General Electric Pursues Spinoff, Sal...

General Electric Pursues Spinoff, Sale of Consumer & Industrial Division

There are 5481 comments on the Bloomberg story from Jul 10, 2008, titled General Electric Pursues Spinoff, Sale of Consumer & Industrial Division. In it, Bloomberg reports that:

General Electric Co. , two months after placing its century-old appliance unit on the block, said it plans to spin off its entire GE Consumer & Industrial group to shareholders as Chief Executive Officer ...

Join the discussion below, or Read more at Bloomberg.

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veras5th

Beachwood, OH

#1 Jul 10, 2008
I'm a 30 year GE Lighting employee and I'm at a loss for words. Nothing has been spelled out for the employees affected by this "Spin Off". Maybe Jack could give us all a little cash from his wine budget.
MlH

Columbus, OH

#2 Jul 15, 2008
I've worked for GE Lighting for 32 years, and I'm well aware that it's all about the money. We made them lots of money it just wasn't enough! All those shareholders who are so happy their shares are going up just remember those few dollars you gained came right out of our pockets. I'm sure this "spin Off" means we're going to HUNG OUT to dry.
MWF

Somerset, OH

#3 Jul 16, 2008
What made GE today will be gone tomorrow. NBC does not make a dime but we are faithful to them.
MWF

Somerset, OH

#4 Jul 16, 2008
What made GE today will be gone tomorrow. NBC does not make a dime but we are faithful to them. How about them fiances Jeffy baby. Want to buy more?
ras

Mount Vernon, OH

#5 Aug 2, 2008
I am a 32yr GE employee also. This is a way for GE to get out of paying plant closing benifits and retirement health care.The new company can also reduce all benifits and wages after 2011. Which also is in line with the incandesant ban. Not a coincedence. All planned out and we will suffer.
don cole burlington ia

United States

#6 Aug 4, 2008
WE HERE IN IA. ARE ALSO BEING SCREWED AND I KNOW OUR SWITCHGEAR OPERATION HAS MADE THEM TONS OF $ BUT IT'S LIKE YOUN SAY JUST NOT ENOUGH I GUESS. CORPORATE GREED MY FRIENDS
winchester lamp

Old Fields, WV

#7 Aug 4, 2008
ras wrote:
I am a 32yr GE employee also. This is a way for GE to get out of paying plant closing benifits and retirement health care.The new company can also reduce all benifits and wages after 2011. Which also is in line with the incandesant ban. Not a coincedence. All planned out and we will suffer.
Yes you are correct,this was all planned!Good luck to your plant!!
winchester lamp

Old Fields, WV

#8 Aug 4, 2008
Yes you are correct,this was all planned.Good luck to your plant!!
Boone

Belvidere, IL

#9 Aug 4, 2008
Everyone should quit buying there products and boycott anything they touch.
Boone

Kansas City, MO

#10 Aug 14, 2008
This is not really a spin off, It is a Rip Off!!
circleville

AOL

#11 Aug 18, 2008
Thank you GE for hanging me out to dry after 37 years of my life given to you because you do not want to pay us the benefits of a plant closing.
GEOLCOW

Youngstown, OH

#12 Aug 22, 2008
I agree... Here in Niles, Oh same thing... What a shame...
Has anyone heard any new news about this spin-off/rip-off?
We are waiting patiently for any news... As a 30+ year employee close to retirement, will we lose the option to retire at 55/25... I never dreamed this would happen... I just knew I would retire in 2009.....
I would love to hear what is going on with the other GE plants involved in the rip-off...
We are running with no spare parts, and machinery running full steam ahead and we hear it is just going into warehouses...
What is going on at your plant?
Yankee

Columbus, OH

#13 Aug 22, 2008
GEOLCOW wrote:
I agree... Here in Niles, Oh same thing... What a shame...
Has anyone heard any new news about this spin-off/rip-off?
We are waiting patiently for any news... As a 30+ year employee close to retirement, will we lose the option to retire at 55/25... I never dreamed this would happen... I just knew I would retire in 2009.....
I would love to hear what is going on with the other GE plants involved in the rip-off...
We are running with no spare parts, and machinery running full steam ahead and we hear it is just going into warehouses...
What is going on at your plant?
No news here either. Basically, the same scenario.
GE sucker

Sumner, ME

#14 Aug 22, 2008
Same thing going on everywhere 37 year employee haven't been told anything. Orders have increased like never before. Geeez i wonder whats going on.
caveman

Charleston, IL

#15 Aug 26, 2008
Same here no parts no money but on our butts to keep making day rates. Hey maybe if we beat the summer slump they will through us a bone. steak cookout kiss my A_ _..
Yankee

Columbus, OH

#16 Aug 26, 2008
caveman wrote:
Same here no parts no money but on our butts to keep making day rates. Hey maybe if we beat the summer slump they will through us a bone. steak cookout kiss my A__..
They can stuff that steak, where the sun don't shine. good luck all! We need it!
kentucky

Louisville, KY

#17 Aug 27, 2008
it's the same here as other places hope Jeff get's the boot soon
circleville

AOL

#18 Aug 29, 2008
Has Ron Wilson trickeled any information to anyone?..The rumor here is that they are going to have meetings with the older employees.
caveman

Charleston, IL

#19 Aug 29, 2008
Ron was at our plant Wednesday. All we heard was a lot of double talk. Answers that started with I THINK ,MORE THAN LIKLEY, I WOULD SAY, THEN THEY ENDED WITH I DONT KNOW, WE DONT REALLY KNOW.The HR manager for salary was with him so I am sure some managers know what there fate is. At one point the new distribution manager that was with him (can't remember his name because I dont really care) said we are in the same boat as you .That didn't go over very good...(idiot). All it was ??? damage control. GOOD LUCK to ALL in this fight to get some answers
37 years

Louisville, KY

#20 Aug 29, 2008
Maybe we all should pool our money and resources and hire some big corporate lawyer from New York or Washington and help ge redefine the terms of "losing one's job"

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