Tuesday, June 26, 2018

Jeff Immelt and Dave Scott

GE is going to get rid of GE Medical and Baker, Hughes, too.

General Electric Co. plans to spin off its health-care business and divest its stake in oilfield-services provider Baker Hughes...

80% of Medical will go to shareholders.  GE will sell off the other 20%.

...The moves continue a radical reshaping of GE, which bears little resemblance to the conglomerate that used to count NBC, home-appliances, plastics and a sprawling finance unit among its business holdings. In recent years, former CEO Jeffrey Immelt sold most of GE’s banking and consumer operations, while Flannery has already agreed to unload the century-old locomotive operations....

It has been said that Immelt, GE's last CEO, was far too compliant with Obama's Government and far too little focused on continuing GE's success.

Gee.  Anyone remember Allis-Chalmers' enormous spend trying to please Jimmy Carter by making natural gas out of coal?  (That was Dave Scott's idea of 'smart.')

No?  Then try this:  Anyone remember Allis-Chalmers?

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