According to CNNMoney, GE (GE-US)'s newly appointed CEO, John Flannery, has unveiled a new future corporate path that will focus on the current leading medical, power, and aerospace products. It was not included.
GE previously mentioned in July this year that it will sell its lighting business group, which currently accounts for 2% of GE's overall revenue, while GE's light bulb performance has also fallen 66% this year. However, for some investors, GE without a light bulb is like AT&T (T-US) without a telephone or GM (GM-US) without a Chevrolet.
GE announced on Monday (13th) that it will cut its dividend from US$0.24 to US$0.12. Although it can save “US$4 billion†in “costs†per year, the stock price closed down 7.17% to US$19.02 per share, a record of 5 The lowest point in the year. GE's share price has fallen 40% this year, and reducing dividends has also led investors to transfer funds to more rewarding investment products.
A brief history of GE
It is understood that Edison invented the light bulb in 1879, set up his own light bulb sales company a year later, and in 1892 merged with Thomson-Houson Electronics to form today's GE.
Beginning in 1892, GE no longer manufactures light bulbs by hand, but uses machines. In 1906, GE engineer William Coolidge developed long-lasting and ultra-bright bulbs that made GE available for sale in 1911.
In 1935, GE's light bulbs began to illuminate the field for the MLB, and invented fluorescent bulbs in 1938. In 1962, LED bulbs were invented.
GE hopes to no longer own the light bulb business group in 2019.
Light bulb business group problem
LED bulbs can be replaced for decades. Although GE's LED bulb business group performed well in 2007-2014, the future revenue may not be very optimistic. GE hopes that the future business group will have a growth rate, stable income, and healthy cash flow.
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