GE's final split cleaves a fallen corporate empire [Yahoo! Finance]
ALSTOM UNSP/ADR (ALSMY)
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Source: Yahoo! Finance
It spun off its healthcare arm last year, and the final split happened Tuesday morning, when its energy business started trading under its new name, Vernova — a very modern corporate portmanteau for a new age. Know More GE at its height was a titan that touched nearly every part of the economy. It produced refrigerators, X-ray machines, jet engines and wind turbines; it financed car loans and credit cards; and it influenced culture through its ownership of NBC and Universal studio. It has shed many of those businesses, along with jobs and back-breaking debt, under CEO Larry Culp, who was brought in after a string of disastrous deals and financial mismanagement washed out his two predecessors and reshaped the legacy of GE's most famous CEO, Jack Welch. Its remaining parts — healthcare, energy, and its legacy aerospace business, which still trades under the GE ticker — are worth about a third of Welch's empire at its peak. Notable NYT's David Gelles on the legacy of “Neutron J
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