Financial and Gas Turbine Blade Troubles Plague GE Power

Credit to Author: Sonal Patel| Date: Thu, 07 Feb 2019 14:27:09 +0000

GE Power’s financials spun out further on a dismal trajectory during the fourth quarter of 2018, plagued by slack market demand for products and services, technical glitches of a flagship gas turbine model, and poor project execution. Despite a series of divestments and corporate reshuffles, including of leadership, for the 12 months that ended on […]

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GE Restructure Will See Leaner Power but Heftier Renewable Energy Division

Credit to Author: Sonal Patel| Date: Wed, 30 Jan 2019 16:28:11 +0000

GE has announced it will integrate its renewables, grid, and energy storage assets into a simplified, single business that nearly doubles the size of its Renewable Energy division, as the company banks on the accelerated uptake of grid-connected renewables worldwide.  The expansion will see GE’s grid solutions, solar solutions, and storage businesses move from GE […]

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Business and Leadership Shakeups Continue at GE

It’s been a tumultuous couple of years for GE. The company’s stock price has been decimated by the market, decreasing more than 75% from a high of nearly $32 a share as recently as December 2016. Dow Jones removed the company from its benchmark Industrial Average in June, and GE’s Board of Directors sacked CEO […]

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Flannery Takes Fall for GE Power Struggles

GE announced that H. Lawrence Culp Jr. has been named chairman and CEO of the company replacing John Flannery effective immediately. GE’s board of directors voted unanimously on the decision, and it also appointed Thomas W. Horton as lead director. In a press release, GE specifically cited weak performance in the GE Power business for […]

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GE Gas Turbine Blade Issue Concerns Analyst

Lead analyst Stephen Tusa lowered J.P. Morgan’s rating on GE stock after “checks on two initial U.S. installations revealed failures of the first stage blade of GE’s H-frame gas turbine,” thestreet.com reported on September 20. Tusa—who has long been critical of GE’s prospects—reportedly wrote, “The impact on ‘asset value’ from a failure at GE’s U.S. […]

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Clean Air Program Makes Shawnee Power Plant a Winner

Emissions standards have changed a lot since the Shawnee Fossil Plant entered service during President Eisenhower’s second term in office, but the Tennessee Valley Authority has done its part to help the

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