General Electric cut its dividend in half and is restructuring to focus primarily on three units. Industrial analyst Brian Langenberg said on CNBC’s Squawk Box – To really turn this company around operationally and culturally, it’s going to take CEO John Flannery — if he does it right — five years.”
For years the company overpaid for acquisitions and crippled its cash flow.
GE’s market value is down to one third of its peak in 2000.