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Ge To Dump Finance Arm To Focus On Actually Doing Something Productive

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G.E. to Retreat From Finance in Post-Crisis Reorganization

G.E. will sell most of its finance arm, focusing on its core industrial operations as it completes a transformation begun during the financial crisis.

An interesting move, to actually try and making products that what people want rather than making money by lending money.

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I see it as 'we've killed this' and so will move on, to kill..... something else. :ph34r:

Just to add, GE finance has it financial arm stuck into just about every thing you ever though about and more....

If you just farted then GE finance just made a $

Edited by XswampyX

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The story has not been written yet on GE + GE Finance.

At worse, it would make a good Vanity Fair feature, who appear to be the only news outlet that are willing to go over this material.

Or a Michael Lewis book.

GEF was a monster born out of every dodgy corporate practice going, every stretched bit of dodgy accounting, bowing to a vain glorious over inflated ego of an American corporate 'hero', Jack Welch.

Before the Great financial crash, I was looking at GE + GEF and thinking 'WTF?' Does no one see its a massive scam.

GEF nearly took GE down with it, and would have destroyed the last 30 years of corporate America - GE was on a massive plinth. Its CEO were like kings of America. It would have been the corporate equiv. of finding out the royal family were really a binch of alien lizards.

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Ahh rank and rating.

An idea from statistics, borrowed by MBAs.

Works for a large - say millions population, where you have no selection

Does not work when you dealing with a team of 10s,where each has been interviewed and already picked from a large pool.

US corporate beliefs, which is what they are, come mainly from GE and the MBA culture.

They have been a total fcking disaster for the countries, companies and employees.

Might have well employ an astrolger rather than an MBA -and thats an MBA from one of the better places. God knows what a graduate of Skanksville Tech college's business unit MBA program would do.

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An American company but the timing of its announcement (probably a popular announcement except for financiers etc who are so bailed out it'll be matterless to them except for those employed by/connected to GE itself) one week before the UK's general election must just be a coincidence.

Apparently its finance arm also needed a bailout but it might be calculating that there's more financial devastation to come and it wants out now as it won't be bailed out a 2nd time. Apparently it's keeping some of the financial parts so perhaps in a few years time it anticipates getting involved/investing in the ruination of the economy again if there's ever another proper upswing.

Edited by billybong

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