Reprioritizing
May 16th, 2008 at 9:59 am by Susie
And really, making bombs re-entry systems for bombs is so much more profitable:
FAIRFIELD, Conn. (AP) — General Electric Co. said Friday it plans to sell or spin-off its century-old appliance business.
The Fairfield, Conn., industrial conglomerate said in a statement the move is part of an ongoing plan to exit “slower growth and more volatile businesses.”
The company is planning a strategic review that could result in an outright sale, a strategic partnership or a spin-off to shareholders.
The Louisville, Ky.-based business, which makes refrigerators, air conditioners and ovens, generates most of its revenue in the U.S., leaving its results dependent on “the rise and fall of a single market,” GE said.
Bombs are obviously a key part of their “bringing good things to life” approach.
I always hear that “we bring good things to life” in a Peter Lorre-esque voice. It works so much better that way! (Followed by: “Attach the electrodes, Igor!”)
Hasn’t it been GE’s strategy for some years that they were determined to be #1 or #2 in any market that they were in, otherwise they’d sell out?
Because their appliances are ubiquitous, and often have good features, but are at the low end of the reliability range (IMO). This move may mean that the american consumer is wising up, or that the weak dollar has made *good* imported appliances affordable.
Good for the consumer; sucks for the factory worker. Assuming they haven’t already had their job shipped overseas.
this move may mean that the american consumer is wising up, or that the weak dollar has made *good* imported appliances affordable.
Actually, it works the other way — a weak dollar makes imports expensive. That condition should help domestic manufacturers.
Maybe GE would rather deal with government contracts than with consumers.
d’oh! You’re right Izquierdo.
GE’s been gearing up for this move for a long time. The Nation did a fair overview of the battle over GE’s high-end refrigerator plant in Bloomington, Indiana a while back. The union and management were told that they had to cut costs by a specific amount or else, the two sides worked together to make it happen, and GE shut them down anyway.
GE figures they’re too big to fail, and that one way or another Uncle Sugar will save their hides. My employer took over its major domestic competitor at that time because that was their mentality, and it left them eventually atrophied and unable to maneuver when things became difficult.