So what's going on at General Electric, one of the original Dow Jones Industries from back in the 1800s when the stock market was formed. Now that GE has been booted from the Dow, what's next under Flannery?
Will they shed the 'transportation' division? Unlikely, becaue they'ere still selling big road power as usual. Besides, they couldn't find a buyer who wanted to build locomoteves, including Canada, or Mexico.
Can it get any worse for GE? Probably. But we'll still be baffled by more, not less what the board decides what's best to save what's left after all the cuts to come. Will GE, one of the original and founding members of the Dow-Jones industrials last another year? Hard to say, but it can't continue this way...
The new GE still faces many old problems
by Matt Egan and Danielle Wiener-Bronner @CNNMoneyInvest July 15, 2018: 7:23 AM ET
Breaking down GE's breakup
1. Power problems: General Electric has embarked on a sweeping makeover aimed at returning the iconic company to greatness.
Fresh evidence of GE's power problems will get revealed on Friday, when the recently ousted member of the Dow reports earnings. Expectations are low: GE has lost one-fifth of its value this year, on the heels of a crash of nearly 50% last year.
GE Power, which makes and services gas and steam turbines, has been crushed by the rapid rise of renewable energy. Orders and prices for fossil fuel equipment have plunged, forcing GE to lay off 12,000 workers.
Cowen & Co. analyst Gautam Khanna predicted that GE will disclose a 65% plunge in earnings from power. The company's renewable energy division, which isn't being sold off, is too small to make a dent in the overall bottom line.
"Power remains challenged (to put it mildly), with little hope of a near-term recovery," Deutsche Bank analyst Nicole DeBlase wrote to clients last week.
That's a problem because GE Power isn't going anywhere. It'll remain the largest division by revenue after GE completes its transformation. And troubles at GE Power will no longer be masked by strength from one of the company's crown jewels: the health care juggernaut that is being spun off.
"GE's recently announced break-up places a ceiling on the stock until the power segment's turnaround effort gains more traction," Khanna wrote.
The bright spot at GE is undoubtedly its soaring aviation business, which makes and services jet engines. Sales are expected to rise, driven by strong orders for GE's LEAP engine.
The biggest mystery surrounds GE Capital, the financial arm that nearly destroyed the company a decade ago.
GE Capital shocked Wall Street in January by disclosing a $6.2 billion loss in the long-term care insurance business. The news caught regulators off guard as well, prompting an SEC investigation. Now Flannery is trying to get rid of the troubled insurance portfolio as well.
GE could also offer more details about the federal investigation into WMC, its subprime mortgage unit. GE has set aside $1.5 billion to cover potential losses and it recently warned it could put WMC into bankruptcy.
Will more shoes drop at GE?
-- Edited by Uke on Sunday 15th of July 2018 03:28:06 PM
The Krink said
12:06 AM, 07/16/18
My only complaint is the newer GE locomotives "don't make enough noise". Its really
hard to tell they are in 8th notch by the noise. No "throbbing" sounds.
Snippy said
2:50 AM, 07/16/18
And, soon! The newest GE locomotives won't be GE locomotives.
wes said
2:15 PM, 07/16/18
Sad sad--Apprentice tng at GE loco div saved me from a life of stealing hub caps.
Excuse my typing--just had cataract surgery.
Short range planning will always show up over time.
Don't know about l t care, but making bad loans will kill you.
Want to write more, but am seeing double
best, Wes---------------out
Freddie Krueger said
6:46 PM, 07/16/18
Nice to hear from you wes...
wes said
8:21 AM, 07/17/18
Great to see today.
GE leasing engines---IBM made a fortune
leasing big blue computers??????????
wes----------------out
Snippy said
11:43 AM, 07/17/18
wes wrote:
Great to see today.
Great tu hear you see today, wes.
Uke said
2:05 PM, 09/19/18
Up to the minute GE nooz as of today:
GE Transportation locomotives approved for operation by Indian Railways
2:00 am ET September 19, 2018(BusinessWire)Print
--Locomotives to upgrade India's rail infrastructure and support its growing economy
--GE Transportation's plant in Marhowra, India, to start production in fourth quarter
GE Transportation (NYSE:GE) announced today at InnoTrans 2018 that Indian Railways has confirmed its acceptance of GE's 4,500-horsepower diesel-electric Evolution Series prototype locomotive. This critical milestone was achieved following the successful completion of rigorous testing on Indian Railways' tracks following the locomotive handover in February 2018.
"The acceptance of these locomotives is a testament to GE's engineering depth and understanding of the customer requirements," said Nalin Jain, President and CEO-APAC, GE Transportation. "This is a major step towards fulfilling our contract with Indian Railways. Together we will help modernize Indian Railways' fleet, significantly upgrade India's rail infrastructure and provide critical support for India's growing economy."
A standard practice, the acceptance of the 4500hp locomotives came aftermonths of reviewing key design aspects, documentation and a thorough validation around various parameters in the U.S. and India. The locomotives also completed additional reviews, including oscillation trialsand rating and performance tests.
The new units feature an Evolution Series engine and an electronic fuel-injection system for improved fuel efficiency, as well as compliance with international emission standard UIC1. The individual axle-control AC propulsion technology will improve hauling capability and decrease life-cycle cost. The locomotives also are digitally enabled for predictive analytics to increase reliability and availability.
The locomotives are part of a $2.5 billion agreement signed in 2015 in support of the Government of India's Public Private Partnership 'Make in India' program. The deal included an order for 1,000 locomotives, as well as the establishment of a new GE Transportation factory and maintenance sheds in India.
The project is on track and has achieved several key milestones. Currently, there are 45 locomotives in India that are ready for inspection and acceptance by Indian Railways. GE's state-of-the-art Roza Maintenance Shed in the state of Uttar Pradesh, India, is ready for operations and the construction of the factory in Marhowra, Bihar, is in advanced stages towards completion. Operations will begin in the fourth quarter. Once fully operational, all locomotives built in Marhowra under the agreement will have 70 percent localized content.
Both Marhowra and Roza will set new standards in Indian Railways for manufacturing, maintenance and monitoring of diesel locomotives, as well as spark job creation and skills development across the region.
"We are aligned with the Government of India's vision to modernize and 'Make in India'," said Jain. "Together, we are making tremendous progress on the vision and continuing to invest in the region."
Visit the GE Transportation InnoTrans 2018 webpage to learn more about this week's announcements, demos and displays. The GE Transportation booth is located at Hall 3.2, Stand 401.
About GE Transportation
At GE Transportation, we move the world and improve the world. We are a global technology leader and supplier of equipment, services and digital solutions to the rail, mining, marine, stationary power and drilling industries. Our innovations help customers deliver goods and services with greater speed and savings using our advanced manufacturing techniques and connected machines. GE Transportation is headquartered in Chicago and employs approximately 9,000 employees worldwide.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180918006157/en/
SOURCE: GE Transportation">
Thunderwagon5000 said
3:27 PM, 09/19/18
Great to see !
Uke said
9:38 AM, 09/20/18
Used ta be part of GM, when they were still active in Canada, but since EMD was 'spun off' and became a private entity unto themselves, where's their offices, and plant(s) in 2018?
This was a promotional film produced by their media division touting their history, and entry into the high-horsepower competition. Now they've largely given up that race to GE. But they still compete strongly overseas, and sell export models across the globe!
So what's going on at General Electric, one of the original Dow Jones Industries from back in the 1800s when the stock market was formed. Now that GE has been booted from the Dow, what's next under Flannery?
Will they shed the 'transportation' division? Unlikely, becaue they'ere still selling big road power as usual. Besides, they couldn't find a buyer who wanted to build locomoteves, including Canada, or Mexico.
https://www.marketwatch.com/story/ge-to-spin-off-health-care-business-unload-baker-hughes-2018-06-26
Can it get any worse for GE? Probably. But we'll still be baffled by more, not less what the board decides what's best to save what's left after all the cuts to come. Will GE, one of the original and founding members of the Dow-Jones industrials last another year? Hard to say, but it can't continue this way...
The new GE still faces many old problems
1. Power problems: General Electric has embarked on a sweeping makeover aimed at returning the iconic company to greatness.
Wall Street loved GE's decision to break itself apart by getting rid of its health care, oil and gas and locomotive businesses. The beaten-down stock enjoyed its best day in three years as GE (GE) promised to simplify itself and clean up the debt-riddled balance sheet.
But these bold steps to further shrink GE's empire mean that the remaining company will be even more exposed to trouble in its biggest problem areas: power and banking.
Fresh evidence of GE's power problems will get revealed on Friday, when the recently ousted member of the Dow reports earnings. Expectations are low: GE has lost one-fifth of its value this year, on the heels of a crash of nearly 50% last year.
GE Power, which makes and services gas and steam turbines, has been crushed by the rapid rise of renewable energy. Orders and prices for fossil fuel equipment have plunged, forcing GE to lay off 12,000 workers.
Cowen & Co. analyst Gautam Khanna predicted that GE will disclose a 65% plunge in earnings from power. The company's renewable energy division, which isn't being sold off, is too small to make a dent in the overall bottom line.
"Power remains challenged (to put it mildly), with little hope of a near-term recovery," Deutsche Bank analyst Nicole DeBlase wrote to clients last week.
Related: Meet the new GE: It's a shell of its former self
That's a problem because GE Power isn't going anywhere. It'll remain the largest division by revenue after GE completes its transformation. And troubles at GE Power will no longer be masked by strength from one of the company's crown jewels: the health care juggernaut that is being spun off.
"GE's recently announced break-up places a ceiling on the stock until the power segment's turnaround effort gains more traction," Khanna wrote.
The bright spot at GE is undoubtedly its soaring aviation business, which makes and services jet engines. Sales are expected to rise, driven by strong orders for GE's LEAP engine.
The biggest mystery surrounds GE Capital, the financial arm that nearly destroyed the company a decade ago.
GE Capital shocked Wall Street in January by disclosing a $6.2 billion loss in the long-term care insurance business. The news caught regulators off guard as well, prompting an SEC investigation. Now Flannery is trying to get rid of the troubled insurance portfolio as well.
GE could also offer more details about the federal investigation into WMC, its subprime mortgage unit. GE has set aside $1.5 billion to cover potential losses and it recently warned it could put WMC into bankruptcy.
Will more shoes drop at GE?
-- Edited by Uke on Sunday 15th of July 2018 03:28:06 PM
hard to tell they are in 8th notch by the noise. No "throbbing" sounds.
Sad sad--Apprentice tng at GE loco div saved me from a life of stealing hub caps.
Excuse my typing--just had cataract surgery.
Short range planning will always show up over time.
Don't know about l t care, but making bad loans will kill you.
Want to write more, but am seeing double
best, Wes---------------out
Great to see today.
GE leasing engines---IBM made a fortune
leasing big blue computers??????????
wes----------------out
Great tu hear you see today, wes.
Up to the minute GE nooz as of today:
GE Transportation locomotives approved for operation by Indian Railways
--Locomotives to upgrade India's rail infrastructure and support its growing economy
--GE Transportation's plant in Marhowra, India, to start production in fourth quarter
GE Transportation (NYSE:GE) announced today at InnoTrans 2018 that Indian Railways has confirmed its acceptance of GE's 4,500-horsepower diesel-electric Evolution Series prototype locomotive. This critical milestone was achieved following the successful completion of rigorous testing on Indian Railways' tracks following the locomotive handover in February 2018.
"The acceptance of these locomotives is a testament to GE's engineering depth and understanding of the customer requirements," said Nalin Jain, President and CEO-APAC, GE Transportation. "This is a major step towards fulfilling our contract with Indian Railways. Together we will help modernize Indian Railways' fleet, significantly upgrade India's rail infrastructure and provide critical support for India's growing economy."
A standard practice, the acceptance of the 4500hp locomotives came aftermonths of reviewing key design aspects, documentation and a thorough validation around various parameters in the U.S. and India. The locomotives also completed additional reviews, including oscillation trialsand rating and performance tests.
The new units feature an Evolution Series engine and an electronic fuel-injection system for improved fuel efficiency, as well as compliance with international emission standard UIC1. The individual axle-control AC propulsion technology will improve hauling capability and decrease life-cycle cost. The locomotives also are digitally enabled for predictive analytics to increase reliability and availability.
The locomotives are part of a $2.5 billion agreement signed in 2015 in support of the Government of India's Public Private Partnership 'Make in India' program. The deal included an order for 1,000 locomotives, as well as the establishment of a new GE Transportation factory and maintenance sheds in India.
The project is on track and has achieved several key milestones. Currently, there are 45 locomotives in India that are ready for inspection and acceptance by Indian Railways. GE's state-of-the-art Roza Maintenance Shed in the state of Uttar Pradesh, India, is ready for operations and the construction of the factory in Marhowra, Bihar, is in advanced stages towards completion. Operations will begin in the fourth quarter. Once fully operational, all locomotives built in Marhowra under the agreement will have 70 percent localized content.
Both Marhowra and Roza will set new standards in Indian Railways for manufacturing, maintenance and monitoring of diesel locomotives, as well as spark job creation and skills development across the region.
"We are aligned with the Government of India's vision to modernize and 'Make in India'," said Jain. "Together, we are making tremendous progress on the vision and continuing to invest in the region."
Visit the GE Transportation InnoTrans 2018 webpage to learn more about this week's announcements, demos and displays. The GE Transportation booth is located at Hall 3.2, Stand 401.
About GE Transportation
At GE Transportation, we move the world and improve the world. We are a global technology leader and supplier of equipment, services and digital solutions to the rail, mining, marine, stationary power and drilling industries. Our innovations help customers deliver goods and services with greater speed and savings using our advanced manufacturing techniques and connected machines. GE Transportation is headquartered in Chicago and employs approximately 9,000 employees worldwide.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20180918006157r1&sid=cmtx6&distro=nx&lang=en
View source version on businesswire.com: https://www.businesswire.com/news/home/20180918006157/en/
SOURCE: GE Transportation">
Great to see !
Used ta be part of GM, when they were still active in Canada, but since EMD was 'spun off' and became a private entity unto themselves, where's their offices, and plant(s) in 2018?
This was a promotional film produced by their media division touting their history, and entry into the high-horsepower competition. Now they've largely given up that race to GE. But they still compete strongly overseas, and sell export models across the globe!
Best on 'full screen' setting
https://www.youtube.com/watch?v=uOBhlOS3frk
-- Edited by Uke on Thursday 20th of September 2018 09:39:44 AM
https://en.wikipedia.org/wiki/Electro-Motive_Diesel
https://www.theguardian.com/business/2012/feb/15/caterpillar-canada-anger-emd-rail-factory