:

Business/Financial

Aviation Business To Remain With GE As Corporate Giant Plans Breakup

By Cal Biesecker

Tuesday, November 9th, 2021

SHARE:

Aviation Business To Remain With GE As Corporate Giant Plans Breakup

H. Lawrence Culp, chairman and CEO of General Electric. Photo: General Electric

General Electric [GE] on Monday announced plans to split into three separate companies starting in two years with the $22 billion aviation business retaining the legacy parent name, allowing it to better focus on its commercial and military aircraft engine development and production programs. H. Lawrence Culp, chairman and CEO of GE, said the pending breakup is a "defining moment" for the $72 billion multi-industrial company that has a legacy dating back 125 years. Culp will continue to lead the…

Congress

Senate’s CR Has Ship Construction Exemption, Forgoes White House’s Battleship, Munitions Requests

The Senate on Sunday released a bipartisan stopgap funding proposal to keep the government open through December 11, which would also secure additional funds to support ongoing shipbuilding efforts and […]

Congress

U.S. Fighter Fleet Will Expand By 2040 But More Stealth Aircraft Will Mean Less Availability, CBO Says

The number of fighter aircraft in the U.S. military inventory will decline over the next few years before expanding to a greater number than currently, but their availability for operational […]

Congress

White House Details ‘Concerns’ With Shipbuilding, Spaced-Based Interceptor Oversight In House’s NDAA

The White House has detailed “a number of concerns” with the newly-passed House version of the next defense policy bill, to include the legislation’s limits on procuring Navy ships built […]

Congress

House Narrowly Votes To Pass $1.15 Trillion FY ‘27 NDAA, Blueprint For Reconciliation 3.0

The House on Wednesday narrowly voted to pass its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA) and a blueprint for a third reconciliation bill […]