Pretty soon GE will be nothing but a pile of cash
Sanebull on This is where GE is headed because… they keep selling parts of their business for money. Of course, the company also has an astonishing amount of debt – so actually, they will soon be a pile of nothing. GE Aviation (the one part of GE pulling its weight) is getting rid of Middle River Aircraft Systems for $630 million. The company has about 800 employees and has been building aircrafts for about 90 years.
Here is why GE is selling… they are selling to pay-off that “mountain of debt” that has become synonymous with the company. The company has sold its healthcare, oil and gas, and locomotive businesses up to this. The light bulb maker is also looking for someone to buy their light bulb division. Hm…
It has been rough going for GE… who has seen their stock prices slashed by 60% and was kicked out of the Dow. GE is currently betting on the aviation biz which powers 2 out of 3 commercial flight departures. So, hey, it’s not all gloom and doom for GE. Not yet, anyway.
