The GE Brief: October 10, 2022
This week marks four years since Larry Culp became GE’s chairman and CEO. In a note to employees that he also shared on LinkedIn, Culp looked back at the company’s accomplishments and progress made over that period — from reducing debt by nearly $90 billion to instilling a lean mindset —?and also looked ahead to what 2023 has in store. Read more?here.
James Krebs was 22 when he started working for GE as an engineer in 1946. His salary: $56.25 a week, paid in cash. He went on to help develop some of GE’s most important jet engines and was among a group of aerospace visionaries who propelled the world into the jet age. Krebs died last summer at the age of 98. In a moving article?here, his daughter Leslie recounts her dad’s remarkable career. “He’s mythic in the history of GE aviation,” said a former colleague.
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Twenty miles west of Zurich, the Swiss Federal Office of Energy and GE are preparing to install eight GE TM2500 gas turbines to help meet the anticipated demand for electricity this coming winter. As the continent endures war, drought, and a general shortage of available power, Switzerland is taking action to ensure the country has the electrons it needs. Read the story?here.
GE Research engineer Mark Frontera always felt that his work mattered. His job was studying how to improve computed tomography (CT) technology to help doctors diagnose patients sooner and treat them more effectively. What he didn’t foresee was that his 4-year-old son would become one of those patients, diagnosed with stage 4 neuroblastoma. Ten years on, we have their inspiring story?here.
—?Quote of the Day?—
“Business is a team sport. Over the past four years, our GE team has proven that to be true time and again.”
—? Larry Culp ,?chairman and CEO of GE, CEO of GE Aerospace
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Mr. Culp is exactly spot on business is a Team Sport. GEs meritocracy and best and brightest college hiring defeats the team aspect of business by promoting self centered individual accomplishment at the expense of the business. GE would have been a better business without the Welch/ HR bs of individual focus vs team accomplishment.