Struggling GE announced Monday it plans to exit the new build coal power market -- meaning it won't build new coal-fired power plants -- making it the latest major company to dump coal. GE said the exit may include asset sales, site closures and layoffs. Larry Culp already saved GE. He'll make $230 million if he can revitalize the companyThe move marks a dramatic reversal for GE.
Read MoreThe decision marks the latest major shift by GE, which in recent years has reached deals to sell its century-old locomotive division, reversexe its takeover of oil-and-gas giant Baker Hughes , sell a major healthcare unit and even dump its iconic light-bulb business.But GE is not completely cutting ties with coal -- at least not yet. The company will continue to service existing coal power plants as well as build turbines for nuclear power plants.
They will be back
cnn is now the largest coal business....
GE said pwease stop dumping our stocks 🥺☹️
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There goes Trump's promise of bringing back work for coal miners.
Capitalism is saved. Thank you GE. And thank you CNN for the puff piece acting as a GE p.r. arm. Also... This.
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Nuclear? We need nuclear energy.
About time. We are past the point of no return now.
Do they have cobalt/lithium investments in Africa? Most of the “green energy” elite corporatists, want us over that barrel. Last decade, it was the oil barrels. I mean, how DARE we, produce our own energy, for our own transportation, apart from globalist control?
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Great. Now if you could just get yourselves and *every* major industrial company (those infamous 100 that are responsible for over 70% of our pollution) to commit to reducing output by 45% by 2030, that would be great. And please push Biden to commit - now - to that plan.
One wonders whether the decision was environmentally driven or due to diminished demand for it. If the first, GE is to be commented. If the second, environment activists are to be commended for raising environmental awareness. The two motives are not mutually exclusive.
Whaaaaaaaaaa 👏🏾👏🏾👏🏾
Dear CNN, can you just for 1 freaking day try and be a non biased news organization! Just one day you can't even do that can you? No one there is a journalist any longer! You have been known as the anti Trump Network and that is the truth! You could not be fair and balanced ever!
Rubbish talk 🙄
Thank god
Right on!
Well actually they've already shifted their business to a complicated moving of money through finance speculation.
I don’t believe it. They’ll spin it off to a partner to reduce employee wages and benefits. There’s too much money in providing the parts to keep plants operating.
NUCLEAR POWER HERE WE GO!
Finally! Clean and renewable energy finally making some more sense? Guess they realized that all the money they were making off fossil fuels was just gonna burn in the wildfires.
Better late than never, I suppose...
Again?
Coal jobs r so yesterday
Will believe it when it happens.
Imaginense aca gobierno y CFE quedandose sin proveedores.
Trump and his Tards gonna cry a river on this one
GE also made the nuclear plant in Japan that was destroyed by the tsunami and continues to dump radioactive material in the ocean.
Everyone is making these changes when it’s already too late
That's great, but it may be too late. Is the world going down from climate change?
first memorial
Sun & Wind : We've been here all this time.
But, but Trump said he was bringing back coal? He never would have lied surely?
fake news
These companies haven't had much credits in the past few decades. They're going to have to earn a lot of credits, especially with what they do and say, in order to attract people's attention, and more importantly, to keep surviving in the brutal market.
But Trump was gonna bring all the coal jobs back...
The rape of Earths resources continues.
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Great decision taken by General electric, instead of coal powered plants now switching to natural gas,solar energy & wind energy.USA COVID19 coronavirus World SiddharthaDhap
GE notifies its shareholders it's going out of business.
MayneReport
Thank U
Oh that will make crazy Donald mad. He hates anything that’s good for the environment and bad for his pockets.
Fake news. Coal will still be around for a long time. Sun, hydro, wind still not enough to sustain the world. Nuclear has the potential, but no one knows what to do with the wastes.
Nancy Pelosi just said Democrats could impeach President Trump 'every day of the week, for anything he does' Democrats only care about power and obstructing Trump. This is what we're up against. Vote accordingly.
Oh but the massive amounts of NEW MINES ONLINE, oh wait a minute....THIS TOO WAS A DONALD TRUMP LIE! NOT ONE SINGLE MINE WAS OPENED, NOT ONE!
Like, you know, 50 years too late.
Coal never was fuel of future like fool Trump insisted. Instead of putting $s into retraining of coal industry personnel to transfer into good jobs in renewal energy, Trump sold false hope when he knew there was little hope-It again was sacrificing lives 4 his own political gain
Love to hear this!
Lol. They have been producing turbines for decades!!! So what’s new? Nothing!!! And let’s check into those government contracts!!!! What Politicianis making $$$ ?
Biden says President Trump fans the flames of violence...what were you doing by not condemning it for three months?....you did that.....
👍
Go woke, go broke
About time!
Trump will make a whiny tweet about this soon ...
Trump: 'YOU'RE KILLING COAL JOBS AND THE PLANET!!'
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Huge
this is great!!! a cleaner planet is what we and our children need!
Proved Trumps coal strategy isn’t working in the real world. Pandering to people desperate for work and selling them a bunch of Bull only hurts in long run. Coal miners needed hard truth. Your industry is going the way of horse and buggy. Adapt and the government should help
Way to join the 21st century
Sounds good got the natural gas and other alternatives
That’s how climate change is done. Not by taxing the taxpayers
Fake news look who put it out
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by when? another 200 years?
Trump is not going to like this.
Need batteries in every home
But trump says coal is the future
My dad worked for GE in the 1980s designing flue scrubbers which clean the air (which we all breathe) from these plants. There was less of a market for them with a Republican president
In other words: Your power bills are about to go up. Way up!
Hope they actually do it and others fall in line. This planet has been fucked over immeasurably by the human race and everyone needs to do better.
We can do this despite realDonaldTrump !
These changes are happening in all large energy producers . They know the future is in clean energy and the creation of new manufacturing jobs in that sector will be good for a young generation of families .
But I thought science didn’t know? Didn’t our great president say science doesn’t know?
The alternatives are not as efficient as burning coal and they know this.
I won’t believe it until we have all electrical comercial planes!
You mean washing the coal to clean it (like 45 said) wasn’t working? (sarcasm)
I was told Trump was saving coal
Fck me! That only took like...Forever🥴
It’s about time !!!!
Tic, tic, tic..... Just waiting for realDonaldTrump's bombastic response to this announcement and how it'll kill real American jobs.
Thank heaven!
But..but...clean coal!
Cause the BS of “clean coal” is a lie and anyone who says differently is full of it. ClimateChange
I will follow back if you InsistTrump MAGA2020
When the Corporation is ahead of its government you know it’s the end of the damn world 🌍
But will MoscowMitch still blame Obama for this most obvious 'War on Coal' ? Magic 8 Ball says 'Yes.'
But Trump said the US coal was so clean. Someone tell them quick.
Nuclear power (when done properly) is the most economical and environmentally sound at this point in human history. Wind and solar is such blight on the environment and a Harvard to wildlife.
Why do they all wait so long to 'see the light'. You think it might have anything to do with keeping their salaries, bonuses and stock options high. Increasing costs would lower their income so they punish the whole planet rather than make changes.
Trump will announce that 'some things are going to start happening to GE.'
Oh, well. I guess that sucks for the coal miners in Kentucky and West Virginia. Fuck them.
Like natural gas It’s very clean
Anyways mother earth is the last hope for mankind. No other place to go ... May all industrialist think rationally and implement green energy projects ASAP.
Somewhere there is a Trump supporter or Trump himself having an aneurysm over this.
Only doing it to help the stock price. No more money in coal
About time for a company with electric in its name.
even the power companies are seeing the light in regard to climate change.......which illuminates the ignorance of the climate deniers...(puns intended)...if there wasn't money in it, companies like GE sure wouldn't be flipping the switch......
realDonaldTrump was going to be the savior of cleancoal ha! the so called silentmajority which in reality are a minority of fascist misanthropes are all suffering for their maga demigod, corporations are not the friends of the silentmajority; socialism is, thin the herd...
thank you GE 🇺🇸
The world will get there sooner or later. There is money to be made by being the 'clean energy' market leader best to be there when the time comes.
RE Israel: Coverage remains biased and stuck in past. Where's the counterpoint? e.g. 'Middle East agreements brokered by Trump present opportunity for Biden if he wins election.'
Terrific news!!
Do not let realDonaldTrump know, he will not be happy.
YES!
'plunging solar and wind costs have renewed pressure on utilities to turn to renewables instead' Though fear of change is a driving force in the American psyche, capitalism remains an even stronger one... In this case it's a good thing.
GE has gone down hill for years. Instead of growing, they are always selling off business.
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