Wabtec GE merger article from the Pittsburgh Post Gazette. While not the best for the GE employees affected, I personally think it is much better than a spinoff such as what GE is doing with Healthcare which will end up being burdened with billions of dollars of debt the parent is loading onto them. This seems to be one of the best options for the long term survival of the Transportation division. Still sad the parent doesn't see the value in close to a billion dollars a year profit (the second highest percentage wise in all of GE) because the division is in a down cycle. With GE it's all about short term gains such as when they sold their tech to China. Now they complain about competing with them.
'The stars aligned': Wabtec CEO explains fortunate timing of $11 billion deal with GE Transportation
In his first public comments since the announcement, he called the deal a “blessing” and “unprecedented” and a “once-in-a-lifetime opportunity” in which “the stars aligned.” While CEOs are expected to lavish praise on deals they have negotiated, there are reasons to take Mr. Betler’s enthusiasm seriously.