May 15, 200817 yr Good-bye to GE Appliances A lot of folks within GE are no doubt feeling nostalgic about the prospect of losing an iconic part of the portfolio. But, from the moment Immelt stepped into the job, he recognized that the company?s appliance business was ultimately destined to be a thing of the past. The housing boom just allowed him to put off the decision for a while. THis is ending more than a century in an industry that helped make GE a household name GE, the biggest maker of appliances for new U.S. homes, hired Goldman Sachs Group Inc. to explore options that include a spinoff or auction. Prices for some appliances haven't increased in more than half a century. In 1953, an 11-cubic-foot refrigerator was advertised for more than $500. Today, an 18.2-cubic-foot GE model lists for as little as $519 on the web. http://www.globalarray.net/user/cardboardstars/ge7aplliancesxmas.jpg I guess GM will be next :thumbsup:
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