about the direct connections to the Globalist agenda's like the massive green energy/climate faux, taking over and turning the entire healthcare industry on its head and then the takeover and regulation and mandates of the airline system for starters. Anyone recall the direct connection with iran that GE had?
And those are just the tip of the iceberg. But hey it is all good. Maybe their stock price will go up.
This ain't about washing machines boys and girls.

Oh. Imaginary conspiracy bullshit.

Still don't see the real irony.

GE does a bit more than washing machines. A heavy presence in the military scene, GE powers a great deal of what you ride on when you fly. It powers what I fly, and the last aircraft I flew, too. GE powers ships, locamotives, and provides turbines and generators for hydroelectric power. GE produces power, uses power, makes energy, consumes it, and powers a great deal of what moves around the world, military and civil. So a bit more than washing machines.

Software, Robotics, quantum computing, space technology propulsion, yada, yada, yada. And washinging machines.

You are so predictable.
Hard to do all that important stuff you do with your head buried in sand, aye!

This message has been edited. Last edited by: old rugged cross,

Okay, brightspark. It's all about washing machines.

Don't forget the toasters. Maybe it's some kind of toaster conspiracy. You think?

Who is getting the nukes?

quote:

Originally posted by nhracecraft:

Hmmm, let's see....All three are Critical Industries, targeted by the current administration with crippling regulation and/or tyrannical mandates that are and will continue to have Devastating Impact of the Citizens of this Country and the Livelihoods of those Employed in those Industries, with a potential bonus impact of crippling those Industries, our Economy, and Society as a whole!

What are all those capital letters? Is it a code or a hidden message?