Re: Wells Fargo buys GE rail unit & more
Author: SP5103
Date: 10-14-2015 - 11:38

Not the article I read, but says about the same thing no doubt based in part on a GE press release: http://www.usatoday.com/story/money/business/2015/04/10/ge-selling-real-estate-assets/25564855/

Excerpt:

"The financial side of the business has been weighing on the stock due to risks in the business exposed during the financial crisis, as well as the greater regulatory burden it has carried since the mortgage meltdown.

As part of the exit, GE will seek to get rid of GE Capital's designation as a Systemically Important Financial Institution (SIFI), a title that places it under enhanced government scrutiny.

In addition to real estate, GE will also sell the bulk of its commercial lending business, its leasing segment and all consumer platforms, including all U.S. and international banking assets.

The new GE will focus on energy manufacturing, including deep-water oil-drilling equipment; power-generation and water technologies, and its aviation business, which makes military and commercial engines, the company said.

GE will also retain its health care business, including data management.

GE will retain some financing capabilities, such as its aircraft-leasing operations and lending to energy and health care customers. The company currently provides financing for more than 3,000 GE health care customers, including equipment financing."

"Under the plan, Immelt said that GE expects more than 90% of its earnings will be generated by its industrial businesses by 2018, up from 58% in 2014.

Those businesses offer higher returns, he said.

GE Capital, meanwhile, will make up 10% of the company's revenues by 2018, down from 46% in 2001."


While it doesn't say, presumably GE will continue to finance its new locomotives which has been a big reason in at least its export market clear back to at least the 1940s.



Subject Written By Date/Time (PST)
  Wells Fargo buys GE rail unit & more Bob 10-14-2015 - 09:39
  Re: Wells Fargo buys GE rail unit & more SP5103 10-14-2015 - 10:20
  Re: Wells Fargo buys GE rail unit & more Bob 10-14-2015 - 10:49
  Re: Wells Fargo buys GE rail unit & more SP5103 10-14-2015 - 11:38
  Re: Wells Fargo buys GE rail unit & more Just a Passerby 10-14-2015 - 11:53
  Re: Wells Fargo buys GE rail unit & more Wes T. Inghouse 10-15-2015 - 15:56
  Re: Wells Fargo buys GE rail unit & more AZebra 10-14-2015 - 10:47
  Re: Wells Fargo buys GE rail unit & more Leaser 10-14-2015 - 11:16
  Re: Wells Fargo buys GE rail unit & more Tony Johnson 10-14-2015 - 21:31
  Re: Wells Fargo buys GE rail unit & more Craig Tambo 10-15-2015 - 22:12


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