Sad indeed, Rab.
WOW! I think we only paid around $200 for ours when I was a kid.
The great American company that built things is a thing of the past. Most household and brand names are kept but the product is usually Chinese.
It’s hard to say in today’s terms how much Westinghouse was worth.
You can say something like “12 Apples”.
I mean Westinghouse was BIG.
My first job 25 years ago might have been with Westinghouse but I went to RCA. I was pretty proud to have options to join two of the biggest and most storied engineering firms in the country. Now neither even exist in reality. Indeed I think most of the major engineering giants of the mid 20th century exist now only as a hollow brand name owned by someone else to make their crappy cheap products seem to have some gravitas. Someday this is probably the fate of companies like Apple and Microsoft. It’s how these things go.
I worked for Westinghouse for over 20 years. Far as I know, the nuke business was the last one that still called itself “Westinghouse”. Ol’ George deserves better.
One of the Pittsburgh papers ran a series of articles called “Who Killed Westinghouse?”. Was from the time when journalists actually researched their stories and wrote them to inform rather than to indoctrinate. It detailed each CEO from the 70’s on and how their poor decisions destroyed a great company.
Why is this in sbr?
* U.S. Patent # 2,433,960, granted January 6, 1948
Better these Canadian guys than the CHiComs.
IIRC, the only new nuke power plants that we are building in the US, are Westinghouse models (new reactors at existing sites). The Chinese are building some too. Operations and maintenance will continue for decades on the installed base.
Brookfield may sell stake in Westinghouse
27 April 2021
Canada-based Brookfield Business Partners is exploring options including the sale of a minority stake in Westinghouse Electric Co, Reuters reported on 23 April citing “people familiar with the matter”. The sale could value the U.S. nuclear power developer and servicer at as much as $10 billion including debt, Reuters noted
Brookfield agreed to buy Westinghouse from Toshiba for $4.6bn in 2018, after Westinghouse filed for bankruptcy in March 2017. This followed long delays and cost overruns at the Vogtle and Summer nuclear plants in the USA, for which it was supplying AP1000 reactor technology. Westinghouse has changed hands several times since it was founded by George Westinghouse in Pittsburgh, Pennsylvania in 1886,
https://www.neimagazine.com/news/newsbrookfield-may-sell-stake-in-westinghouse-8703041
New investor from US or from Korea (KEPCO?)?
Westinghouse committed suicide back in the 80s.. just too another 40 years for the corpse to stop flopping around..