Inside the dismantling of GE - News Summed Up

Inside the dismantling of GE


GE CEOs 1981 to 2001 Jack Welch Welch built GE into a super-conglomerate that enjoyed enormous financial success, but his push into banking dealt the company a nearly fatal blow in 2008. 2017- present John Flannery Flannery, a 30-year veteran of GE, has been forced to raise cash by slashing the dividend and attempting to auction off the iconic rail and light-bulb businesses. In the 1980s and 1990s, legendary CEO Jack Welch turned GE into the biggest and most complex conglomerate on the planet. The one-two punch of high debt and declining profits forced GE to cut its dividend in half last year for just the second time since the Great Depression. GE executives are reviewing the company's portfolio of businesses, which has already undergone a huge renovation over the past dozen years.


Source: CNN June 13, 2018 17:48 UTC



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