GE to sell GETS

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Re: GE to sell GETS

Postby es80ac » Wed Nov 15, 2017 1:19 am

JayBee wrote:What I have read is that they have virtually no money for R&D and that they will have to borrow $6 billion just to fund the R&D and to pay the reduced dividend. The situation at GE is worse than was known by the market.

It's kind of hard to believe. GE has always showed a profit in all the past yearly/quarterly reports as far as I can remember, even with the most recent bad quarter, only GE Power lost some money. So if the company has been making profits all along, where did the cash/money go?
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Re: GE to sell GETS

Postby JayBee » Wed Nov 15, 2017 1:54 pm

Stock repurchases, Dividends, and Jeff Immelt.
Last edited by MEC407 on Thu Nov 16, 2017 1:53 pm, edited 1 time in total.
Reason: unnecessary quoting
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Re: GE to sell GETS

Postby XC Tower » Thu Nov 16, 2017 11:42 am

Honestly, this is both shocking to the naive part of me, but not to the "lived life a bit, seen things" cynical side that I fight with the passing of age.
Is it possible that GE would sell the Erie and Ft. Worth plants separately? In my mind, I am trying to imagine a scenario where Erie stays open, in spite of the new locomotive market looking pretty dismal. Word that I have heard is that GE is "aggressively looking into" the rebuilding market, but aren't there quite a few rebuild companies along some railroads who do their own?
I am hoping that both plants continue in operation. My heart goes out to anyone who loses a job.

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Re: GE to sell GETS

Postby R36 Combine Coach » Wed Nov 22, 2017 11:17 pm

XC Tower wrote: I worked there in 1977. It was like a city, complete with a narrow-gauge industrial track going into many of the buildings. Building 18 was hopping with the transit cars being built.
Arrow IIIs were on the assembly line in '77 and I'm sure you might have some Silverliner IVs and M-2 Cosmopolitans as well. Erie did not build car shells, they were under license from Budd and supplied by AVCO and Canadian Vickers.
Since my friend continues to chain smoke nonstop, she is probably an Alco.
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Re: GE to sell GETS

Postby Gilbert B Norman » Thu Nov 23, 2017 8:41 am

R36 Combine Coach wrote:
XC Tower wrote:Arrow IIIs were on the assembly line in '77.

A bit OT; but do I remember how during '77, those Arrows sat "forever" at Manhattan Transfer awaiting completion of the 25KV electrification projects (D,L,&W Morris and Essex; NY&LB).
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Re: GE to sell GETS

Postby Ira » Wed Jan 31, 2018 5:42 pm

Any news on who will be buying GETS Erie plant? Sounds like Flannery may sell sooner than later.
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Re: GE to sell GETS

Postby GEVO » Fri Feb 02, 2018 5:20 pm

A lot of rumors but nothing official to report. Told us there has been interest but still no decision on whether it will be a sale, merger, or spinoff.
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Re: GE to sell GETS

Postby es80ac » Fri Mar 09, 2018 10:54 pm

The latest news/rumor is GE plan to spin off GE Transportation instead of doing a sale. Anyone see the pro and cons of doing spin off vs a sale for GETS?
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