Additionally, the company said that there will be “ongoing actions” to shrink GE Capital’s business over the next two years, continuing a plan set in motion back in 2015 to sell the majority of its finance division’s operations. The company was the worst performer on the Dow in 2017, with shares losing almost 40% in value.
Margins have been on the decline since 2014, and the company’s free cash flow has grown less and less consistent, especially after it decided to sell its very lucrative lending business.
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In 1889, Drexel, Morgan & Co., a company founded by J. The new company also acquired Sprague Electric Railway & Motor Company in the same year.
In 1880, Gerald Waldo Hart formed the American Electric Company of New Britain, Connecticut, which merged, a few years later with Thomson-Houston Electric Company, led by Charles Coffin, In 1887, Hart left to become superintendent of the Edison Electric Company of Kansas City, Missouri.
But even if GE decides to split up, what’s the guarantee that the move will help the company bounce back?
Flannery’s narrowed vision certainly has potential, and a fresh leader at the head of the table is never a bad thing for an older institution like GE.