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spygirl

The big 'wheels coming off GE' thread

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Ive mentioned my thoughts on GE on various threads,both here and ToS.

Flannery, the GE man to unfuck GE has been given the boot.

https://www.ft.com/content/79ce6690-c598-11e8-8167-bea19d5dd52e

https://www.bbc.co.uk/news/business-45711740

BBC gives it a passing article as they are soo clueless about anything 5 miles from West London.

 

People have a go for, rightly, pointing the finger at cunt Brown for everything that has gone wrong i nthe UK - Cuntbyn, tax credits, Brexit, high house prices, banks going bust, extreme levels of debt. But Im right FFS.

When I want to point the finger about everything that has gone wrogn with working at a company in the last ~30 years, I pioint the finger at theat bullshitting fradulent cunt Welch.

Share holder value. Thats one of Welch's. You might want to look at GE share as it gives everybit of price over the last 20 odd years.

GE stock - 'As good as money in your pocket' as the saying used to go.

Be first or get out - thats another.

A good manager can manage any company.

What Jack the crook did was take a large industrial group, take the old fridge finance company, used to allow the midwest to HP purchase fridges in the 50s, and turn GE finance into a leverage fucking monster where he could dip into it s made up accounts to make the quarterly numbers.

He did this for 20 odd years, whilst spouting his utter crap, whilst other companies and managers because they are normally a bunch on thick, pack followers, followed - laying off profitable divisions because they were'not first' doing the whole sack  everyone but the 'top 20% performers' without realising they had no means to determine that and the fact that it does not work.

 

 

 

 

 

 

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8 minutes ago, One percent said:

Interesting. Sounds as if Culp dazzled the board with bshit and wheedled his way into a position of power. Never, ever trust new brooms. 

No.

Totally desperate.

Flannery did  a massive kitchen sink ~12 months ago.

Even that was not enough.

CUlp is carrying on with Flannery's plan - there is no plan.

Just the board wanted someone to take a fall for the fuck up theyve overseen.

GE has been ~10% business 90% Welch fraud.

 

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Posted (edited)

GE/ GE Capital ..... not very different from Enron really, other than the longer timescales. I got caught up in the Jack Welch cult around 2000, his autobiography (2001) cured me. 

And the GE bailout.... embarrassing. 

 

Edited by Transistor Man

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41 minutes ago, MrPin said:

I've never worked for a more massive bunch of half-arsed fuckwits.I had to report to know-nothing arseholes.:CryBaby:

Welsch himself!

 

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GE has piad more than 6bln in fees to Wall Street since 2000.

Thats ~500m in in fees, every year.

Dirty dirty scammy Ponzi.

And its market vlaue has fallen 80% i nthe period.

 

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40 minutes ago, spygirl said:

GE has piad more than 6bln in fees to Wall Street since 2000.

And its market vlaue has fallen 80% i nthe period.

 

Maybe they should have paid more fees?

 

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2 hours ago, Popuplights said:

Didn't GE used to be the world's largest company? When they actually made stuff.

It has the smell of Woolworth to me. I am glad I sold my shares when I did.

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https://www.ft.com/content/c46bc320-c87f-11e8-ba8f-ee390057b8c9

More hilarious articles.

Ge bought alstom power business in nov 15. Wrote it off, plus more, in oct 18.

Again the stupid be num1 or quit. They bought alstom to make them #1 in power by size, i,e trying to buy to be a monopoly. Cornering market nevers works.

What they needed to do was ensure they covered their cost of business and had a good margins.

Chasing dumb fuck management metrics rather than good business.

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Alstom is French and every French Engineering firm is an almighty state-subsidised fuck-up from top to bottom.

They the UK lets them buy decent British Engineering firms to either shut-down or fuck-up.

This is what you get when dealing with French Engineering Companies.

https://en.wikipedia.org/wiki/EPR_(nuclear_reactor)#Flamanville_3_(France)

Started 2007, supposed to be working just over 4 years later 2001 ish at 3.3Bn.

Latest indicative finish date 2020, current spend 10.9Bn and the numbers are out of date.

The biggest mistake the UK will ever make is building Hinckley Point C, the bastardised child of the French & Chinese which is supposedly going to cost us an  eye watering 22.8BN (at least) which is weirdly twice as expensive as the French Flammanville cluster fuck and nearly 10x what the thing should cost.

FRENCH=FUCK-UP

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4 minutes ago, Chewing Grass said:

Alstom is French and every French Engineering firm is an almighty state-subsidised fuck-up from top to bottom.

They the UK lets them buy decent British Engineering firms to either shut-down or fuck-up.

This is what you get when dealing with French Engineering Companies.

https://en.wikipedia.org/wiki/EPR_(nuclear_reactor)#Flamanville_3_(France)

Started 2007, supposed to be working just over 4 years later 2001 ish at 3.3Bn.

Latest indicative finish date 2020, current spend 10.9Bn and the numbers are out of date.

The biggest mistake the UK will ever make is building Hinckley Point C, the bastardised child of the French & Chinese which is supposedly going to cost us an  eye watering 22.8BN (at least) which is weirdly twice as expensive as the French Flammanville cluster fuck and nearly 10x what the thing should cost.

FRENCH=FUCK-UP

Like french civil service. With similar employment laws - technically you can lay people off. In reality you just carry on paying them to not turn up to work,

After being on the sidelines of a joint uk-belgian operation, and seeing how all future pay rises and money went to the belgians, despite being shit or not doing the work they were meant to be. Insane.

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On 06/10/2018 at 11:27, Chewing Grass said:

Alstom is French and every French Engineering firm is an almighty state-subsidised fuck-up from top to bottom.

They the UK lets them buy decent British Engineering firms to either shut-down or fuck-up.

This is what you get when dealing with French Engineering Companies.

https://en.wikipedia.org/wiki/EPR_(nuclear_reactor)#Flamanville_3_(France)

Started 2007, supposed to be working just over 4 years later 2001 ish at 3.3Bn.

Latest indicative finish date 2020, current spend 10.9Bn and the numbers are out of date.

The biggest mistake the UK will ever make is building Hinckley Point C, the bastardised child of the French & Chinese which is supposedly going to cost us an  eye watering 22.8BN (at least) which is weirdly twice as expensive as the French Flammanville cluster fuck and nearly 10x what the thing should cost.

FRENCH=FUCK-UP

not so weird when you realise the output is twice as large

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On 02/10/2018 at 12:03, MrPin said:

I've never worked for a more massive bunch of half-arsed fuckwits.I had to report to know-nothing arseholes.:CryBaby:

Oh dear, the local one I worked for are recruiting again. They now need (allegedly) 20 engineers. I just said no. An old colleaugue was laid off earlier this year, and now they want more fodder!

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6 minutes ago, MrPin said:

Oh dear, the local one I worked for are recruiting again. They now need (allegedly) 20 engineers. I just said no. An old colleaugue was laid off earlier this year, and now they want more fodder!

I had them as a vendor, most intransigent bunch I've ever had the displeasure of working with.

It's all about the money, everything is extra (by a stupid amount) but they also refuse to do things that are in the contract that would cost a lot. "Sue us then" is the standard answer, however I just got my bosses to cancel all future contracts worth many millions as they hadn't met the contractual requirements on my job.

 

 

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16 minutes ago, MrPin said:

Oh dear, the local one I worked for are recruiting again. They now need (allegedly) 20 engineers. I just said no. An old colleaugue was laid off earlier this year, and now they want more fodder!

Theyll have one team of MBAs laying off people, to meet target A.

And another team recruiting, to meet target B.

A total shower of shit.

 

5 minutes ago, Option5 said:

I had them as a vendor, most intransigent bunch I've ever had the displeasure of working with.

It's all about the money, everything is extra (by a stupid amount) but they also refuse to do things that are in the contract that would cost a lot. "Sue us then" is the standard answer, however I just got my bosses to cancel all future contracts worth many millions as they hadn't met the contractual requirements on my job.

 

 

Sod tgat. Cancel the existing.

Tell them youll be putting their kit out building 5pm on bank holiday friday. And its up to them to pick it up.

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