Weekly Wisdom 25 August

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A dialogue

Perspectives on Life, the Universe and Everything

ask for more,
ask for the dear symphony,
say I accept your words oh dear darling,
now put some random passionate love and lust,
let’s travel the world while sitting in each other’s arms,
let’s see the universe in a blink,
In each other we sink
fly to the sun,
Just as it sets in the sea
smile till we sleep,
laugh till we weep,
long each other’s body and soul,
the whole, nothing is left untouched
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Baker Hughes, A GE Company

A compelling, transformational combination

 The best partner to Oil & Gas customers … offering solutions based on
complementary equipment & services technology across the full spectrum
of the oil and gas value chain

 More innovative solutions to market faster and more cost effectively …
Baker Hughes’ leading products and services with GE Oil & Gas highly
differentiated manufacturing capabilities

 Best-in class physical + digital technology … combine Baker Hughes
domain expertise, technology and culture of innovation with GE Store and
GE industry-leading Digital Platform

 Value creation for customers and shareholders … positioned to weather
short-term volatility and participate in industry upcycle

Impact for Baker Hughes shareholders

 Ongoing ownership in a stronger, more competitive
business

 Cash dividend of $17.50 per share equal to 30%+ of
undisturbed share price

 Participation in substantial value creation through
synergies

 Revenue growth driven by increased customer touch
points

Deal overview

Merge GE Oil & Gas with Baker Hughes … GE owns 62.5%, new Baker Hughes owns 37.5%
+ Create new, publicly traded company with separate investor base
+ GE to contribute $7.4B to fund cash dividend to Baker Hughes shareholders upfront
+ Close expected mid-2017 … ~$.04 accretive to GE EPS in 2018

Combination of GE Oil & Gas & Baker Hughes establishes a new industry leader
+ 2x scale, complementary capabilities, more diversified
+ Can weather the cycle in short term & over time; significantly levered to recovery

Platform is positioned to deliver substantial customer value
+ Technical solutions  productivity
+ Best digital platform
+ Global execution

Synergy opportunity is substantial … cost and revenue
+ ~$1.6B synergies (~$1.2B cost & ~$0.4B revenue)

Disciplined capital allocation … O&G long-term fit for GE
+ Essential industry & fits GE Store

Efficient transaction structure using like-for-like equity with modest cash outlay
including disposition proceeds

See More about this transaction

Judge Approves ‘Historic’ $265M Settlement In 2015 Amtrak Derailment

A federal court judge in Philadelphia has signed off on a $265 million settlement program for all pending claims in connection with the May, 2015 Amtrak Train #188 derailment.

Lawyers involved in the Amtrak 188 litigation believe it’s the largest payout of its kind in the US, since the federal damages cap for railway accidents was previously $200 million.

Victims will be compensated now, rather than the 3-5-years he estimates it would take to litigate more than 125 pending cases.

Investigators looking into the Amtrak 188 derailment concluded that the engineer accelerated the train to 106 miles per hour, instead of slowing to the 50-mile per hour limit on that dangerous curve. They say he lost his bearings likely because he was distracted by radio talk about a SEPTA train struck by rocks.

In The Spirit Of The Holiday

The Tony Burgess Blog

In the spirit of Halloween and Christmas perhaps adults can remember what it was to be a child. This is a time when they can use their imagination, pretend to be someone else and to have some fun. Maybe we can rediscover a sense of wonder and play…perhaps a some innocence too. There is too much about life we take to seriously but sometimes we need to let our hair down and have some peace in the chaos.

Happy Halloween everyone.

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