Charged Up: GE Shows Investors Its Energy Playbook
By Tomas Kellner – The acquisition of Alstom’s energy assets delivered $1.5 billion in synergies in 2016, $300 million above GE’s original five-year target for Alstom synergies, GE’s Chief Financial Officer Jeff Bornstein told investors at a conference in New York held by GE’s Power and Renewable Energy businesses last week. “Alstom makes us more competitive,” Bornstein said. “It broadens the service base and creates long-term incremental value.”
Jobs, cash, costs and software were the key themes at the conference. Bornstein said GE Oil & Gas was now “applying the same methodology” to its planned merger with Baker Hughes. “The businesses are very complementary,” he said. “It’s going to be a merger of equals.” Bornstein said he was “highly confident” the deal would “deliver a lot more value than $1.6 billion” in synergies by 2020, the target the companies released when they announced the deal last October.
Bornstein also talked about the need to speed up the shrinking of GE’s $25 billion in “structural costs,” which are funding support functions, R&D, corporate operations and other expenses. more> https://goo.gl/z07MkD
Posted in Banking, Business, Economy, Energy & emissions, Science, Technology
Tagged Business improvement, Capital, Energy, GE, Industrial economy, Productivity, Technology
By Tomas Kellner – Until now. GE is taking a second look at nimble robots that can operate in tough spots. Last year, GE Ventures invested in Sarcos Robotics, an innovative company developing robots for tasks that are too difficult or dangerous for humans.
“We are really focused on the part of robotics that is about human augmentation, as opposed to human replacement,” says Sarcos Co-founder and President Fraser Smith.
These are no assembly line robots, either. Ben Wolff, Sarcos chairman and CEO, says his engineers are building dexterous robots that can do meaningful work in unpredictable or unstructured environments. Echoing Mosher’s vision, the machines can navigate new surroundings and have “very fine motor controls that allow them to manipulate objects in exactly the same way you would with your arms if you could lift so much,” Wolff says.
One such machine, the remotely operated Sarcos Guardian S snake robot, can crawl inside and inspect steam pipes within a nuclear power plant or oil storage tank. “Rather than sending a human rappelling down an 80-foot wall to look for corrosion inside a petroleum storage tank, we can send the robot,” Wolff says. more> https://goo.gl/9pYRJh
Posted in Economic development, Economy, Education, History, Product, Science, Technology
Tagged Business improvement, GE, Industrial economy, robots, Technology
An Extraordinary Time: The End of the Postwar Boom and the Rise of the Ordinary Economy, Author: Marc Levinson.
By Marc Levinson – Between 1948 and 1973, Australia, Japan, Sweden and Italy had not a single year of recession. West Germany and Canada did almost as well. The good times rolled on so long that people took them for granted.
Governments and the economists who advised them happily claimed the credit. Careful economic management, they said, had put an end to cyclical ups and downs. Governments possessed more information about citizens and business than ever before, and computers could crunch the data to help policymakers determine the best course of action. In a lecture at Harvard University in 1966, Walter Heller, formerly chief economic adviser to presidents John F Kennedy and Lyndon B Johnson, trumpeted the success of what he called the ‘new economics’. ‘Conceptual advances and quantitative research in economics,’ he declared, ‘are replacing emotion with reason.’
The Golden Age was wonderful while it lasted, but it cannot be repeated. If there were a surefire method for coaxing extraordinary performance from mature economies, it likely would have been discovered a long time ago. more> https://goo.gl/oQN8FL
Posted in Book review, Broadband, Business, Economic development, Economy, History, Leadership, Media, Net
Tagged Business improvement, Government, Industrial economy, Jobs, Leadership
GE Just Turned the World’s Most Powerful Jet Engine Into A 65-Megawatt Power Plant
By Tomas Kellner – GE is taking the world’s largest jet engine and turning it into a power plant. The machine’s beating heart comes from the GE90-115B, which is the largest and most powerful jet engine, capable of producing 127,900 pounds of thrust, according to Guinness World Records. The electricity generator, which GE calls LM9000, will be able to generate a whopping 65 megawatts — enough to supply of 6,500 homes — and reach full power in 10 minutes.
The technology is also a good example of what GE calls the GE Store — the system of sharing technology, research and expertise among its many businesses. Today, aeroderivatives power towns and factories but also oil platforms and ships. more> https://goo.gl/dSwnhF
Posted in Business, Economic development, Economy, Energy & emissions, History, Product, Science, Technology, Transportation
Tagged Business improvement, GE, Industrial economy, Jet engine, Manufacturing, Power plant, Productivity, Technology
Critique of Pure Reason, Author: Immanuel Kant.
A History of Formal Logic, Author: J M Bocheński.
Principles of Philosophy, Author: René Descartes.
Summa Theologica, Author: Thomas Aquinas.
Meditations on First Philosophy, Author: René Descartes.
Port-Royal Logic, Authors: Antoine Arnauld and Pierre Nicole.
The Mathematical Analysis of Logic, Author: George Boole.
Begriffsschrift, Author: Gottlob Frege.
Principia Mathematica, Authors: Alfred North Whitehead and Bertrand Russell.
By Catarina Dutilh Novaes – The history of logic should be of interest to anyone with aspirations to thinking that is correct, or at least reasonable.
Descartes hits the nail on the head when he claims that the logic of the Schools (scholastic logic) is not really a logic of discovery. Its chief purpose is justification and exposition, which makes sense particularly against the background of dialectical practices, where interlocutors explain and debate what they themselves already know. Indeed, for much of the history of logic, both in ancient Greece and in the Latin medieval tradition, ‘dialectic’ and ‘logic’ were taken to be synonymous.
Up to Descartes’s time, the chief application of logical theories was to teach students to perform well in debates and disputations, and to theorize on the logical properties of what follows from what, insofar as this is an essential component of such argumentative practices. It’s true that not everyone conceived of logic in this way: Thomas Aquinas, for example, held that logic is about ‘second intentions’, roughly what we call second-order concepts, or concepts of concepts. But as late as in the 16th century, the Spanish theologian Domingo de Soto could write with confidence that ‘dialectic is the art or science of disputing’. more> https://goo.gl/iFCWw4