Heymann Sees Haier as Likely Buyer of GE Appliance Unit

[NewJeffCT]

Source: Bloomberg news

May 16 (Bloomberg) -- Nicholas Heymann, an analyst at Sterne Agee & Leach, talks with Bloomberg's Betty Liu from New York about the outlook for General Electric Co.'s consumer-appliance unit. GE said it plans to seek a buyer, partner or spinoff for the unit that has helped make it a household name for more than a century. (Source: Bloomberg)

Read more: http://www.bloomberg.com/apps/news?pid=email_en&refer=conews&sid=adLabeJ9G6ns

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All those GE appliances that have been a staple of American households for a century may now belong to a Chinese company - Haier.

[ReformedChris]

1. Somewhere in his Scrooge McDuck Money Bin, Jack Welch is jumping up and down with glee

Neutron Jack certainly passed along his outsource, firesale, and layoff penchant off to Jeff Immelt. GE breeds some of America's most ruthless and money hungry managers (Bob Nardelli comes to mind). Good Ole' Jack could not have done better Trust Me, GE will not be satisfied until every non-corporate job in the United States is shipped overseas to save their precious record profits.

[NewJeffCT]

2. since I'm in GE's "home" state

of Connecticut, I know some people that work there and it's a brutal place to work - lots of long, stressful hours and a lot of focus on the short-term. Long-term planning & strategy is something that's not done, unless it's confined to Immelt & a few others. After all, why plan for 2-3 years down the road if you get fired for not hitting your number this year?

[KamaAina]

5. Corporate HQ served by *two* public buses in each direction per day

actually an improvement from one when I lived in the area 15 years ago. :eyes:

edit: not two bus routes, two actual buses.

[Roland99]

3. I guess the recession will finally fully hit Louisville

Wouldn't surprise me to see Appliance Park (which once employed something like 17,000) close up for good. Sad. My Dad worked there for nearly 30yrs. Moving up from factory line to a senior computer operator before he took early retirement.

Add in cutbacks, dropped shifts, and layoffs at the two Ford plants and we're talking thousands of higher-paying jobs gone from here.

Well, perhaps there will be more foreclosures and I'll have a better chance at picking up a nice house on the cheap. See? This is a *good* thing!

:sarcasm:

[jmowreader]

4. Definite win for Haier

To call Haier appliances pieces of shit only denigrates shit. After all, shit can be used for many things. It's good fertilizer. You can pick psilocybin mushrooms off it. You can play Cow Chip Bingo. And come November after the across-the-board Democratic landslide, it will make a tasty and filling meal for thousands of defeated Republican officials. "Unka Karl, when they said we should eat shit and die I didn't know there was silverware involved!"

Haier appliances are a whole 'nother story. Haier appliances have the exclusive Yellow Line Warranty: we absolutely guarantee Haier appliances will work until you take them across the yellow line on the sidewalk in front of the store. After that, all bets are off.

[KillCapitalism]

6. Haier = Chinese

Is that right?

[NewJeffCT]

7. yes

Haier is a Chinese company