GE announced today that it has completed the spinoff and merger of its Transportation business with Wabtec Corporation. GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. GE shareholders own about 24.3 percent of Wabtec on a fully diluted basis.
What if quiet flights from nearby airports could get you places much faster and for less than today ? What if air transit could be as simple as boarding a bus or a train today? Hybrid-to-electric aviation is poised to bring high-speed regional travel to thousands of communities starting in the early 2020s. Fast and carbon-free regional travel isn’t just a futuristic concept. Ashish Kumar, CEO Zunum Aero, describes what’s going to take flight in the next decade.
Investing in U.S. infrastructure may be one of the few bipartisan efforts that financial institutions, manufacturers, policy makers and workers can all get behind. The new Coalition to Modernize America’s Infrastructure is a diverse group that advocates four principles for a truly transformative infrastructure package.
“For many people, the power industry appears stable on the surface. However, a lot of changes have happened in the past five years - new technologies, especially digital technology, have come on stream; more renewable energy is coming online; and customers are also demanding empowerment. This will impact all players in the industry.”