This month, Flannery was replaced by former Danaher chief Lawrence Culp, whose first order of business was to shed GE's once juicy dividend. The dividend reality check and Culp's immediate focus on improving the company's balance sheet underscore just how big the company's problems are. This quarter, GE recorded a $22 billion impairment on its ailing power business, which has driven the company's $30 billion in losses over the past four quarters. Now, in splitting apart the power business, Culp is targeting GE's biggest source of weakness. GE's dividend, once the pride of corporate America, is now a payout in name only.

Source: Forbes October 30, 2018 15:30 UTC