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General Electric – getting out of the appliance business forever

By Yahoo! News – May 14, 2008

FAIRFIELD, Conn. – General Electric Co. plans to auction off its appliances business, The Wall Street Journal reported Wednesday.

GE has hired Goldman Sachs Group Inc. to run an auction for the appliance division, according to the newspaper, which quoted unidentified sources.

The sale could yield between $5 billion and $8 billion, the Wall Street Journal reported.

G.E. entered the appliance business in 1907

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May 14, 2008 Posted by | Commentaries, In the news | 1 Comment