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...GE and 3M completed spin-offs of non-core units this week, marking the end of an era for two conglomerates that were once among the most overt representations of US corporate might. 3M on Monday completed...
...Once a symbol of US corporate might, GE’s influence and its valuation have declined for more than a decade....
...GE completed its long-awaited plan to break into three, with shares in each of the entities closing lower as the once-mighty US conglomerate drew the curtain on more than a century of corporate history....
...Share moves to note on the New York Stock Exchange after a busy morning of corporate earnings include GE Aerospace, Kimberly-Clark and JetBlue: GE Aerospace: shares rose 4.5 per cent after the company,...
...Former GE chief executive Jeff Immelt invited Peltz to buy stock in GE after Immelt announced his decision, in 2015, to get rid of GE Capital....
...The company has restructured the business, reducing its number of sites, while also investing in new initiatives, including in its engines business which makes components for, among others, GE Aerospace...
...Boeing last year abolished its corporate strategy department, leaving it to individual divisions, Aboulafia pointed out....
...By the time GE broke itself up 20 years later, Welch’s model and his anointed successor had been thoroughly discredited....
...“I regret buying GE . . . I was lied to . . . the numbers weren’t real,” says Peltz. In 2020 GE agreed to pay the US regulator $200mn for disclosure violations....
...None of the boards has satisfactorily explained its logic, beyond the usual corporate drivel....
...Here’s what else I’m keeping tabs on today: Results: Eli Lilly, the maker of weight loss drug Mounjaro, reports this morning alongside KKR, Spotify, GE Healthcare and Hertz....
...Note that GE has just reported an almost 30 per cent increase in its aerospace revenues in the first half of the year. More planes flying means more cash coming in....
...In the current narrative, Zaslav appears to be the ham-fisted corporate villain....
...CAF Bank, whose directors include former executives from Lloyds, Santander, GE Capital, HSBC and Barclays, plans to hold the bonds to maturity “in all but the most extreme scenarios”, it said in its annual...
...The other sizeable “Polish” corporates are also state-run — mainly utilities and old economy entities....
...The former GE executive has overseen the Max’s return to service, which US aviation regulators approved in November 2020....
...The former GE executive had been a Boeing board member since 2009. He promised to rebuild trust with regulators, airlines and the flying public, and to bring in greater transparency....
...He passed a big tax cut that cheered corporate America but on the trade front there was huge upheaval: he forced a high-stakes renegotiation of Nafta with Canada and Mexico, then launched tariff wars with...
...And a lot of people blame share buybacks for one of the reasons GE is no longer the great, enormous company it once was. Michela TinderaYeah....
...And he’d say, here’s some GE and some Ford; now go play golf. I don’t know if this is true, but it feels true. Alex Scaggs Exactly....
...His motivation included a powerful urge to eliminate the competition, which proved to be an enduring feature of GE’s corporate culture....
...Yet I find the unprecedented levels of corporate Greedflation in this economic cycle astonishing....
...GE announced this month that its energy business would be rebranded as GE Vernova when it goes public in 2024, its healthcare business would be spun off early next year with the name GE HealthCare and Culp...
...Boston-based group has pursued a restructuring path that led to a break-up that highlights how the conglomerate business model has fallen out of favour, with greater focus now on smaller, more efficient corporate...
...For example, in 2008 when Goldman Sachs and GE needed capital infusions, he stepped in on very favourable terms but passed on Lehman and AIG as saw too many red flags....
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