The investigation adds to the pressure on GE, which is already contending with one of the deepest slumps in its 126-year history amid cash-flow shortfalls and declining demand for its gas turbines. Culp, who was appointed in a surprise announcement Oct. 1, also unveiled the first steps of his turnaround plan, with a major dividend cut — to a penny per quarter, from 12 cents — and a reorganization of the company’s power division. He’ll also have to deal with federal investigators.

Source: Los Angeles Times October 30, 2018 14:15 UTC