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‘His legacy is tarnished’: The big shake-up at GE is a direct challenge to former CEO Jeff Immelt’s most prized achievements
The legacy Jeff Immelt left behind at General Electric is officially on life support. Perhaps the biggest blow to date was landed on Tuesday when the company said it planned to spin off its healthcare business and divest its stake in oil-services company Baker Hughes.
GE will spin off its healthcare business and split from oil giant Baker Hughes in a massive reorganization
General Electric will spin off its healthcare business and divest its stake in oil-services company Baker Hughes. The moves come as part of a broad corporate reorganization that sees GE trying to shore up its balance sheet and streamline its businesses.
Once the most valuable public company in the United States, GE will leave the 122-year-old index as only the sixth largest of the 30-company basket. It's stock has declined by 80% from its highs set more than ten-year ago.
The company’s power business declined by 29%, while renewables, transportation and aviation grew.
Hawaiian Airlines' order for 10 Boeing 787-9 Dreamliners could be worth up to $2.82 billion.
While there's some signs of a positive road ahead, it may still be too early to rate the stock higher, an Oppenheimer analyst said.
DIGITAL HEALTH BRIEFING: Microsoft developing health chatbot platform — Lifespan aims to cut $182 million in costs with GE partnership —...
Microsoft is developing an AI-powered health chatbot platform to help healthcare providers leverage the power of digital assistants.
Companies like GE, Citibank, and Dropbox have borrowed a tool from startups to avoid getting boring and stuck
Companies like GE and Citi have implemented pseudo-venture capitalist boards to oversee ambitious projects, and they've been very successful.
DIGITAL HEALTH BRIEFING: Google’s latest digital health moves — GE partners with Nvidia — Digital health platform in China could see...
Google announced a number of strategic cloud partnerships with IT companies in the healthcare industry.
GE's stock has dropped as much as 7.1% as investors react unfavorably to a turnaround plan announced by the company.