Wednesday, February 07, 2018

How GE Went From American Icon to Astonishing Mess-----Businessweek - Bloomberg

Businessweek - Bloomberg:
"...For most of its 126-year history, GE has exemplified the fecundity and might of corporate capitalism. 
Image result for ge It manufactured consumer products and industrial machinery, powered commercial airliners and nuclear submarines, produced radar altimeters and romantic comedies. 
It won Nobel Prizes and helped win world wars. 
And it did it all lucratively, rewarding investors through recessions, technological disruption, and the late 20th century collapse of American manufacturing.
That long, proud run may have come to an end. 
It happened, as Ernest Hemingway wrote of going bankrupt, “gradually and then suddenly.” GE hasn’t inspired awe for some time now: The company had to be bailed out in 2008 by the federal government and Warren Buffett, and across the 16-year tenure of recently departed Chief Executive Officer Jeffrey Immelt its stock was the worst performer in the Dow Jones industrial average..."
Read on!

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