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Articles for Culp, search results for cash

Larry Culp already saved GE. He’ll make $230 million if he can revitalize the company
4 years, 4 months ago

Larry Culp already saved GE. He’ll make $230 million if he can revitalize the company

CNN  

New York CNN Business — General Electric is giving Larry Culp more than 200 million reasons to stay and finish the job of turning around the storied conglomerate getting rocked by the pandemic. GE’s board extended Culp’s contract by two years to at least August 2024, giving the CEO more time – and easier targets – to fix the troubled …

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GE earnings: Nearly $1 billion was wiped out by coronavirus
4 years, 8 months ago

GE earnings: Nearly $1 billion was wiped out by coronavirus

CNN  

New York CNN Business — General Electric’s turnaround has been disrupted by the coronavirus pandemic. The conglomerate said Wednesday it burned through $2.2 billion of cash during the first quarter as its jet engine business got slammed by a “rapid decline” in global commercial aviation orders in March. Yet GE’s industrial free cash flow burn rate nearly doubled during the …

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GE warns of bleak 2019 but promises a brighter future
5 years, 9 months ago

GE warns of bleak 2019 but promises a brighter future

CNN  

New York CNN Business — General Electric warned on Thursday that 2019 will be another brutal year, but CEO Larry Culp vowed to confront the storied conglomerate’s problems “head on.” Dragged down by its beleaguered power division, GE is bracing for up to $2 billion of negative free cash flows from its industrial businesses. GE reiterated in a presentation to …

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GE’s stock has spiked 67% since its December low
5 years, 10 months ago

GE’s stock has spiked 67% since its December low

CNN  

New York CNN Business — The biggest comeback kid on Wall Street is 126 years old. “We are doing everything in our power to return GE to a position of strength,” Culp wrote in his inaugural annual shareholder letter on Wednesday. No fire sale Wall Street applauded GE’s decision to sell part — but not all — of its healthcare …

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GE pays $1.5 billion to finally resolve subprime loan allegations
5 years, 11 months ago

GE pays $1.5 billion to finally resolve subprime loan allegations

CNN  

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, …

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