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GE and Baker Divorce Pending?

5,085 Views | 25 Replies | Last: 6 yr ago by Ulrich
Boodlum
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AG
Any thoughts on the comments from GE about shedding its ownership of Baker? I hadnt heard any rumblings regarding that so the comments took me by surprise.
BigPuma
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AG
that was fast
IrishTxAggie
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That's gonna be an expensive divorce...
SparkE
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Source?

Edit: Found it:

http://www.oedigital.com/component/k2/item/16571-ge-weighs-baker-hughes-exit
fairviewcrew
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Yeah they can't divorce for 2 years at a minimum...
IrishTxAggie
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Not entirely true. They can with the permission of a special board.
agdaddy04
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When someone told me that last week I thought it was a joke.
aggiebq03+
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Haven't even finished changing out all the signs yet. And most people don't have new business cards.
agdaddy04
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Was just with a Baker guy from Tomball yesterday and he said they were in talks just this week about moving to GEs office.
mts6175
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agdaddy04 said:

Was just with a Baker guy from Tomball yesterday and he said they were in talks just this week about moving to GEs office.


Not really the same. If they divorce, GE Oil & Gas will stay with Baker. Seems GE wants to sell off a lot of their various companies if you listen to the CEO. Ship is sinking.
Kenneth_2003
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Which side does GE want? Oil Field Services or Oil Tools?

I figure there is cashflow or royalty money from Baker Oil Tools IP?
mts6175
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Kenneth_2003 said:

Which side does GE want? Oil Field Services or Oil Tools?

I figure there is cashflow or royalty money from Baker Oil Tools IP?


They're going to get both.
ag03kc
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I saw GE stock fell under $18 per share today. Does this turn around soon, and is anyone grabbing up GE stock right now? I'm waiting to see if ask price drops near $17 before I purchase, hoping that it will eventually get back up to the $30-$35 range like it was in early 2017. Thoughts?
94chem
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Continuing the legacy of Jack Welch is tough work. GE wanted to convert all of its holdings to bitcoin cause, ya know, they had a good week.
Matsui
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I'm watching as well. How much we putting in?
aunuwyn08
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I got in at 23, but will double down at 15.
Señor Chang
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Down below $16 today. Is anyone buying at this point?
IrishTxAggie
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Nope... I'd buy BHGE before I'd buy GE. I don't think GE's pains are through yet.
TriAg2010
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aunuwyn08 said:

I got in at 23, but will double down at 15.
Why? They fell down in to the $16s because nobody realized they were holding billions in reinsurance on home care insurance policies for old people. It was supposedly common knowledge that most of GE Capital had been wound-down. This company is a train-wreck and there are likely the be more pitfalls that will expose themselves in time.
histag10
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Husband worked for GE O&G before and through the Baker buy. To say employee morale was down before is an understatement. Then the Baker buy happened, and they gave him a paper bag with a lanyard, pen, and notebook. Then everything seemed to go to ***** Is like GE had no idea how to do anything anymore (including hr and payroll).

Husband jumped ship in September, and thankfully it seems we narrowly missed a sinking ship.
ScottBowen
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AG
TriAg2010 said:

aunuwyn08 said:

I got in at 23, but will double down at 15.
Why? They fell down in to the $16s because nobody realized they were holding billions in reinsurance on home care insurance policies for old people. It was supposedly common knowledge that most of GE Capital had been wound-down. This company is a train-wreck and there are likely the be more pitfalls that will expose themselves in time.
Sad to see what has become of the Shinehart Wig Company.
aunuwyn08
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My post was made well before that happened, and now given the SEC investigation I won't choose to expose myself to more GE risk at any price until that clears. I'm not selling my current position however since my time horizon is decades.
TriAg2010
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aunuwyn08 said:

My post was made well before that happened, and now given the SEC investigation I won't choose to expose myself to more GE risk at any price until that clears. I'm not selling my current position however since my time horizon is decades.


Whoops! I didn't see that was from December. My mistake.
CPDAggie10
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GE now under $15. Are we at the bottom now? Is anyone buying? or are they staying at these levels until they get it figured out.
IrishTxAggie
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CPDAggie10 said:

GE now under $15. Are we at the bottom now? Is anyone buying? or are they staying at these levels until they get it figured out.
I believe it still has some room to fall. Still no clear guidance plus the recent insurance hook they're on.
Dr. Nefario
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GE never intended to hold on to Baker Hughes. They wanted to dump GE O&G but no one wanted it, so the idea was that a combined GE O&G and Baker Hughes was more valuble than both separately and would be easier to get rid of.

It would have been a solid play if properly managed, but GE didn't have the management talent to efficiently integrate the complete **** show that was Baker Hughes and held on to too much of the upper management that made Baker Hughes a **** show in the first place. The move may still facilitate GE exiting O&G, but I doubt they come out ahead on the deal.
Ulrich
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I like buying companies that have dipped because of a one time event, a temporary industry downturn, or a market overreaction to bad news... not a company that has tanked because they screw up over and over again and don't appear to have a handle on the problem.
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