The ‘fantastic’ and ‘lucrative’ Larry Culp: What the incoming CEO brings to troubled GE

Source: FactSet Culp also grew Danaher revenues steadily, with the peak of the financial crisis in 2009 marking its only negative year of sales growth while he was in charge. He is telling GE staff that "everything is on the table" to try to revive the fallen industrial giant, according to Cramer. Flannery had been…

Trump’s big fight with Canada over dairy gets the US only $70 million more...

Christinne Muschi | Bloomberg | Getty Images A cow stands at the Lookout dairy farm in North Hatley, Quebec, Canada on Wednesday, Sept. 5, 2018.  President Donald Trump's declared victory for U.S. dairy farmers may not be as large as it seems. On Sunday, the U.S. and Canada reached a deal to replace the North…

Facebook admits it ‘made mistakes’ after top exec appeared at Kavanaugh hearing

REUTERS/Jim Bourg Facebook policy head Joel Kaplan (circled) listens to testimony of Brett Kavanaugh before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., September 27, 2018.  Facebook has admitted it "made mistakes" after a top executive was seen attending Judge Brett Kavanaugh's congressional hearing, reportedly prompting outrage from employees. Joel Kaplan,…

The problems at GE’s troubled power unit can’t be fixed quickly

Luke Sharrett | Bloomberg | Getty Images Workers on the assembly line for gas turbines at the General Electric energy plant in Greenville, South Carolina. GE does not see demand rebounding soon. The market for gas-powered turbines will total less than 30 gigawatts this year and remain stagnant through 2020, GE forecast. Two years ago,…

A rare moment of agreement: Trump’s White House and Bernie Sanders applaud Amazon’s $15...

However, what Bezos has announced on wages "is not only enormously important for Amazon's hundreds of thousands of employees, it could well be, and I think it will be, a shot heard around the world," Sanders said Tuesday. Bezos himself took to Twitter to thank Sanders for his praise. "We're excited about this, and also…

GE shares surge after company dumps Flannery as CEO, takes $23 billion charge for...

General Electric abruptly removed John Flannery as chairman and CEO on Monday and installed former Danaher Corp CEO Lawrence Culp as his successor. At the same time, GE said it will take a $23 billion non-cash charge for its struggling power business. The industrial conglomerate also said it "will fall short of previously indicated guidance…

Trump aide Peter Navarro: NAFTA replacement signals the US is no longer the world’s...

Peter Navarro, one of President Donald Trump's top trade advisors, told CNBC on Monday the last-minute deal to bring Canada on board to replace NAFTA shows that the U.S. won't be the world's "piggy bank" anymore. "It's a bullish day for America. It's a bullish day for North America," Navarro said. Navarro appeared on "Squawk…

Elon Musk tells Tesla staff to ‘ignore the distractions,’ hints at being profitable

Beck Diefenbach | Reuters Elon Musk, CEO of Tesla.  Elon Musk believes Tesla is "very close" to turning a profit after years of burning through cash, but warned that Sunday would prove pivotal to the car marker achieving an "epic victory" on its production goals. On the heels of a turbulent last few weeks that…

White House receives FBI report on Kavanaugh, spokesman says

Andrew Harnik| AFP | Getty Images US Supreme Court nominee Brett Kavanaugh is sworn in to testify before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington,DC on September 27, 2018. The White House has received the Federal Bureau of Investigation's report on sexual misconduct allegations against U.S. Supreme Court nominee Brett Kavanaugh,…

Kavanaugh warned friends of condo eviction in 1983 letter: ‘We’re loud, obnoxious drunks’

Gabriella Demczuk | AFP | Getty Images Supreme court nominee Brett Kavanaugh testifies before the Senate Judiciary Committee on Capitol Hill in Washington, DC on September 27, 2018. A 1983 letter written by Supreme Court nominee Brett Kavanaugh described himself and his Georgetown Preparatory School classmates as "loud, obnoxious drunks with prolific pukers among us,"…

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