A Big Offshore Surge For Ge's Juice Factory

Keeping its edge in turbine technology is paying off handsomely

Executives at General Electric Co.'s power division had little to roar about during the Roaring Eighties. GE Industrial & Power Systems, the company's single-biggest profitmaker for much of the 20th century, was in a slump. Demand for electricity was falling precipitously, antinuclear fervor was on the rise, and margins were slipping. And within the GE empire, the power business lost its status to more successful upstarts, such as GE Capital Corp.

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