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[vogue65]

GE is getting beat up by the street but it is still a technical powerhouse. I know Flannery and have met Culp. And both have endorsed the projects we are partnered with GE on to change the face of clean, renewable energy. We are doing line stabilization in China, micro grids in the developing world, on-board hydrogen generation for a new series of lean burn recip engines, solar in SE Asia and the Middle East, and launching high temperature zero emission waste to energy systems that are putting an end to landfilling.

Here's the bottom line: our capital partners on these projects include the Carlyle Group, the Silk Road Fund, Man Group, HMI, and Landsdowne. These are sophisticated hedge fund operators who have placed large bets on these projects and GE's ability to pull them off through exquisite technology.

I am guessing these hedge fund managers know more about what GE is doing than a guy who spends way too much time shouting into the dark night of an insignificant outpost of the web's fringe? Perhaps the malodorous stench of Gatsby-level insecurity suggests you need to slap on some Old Spice?

Great promo for GE stock, I owne way too much, I also owne PEP, nice to see MU represented in those great companies.
 
The blessed hedge fund guys drive down the price, buy more stock, drive up the price and make a killing.  One does not need a big name MBA to understand the game.

The public is not only politically gullible, they are especially economically gullible as well.

I flew back from MXP Wednesday and enjoyed my flight with those big a$$  GE turbines humming along.

Being off line, jet lag etc., I just re-read this string, very interesting perspective.  We got off course regarding the original question from a young person starting out.  Nevertheless, for those paying attention, some very good points were made about playing the corporate game in later career situations. 

My first job was with 3M, then Union Carbide, then small business, followed by government service.  One of my lessons learned was that once you leave the corporate track there is no going back.  I am a big fan of experience, no regrets. 

I have always taken the high road, when unhappy, get another job, period.  The big boys don't play games, it's hardball, but professional.  From my experiences, it's not only those in strategic planning who are asked to pack their bags immediately when leaving. 

[Babybluejeans]

GE is getting beat up by the street but it is still a technical powerhouse. I know Flannery and have met Culp. And both have endorsed the projects we are partnered with GE on to change the face of clean, renewable energy. We are doing line stabilization in China, micro grids in the developing world, on-board hydrogen generation for a new series of lean burn recip engines, solar in SE Asia and the Middle East, and launching high temperature zero emission waste to energy systems that are putting an end to landfilling.

Here's the bottom line: our capital partners on these projects include the Carlyle Group, the Silk Road Fund, Man Group, HMI, and Landsdowne. These are sophisticated hedge fund operators who have placed large bets on these projects and GE's ability to pull them off through exquisite technology.

I am guessing these hedge fund managers know more about what GE is doing than a guy who spends way too much time shouting into the dark night of an insignificant outpost of the web's fringe? Perhaps the malodorous stench of Gatsby-level insecurity suggests you need to slap on some Old Spice?

This reminds me why, despite their mewling, we never let G'town Prep kids into our parties in high school—all try-hard, no chill.

[reinko]

This reminds me why, despite their mewling, we never let G'town Prep kids into our parties in high school—all try-hard, no chill.

Zactly, especially PJ &  Squi

[Benny B]

GE is getting beat up by the street but it is still a technical powerhouse. I know Flannery and have met Culp. And both have endorsed the projects we are partnered with GE on to change the face of clean, renewable energy. We are doing line stabilization in China, micro grids in the developing world, on-board hydrogen generation for a new series of lean burn recip engines, solar in SE Asia and the Middle East, and launching high temperature zero emission waste to energy systems that are putting an end to landfilling.

Here's the bottom line: our capital partners on these projects include the Carlyle Group, the Silk Road Fund, Man Group, HMI, and Landsdowne. These are sophisticated hedge fund operators who have placed large bets on these projects and GE's ability to pull them off through exquisite technology.

I am guessing these hedge fund managers know more about what GE is doing than a guy who spends way too much time shouting into the dark night of an insignificant outpost of the web's fringe? Perhaps the malodorous stench of Gatsby-level insecurity suggests you need to slap on some Old Spice?

GE isn't getting slammed by the street because it doesn't know what it's doing.  GE is getting slammed because it doesn't know what it's liabilities are (i.e. long term care).

[vogue65]

GE isn't getting slammed by the street because it doesn't know what it's doing.  GE is getting slammed because it doesn't know what it's liabilities are (i.e. long term care).

If that were the case then every legacy corporation in America would be getting "slammed".  PRB's (Post Retirement Benefits) and pensions are always important, but PRB's are not protected by ERISA, therefore, they can be off loaded at any time.

This will probably be  the next move by corporate America.  We have had the virtual elimination of defined benefit plans, low wages that result in workers unable to contribute adequately to 401(k) plans, and the creations of various health care schemes. 

At GE in particular, the issue is the insurance sector, the get rich quick lunacy of Mr. Welch, the former fair haired boy of the street.

U.S. Steel was way ahead of G.E. in deindustrializing America.  When they went into "finance", leasing, and became USX it was over for American manufacturing.

One by one workers benefits have been taken and like the frog in the boiling water, the workers, media, and unions said nothing and went along with the plan.

Now we have the retired lives vs. the active folks, a civil war among the workers who, for the most part, have no idea about PRB's. 

I'll let it go at that, no need to get ideological.

[Benny B]

If that were the case then every legacy corporation in America would be getting "slammed".  PRB's (Post Retirement Benefits) and pensions are always important, but PRB's are not protected by ERISA, therefore, they can be off loaded at any time.

This will probably be  the next move by corporate America.  We have had the virtual elimination of defined benefit plans, low wages that result in workers unable to contribute adequately to 401(k) plans, and the creations of various health care schemes. 

At GE in particular, the issue is the insurance sector, the get rich quick lunacy of Mr. Welch, the former fair haired boy of the street.

U.S. Steel was way ahead of G.E. in deindustrializing America.  When they went into "finance", leasing, and became USX it was over for American manufacturing.

One by one workers benefits have been taken and like the frog in the boiling water, the workers, media, and unions said nothing and went along with the plan.

Now we have the retired lives vs. the active folks, a civil war among the workers who, for the most part, have no idea about PRB's. 

I'll let it go at that, no need to get ideological.

smh.   

The long-term care liability issue that's dumbing down GE is in the contracts that were sold to consumers, not from benefits for their own employees.

[reinko]

Unless I missed it, Unleash, what's going on?  Ya crowdsource advice, and leave us hangin'

[ZiggysFryBoy]

Unless I missed it, Unleash, what's going on?  Ya crowdsource advice, and leave us hangin'

Hes the new CEO of GE.

[GGGG]

His old firm stuffed him into a trunk and shipped him to the Amazon.

[cheebs09]

His old firm stuffed him into a trunk and shipped him to the Amazon.

Should this be merged with the Bezos thread?

[Herman Cain]

I have a buddy from my F 16 days who got an MBA from UVA and worked for Georgia-Pacific where he was moving fast.

He is black, an Air Force Academy grad fighter pilot with an MBA from Darden so he was bombarded with calls from Spencer Stuart, Korn Ferry, et al...

He rarely investigated offers but was recruited by Staples at the time of the proposed merger with Office Depot. It was a great role but he went back to Georgia-Pacific for a counter.

They did counter but his career decelerated noticeably. He ended up leaving for Whirlpool 4 years later. When he told G-P he was leaving they made his departure immediate.

Is his experience indicative? I'm not sure but it is a definite risk with getting a counter. He went from HiPo to also ran pretty quickly.

Question, aside from being a good military guy, was your friend actually good at business? Or do you think he comfortably filled a quota?

[vogue65]

smh.   

The long-term care liability issue that's dumbing down GE is in the contracts that were sold to consumers, not from benefits for their own employees.

Thank you for the for the clarification, alzheimers..

[#UnleashSean]

Update on my job, after talking with my supervisor they offered to promote me to the position offered by the new company, but without a pay raise. They said that since I had recently received a raise it would be very poor practice to give me another one. So I gave a nice chuckle and said what equals no dice and accepted the job offer from the other company within the hour.

Thanks for all the help you wise old scoopers.

[4everwarriors]

Smart move. Sho me da money, honey, hey?

[#UnleashSean]

[Herman Cain]

Update on my job, after talking with my supervisor they offered to promote me to the position offered by the new company, but without a pay raise. They said that since I had recently received a raise it would be very poor practice to give me another one. So I gave a nice chuckle and said what equals no dice and accepted the job offer from the other company within the hour.

Thanks for all the help you wise old scoopers.

Keep working hard and showing up on time.

[GGGG]

Update on my job, after talking with my supervisor they offered to promote me to the position offered by the new company, but without a pay raise. They said that since I had recently received a raise it would be very poor practice to give me another one. So I gave a nice chuckle and said what equals no dice and accepted the job offer from the other company within the hour.

Thanks for all the help you wise old scoopers.

Very smart.  Zero reason to not give you more $$$ with the promotion. 

[rocket surgeon]

         we will make you the vp of all the other vp's 🤔 🤷🏼‍♂️ 🤯🤯🤯

[Babybluejeans]

Update on my job, after talking with my supervisor they offered to promote me to the position offered by the new company, but without a pay raise. They said that since I had recently received a raise it would be very poor practice to give me another one. So I gave a nice chuckle and said what equals no dice and accepted the job offer from the other company within the hour.

Thanks for all the help you wise old scoopers.

Congratulations. I was in the camp that thought you should do precisely what you did. But I sure hope you didn't actually chuckle and say no dice. Make sure when you leave any job, you do so humbly and with gratitude to the company. Even a job you dislike. You just can't overestimate how important those relationships wind up being down the line. 

[#UnleashSean]

Congratulations. I was in the camp that thought you should do precisely what you did. But I sure hope you didn't actually chuckle and say no dice. Make sure when you leave any job, you do so humbly and with gratitude to the company. Even a job you dislike. You just can't overestimate how important those relationships wind up being down the line.

I did let out a little chuckle. I also meant to say that I said something that would boil down to "no dice" Not actually saying no dice

[jsglow]

Shake the hand of your old boss as you leave.  Good luck in your new assignment and congratulations.

[JWags85]

I quit my last two jobs to accept positions that were step ups in role and pay. Neither time did I attempt to go back to the current supervisor and renegotiate; however, both times I felt a bit bad due to the timing. One was shortly after we signed a big new project and were bringing on new staff. And the most recent happened barely a month after my supervisor came back from maternity leave.

I typed out my notice, spoke respectfully and volunteered as much about the new roles as I wanted to. Both of them took it fantastically. One actually knew my future boss from a previous role and gave me advice and the maternity leave situation took me to dinner as a congrats and checks in from time to time despite me leaving that industry entirely.

TL/DR, leaving respectfully and professionally is always appreciated and usually means a good response

[theBabyDavid]

GE isn't getting slammed by the street because it doesn't know what it's doing.  GE is getting slammed because it doesn't know what it's liabilities are (i.e. long term care).

Benny,

You are somewhat correct. GE has a problem with unsecured liabilities. You misstated the issue - GE knows what its liabilities are. It has yet to define a strategy for dealing with them. But the real issue at GE is withy strategy.

Under Immelt (who was a master politician) GE's strategy for addressing the unbuckling of Cap (which drove earnings) was Mergers, Acquisitions, and Divestitures (MAD). The problem with that is, without a clear unambiguous linkage with customer equity, it merely muddies the water without actually giving the Street an articulated vision for the future.

Immelt's last years were characterized by stupid M&A (Alstom, Baker Hughes, etc...) and divestiture of core businesses (Healthcare, in particular.) MAD is a mechanism for executing a strategy; under Immelt, then Flannery, MAD proxied as the strategy.

I work very closely with GE Power and Renewable Energy. We are developing and launching remarkable technology that is making the generation and transmission of power cleaner, cheaper, and more accesible.

I laugh when I read how journalists predict the demise of Power. In fact, GE's strength is the pipeline of technology which will reshape the energy landscape. We play a small role in that but we are involved in several high profile projects on four continents - two should be announced shortly after the New Year.       

The issue with GE isn't within GE Power or Renewable Energy. The problem is activist hedge fund managers who can't possibly comprehend the underlying technology combined with CEOs afraid to make a decision - that's you Jeff Immelt and John Flannery.

GE needs to define a clear strategy for the Street. In the meantime, the engineers doing the heavy lifting in the labs are doing great work.

[theBabyDavid]

This reminds me why, despite their mewling, we never let G'town Prep kids into our parties in high school—all try-hard, no chill.

Yea, some people peaked in high school and even then it wasn't very impressive.

28% of Georgetown Prep students get into Ivy League schools straight away. More than 50% of grads attend Ivies for either undergrad or grad school. 

[theBabyDavid]

Question, aside from being a good military guy, was your friend actually good at business? Or do you think he comfortably filled a quota?

I think my buddy, call sign Night Fighter, is an exceptional talent in many ways. I do think his Achille's Heel is that he can overestimate his value and play the prima donna.

Night Fighter will be the first to tell you that he has had doors opened for him because, as an accomplished black male, he is decidedly a valuable commodity. From high school onward he has had advantages in opportunity because of his race. But I can also say that in every test - being graduated from the Academy in the upper 10%, learning to fly the F 15, earning an MBA at UVA - he more than met the test.

I think he learned from his negative experience at GP. Today, Night Fighter is the Chief Human Resource Officer for a Fortune 100 company. I have to believe he earned the keys to the Executive Latrine.