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Strategies & Market Trends : Fundamental Value Investing

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To: Sergio H who wrote (3143)	8/30/2013 8:24:13 AM
From: The Ox	Read Replies (3) of 4719

GE plans to exit U.S. retail lending: WSJ General Electric Co ( GE.N) plans to spin off the U.S. consumer lending operations of its finance arm GE Capital, as the conglomerate moves to focus on its core industrial operations, the Wall Street Journal reported, citing people familiar with the matter.The decision to divest the business that issues store credit cards for 55 million Americans comes amid concerns about the company's exposure to banking, the Journal said. Preliminary work to spin off the unit through an initial public offering is under way, the newspaper said. GE has said the U.S. consumer-finance business earned $2.2 billion last year. The operation accounts for about $50 billion of GE Capital's outstanding loans of $274 billion. An IPO could come early next year, but its size has not yet been determined, the people told the paper. reuters.com I have been of the opinion that if it's anywhere near as bad as the strongest critics claim, then they will find a way to spin it off or sell it off. Message 29012967

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