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Industrial Conglomerates Jeffrey Immelt

  • NEW YORK, May 22- A year ago, Jeff Immelt told investors at an industry conference there was a "mismatch" between the performance of company he led, General Electric Co, and its stock price. On Wednesday, Immelt's successor as chief executive of the industrial conglomerate, John Flannery, will make the case for GE's investment potential at the same annual Electrical...

  • *Unloads parts of transportations unit in $11.1 bln deal. May 21- General Electric Co announced a $11.1 billion deal on Monday to merge its transportation business with U.S. rail equipment manufacturer Wabtec Corp, with GE and its shareholders owning just over half of the combined business. The transaction values the GE transportation business, which makes...

  • May 7- Elliott Management has proposed an all cash offer of $160 per share for Athenahealth Inc that would value the healthcare software maker at about $6.9 billion including debt, the hedge fund said in a letter Monday. It is being advised by the investment bank Lazard Ltd and the law firm Weil, Gotshal& Manges LLP. A KeyBanc Capital Markets research note said that...

  • May 7- Elliott Management has proposed an all cash offer of $160 per share for Athenahealth Inc that would value the healthcare software maker at about $6.9 billion including debt, the hedge fund said in a letter Monday. It is being advised by the investment bank Lazard Ltd and the law firm Weil, Gotshal& Manges LLP. A KeyBanc Capital Markets research note said that...

  • May 7- Elliott Management has proposed an all cash offer of $160 per share for Athenahealth Inc that would value the healthcare IT company at about $6.5 billion, the hedge fund said in a letter to its board on Monday. Athenahealth shares rose 24 percent to $156.17 per share on Monday. About a year ago, Elliott Management disclosed a 9.2 percent stake in Athenahealth...

  • IMPERIAL, Pennsylvania, April 25- General Electric CO employees and shareholders voiced frustration on Wednesday with the company's poor performance, while attending the first annual meeting under Chief Executive Officer John Flannery, who has presided over a 43 percent decline in GE's stock price since taking over on Aug. 1. Several dozen union workers from...

  • IMPERIAL, Pennsylvania, April 25- General Electric CO employees and shareholders voiced frustration on Wednesday with the company's poor performance, while attending the first annual meeting under Chief Executive Officer John Flannery, who has presided over a 43 percent decline in GE's stock price since taking over on Aug. 1. Several dozen union workers from...

  • IMPERIAL, Pennsylvania, April 25- General Electric CO employees and shareholders voiced frustration on Wednesday with the company's poor performance, while attending the first annual meeting under Chief Executive Officer John Flannery, who has presided over a 43 percent decline in GE's stock price since taking over on Aug. 1. Several dozen union workers from...

  • IMPERIAL, Pennsylvania, April 25- General Electric CO employees and shareholders voiced frustration on Wednesday with the company's poor performance, while attending the first annual meeting under Chief Executive Officer John Flannery, who has presided over a 43 percent decline in GE's stock price since taking over on Aug. 1. Several dozen union workers from...

  • NEW YORK, March 12- General Electric Co last year eliminated bonuses for its senior managers for the first time in its 126- year history, saving millions of dollars after losing money in 2017, the industrial conglomerate said on Monday. Former CEO Jeff Immelt, who stepped down on Aug. 1, received $8.1 million in 2017, down from $21.3 million the year before.

  • Valued at close to $580 billion at the turn of the millennium, GE has dropped to around $125 billion and it was surpassed in value by 3 M Co in January for the first time since the 1970 s. The difference between GE and United Tech Corp's market values fell to $15 billion. $20 I think is a very long-term target that really isn't in the equation at this point, "Tusa said of...

  • Ken Langone

    The downfall at GE has been a "colossal failure" in board leadership, says Langone, also co-founder of Home Depot.

  • GE is a 'colossal failure in governance,' says former board member

    I will fight to my death this is not going to be laid on Jack Welch, says Ken Langone, Invemed Associates founder and Home Depot co-founder, weighing in on the shake-up on General Electric's board.

  • NEW YORK, Feb 22- Last March, executives at General Electric Co's power-plant business gave Wall Street a surprisingly bullish forecast for the year. Despite flat demand for new natural gas power plants, they said, GE Power's revenue and profit would rise. Rather than rising, GE Power's profit fell 45 percent last year, forcing GE to slash its overall profit outlook...

  • An employee of General Electric works on a gas turbine at the GE plant in Belfort, France.

    Among the problems plaguing the company is a collapse in cash flow and a severely curtailed profit outlook, says John Inch.

  • NEW YORK, Feb 22- Last March, executives at General Electric Co's power-plant business gave Wall Street a surprisingly bullish forecast for the year. Despite flat demand for new natural gas power plants, they said, GE Power's revenue and profit would rise. Rather than rising, GE Power's profit fell 45 percent last year, forcing GE to slash its overall profit outlook...

  • Jeffrey Immelt

    Former General Electric boss Jeff Immelt was consistent in his overly optimistic approach to running the once-massive company.

  • Jeff Immelt

    Immelt has joined the board of directors of Radiology Partners, about two weeks after becoming Athenahealth chairman.

  • NEW YORK, Feb 16- General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars. On Jan. 16, GE said it would take a $6.2 billion pretax charge and set aside $15 billion in reserves to help...

  • NEW YORK, Feb 16- General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, costing shareholders tens of billions of dollars. On Jan. 16, GE said it would take a $6.2 billion pretax charge and set aside $15 billion in reserves to help cover...