GE's Power Outage Has Destroyed $100 Billion In Market Value
Why is the power business so bad? Too much supply, not enough demand. GE's main competitor in the power business, Siemens, is also seeing sharp declines in results at its turbine division, and that has led to intense price competition in the industry. At the same time, both companies are trying to reduce manufacturing capacity in their power divisions, a slow, costly process.
No discussions yet. Start a discussion below.