Berkshire Hathaway Inc.’s $3 billion bet on General Electric Co. during the 2008 financial crisis is proving less profitable than similar wagers by Chairman Warren Buffett on Goldman Sachs Group Inc. and Bank of America Corp.
Ten years ago, Dennis Rocheleau sat across the bargaining table from General Electric Co.’s unions, pushing health-care cuts so deep they led to the first nationwide strike at the company in three decades.
America’s biggest employers, from GE to IBM, are increasingly moving retirees to insurance exchanges where they select their own health plans, an historic shift that could push more costs onto U.S. taxpayers.
General Electric Co.’s decision to hand control of the rapidly growing oil and gas division to Lorenzo Simonelli is fueling speculation that its youngest top executive is a leading candidate to someday run the company.
General Electric Co.’s burgeoning interest in oil and gas assets and a cash stockpile approaching the highest level in at least a decade is turning Dresser-Rand Group Inc. and Dril-Quip Inc. into potential takeover targets.