History
A company-wide reorganization prompted by financial losses led to the unit's formation in 2008 from companies within GE Infrastructure.
On March 29, 2011, GE Energy announced plans to acquire a 90% stake in Converteam for $3.2 billion.
By the end of 2012, John Krenicki stepped down as president of GE Energy in a move to break the energy businesses into the following three independent sub-businesses:
- GE Energy Management
- GE Oil & Gas
- GE Power & Water.
This is seen as an effort to drive simplification and visibility in GE.
Read more about this topic: GE Energy
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“History is not what you thought. It is what you can remember. All other history defeats itself.
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Idealism is the despot of thought, just as politics is the despot of will.”
—Mikhail Bakunin (1814–1876)
“The disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.”
—Gilbert Keith Chesterton (1874–1936)
“When we of the so-called better classes are scared as men were never scared in history at material ugliness and hardship; when we put off marriage until our house can be artistic, and quake at the thought of having a child without a bank-account and doomed to manual labor, it is time for thinking men to protest against so unmanly and irreligious a state of opinion.”
—William James (1842–1910)