“As 2020 progressed, we significantly improved GE's profitability and cash performance despite a still-difficult macro environment."
The company "materially misled investors about how it was generating reported earnings and cash growth as well as latent risks in its insurance business."
Revenues were mainly driven by sales in the power and renewable energy divisions.
The buyer, Savant Systems, is a maker of ‘smart home’ solutions.
At present, companies generally aren't subject to required contributions and have little incentive to make discretionary ones, Russell Investments reports.
"GE’s restructuring remains very much a work-in-progress, with some signs that [CEO Larry] Culp’s turnaround is taking hold."
Carolina Dybeck Happe's background makes her an unusual choice to run finance at the struggling conglomerate, a research report suggests.
Carolina Dybeck Happe leaves Maersk after less than a year to take the most prestigious job in corporate finance.
“Returning GE to a position of strength has required us to make several difficult decisions, and today’s decision to freeze the pension is no exception."
REGO Restaurant Group, Scena Retail Group, General Electric, Mylan, Brighthouse Financial, Maxim Integrated Products, Valencell, New York Power Authority
CEO Larry Culp hails Jamie Miller's "many contributions to GE’s significant transformation" but says it was time for a CFO change.
WMC Mortgage sought bankruptcy protection to resolve remaining legal liabilities over defective loans it originated before the 2008 financial crisis.
