GE pays $1.5 billion to finally resolve subprime loan allegations

New York CNN Business — Wall Street is betting the worst may finally be over for General Electric. “It’s a start, but we have much more work to do.” Power problems linger GE Power, which makes turbines used in natural gas and coal power plants has been the company’s biggest problem for years. “Fixing power will take time,” Culp said, adding that the division will struggle again in 2019 and the turnaround is “in the very early innings.” GE sought to quiet speculation that it could auction off its lucrative aircraft leasing business for a whopping $40 billion. “Why would you give GE, after missing so many times over so many years, the benefit of the doubt?” Inch told CNN Business. Shrinking the GE empire Culp, the first outsider CEO in GE’s history, was hired last year to turn around the iconic maker of light bulbs, MRI machines and jet engines.