I just found this article posted today, GE selling its appliances Unit.

http://dealbook.blogs.nytimes.com/20...ances-unit/?hp

The bad thing is they may sell it to Haier, LG, or Bosch. That would be a nightmare.

Since Whirlpool bought Maytag, I would like to see Frigidaire buy the GE appliances Unit.

Jake

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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.
Spokesmen for the Fairfield-based industrial conglomerate and Goldman Sachs would not comment.
GE last year took in $11.6 billion in its sale of its plastics division. Chief Executive Jeff Immelt has been under pressure to restructure the industrial and financial conglomerate, particularly since last month's surprising report that profit fell 6 percent in the first quarter.
At the time, Immelt brushed off questions about GE spinning off businesses. He said shortly after the earnings report that GE has already sold businesses valued at between $50 billion and $60 billion in what he called the "most active portfolio change in the history of the company."
Immelt also has rejected calls for GE to divest itself of NBC Universal.
GE entered the appliance business in 1907. Revenue for GE’s Louisville, Ky.-based industrial business, which includes appliance manufacturing, was nearly $17.73 billion in 2007, down slightly from $17.74 billion in 2006.
Total revenue for GE last year was $172.7 billion.

Hey Jake...how much you got in the Tip jar?? Maybe you could make a bid??!!??

I'll throw in 10-20 million.......buttons

jeff.

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Hmm, interesting...

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GE has threatened to sell the appliance division for years..They say it dosen"t make enough profit..I was able to hang in and get my pension but my son probably won"t as he became a GE tech about 2 months ago working in Vegas...I guess we"ll just have to see how this works out and who puts up the most money...Jim..

LOL, about enough to buy a GE Coffee Maker.

Any chance those buttons have a little gold in them?

Jake

__________________
Appliance Repair School 1987-1988
Star Appliance Tech. 2 yrs. 1988-1990
Wards Appliance Tech. 11 yrs. 1990-2001
Sears Appliance Tech. 4 yrs. 2001-Oct. 2005
Jake's Appliance Repair Nov. 2005-present

If you need more repair advice help on your appliance, click Here

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Shop Home Appliances

Yea, I know what you mean Jim, before I quit Sears in 2005, they were starting to scale back all the pensions for new hires.

Jake

__________________
Appliance Repair School 1987-1988
Star Appliance Tech. 2 yrs. 1988-1990
Wards Appliance Tech. 11 yrs. 1990-2001
Sears Appliance Tech. 4 yrs. 2001-Oct. 2005
Jake's Appliance Repair Nov. 2005-present

If you need more repair advice help on your appliance, click Here

Look-Up & Order Parts

Shop Home Appliances

Rumor in the industry is that Haier is certain to be interested based upon them trying to acquire Maytag before Whirlpool did. LG is another possibility, if for no other reason than to improve their position against their arch-rival Samsung. Either of these would introduce new-age Asian management culture into a traditionally blue-collar American company. Bosch/Siemens is another possibility, but the dollar/Euro situation right now makes this much less attractive for them.

Regardless of who wins the bidding, you can expect significant divestment of the GE Home Appliance business as a whole. The manufacturing component might be attractive to someone, but the Asians would likely find it inefficient and wasteful. The service business at GE is saddled with higher than acceptable costs due to unions, pensions, and a high-priced workforce.