General Electric

On a board where crypto is praised as a "good investment", and overnight -25% is common...

SToCKs aRe THe WoRST iNVeSTMeNT PoSSiBLe

warren buffet invested in ge and imb. he fucking sucks as an invester. fucking boomers needs to die

b2reddit

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Corporate play of 2019/2020 : Adopt and shill usage of smartcontracts and win.

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>this is good for Bitcoin

Everything I have sold GE for the past 2 years has been sent to Puerto Rico

based and dubs confirm it
have you been there? thinking about a visit there to see if its a place i wanna settle in eventually. I aint giving the IRS a penny, they can go fuck themselves

Too many High paid execs

When earnings fell they took out loans to finance their dividend instead of using capital to actually grow the business. This turned out to be, surprise, unsustainable.

their stupid smug condescending commercials sunk the company

GE:

"We bring good things to Life"

will be up for sale

GECONNEEEEEEEEEEEEEEEEEEEEEECT

I asked a hedge fund manager that the other day. Basically terrible mismanagement, an ego, and a failure to adapt to competition (which are really all related).

Then they slashed dividends.

>IBM
at least IBM has their Mainframe licensing shit, literally forcing thousands of businesses to pay per the computation

What does general electric have? Shit, i don't think i can name a single thing they make.

From dealing with them as a customer and working at a company who copied their corporate culture, I can give a few reasons.

1. Terrible and expensive customer service - They marked up their products since most companies will just reorder whatever was in there. This works if you have stuff stocked but they didn't and lead times were horrible. Whenever they bought a company, we made a point to stop buying from them and replace their products with alternatives. Also, you would think being able to get ahold of someone in sales to buy stuff would be the easiest thing to do (because this is how you get business), but this is surprisingly hard with ge. I recall talking with 6 random people with titles I couldn't figure out what they did before I found an older person who had someone's cell number. Crazy.

2. Force ranking employees. - if you don't know what this is, it basically is that you have a certain percentage of people who are top and bottom performers in an organization or group and they should get pay raises and bonuses accordingly. When he under Jack Walsh developed this, he was looking at cutting headcount as the company was pretty fat at the time. It actually worked pretty well and people eventually quit who weren't the best employees. The problem is that after the headcount was low enough to where it needed to be, they kept doing it. You get to the point where the low spot is just some arbitrary reason and the top spot is some favorite of management. Can you imagine such environment how you had any incentive to work with each other? Now try running a company where your coworker is actively sabotaging you for their own gain.

3. Poor acquisitions. Since 2010ish, he went on a rampage trying to corner the turbomachinary market and energy services market. They bought at high premiums in companies with low growth. Well the energy market isn't so great and those expected profits aren't there. They tried to hide their mismanagement this way.

All of those horribly trained managers with the old ge culture are still there. All of the company people who can leave have left. Unless you get the right CEO to purge out the jack Walsh mentality, you are pushing money away.

what about sears lol

1. GE was in the business of making things.

2. Then they started GE Capital, and got into the financial services business.

3. Pretty soon, GE Capital was the cash cow, and was making so much money that it allowed the company to ignore the fact that the other divisions had gone to shit.

4. When the crash happened around '08, GE Capital got caught with their pants down and almost sank the company.

5. To fix this, GE decides to sell of the unit. That solved the risk, but left them with a bunch of bloated divisions losing money, with no cash cow to make up the difference.