culp can do to pare down this portfolio are you done, larry?d, you know, as you know, i'm a lifelong student of the japanese concept of continuous improvement and when you have that mind set you're never done, but i think today is really putting our g-craft business in a position to benefit all shareholders and we get to pivot to that transformation with a more focused and simpler ge in mind and over time we will be focused on continuing to improve the performance of our underlying business, and as we do that, we will of course generate more strategic optionality, but i think today is really a focus on the business, and i'm excited to have a chance for everyone to see the ceos up close, see what they're doing, what their business is, and where they're headed. >> a lot of those ceos will be presenting right now actually as they continue to have their investor day, whether it's gas power, the power portfolio, or renewable energy, aviation, aviation services, health care, and on from there, but ge capital not going to be as much of a concern at le

larry culp has also done other surprising things the sale of biofarma.ook at this, to me, the focus is the leasing of airplanes. it just seems to be a regulatory nightmare in washington. how will the biden adminstration creek this transaction -- adminstration great this transaction? karen: i think the environment is clearly probably more difficult under biden, but i did defer to our aviation analyst expert, and he seems to think that the leasing business was quite a fragmented business, and there would not be a problem on a global basis. basically, it is a comp lament refit. -- it is a company fit. aircap is stronger outside the u.s., ge is stronger in the u.s.. it is a good mix. the fleet is come lament or he -- is complement three to a large part as well. at first glance, it looks like it should fly. lisa: you said you were sort of expecting this type of transaction, but the timing was a bit sooner than you expected. do you have any insight or expectations about why they decided to speed up the process? is it because of financing conditions or in expec

coming up, larry culp, ge ceo, today on "balance of power."loomberg. ♪ guy: live from london, i'm guy, with alix steel in new york. this is "bloomberg markets." gaming company roblox is set to trade at some point today, currently indicated at $60, $65. joining us is roblox ceo david baszucki with bloomberg's emily chang. emily: thank you for joining us. this is a big day for you. obviously, we are still waiting for shares to start trading, but i do want to ask you, ipo versus direct listing, i know you thought about an ipo in the past, how are you feeling about that decision at this moment, when ipos have been doubling and we are in such a volatile market? david: we thought about this a lot. we have a value around our community, taking the long view in respecting the community. what we are so excited about today is that everyone is coming together. our long-term employees, some of our amazing investors who have been with us for a long time and never really supported us. our new investors who we are really excited to bring into our community, a

just a short time, david faber spoke with larry culp about the deal he asked him why ge shareholdersng today, what we're doing is merging in a stronger aviation leasing platform over time, we'll monetize that stake. we wouldn't have done that today but gives an opportunity to invest in a stronger platform and over time realize those proceeds >> along with news of the aercap deal, ge is out with an earning outlook, a 15% to 20% share. we should note that today's deal will result in a near term now cash charge not in the forecast. ge is recommending shareholders approve a 1 for 8 reverse stock split. that stock up to 1403. you can see david faber's entire interview with larry culp on "squawk on the street. >>> breaking news from eli lilly as well. the company's cocktail was shown in alate stage trial to reducing the risk of hospitalization and death by 87%. this is a drug authorized in the united states. it was given in a trial to people newly diagnosed with the coronavirus who were at higher risk for severe disease. eli lilly shares up by 0.2%. >>> we told you about apple's big market

this management team, larry culp and the board, have, obviously, made real progress, changing g.e.sses. restoring the pride in g.e., the credibility to g.e this is now our culture that i would describe as one with humility and transparency and customer-centric the lean transformation is making g.e. faster moving, more efficient, again customer focused. we've paid down, what, 70 billion of debt since the beginning of '19/end of '18 and on our way to two and a half times leverage we have set g.e. up for long-term success and we are very proud of that at front line-trian, proud at the m management level we last year, some bank of new york, we sold like mason, invent to fund our new positions in asset management in comcast, which have done extremely well. >> let's get to them let's talk about investment management you raised as much as $1 billion with a long-term lockup, point to new purchases you own 8% of invesco, 9.5% of janice, those are the latest numbers i have what's the play here what are you trying to achieve are the long-term locked up money you have invested in the two key a

data centers want to be located where there's wind, and we forget we're more windy than sunny and larry culpthis stuff and i was trying to get him to do green hydrogen and he likes all of the other hydrogen, bus the turbine business, you know when ge will get to the 20s >> tell me. >> when they call them turbines and not turbines. >> and the green hydrogen thing didn't go over too well? why didn't you go to gamestop. you're always coming up with new business models for that. >> absolutely. i mean he keeps saying, and i sent a memo, hydrogen, and four weeks later, came back and said i'm sorry, i didn't look at it. >> green hydrogen will not be it. >> he's a realist. i'm a dreamer. >> green eggs and ham, i don't want to get into that. >> david, i'm sorry. >> what? >> he was a real left wing guy, you know. >> who >> geisel? >> he was great. if you watch that, did you ever watch, it came back to an unbelievable special. >> look, he was the most left wing so we may not, we may not thing that he's right right now, but at the time -- >> it's his determination that made that decision. >> that's true

general electric merging its aircraft leasing unit with aercap in a $30 billion deal here's what larry culpoday. >> ge shareholders should be delighted with this transaction. with a $30 billion headline, what we're able to do here is bring cash in, again, 24 of cash, a billion of additional consideration, which will allow us to put that towards additional debt reduction. >> this is one of the steps culp has taken to reduce the debt on ge's balance sheet and turn around the industrial giant. the stock has rebounded more than 140% from last year's low the trading nation team join me. the stock has been on a tear over the past quarter, michael, how would you characterize the selloff in the stock today is it sort of sell the news? >> i think it is a little bit sell the news. when you think about it, culp and his predecessor, mr. flannery, have done a great job in restructuring they had four tasks, they're shedding assets, paying down debt, focusing on their core businesses and they're getting their underfunded pension fund healthy. i think as ge gets smaller, the market will like it more and mo

the ceo, larry culp, also con firming the company will eventually sell its stake in the new combo withut boeing jumping 6% into the close. >>> breaking news, president joe biden speaking in the south court auditorium right now. he has just announced that the government will buy 100 million doses of the johnson & johnson one-shot coronavirus vaccine. j&j's ceo and merck's whose company is partnering to speed up the vaccine, both speaking. so let me take it to larry kudlow who's joining us now. larry, this is an important announcement. we're ramping it up, right? larry: the only stimulus there is. all this other stuff that got signed today in the house is irrelevant. vaccines will reopen the economy and schools and stimulate the economy. big, very big. i applaud. liz: yeah. larry: and i'm sure president biden has said that this was all done on the shoulders of president trump's operation warp speed. i'm sure that was in his -- liz: operation warp speed. larry: don't you think, liz? liz: absolutely. larry: today will be a breakthrough. he'll actually give trump credit. liz: yeah. and i ha