GE Confirms Appliances Soon To Be History (GE)

General Electric Co. (NYSE: GE) has confirmed that it is reviewing strategic options for its Appliances business operations.  Three possibilities were noted for the unit:

• a strategic partnership or joint venture;
• spin off;
• or the sale of the business.

GE’s Chairman & CEO Jeff Immelt said that it has exited slower growth and more volatile businesses and generated $52 billion in gross proceeds from those dispositions.

Well, when you have Ecomagination, GE Oil, jet engines and services, medical tech, key finance operations, and more, maybe kicking out the appliances operations will let the company get closer to that old target of 20% return on capital.

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Jon C. Ogg
May 16, 2008