GE to sell GETS (GE Transportation GE Rail) to WABTEC

Discussion of General Electric locomotive technology. Current official information can be found here: www.getransportation.com.

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es80ac
Posts: 53
Joined: Sun Feb 26, 2012 6:07 pm

Re: GE to sell GETS

Post by es80ac »

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?

JayBee
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Re: GE to sell GETS

Post by JayBee »

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

XC Tower
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Re: GE to sell GETS

Post by XC Tower »

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.








XC

R36 Combine Coach
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Re: GE to sell GETS

Post by R36 Combine Coach »

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.

Gilbert B Norman
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Re: GE to sell GETS

Post by Gilbert B Norman »

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).

Ira
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Re: GE to sell GETS

Post by Ira »

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

GEVO
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Re: GE to sell GETS

Post by GEVO »

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.

es80ac
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Joined: Sun Feb 26, 2012 6:07 pm

Re: GE to sell GETS

Post by es80ac »

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?

Engineer Spike
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Re: GE to sell GETS

Post by Engineer Spike »

If TETS is just spun off, that might put EMD back on top. Under GM, EMD was able to set up good financing terms. GE also has the clout to do so. Now that EMD is under Cat’s umbrella, they have deep pockets. Let’s see who will pick up the locomotive business.

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MEC407
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Re: GE to sell GETS

Post by MEC407 »

Just daydreaming here but I wonder if United Technologies (parent company of Pratt & Whitney) would be interested. There are some interesting overlaps between jet engines and locomotive engines, as GE knows very well... but maybe they wouldn't want to hand GETS over to someone they compete with in the jet business.

Berkshire Hathaway? He already bought a railroad, why not buy a locomotive builder too?
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GEVO
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Re: GE to sell GETS

Post by GEVO »

According to GE, the decision on what they are going to do with the Transportation Division will come in the 2nd qtr 2018. The very latest is that they are exploring a merger with Wabtec. Seems like a good fit although no details released yet on how the merger would take place or who would be in control.

Ira
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Re: GE to sell GETS

Post by Ira »

Merging with Wabtec may be a good thing for the Erie plan. What do you think?

Ronal U18C Indonesia
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Re: GE to sell GETS

Post by Ronal U18C Indonesia »

Allen Hazen wrote:Some things shouldn't even be joked about.
When I started this string back on April 1st, it was an April Fool's joke. But an item in today's paper…

From the "Globe and Mail" (Toronto) for Saturday 21.x.2017, page B5. (B is the business section of the paper.) Article by-lined Alwyn Scott, apparently syndicated by Reuters. GE has been seen as under performing for some years. In response…
First paragraph: "General Electric Co,'s new chief executive" [John Flannery] "vowed on Friday to shed more than $20-billion (U.S.) worth of assets…"
And final paragraph: "Analysts had clear ideas about what pieces GE could do without" "GE will likely sell transportation…"" [along with lighting and "anything else that isn't nailed down and very core," according to one quoted analyst].

(That's on an inside page of the business section. Story on front page about a former locomotive builder, Bombardier, selling much of its airplane business to Skybus.)
That's a first destruction of GE oh i see Mr Allen Hazen?
Last edited by Ronal U18C Indonesia on Sat Apr 21, 2018 8:41 pm, edited 1 time in total.
Wahana Daya Pertiwiku, Sahayata Seva Rakhateku, it's my hobbies Indonesia railfans

IR, IR, IR yeay!!!

Ronal U18C Indonesia
Posts: 364
Joined: Tue Mar 06, 2018 7:56 am
Location: KM 23, Wonokromo-Mojokerto plot, Sepanjang, Area Operation 8 Surabaya

Re: GE to sell GETS

Post by Ronal U18C Indonesia »

Allen Hazen wrote:Some things shouldn't even be joked about.
When I started this string back on April 1st, it was an April Fool's joke. But an item in today's paper…

From the "Globe and Mail" (Toronto) for Saturday 21.x.2017, page B5. (B is the business section of the paper.) Article by-lined Alwyn Scott, apparently syndicated by Reuters. GE has been seen as under performing for some years. In response…
First paragraph: "General Electric Co,'s new chief executive" [John Flannery] "vowed on Friday to shed more than $20-billion (U.S.) worth of assets…"
And final paragraph: "Analysts had clear ideas about what pieces GE could do without" "GE will likely sell transportation…"" [along with lighting and "anything else that isn't nailed down and very core," according to one quoted analyst].

(That's on an inside page of the business section. Story on front page about a former locomotive builder, Bombardier, selling much of its airplane business to Skybus.)
Continues Who is subtitute of locomotive manufacture for IR Ll Co? He wants to a Hyundai Rotem or Bombardier to manufactured of IR(wichmean a Indonesia Railways) locomotive?
Wahana Daya Pertiwiku, Sahayata Seva Rakhateku, it's my hobbies Indonesia railfans

IR, IR, IR yeay!!!

DutchRailnut
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Re: GE to sell GETS

Post by DutchRailnut »

at least not Chinese buyer ....
https://www.progressiverailroading.com/ ... tec--54494" onclick="window.open(this.href);return false;
If Conductors are in charge, why are they promoted to be Engineer???

Retired Triebfahrzeugführer. I am not a moderator.

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