Suddenly a light bulb went off

Actually it took more than a decade. WSJ:

The power business is effectively collapsing with revenue declining by a third from a year earlier while orders were 18% lower. For an industry with such long sales processes and construction times, the rapid decline calls into question the fundamentals of GE’s power business. The company says that the division’s challenges will last longer-than-expected—a turnaround had been expected by 2020.

GE’s third-quarter loss came to $22.8 billion and executives cautioned the company would fall far short of its previous targets. Not discussed, but lingering in the background, are concerns that the company’s long-term care insurance portfolio could take another hit beyond a $6.2 billion charge taken earlier this year.

GE, America’s most valuable company in 2001, the year that Jeffrey Immelt took the helm, now has a market value below $100 billion, ranking 52nd as of Monday. GE’s shares rose 20% in the six sessions following Mr. Culp’s ascension, but that honeymoon was short-lived. His focus now has to be on staving off the legal and financial threats to the company long enough to be able to fix it.

We consulted with 3 PhD’s in physics and finally got the dishwasher to work.

One Response to “Suddenly a light bulb went off”

  1. feeblemind Says:

    Heh.

    Well I am glad you got your dishwasher to run.

    Perhaps you should have consulted an electrical engineer rather than physics PhDs?

    Maybe the over 60 demographic isn’t the target market for this dishwasher?

    I have a PhD, Post hole Diggers. LOL.

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