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Post by Phaedrus on Jun 12, 2020 15:22:55 GMT -5
GE Aviation business laid off 10% of the work force in March. Mostly contractors and through early retirement.
Leadership said that they were going to need to lay off 15% more between June to August.
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Post by mikegarrison on Jun 12, 2020 15:32:17 GMT -5
GE Aviation business laid off 10% of the work force in March. Mostly contractors and through early retirement. Leadership said that they were going to need to lay off 15% more between June to August. Almost everyone involved in aviation is in the same situation. There were 50% fewer flights in May 2020 than in May 2019.
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Post by BearClause on Jun 12, 2020 19:18:22 GMT -5
GE Aviation business laid off 10% of the work force in March. Mostly contractors and through early retirement. Leadership said that they were going to need to lay off 15% more between June to August. Almost everyone involved in aviation is in the same situation. There were 50% fewer flights in May 2020 than in May 2019. With GE, isn't part of it maintenance? I thought that GE had maintenance contracts, even maintaining other manufacturers' engines.
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Post by Phaedrus on Jun 12, 2020 19:38:19 GMT -5
Almost everyone involved in aviation is in the same situation. There were 50% fewer flights in May 2020 than in May 2019. With GE, isn't part of it maintenance? I thought that GE had maintenance contracts, even maintaining other manufacturers' engines. Those are the guys they address keeping. Very little progress on new products. Development people are probably going to get cut, unless they went to maintenance.
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Post by hammer on Jun 13, 2020 11:38:32 GMT -5
GE Aviation business laid off 10% of the work force in March. Mostly contractors and through early retirement. Leadership said that they were going to need to lay off 15% more between June to August. Almost everyone involved in aviation is in the same situation. There were 50% fewer flights in May 2020 than in May 2019. I'm driving this summer. Even though it is a long distance I don't want to hassle with airports, rental cars, security lines, and sitting in a cabin that might have a COVID passenger near me.
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Post by Phaedrus on Jun 13, 2020 18:32:37 GMT -5
Almost everyone involved in aviation is in the same situation. There were 50% fewer flights in May 2020 than in May 2019. I'm driving this summer. Even though it is a long distance I don't want to hassle with airports, rental cars, security lines, and sitting in a cabin that might have a COVID passenger near me. RV industry is booming.
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Post by hammer on Jun 13, 2020 20:23:57 GMT -5
I'm driving this summer. Even though it is a long distance I don't want to hassle with airports, rental cars, security lines, and sitting in a cabin that might have a COVID passenger near me. RV industry is booming. Makes sense ... rent a small RV, see the USA, and avoid COVID. I'm going with hotels and digital key avoiding the whole front desk check in process. I'll bring a HEPA air cleaner, a small portable fridge, and plenty of Clorox wipes. When I arrive at my hotel I go straight to my room via the stairs (if necessary), hopefully avoiding contact with all other guests.
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Post by BearClause on Nov 9, 2021 10:18:54 GMT -5
Splitting into three companies now.
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Post by mikegarrison on Nov 9, 2021 13:19:17 GMT -5
Splitting into three companies now. Well, that's interesting. I worked for GE for a while, back in the Jack Welch days.
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Post by Phaedrus on Nov 13, 2021 13:33:55 GMT -5
Splitting into three companies now. Keeping Aviation intact, makes sense, they make tons of money servicing the engines that are already out there, and the Leap engine is a good product. I don't know much about Healthcare, all I know is that since they kept it after divesting of the other divisions earlier, which says something about their viability and profitability. The Power business and the renewable business being lumped together makes business sense. But, those two businesses have different culture and different outlook. It could be argued that their downfall came when they hung on to the power business model for too long, which is what helped dragged the corporation down. Power and Renewable also have different outlooks on the electric power business. If they let the power business run the show, I don't see good things happening, they will try to hang onto the traditional utility business models. They probably will since power makes big chunks of money when they do make money. Renewable is much smaller but has more potential. It is like going with the home run hitting strategy versus the hitting singles and moving the runners along strategy. There needs to be a mix of both, but I sense that power will dominate the conversation because of sunken cost fallacy. More important is what are they going to do with the CRD in Niskayuna, how are they going to split that unit up, and who gets the resources and cost. Another question is what will they do with the Additive Manufacturing group. I would assume that they will go with Aviation since they deliberately put close to Cincinnati to start, which tells me that they believed that it will be closely aligned with Aviation.
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Post by BearClause on Nov 13, 2021 17:30:08 GMT -5
Splitting into three companies now. Keeping Aviation intact, makes sense, they make tons of money servicing the engines that are already out there, and the Leap engine is a good product. I don't know much about Healthcare, all I know is that since they kept it after divesting of the other divisions earlier, which says something about their viability and profitability. The Power business and the renewable business being lumped together makes business sense. But, those two businesses have different culture and different outlook. It could be argued that their downfall came when they hung on to the power business model for too long, which is what helped dragged the corporation down. Power and Renewable also have different outlooks on the electric power business. If they let the power business run the show, I don't see good things happening, they will try to hang onto the traditional utility business models. They probably will since power makes big chunks of money when they do make money. Renewable is much smaller but has more potential. It is like going with the home run hitting strategy versus the hitting singles and moving the runners along strategy. There needs to be a mix of both, but I sense that power will dominate the conversation because of sunken cost fallacy. More important is what are they going to do with the CRD in Niskayuna, how are they going to split that unit up, and who gets the resources and cost. Another question is what will they do with the Additive Manufacturing group. I would assume that they will go with Aviation since they deliberately put close to Cincinnati to start, which tells me that they believed that it will be closely aligned with Aviation. I still think there was quite a bit of synergy in the old divisions. I previously mentioned that diesel-electric locomotives are essentially just a big diesel generator on wheels, but that's been gone for a few years. Healthcare was a lot of expensive, high margin equipment. Reminds me a lot like the old HP with lines drawn between lower-margin, higher-volume consumer/enterprise computing and office equipment (retained the HP name), and high-margin testing and medical equipment (which became Agilent). And a lot of people don't realize how much they really made. GE Plastics was huge until they sold it off. I think many will know the name Lexan, but might not know that a GE chemist came up with what became Silly Putty. I'm not sure about power though, since a lot of it is tied to gas turbine technology which are really just modified jet engines.
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Post by Phaedrus on Nov 13, 2021 20:51:25 GMT -5
Keeping Aviation intact, makes sense, they make tons of money servicing the engines that are already out there, and the Leap engine is a good product. I don't know much about Healthcare, all I know is that since they kept it after divesting of the other divisions earlier, which says something about their viability and profitability. The Power business and the renewable business being lumped together makes business sense. But, those two businesses have different culture and different outlook. It could be argued that their downfall came when they hung on to the power business model for too long, which is what helped dragged the corporation down. Power and Renewable also have different outlooks on the electric power business. If they let the power business run the show, I don't see good things happening, they will try to hang onto the traditional utility business models. They probably will since power makes big chunks of money when they do make money. Renewable is much smaller but has more potential. It is like going with the home run hitting strategy versus the hitting singles and moving the runners along strategy. There needs to be a mix of both, but I sense that power will dominate the conversation because of sunken cost fallacy. More important is what are they going to do with the CRD in Niskayuna, how are they going to split that unit up, and who gets the resources and cost. Another question is what will they do with the Additive Manufacturing group. I would assume that they will go with Aviation since they deliberately put close to Cincinnati to start, which tells me that they believed that it will be closely aligned with Aviation. I still think there was quite a bit of synergy in the old divisions. I previously mentioned that diesel-electric locomotives are essentially just a big diesel generator on wheels, but that's been gone for a few years. Healthcare was a lot of expensive, high margin equipment. Reminds me a lot like the old HP with lines drawn between lower-margin, higher-volume consumer/enterprise computing and office equipment (retained the HP name), and high-margin testing and medical equipment (which became Agilent). And a lot of people don't realize how much they really made. GE Plastics was huge until they sold it off. I think many will know the name Lexan, but might not know that a GE chemist came up with what became Silly Putty. I'm not sure about power though, since a lot of it is tied to gas turbine technology which are really just modified jet engines. Gas turbine makes up a vast majority of the generation in the world. Mainly because people are staying away from coal and are afraid of building nukes. Gas turbines are relatively cheap, small and nimble to deploy. Big issue is that it is dependent on natural gas, which will becomes expensive. I was surprised when they got rid of ther Digital business, that was going to be Immelts claim to fame. GE was the originator of the Industrial IOT, which is ubiquitous now.
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