GE to sell off Appliance business

[kst$]

With GE doing all its appliance business primarially in the US its no wonder it is selling off the appliance portion of its business.

FAIRFIELD, Conn. (AP) -- General Electric says it plans to sell or spin-off its century-old appliance business.
The Fairfield, Conn., industrial conglomerate said Friday the move is part of an ongoing plan to exit "slower growth and more volatile businesses."

GE plans to exit appliance business

When most of your buisness now adays in generated in one country and that country is having money problems like I feel we are having now It is a struggle for any business to hold on.

[moneysense]

Hopefully by selling their appliance business, there will still be jobs for the people that now work there. It would be a shame if those jobs went by the wayside as so many other jobs have done.

This just makes me think that our economy is failing fast and that things here in the US will be getting even worse than they are now.

[pennypinch]

I hate to hear of an old company like this needing to part ways with part of it's business. This is just another example of how bad our economy is now and where it may be heading. I am glad they are selling and not closing so far. Way too many jobs are lost everyday as it is. I am sure some of the employees have been there for years and years and would probably have a hard time finding work elsewhere.