INSUBCONTINENT EXCLUSIVE:
once revered as a model of corporate excellence.
While the decision to put Walgreens Boots Alliance Inc
of the worst slumps in its 126-year history
The shares have lost more than half their value in the past year as the Boston-based company struggled with a host of problems, from weak
demand for industrial equipment and cashflow challenges to grumbling from an activist investor and an accounting probe by US securities
the benchmark formed in 1896, with GE joining the likes of Distilling Cattle Feeding, National Lead, Tennessee Coal Iron and US Rubber
GE briefly left the index, but has been in it continuously since 1907
Dow overseers said the inclusion of Walgreens reflects economic changes emphasizing consumer and health-care businesses.
GE brushed off the
around levels not seen since 2009
Stocks that have been removed from the index recently have typically outperformed the rest of the Dow over the next 12 months, he said in a
note.
GE could certainly use the help
and cut costs as the company grapples with debt challenges and flagging demand
