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As Immelt Bows Out, GE Shows the Stench of Oil Is Hard to Escape

  • Gas-turbine manufacturer also sees pressure in power business
  • Share decline makes company the biggest loser on Dow this year
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GE’s Immelt Can’t Escape Stench of Oil in Swan Song

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In his final days atop General Electric Co., Jeffrey Immelt still can’t throw off oil’s stink.

In his farewell earnings report, the chief executive officer ended his 16-year tenure by telling Wall Street that GE’s earnings are likely to be disappointing the rest of this year. The culprit: sputtering energy markets.