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General Electric continues to move forward on a long, bumpy road as it struggles to recover from its 2017 collapse. CEO Larry Culp, the first outsider CEO in GE’s 132-year history, continues his strategy of making the company simpler and more stable, focusing on four businesses: carbon-fueled power generating equipment, renewable energy, jet engines, and health care. All but renewable energy got walloped by the pandemic—especially the jet engine business, as airlines virtually shut down. GE has been gradually selling off its stake in the Baker Hughes oilfield services company and agreed in early 2021 to sell its aircraft leasing business, further focusing the company and raising cash to pay down debt.
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