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Articles for Culp, search results for shares

GE aviation and energy businesses start trading on NYSE, marking the end of the conglomerate
9 months, 1 week ago

GE aviation and energy businesses start trading on NYSE, marking the end of the conglomerate

Associated Press  

General Electric, long a symbol of American manufacturing and steeped in a rich history, is officially moving on from its existence as a sprawling conglomerate. In its heyday, GE’s stock became one of the most sought after on Wall Street under Jack Welch, one of America’s first CEO “superstars.” Nicknamed “the house that Jack built,” GE routinely outperformed peers and …

Energy Company Welch Ge Aerospace Culp Ge Vernova
GE to end its run as a conglomerate, split into 3 companies
3 years, 2 months ago

GE to end its run as a conglomerate, split into 3 companies

Associated Press  

General Electric, the storied American manufacturer that struggled under its own weight after growing to become a sprawling conglomerate, will divide itself into three public companies focused on aviation, health care and energy. “The strategic rationale is clear: three well-capitalized, industry leading public companies, each with deeper operational focus and accountability, greater strategic flexibility and tailored capital allocation decisions,” wrote …

Business Capital Company Welch General Electric Culp Conglomerate
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 …

Company Share Culp
GE inks $21 billion biopharma sale to Danaher in U-turn under Culp
5 years, 10 months ago

GE inks $21 billion biopharma sale to Danaher in U-turn under Culp

Live Mint  

General Electric said on Monday it would sell its biopharma business to Danaher Corp for $21.4 billion in the biggest strategy reversal since Lawrence Culp took over as the industrial conglomerate's chief executive in September. The biopharma sale also propelled a broad rally in GE's roughly $120 billion of bonds, which had taken a pounding in late 2018 as it …

Business Biopharma Deal Unit Danaher Culp
GE sells BioPharma business to CEO’s former company for $21.4 billion
5 years, 10 months ago

GE sells BioPharma business to CEO’s former company for $21.4 billion

CNN  

New York CNN Business — General Electric CEO Larry Culp is turning to his former company as he continues to dismantle GE. Danaher, the industrial company Culp ran more than a dozen years, agreed on Monday to buy GE’s BioPharma business. “It demonstrates that we are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and …

Business Company Biopharma Danaher Culp Wabtec Wab
General Electric seeks urgent asset sales as bond fears rise
6 years, 2 months ago

General Electric seeks urgent asset sales as bond fears rise

Live Mint  

New York: General Electric Co will sell assets with “urgency” to reduce its high debt, Chief Executive Officer Larry Culp said on Monday, as GE shares tumbled as much as 10 percent and the cost of insuring its debt hit a six-year high. “We have plenty of opportunity to do that through asset sales.” Culp said GE also was trying …

Debt High Unit Culp