GE Industrial Systems gone

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ATSman

ATSman

ATSman
Location
San Francisco Bay Area
Occupation
Electrical Engineer/ Electrical Testing & Controls
I was just informed that the buyout of GEIS (power dist, turbines, drives, UPS, ATS, etc) by the international giant ABB was finalized today (started in Sept, '17.) Just another nail in the coffin for GE, after all these years as a leader of electrical apparatus around the world. Oh well, I can see the company eventually ending up like Westinghouse did when it sold off all of their divisions. To think these two companies were in fierce competition during the turn of the century and the industrial revolution. There are a few good documentaries on you tube about T. Edison, Tesla and Geo Westinghouse who were responsible in shaping the future of the world as it is today.

https://www.youtube.com/watch?v=8BUpF__h-IY&t=309s

https://www.youtube.com/watch?v=zqtNzHtB5Ss

https://www.youtube.com/watch?v=qpZL9WCvuTI

https://www.youtube.com/watch?v=7OzwoDnekWQ
 
Jraef

Jraef

Moderator, OTD
Staff member
Location
San Francisco Bay Area, CA, USA
Occupation
Electrical Engineer
GE has been more of a financial company that a manufacturer for decades now. They have been selling off the “meatball” to other vendors since 1983 when Jack Welch, later lauded as a great American business hero, sold off the first 118 GE business units to other companies, but allowing them to continue using the meatball under license to GE. In other words he began the trend of GE becoming a marketing company instead of a manufacturer. This just represents the culmination of that 30 year long process.
 
R

retirede

Senior Member
Location
Illinois
Jraef said:
GE has been more of a financial company that a manufacturer for decades now. They have been selling off the “meatball” to other vendors since 1983 when Jack Welch, later lauded as a great American business hero, sold off the first 118 GE business units to other companies, but allowing them to continue using the meatball under license to GE. In other words he began the trend of GE becoming a marketing company instead of a manufacturer. This just represents the culmination of that 30 year long process.
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Just to add to this:

The finance arm was hugely profitable. It also provided financing for the remainder of its products. Transportation and Medical were also good businesses.

Immelt dumped finance right after the banking crisis 10 years ago, selling it at a point when its value was lowest. He then bought Alstom and Baker Hughs for premium money leaving the company financially crippled.

Welch’s strategy started everything, Immelt’s tactics may well end everything.
 
zog

zog

Senior Member
Location
Charlotte, NC
ATSman said:
I was just informed that the buyout of GEIS (power dist, turbines, drives, UPS, ATS, etc) by the international giant ABB was finalized today (started in Sept, '17.) Just another nail in the coffin for GE, after all these years as a leader of electrical apparatus around the world. Oh well, I can see the company eventually ending up like Westinghouse did when it sold off all of their divisions. To think these two companies were in fierce competition during the turn of the century and the industrial revolution. There are a few good documentaries on you tube about T. Edison, Tesla and Geo Westinghouse who were responsible in shaping the future of the world as it is today.

https://www.youtube.com/watch?v=8BUpF__h-IY&t=309s

https://www.youtube.com/watch?v=zqtNzHtB5Ss

https://www.youtube.com/watch?v=qpZL9WCvuTI

https://www.youtube.com/watch?v=7OzwoDnekWQ
Click to expand...

You would probably like my company T-shirts

ACDC.jpg
 
G

ggunn

PE (Electrical), NABCEP certified
Location
Austin, TX, USA
Occupation
Consulting Electrical Engineer - Photovoltaic Systems
zog said:
Funny thing is the announcement of the deal mentioned ABB buying GEIS to make it more efficient! LOL!
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Any time another company buys the one you are working for "to make it more efficient", you'd better make sure your resume is up to date!
 
Besoeker

Besoeker

Senior Member
Location
UK
zog said:
Funny thing is the announcement of the deal mentioned ABB buying GEIS to make it more efficient! LOL!
Click to expand...
Well, I remember Brown Boveri for avrs and Asea for power semiconductors before they merged. Now they do everyrhing.
 
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