Hints and tips:
...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....
...because the firms grow very fast under GE tutelage but also take on a great deal of new debt However, the paper by Paul Lavery of the University of Glasgow and William Megginson and Alina Munteanu of the...
...Culp became CEO of GE in October 2018 and at the time was given a four-year contract — the first GE chief to have an employment contract....
...Then, in January, as part of its plan to break itself up into three pieces and then to disappear as a conglomerate, GE spun-off 80.1 per cent of its healthcare division as GE HealthCare Technologies, Inc...
...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....
...William Cohan rightly questions generous retention bonuses for chief executives (On Wall Street, July 15)....
...British Land has appointed William Rucker as chair designate. He was most recently chair of Lazard in the UK....
...In short, Apollo does the kinds of things that GE Capital did once upon a time (before its demise) but without taking the existential risk of borrowing short and lending long....
...By the time Welch retired from GE in September 2001, GE Capital was contributing 40 per cent of GE’s earnings. That percentage would grow to 50 per cent under Welch’s chosen successor, Jeff Immelt....
...“Industrial America just abandoned these communities,” says Williams. But at the moment, its operation is limited in scale — it employs just 140 people....
...William D Cohan captures that drama exceptionally well in Power Failure....
...Ethan Wu The William Sharpe. Alex ScaggsI was . . . Yes, so the William Sharpe....
...Power Failure: The Rise and Fall of General Electricby William D Cohan, Allen Lane £35/Portfolio $40 William D Cohan goes deep into the root causes of the rise and recent extraordinary decline of GE, once...
...Peltz bought GE at about $25 per share and three years later the stake was worth about a quarter of that. Will Peltz’s fight at Disney end like at Heinz or GE?...
...It predicted that GE’s stock price would almost double by the end of 2017 as it pushed for cost reductions and share buybacks....
...This year’s corporate blockbusters include former winner William D Cohan, who took the prize in 2007 with The Last Tycoons, about Lazard Frères....
...He is said to be close to Putin, who opened GES-2 in December....
...But a year later, when GE performance was lagging, Peltz’s tone shifted....
...The GE book that Fred just mentioned, William Cohan’s Power Failure, is another large book that was on the long list of the prize this year....
...As part of the research for my forthcoming book about the rise and fall of GE, I spent many hours with Jack Welch, the company’s legendary chief executive, before he died in March 2020....
...We then learn that Jack Welch, GE’s legendary chief executive, believed he had made “a terrible mistake in choosing his successor”....
...The responses were similarly diverse, from Sherwin Williams, the paint company, buying a resin supplier to VF Corp chartering “full-sized jetliners” to secure supplies....
...Despite a $11.2bn sales backlog for its AS2 jet (including orders from NetJets and backing from Boeing and GE Aviation), it closed down its operations citing funding issues earlier this year....
...(To give you some context, that’s close to double what T Rowe Price’s William Stromberg, the industry’s third-highest earner, took home last year.)...
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