Behind the Money GE Vernova tries to shake its parent’s problems
May 14, 2025
Amanda Chu, a former US energy reporter for the Financial Times, dives into the transformation of GE Vernova after its split from General Electric. She discusses the strategy behind divesting $20 billion in assets and the company's revival as a profitable entity. Chu explores the challenges of implementing lean manufacturing and the impact of AI on electricity demands. With a historical lens, she reflects on Schenectady's struggle to adapt after GE's decline, highlighting the community's connection to its industrial roots in an ever-evolving landscape.
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Schenectady's GE Legacy
- Schenectady's economy was historically tied to General Electric's fortunes for many decades.
- Amanda Chu describes the plant as massive and a critical part of the area's identity.
GE Vernova's Turnaround Success
- GE Vernova has significantly improved since splitting from General Electric last year.
- Its share price has more than doubled and orders extend through 2030 due to rising power demand.
CEO Scott Strzeck's Background
- Scott Strzeck joined GE right after college and has never left, climbing the ranks for over two decades.
- He grew up near Schenectady and is deeply connected to the Rust Belt manufacturing legacy.
