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Immelt to Wall Street's Blackjack Dealers: Hit Me!

Posted on May 16, 2008

GE May Shed Storied Appliance UnitBy DANA CIMILLUCA, CAROL HYMOWITZ, MATTHEW KARNITSCHNIG and RICK CAREWMay 15, 2008; Page A1General Electric Co. is preparing to sell or divest itself of its century-old appliances business, one of the best-known American consumer brands, as Chief Executive Jeffrey Immelt seeks to revive his weakened conglomerate.GE could receive between $5 billion and $8 billion from a sale of the business, according to people familiar with the matter. A sale would come as the company faces pressure to trim a portfolio that ranges from credit cards to aircraft engines to telev...

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