Well well well. Looks like the shine of renewable lucre has worn off of windmills.

Quote:

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General Electric Co is laying off workers at its onshore wind unit as part of a plan to restructure and resize the business, which is grappling with weak demand, rising costs and supply-chain delays, four sources familiar with the move said.

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In the United States, which has been GE's most profitable onshore wind market, policy uncertainty following the expiry of renewable electricity production tax credits last year has hit customer demand, leading to a fall in the unit's revenue this year.

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The troubles at GE's onshore wind unit, which accounted for 15% of the company's industrial sales last year, are also affecting the performance of its overall renewable energy business. In July, the company blamed its North American onshore wind business for two-thirds of the decline in its second quarter renewable revenue.

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https://www.nasdaq.com/articles/exclusive-ge-lays-off-workers-at-onshore-wind-unit-as-part-of-turnaround-strategy-sources

Profits are blown away, like dust in the wind.

Wait...... you mean to tell me that if the government doesn't chip in with OUR tax dollars, that windmills aren't profitable?



Shut the front door.......

For Christs sake! GE just can't make a financially sound decision on the past 15 years!

How the hell are they still a company?

Buying numerous companies and driving them into the ground.

Merging with baker Hughes and having to divorce from them losing half their stuff after less than a year.... embarrassing.

Clob94 said:

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Wait...... you mean to tell me that if the government doesn't chip in with OUR tax dollars, that windmills aren't profitable?



Shut the front door.......

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This. Windmills and solar power are too politically sacred to fail.

Clob94 said:

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Wait...... you mean to tell me that if the government doesn't chip in with OUR tax dollars, that windmills aren't profitable?



Shut the front door.......

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Solindra the failed solar panel company says hello.. look at me!

ROI isn't a fan of that wind power nonsense. The math has never worked.

10thYrSr said:

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For Christs sake! GE just can't make a financially sound decision on the past 15 years!

How the hell are they still a company?

Buying numerous companies and driving them into the ground.

Merging with baker Hughes and having to divorce from them losing half their stuff after less than a year.... embarrassing.

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I got stories as what it was like to deal with Baker as a supplier while GE was around. Not sure if it would be wise to tell them here.

Edit

And I have stories about GE come to think of it.

DallasAg 94 said:

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The truth about Jack Welsh was that he banked huge off the Government.

Lobbying for Gov money paid off big.

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Yes, he Welched on most of his promises to the govt.

DallasAg 94 said:

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The truth about Jack Welsh was that he banked huge off the Government.

Lobbying for Gov money paid off big.

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Well duh. They've got deep pockets and zero business sense. When I was at ge I had crappy managers leave to the government to help with procurement. If there's anybody you want in government procurement, it's not a former GE person. Why buy it directly from the supplier when you can create a middleman to negotiate the cost down 5% then pay 20% over cost?

You can't have MismanaGEment without GE

Jeff Immelt ran GE into the ground for 20 years at the same time he had his nose up Obama's butt for 8 of those years. The world and especially OPEC, Russia, and China are laughing at us and this liberal energy policy. OPEC cutting back is totally predictable. They make more money and keep their reserves.

When you make a product that is not a good product that can't stand without free government money this is what you get!

Plus they look like crap ruining the landscapes and the nighttime blinking light pollution looks like crap!

When will people realize that the best and only reasonable investment in sustainable power generation is to build and improve upon nuclear?

Government Electric

Cannon Crew Ag said:

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When will people realize that the best and only reasonable investment in sustainable power generation is to build and improve upon nuclear?

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I like nukular too. But right now, absolutely everything should be invested in emissions capture systems/innovation/tech and in domestic oil/gas e&p.

10thYrSr said:

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For Christs sake! GE just can't make a financially sound decision on the past 15 years!

How the hell are they still a company?

Buying numerous companies and driving them into the ground.

Merging with baker Hughes and having to divorce from them losing half their stuff after less than a year.... embarrassing.

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They're just, "Too Big To Fail".

OG UNF said:

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Cannon Crew Ag said:

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When will people realize that the best and only reasonable investment in sustainable power generation is to build and improve upon nuclear?

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I like nukular too. But right now, absolutely everything should be invested in emissions capture systems/innovation/tech and in domestic oil/gas e&p.

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Tom Doniphon said:

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ROI isn't a fan of that wind power nonsense. The math has never worked.

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Yet they are about to build offshore wind farms right smack in the middle of where I do all of my work.

I am a current supplier to GE and everything you say is true. They are very talented at putting "trusting" suppliers out of business.

I've learned over the past 25 some odd years that you have to stand up to those guys....it took me a while to learn.

I tell them I won't agree to their payment terms....currently Net 160 Days...and, right....they take a discount.
I won't participate in their "buy down" to decrease terms length.

They take their business elsewhere for a while....but they always come back....and I stick it in their ***.

Quote:

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currently Net 160 Days

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That is ****ing criminal

GE has built their business off the back of small and medium sized businesses for decades.

They make nothing. They have great designs and engineers, or used to anyway.

houag80 said:

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I am a current supplier to GE and everything you say is true. They are very talented at putting "trusting" suppliers out of business.

I've learned over the past 25 some odd years that you have to stand up to those guys....it took me a while to learn.

I tell them I won't agree to their payment terms....currently Net 160 Days...and, right....they take a discount.
I won't participate in their "buy down" to decrease terms length.

They take their business elsewhere for a while....but they always come back....and I stick it in their ***.

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That is one of the stories I would have told in my post above.

They got one of our divisions to agree to those terms and then decided it applied to all divisions. My division told them to pound sand and we wouldn't ship, so they cut business with all other divisions. Caused us a lot of trouble but in the end we also didn't budge and they came back.

GE never abided by the rules they set either. The other division noted above gave them the long terms instead of the factored debt and GE took BOTH.

Or at least tried to take both.

Scumbags.

DallasAg 94 said:

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The truth about Jack Welsh was that he banked huge off the Government.

Lobbying for Gov money paid off big.

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Jack tried to turn GE into a finace company and I was happy to help then get out of the electrical business by not specifying any of their equipment. Their new electrical equipment is always so crappy and expensive nobody buys it, so they have to buy upstarts instead to replace their crap and hopefully don't GE up them.

OG UNF said:

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Cannon Crew Ag said:

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When will people realize that the best and only reasonable investment in sustainable power generation is to build and improve upon nuclear?

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I like nukular too. But right now, absolutely everything should be invested in emissions capture systems/innovation/tech and in domestic oil/gas e&p.

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Are you referring to carbon capture and sequestration?

I wonder why Birdbrain hasn't posted in this thread.

"...the United States, which has been GE's most profitable onshore wind market... "

As stated above, made possible by your tax dollars or your inflation, if through some of the "printed money".

Tom Doniphon said:

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ROI isn't a fan of that wind power nonsense. The math has never worked.

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Neither have the windmills (especially in freezing weather).

houag80 said:

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I am a current supplier to GE and everything you say is true. They are very talented at putting "trusting" suppliers out of business.

I've learned over the past 25 some odd years that you have to stand up to those guys....it took me a while to learn.

I tell them I won't agree to their payment terms....currently Net 160 Days...and, right....they take a discount.
I won't participate in their "buy down" to decrease terms length.

They take their business elsewhere for a while....but they always come back....and I stick it in their ***.

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I like it when you talk dirty.

Cobra39

tommyjohn said:

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Quote:

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currently Net 160 Days

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That is ****ing criminal

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. I think that's against the law in some states.

I wouldn't spike the football just yet. Fedgov will just see this as a problem that can be solved if only we just put a little mo' money into it. And that's right after declaring the news "surprising."