General Electric Loses Place in Elite Dow Jones Industrial Average
June 19th, 2018Disclosure: I sell solar power systems in New Zealand.
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Via: Reuters:
General Electric Co has lost its spot in the Dow Jones Industrial Average after over a century in the blue chip stock index, a new blow to a company that once towered over the American business landscape but is now struggling to retain its standing as an industrial powerhouse.
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A decade and a half ago GE was the world’s most valuable public company. But it foundered in several key industrial markets in recent years, and a diversion into financial services steered it into the eye of the global financial crisis in 2008.
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Immelt also built up GE’s exposure to manufacturing and servicing coal and gas-fired electricity plants, only to see demand for such plants fall dramatically in recent years as sales of suddenly cost-competitive renewable wind and solar systems increased.
Dark omen. I’ve thought about stranded, abandoned military bases, contemplated bank collapse, and lately tried to wrap my head around GE sinking beneath the waves. The ramifications are many and tangled.
Something I wonder about: Should the US fall or divide, something I don’t wish to see when I consider the repercussions of such a power void considering the current viers for global hegemony, what will become of its military tech, both deployed and whatever’s lurking in R&D?