For the record, GE Appliances was sold off a year ago and is now owned by Haier, a Chinese conglomerate. Thus began a new “spin cycle”.
https://en.m.wikipedia.org/wiki/GE_Appliances
In the 1960's the stocks were in the 700-900 range. Not even a thousand. Good jobs around. Now it is smoke and mirrors. No wonder the circus quit. Just turn on the news every day for your fix.
Not surprised GE sold off their appliance division, I hadn't heard about that, but not surprised. For Haier it allows them to grab the "GE" brand, for what it is worth and be able to sell appliances under the GE name but made (likely) more cheaply in China. The stock market is not driven any more by solidly dependable companies turning in their "pokey" 6 or 7% on profits, and things like appliances and trains and the like are not going to give you that kinda "Zip", companies especially want things that are at least part nebulous, like that company making that hot new App that has never made money going public and zooming up, the investors, which today is very much driven by hedge funds and others that cater to the very well off whose mantra is double digit growth. "Value" investors, long term, things like Pension funds and the like, don't generally operate like that, they like things like dividends and reliability over the long term, but they aren't what drives the urge for rapid stock price appreciation.
It looks like analysts weren't convinced, GE has been getting slammed all over the place.
My source at GE Transportation (Ft. Worth) told me that Siemens and Bombardier are being mentioned as serious buyers.
Farmer_Bill posted:For the record, GE Appliances was sold off a year ago and is now owned by Haier, a Chinese conglomerate. Thus began a new “spin cycle”.
https://en.m.wikipedia.org/wiki/GE_Appliances
Haier has a facility in Camden, SC. I was recently in Camden for a week, on training, with my new employer & Haier had a facility in the same industrial park. They even had a Haier Blvd in that industrial park. According to locals, Haier had a presence in Camden at least since the 2000’s. There were a lot of trucks entering & leaving, which led me to believe that business must have been thriving. Good for Haier for creating / preserving jobs in America. The facility seemed to have GE Appliance branding at the entrance.
These are just my opinion,
Thanks,
Naveen
No matter what happens to the GE loco business they are out of Erie. Old plant, sky high wages and benefits. Ship the engines to the fab plant.
Maybe Norfolk Southern should buy GE's locomotive division. They already are experts on rebuilding locomotives, so why not make them new as well?
Stuart
Some years ago, I remember US Steel closing a plant and it sat unused for quite awhile-that is, until the union contract expired then Allegheny Ludlum bought it and spent many $$ modernizing the facility. So we will see.
Just playing devil's advocate with no research to back it up whatsoever, but I wonder if Bombardier would get into the game again? If they were somehow able to buy out the GE locomotive arm, then tracing the companies back several decades would be GE > Bombardier > Montreal Locomotive Works > Alco-GE 
