Used to work with a joint venture company called GE Harris. Was 51% GE (mostly the management) and 49% Harris (mostly engineers).
They are a so-so company when working in fields that have a substantial mark-up or cost a massive about of capital to be dominant in the field (for example GE Medical).
On the other hand, I found GE management to be grossly large in overhead raising operating costs making mid-to-low profit fields turn negative profit when they flex their GE "mentality". GE managers are shipped in from Erie. The GE managers then need GE assistants. The GE assistants then need 1-3 secretaries/underlings. The GE secretaries then need at least 1 GE runner/gopher...etc...etc. Over time most of the GE managers/overhead wind up doing nothing but sucking up cash in large paychecks while having their underlings or even sometimes new grads or interns making their presentations.
At GE Harris, the GE management got so damn bad that at one point I had 4 different managers I reported to at the same time within the same program.
Another of the GE management follies was them trying to place policies that are used in $100+ million dollar programs on $500k programs.
Also I found within the GE control structure that sucking up and playing office politics is the route to promotion and not hard work and technical smarts.
The joint venture company I worked at eventually went from a product with a good cash flow to constant profit loss due to the ever growing overhead of GE. Was eventually hit in the 5th layoff they had in 2001. Funny thing was that just the week before I got laid off, I received a 10% raise for above average performance.
Most of the layoffs consisted of terminating Harris engineers that had massive amounts of domain knowledge in the products made, while the GE managers never seem to get axed. During a layoff I say one manager that have 6 engineers under him?.all 6 engineers were axed but they kept the manager.
Personally I would only work again GE if it was the only choice left and unemployment was about to run out. Also I now boycott their products.