GE’s Baker Hughes deal is 15 months too late: Bob Nardelli

GE’s Baker Hughes deal is 15 months too late: Bob Nardelli


TO PACK. ROUGHLY $4 BILLION AT SKATE — AT TAKE. INVESTORS ARE GROWING WORRIEDç ABOUT THAT. OBVIOUSLY THE STOCK HAS PLUMMETED. WHAT A STORY. I WOULD SAY THE BAKER HUGHES THING IS ABOUT 15 MONTHS TOO LATE. I THINK SOMETHING JOHN SHOULD HAVE DONE WHAT HE WAS SITTING IN THE CHAIR. WE TALKED ABOUT LARRY. VERY CANDID AND FORTHRIGHT. I THINK AS WE START TO PEEL BACK THE DEAL A LOT OF THE DEALS THAT THEY WON WERE DEALS THAT THEY DECIDED TO NOT TO BID ON. BECAUSE THEY WERE LOSERS. AND NOW THEY HAVE INHERITED THAT THROUGH THE AUSTIN DEAL. WE GOT OUT OF THE HYDRO BUSINESS. THEY ARE BACK INTO IT. THEY ARE BACK BUILDING. NOT ONLY THE EQUIPMENT. IN BUILDING THAT. WITH WINDS. THIS HAS REALLY BEEN A ROCK IN THE POCKET OF POWER SYSTEMS.ç THIS WAS UP TO 500 DOLLAR MARKET VALUE. NOW ARE TALKING ABOUT WERE TALKING ABOUT UNDER 100 BILLION. IF ALL WENT WRONG AND THEY TOOK THE WRONG SUCCESSOR. WE ARE AWARE. IT WAS AT THE POST CRISIS LOW. YOU CAN’T BELIEVE THAT THAT WAS IT. LARRY CAN’T REALLY AFFORD TO BE DRYING DOWN THE LINE OF CREDIT. BIG DEBTS. AND PENSION LIABILITIES. THEY NEED CASH. WHAT IS THE SIGNIFICANCE OF THE DOJ. NOW THIS IS INVOLVED. AS IT WAS A FALLING OUT. THEY GOT A SURPRISE ON THE LIFE INSURANCE AND ANNUITY.ç THEN THEY TAKE 22 OR $23 BILLION. IT WAS SUPPOSED TO BE THE BIGGEST, BEST DEAL IN THE HISTORY OF THE COMPANY. IT HAS REALLY TURNED PRETTY SOUR. THEY WANTED THE TALENT OF THE ENGINEERS BUT MAYBE THERE WAS A WAY TO DO THAT WITHOUT GOING AND BUYING A WHOLE COMPLETE. LET’S JUST REFLECT BACK. WE BROUGHT A PORTION BACK THEN.

3 thoughts on “GE’s Baker Hughes deal is 15 months too late: Bob Nardelli

  • Jack Welch IS what happened to GE.
    His Industry on a barge policy caused quick profits for GE, were unsustainable, and led to American jobs being outsourced.
    His ideas were held as a business model by Dems and large corporations across America for decades.
    The Dems are going to throw a wrench in our economic growth.
    The markets know that and are now projecting a recession.
    Get ready for high unemployment as the Dems send us back to their failed policies of globalism.

  • Hmmmm. The wrong successor to Welch? Maybe GE is feeling the fall because investors are tired of funding a company that does biz with our nation's enemies and terrorist supporting States. No one seems to realize the market is often based on emotional investors. Not everyone is willing to say "Terrorist supporting State needs stuff. Okay. I'll make some money off them."

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