Comment / Analysis: APMM vs GE – dinosaurs, but heading for extinction?

© Vladimir Serebryanskiy | maersk_53449966

16/10/2018

“That is mind-blowing. The comparison is stunning. Two dinosaurs on totally different islands experiencing the same cyclical patterns… who would have thought?” – T. Island, nickname, a Loadstar reader, October 2018.

In a similar manner to which General Electric (GE) is being dismantled following almost two decades of disgraceful mismanagement, AP Møller Mærsk Group (APMM) could be faced with a reality check of epic proportions if its latest revolutionary corporate strategy does not pay off.

Two of the most prominent industrial restructurings ...

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james w coleman
October 21, 2018 at 5:10 pm
GE has NOT made the writeoff yet!

FAKE NEWS!!!

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- Gavin van Marle
  October 23, 2018 at 12:19 pm
  Hello James,
  
  With respect, this article can’t be classed as fake news as it is an opinion piece.
  
  Kind regards,
  Gavin
  
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  - Ale Pasetti
    October 23, 2018 at 1:53 pm
    James,
    
    Accuracy is the most important part of what we do. Clearly, you are not up to speed with latest development.
    
    Next time, please check out your sources before commenting on this wall.
    
    Thanks!
    
    https://www.genewsroom.com/press-releases/h-lawrence-culp-jr-named-chairman-and-ceo-ge-284509
    
    October 1, 2018
    
    GE Power business outlook declines, leading to shortfall relative to 2018 guidance; Company to take non-cash impairment charge related to GE Power
    
    Thomas W. Horton appointed as Lead Director
    
    BOSTON – October 1, 2018 – GE (NYSE: GE) announced today that H. Lawrence Culp, Jr. has been named Chairman and Chief Executive Officer of the Company by a unanimous vote of the GE Board of Directors, effective immediately. Additionally, the GE Board has appointed Thomas W. Horton as Lead Director. Mr. Culp and Mr. Horton have been members of the Board since April 2018. Mr. Culp will succeed John Flannery as Chairman and CEO.
    
    While GE’s businesses other than Power are generally performing consistently with previous guidance, due to weaker performance in the GE Power business, the Company will fall short of previously indicated guidance for free cash flow and EPS for 2018. In addition, GE expects to take a non-cash goodwill impairment charge related to the GE Power business. GE Power’s current goodwill balance is approximately $23 billion and the goodwill impairment charge is likely to constitute substantially all of this balance. The impairment charge is not yet finalized and remains subject to review. The Company will provide additional commentary when it reports third quarter results.
    
    Best,
    
    Ale
    
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    - Ale Pasetti
      October 23, 2018 at 2:02 pm
      To know more, You should also also read this:
      
      GE’s $23 Billion Writedown Is Mostly Its Bad Bet on Gas Turbines
      
      https://www.bloomberg.com/news/articles/2018-10-22/ge-s-23-billion-writedown-stems-from-a-bad-bet-on-fossil-fuels
      
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      - Ale Pasetti
        October 30, 2018 at 11:21 am
        Q3 ended Sept 30: “Recorded estimated $22B non-cash goodwill charge”
        
        https://www.ge.com/investor-relations/sites/default/files/ge_webcast_pressrelease_10302018.pdf