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Hello and welcome to the Baron Streetwise podcast. I'm Jack Howe. The voice you just heard

that's Larry Colt. He's the CEO of General Electric. GE is one of those companies where everyone

knows the name, but many people have lost track of exactly what they do. Is it washing machines,

light bulbs, television. GE doesn't do any of that stuff anymore. With Larry at the helm for

close to three years now, GE has narrowed its focus to four main businesses, power, aviation,

healthcare, and renewables. It has divested some other businesses and used the cash to reduce debt

and shore up its pension. And the stock prices begun responding. This episode is the fifth in a

series of six chats I recently had with top CEOs. And we're putting them out of short episodes

with limited narration to per week. We'll return with regular episodes next week onto GE.

GE has been talked about as a turnaround candidate for more than a decade. In 2018,

its worst performing business, power, burned through billions of dollars in cash.

That year, GE brought in Larry Colt as CEO. He had led a successful transformation at another

industrial company, Dana Hurr. Larry quickly took a massive accounting write down, which was

assigned that GE was ready to face structural problems that it had put off for years.

It has since cut costs and debt and sold or exited by Opharma, lighting, and coal-fired power

businesses. The merger of its aircraft leasing business with double-in-based air cap freed up

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