GE switches off light bulb business after almost 130 years

Re:GE switches off light bulb business after almost 130 years by terracatta on Wednesday May 27, 2020 @01:29PM (#23326734)

Yeah it's definitely part of a pattern of behavior that started with the ouster of Immelt.

Basically the start of their downfall was Trian Partners, an activist investor, bought $2.5 billion of GE stock in 2015 with the express goal of GE taking on a ton of debt to do share buybacks and raise the dividend

https://steveblank.com/2017/11/01/why-ges-jeff-immelt-lost-h...

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Re:GE switches off light bulb business after almost 130 years by petra on Wednesday May 27, 2020 @02:13PM (#23327420)

Wasn't it GE's CEO who pushed the idea that the company's goal is to optimize share value ?

Karma's a bitch.

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Re:GE switches off light bulb business after almost 130 years by beervirus on Wednesday May 27, 2020 @10:03PM (#23332618)

“Stakeholder capitalism” notwithstanding, that’s kind of the goal of every company.

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Re:GE switches off light bulb business after almost 130 years by windexh8er on Wednesday May 27, 2020 @11:52PM (#23333205)

Thanks to Milton Friedman's doctrine [0]. Unfortunate that is viewed as the default goal.

[0] https://en.m.wikipedia.org/wiki/Friedman_doctrine

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Re:GE switches off light bulb business after almost 130 years by samdamsamm on Wednesday May 27, 2020 @10:18PM (#23332710)

Stakeholder capitalism is an oxymoron. You either hold capital or you bear the stakes. That’s the point.

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Re:GE switches off light bulb business after almost 130 years by Simulacra on Thursday May 28, 2020 @01:13PM (#23339800)

Precisely

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