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2 More Conglomerates
Are Breaking Up
Nov 12, 2021 9:43 AM CST
2 More Conglomerates Are Breaking Up
J&J, Toshiba announce plans to separate their businesses in coming years
- Johnson & Johnson plans to split into two publicly traded companies. And in case you're wondering, no, they won't be called "Johnson I" and "Johnson II." Johnson & Johnson will keep its name and its title as the world's largest health-products company by sales...
One of America's Oldest
Companies Is Splitting Up
Nov 9, 2021 10:15 AM CST
One of America's Oldest Companies Is Splitting Up
GE to become 3 public companies focused on aviation, health care, energy
- General Electric will divide itself into three public companies focused on aviation, healthcare and energy, reports the AP . The storied American company, founded in 1892, has refashioned itself from the sprawling conglomerate created by Jack Welch in the 1980s to a much smaller and more focused entity after it was...
The Lighting Game Made
GE. Now It Says Goodbye
May 28, 2020 11:05 AM CDT
The Lighting Game Made GE. Now It Says Goodbye
Savant Systems to acquire GE Lighting for a reported $250M
- General Electric has sold its lighting business, which originated with Thomas Edison more than 140 years ago. For some, it's "as if Kellogg had jettisoned its cornflakes business or Ford had stopped making cars," reports the
New York Times
, noting GE floodlights allowed for the first MLB...
One of the Most Prominent
American CEOs Is Dead
Mar 2, 2020 8:12 AM CST
One of the Most Prominent American CEOs Is Dead
Jack Welch, formerly of General Electric, was 84
- Jack Welch, the former CEO of General Electric, has died at age 84, reports CNBC . The outlet notes that Welch oversaw an expansion at GE that saw its market value rise from $12 billion to $410 billion in the two decades he led the company. But along the way, he...
GE Sells Off Another
Big Piece of Itself
Feb 25, 2019 9:55 AM CST
GE Sells Off Another Big Piece of Itself
Company sheds its fast-growing biopharma unit
- General Electric is selling its biopharma business to Danaher Corp. for $21.4 billion as it continues to sell off chunks of a once sprawling conglomerate, per the AP . The biopharma unit, part of GE Life Sciences, generated revenue of about $3 billion last year. In fact, the
Firm in America
Has 'String of
Jan 11, 2019 12:55 PM CST
Most-Hated Firm in America Has 'String of PR Disasters'
Facebook really gets our goat, per 24/7 Wall St.
- The opposite of love may be indifference, but hate is what Americans harbor for the companies that annoy, enrage, and frustrate them. And those firms fall in a variety of sectors, per 24/7 Wall St ., which ranked the most loathed companies in the country based on consumer surveys, data from...
Struggling GE Makes
a Surprise Move
Oct 1, 2018 8:22 AM CDT
Struggling GE Makes a Surprise Move
CEO John Flannery is ousted after about a year
- More turmoil at GE: The company has ousted CEO John Flannery a little more than a year into the job. Flannery took over from longtime exec Jeff Immelt in August 2017 with grand plans to restructure General Electric and turn around its slumping fortunes, reports CNNMoney . But significant troubles at...
After 100 Years, Last
Original Dow Member
Booted From Index
Jun 19, 2018 6:34 PM CDT
After 100 Years, Last Original Dow Member Booted From Index
General Electric to be replaced by Walgreens
- General Electric will be dropped from the Dow Jones industrial average next week, ending the industrial conglomerate's more than 100-year run in the 30-company blue chip index, the AP reports. S&P Dow Jones Indices said Tuesday that GE will be removed from index before the open of trading...
GE Makes Move It's Only Made
Once Since the Depression
Nov 13, 2017 3:28 PM CST
GE Makes Move It's Only Made Once Since the Depression
Company slashes dividend as part of a major restructuring; stock has worst day since 2009
- General Electric announced big moves on Monday as part of a strategy to streamline the struggling company, including a rarity: GE is slashing its dividend for only the second time since the Great Depression, reports the
New York Times
. And it's no small cut, with the quarterly payout shrinking...
Has a -5%
Nov 1, 2017 10:17 AM CDT
This Company Has a -5% Corporate Tax Rate
GE tops WalletHub's list of companies with lowest corporate tax rates; Caterpillar has the highest
- To best understand how President Trump's plan to cut the corporate tax rate from 35% to 20% would affect companies, it's necessary to determine a company's effective tax rate. WalletHub is on the case. The outlet reviewed annual reports for the top 100 companies on the S&...
All New GE Hires
Will Learn to Code
Aug 9, 2016 8:44 AM CDT
All New GE Hires Will Learn to Code
'The new middle-class job is a programmer'
- Want to learn to code? Get a job at General Electric. CEO Jeff Immelt tells
that new hires, including the 4,000 to 5,000 college graduates hired each year, will now learn to code as part of a larger overhaul to the century-old company. "It doesn'...
GE: Say Goodbye
to CFLs, Hello
Feb 1, 2016 1:22 PM CST
GE: Say Goodbye to CFLs, Hello to LEDs
Company is phasing out curly compact fluorescents
- Valentine's Day is just a couple of weeks away, but there's a big split making headlines. "GE is breaking up with compact fluorescent lamps" is how General Electric broke the news in a Monday release on its latest development: It will phase out compact fluorescent lights, or...
There's $620B in
Taxes the US Can't
Get Its Hands On
Oct 7, 2015 1:32 PM CDT
There's $620B in Taxes the US Can't Get Its Hands On
Just 30 companies have offshore holdings totaling $1.4T
- Apple has skipped out on paying close to $60 billion in taxes on $181 billion it holds offshore, according to a new study. But though the company holds the most profits offshore of any US company, it's hardly alone: At least 358 American companies hold $2.1 trillion in...
Electrolux to Buy
GE Appliance Business
in $3.3B Deal
Sep 8, 2014 12:33 PM CDT
Electrolux to Buy GE Appliance Business in $3.3B Deal
Purchase should be approved by 2015
- Sweden's Electrolux is buying the appliances business of General Electric for $3.3 billion, boosting its presence on the North American market, the companies announced today. The acquisition is the largest ever for Stockholm-based Electrolux, ranked as the world's second-biggest home appliance-maker after US rival Whirlpool. GE confirmed...
GE Gets Into the
May 28, 2013 6:37 AM CDT
GE Gets Into the Fracking Biz
Sinks billions in bid to improve the process
- One of America's corporate giants is putting its billions where the fracking boom is: General Electric is opening a new laboratory in Oklahoma, buying up related companies, and placing a big bet that cutting-edge science will improve profits for clients and reduce the environmental and health effects of the...
Mar 8, 2013 2:22 PM CST
US Companies Stashing $1.9
'Broken' tax code causes offshore hoarding to soar $183B last year
- The top 83 US-based companies now hold a massive $1.45 trillion offshore, parked in low-tax countries, after increasing those holdings by 14.4%—or $183 billion—just in the last year, reports Bloomberg . The leader in offshore profit parking is GE, with $108 billion, up $6 billion from last...
Top 10 Companies for 2013
Jan 17, 2013 4:50 PM CST
Top 10 Companies for 2013
Apple, of course, makes forecasters' list, along with Pfizer, Walmart
- The prognosticators at 24/7 Wall Street are out with their annual predictions on which companies will be the most profitable in 2013. And, yes, Apple is expected to retain its No. 1 spot—by a wide margin. Here is the forecast with expected 2013 earnings, via MarketWatch .
No. 1: Apple,
Jack Welch: I
Should Have Put
Oct 6, 2012 8:08 AM CDT
Jack Welch: I Should Have Put Question Mark on Tweet
But he still thinks jobs numbers are fishy
- Former GE chief Jack Welch became the face of the latest trutherism movement yesterday when he tweeted that the new jobs numbers were too good to be true—"these Chicago guys will do anything..can’t debate so change numbers," it read. He said on CNN last night...
Oct 5, 2012 10:14 AM CDT
Ex-GE Boss: Obama Must Be Tweaking Jobs Figures
Slew of tweets jump in on conspiracy theory
- And a new conspiracy theory is born. The only explanation for the latest jobs data is that President Obama has been meddling with the numbers, says former GE CEO Jack Welch. "Unbelievable jobs numbers," he tweeted. "These Chicago guys will do anything... can't debate so change...
GE Exec to Be Paid
$89K a Month ... to Not Work
Aug 2, 2012 6:53 AM CDT
GE Exec to Be Paid $89K a Month ... to Not Work
John Krenicki gets cushy package in return for non-compete
- John Krenicki, a vice chairman at GE, is leaving the company ... and in exchange for agreeing not to work for a competitor any time in the next three years, he's getting paid $89,000 per month until 2022. That's more than $1 million per year, the
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