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Jack Welch built it, Jeff Immelt milked it and John Flannery failed to fix it. Now Larry Culp must figure out what to do with the troubled remnants of GE Capital, the finance arm that nearly sank General Electric Co.…
American Industrial Partners to Acquire Current, Powered by GE
With more than 90 transactions completed and $4.2 billion of assets under management, American Industrial Partners has deep roots in the industrial economy and has been active in private equity investing for nearly 30 years that focuses on buying, improving…
GE Slashes Dividend, Takes $22 Billion Charge in 3Q
General Electric slashed its quarterly dividend to a penny, from 12 cents per share. A large proportion of GE shares are held by individuals, who appeared to overlook that news early Tuesday in hopes that the worst may be behind…
Walmart to Save Energy and Achieve Sustainable Goals with GE Lighting
According to GE Lighting, by switching customers from traditional to LED bulbs over the past two years, shoppers will save more than US$2 billion collectively over the life of the LED bulbs. As part of an ongoing commitment to energy…
GE Dropped from Dow Jones Industrial Average, Replaced by Walgreens
General Electric Co., an original member of the Dow Jones Industrial Average, is being removed from the renowned stock index to be replaced by Walgreens. New CEO John Flannery, who took over in mid-2017, vowed in November to jettison $20…
GE Can’t Get Rid of Its Light Bulb Business
It’s been nearly a year since cash-strapped GE revealed plans to sell the struggling light bulb business and focus instead on moneymakers like jet engines and MRI machines. But GE has yet to find a taker for the iconic unit.…
Blackbaud World Headquarters Showcases the Future of Intelligent Lighting for Commercial Offices
As Blackbaud Inc., the world’s leading cloud software company powering social good, prepares to turn on the lights and welcome employees to its new 172,000 square foot world headquarters, an innovative lighting platform from Current, powered by GE will enable…
Nifty Nostalgia: GE 5W Vintage Style LED Light Bulb
“Vintage-style” LED light bulbs are bringing an old-time aesthetic back to the lighting aisle. Inside each one, you’ll find decorative filaments that are actually just light-emitting diodes (LEDs) arranged into lines. They look like old-fashioned incandescent bulbs with twisty, eye-catching…
7 Chinese Companies That Might Be Interested in Bidding for GE Lighting
GE’s general lighting unit and Current, powered by GE are worth around USD 600-800 million, financial institutions estimate. The final price will settle based on the term of GE’s trademark and its market coverage. Currently, there are six GE lighting…
General Electric Strikes Deal to Sell Portion of GE Lighting
GE has agreed to sell GE Lighting’s business in Europe, the Middle East, Africa and Turkey, as well as its Global Automotive Lighting business. The company previously announced plans to sell both GE Lighting and Current, a unit that spun…
Walmart and Current Announce 1.5 Million LED Luminaire Milestone Across 6000 Stores
Walmart and Current, powered by GE used the National Retail Federation Big Show to announce that their long partnership in energy-efficient LED lighting has reached more than 1.5 million luminaires installed in the retailer’s stores, parking lots, distribution centers, and…
GE Reignites Break-Up Talk After $11 Billion Insurance, Tax Hit
General Electric Co indicated it is looking closely at breaking itself up on Tuesday as the conglomerate announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws. Chief Executive John Flannery has…
GE to Cut 12,000 Jobs in Electrical Power Division
The jobs are in the electrical power division, which makes the giant turbines and generators that the company estimates provide about one-third of the electricity produced around the world. GE is by far the worst-performing stock in the Dow this…
Tagged with: electrical power divsion, GE, jobs, John Flannery
Posted in Industry News, Uncategorized
Posted in Industry News, Uncategorized
Boston-Based Current Is Now on GE’s Chopping Block
The first General Electric Co. division to set up a presence in Boston is now on the list of businesses that CEO John Flannery wants to sell. During his first presentation to GE shareholders on Monday, Flannery laid out his…
GE to Focus on Three Key Units, Exit Most Other Operations
General Electric Co’s Chief Executive John Flannery plans to disclose a road map for the company on Monday that will focus on three of its biggest business lines – aviation, power and healthcare, the Wall Street Journal reported, citing a…
GE Chief Will Sell, Spin Off $20 Billion of Businesses in Two Years
John Flannery looks to simplify the conglomerate after a review begun when he was appointed CEO in June. While the Boston-based firm didn’t specify which businesses would go on the block: “Everything is on the table, and there have been…
ABB to Acquire GE Industrial Solutions for $2.6 Billion
The release said, “GE Industrial Solutions is headquartered in Atlanta, GA, and has about 13,500 employees around the world. In 2016, GE Industrial Solutions had revenues of approximately $2.7 billion. … As part of the transaction and overall value creation,…
GE, ABB Restart Talks Over Industrial Solutions Deal
GE is entertaining the possibility of selling its industrial solutions business for a little over $2 billion after initially hoping for more than $3 billion, four sources said this week. The talks with ABB (Swiss Engineering Company) had ended last…
WHAT DO GE, PHILIPS AND OSRAM HAVE IN COMMON? BY BILL ATTARDI
They all want OUT!….or do they? What keeps you up at night? I woke up in the middle of the night thinking I figured out where the Strategic Business Units (SBUs) of our friends in the lighting industry think they…
General Electric Wants Out of the Lightbulb Business
Sale of business that once defined GE, co-founded by Thomas Edison, could fetch $500 million. The commercial lighting business rolled into GE’s newer company Current is not part of the sale discussion. While nearly all of GE Lighting products are…
