$GE Aerospace (GE.US)$ I had a small contract a few years ag...
$GE Aerospace (GE.US)$ I had a small contract a few years ago with GE aviation. At the end, I sent them a $300 expense bill I needed to collect. Cost me over $1,000 and 6 months to collect, as we chased paperwork through one subcontractor after the other, after the other. My best guess is it cost them at least $20,000 to pay that $300 bill (probably more). I learned, cash in advance, no matter how famous the company might be; and that the bigger the American company is, the more grossly inefficient they are. Break them up!!! There is a lot of value in that company being smothered by their own size. They are like a beached whale that can not support their own weight.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
KaalBhairav : now 3 so they will be faster n more agile
t1i5xTWxyB : Years ago I worked for IBM that was notoriously late in paying contractors. One day, I happened to run into their CFO in the hallway. After exchanged pleasantries, I asked him: "Question -- Since when did IBM conclude that guys like me should finance your working capital?" He was briefly caught off before he started to laugh. They always paid on time after that.
BBHmissing : And yet, we see Amazon, Apple, Google, Tesla conglomerating with the market rewarding those companies.
Stay by myself BBHmissing : My sense is those are not disparate businesses within the meaning of the word "conglomerate"
what doyouwant BBHmissing : Agreed. AWS has nothing in common with Whole Foods, Solar City with a car company, etc.. But the fad of the moment is to ignore the tech conglomerates. Give it ten or 15 years and they’ll be breaking apart but meanwhile, no…
I am robot what doyouwant : I'm not sure about "nothing in common". Whole Foods and drone car delivery might be extensions of their fulfillment model. In any event, thanks for chiming in.
70696541 : unfortunately that happens too many times, across industries.
many large companies leverage their size to take advantage of their suppliers.
they ask for favorable payment terms, use pie in the sky numbers to negotiate low prices, threaten to switch suppliers if you do not comply, sometimes also drag their feet making payments too.
the thing is, if you do not like it, there are plenty of others would be happy to take your place.
and, share holders reward the big companies for their behaviours.
many small companies were lured in & driven out of business.
it's the business culture.
but, we all know that, so there is no surprises.
Never Get Emotional : like the government's to much
B.S. it is better to take your lost and move on . if you take a look at your time spent . on that B.S .you probably lost
$ 3000.00 in time and effort pick your Battles
103126956 : yes, very low effiency this company , those technicians can hold output for overtime with ten hours.
103126956 : very very low productivity becourse of their workers like OT.