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GE to shrink, investors worry it will be less profitable

Reuters 

By Alwyn Scott and Ankit Ajmera(Reuters) - General Electric Co's new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focussed company, surprising some investors who sold the company's shares to a five-year low. Flannery's plan to shrink GE's multi-industry array of businesses was a reversal of the deal-driven empire building of his predecessors, Jeff Immelt and Jack Welch, and potentially a milestone in the decline of the conglomerate as a business strategy. Other companies that once emulated the GE model ...

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First Published: Tue, November 14 2017. 03:15 IST
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