General Electric plans to spin off Consumer Finance Business

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Replied by Roughdraft on topic Re: General Electric plans to spin off Consumer Finance Business

Yes, I read about this. My thoughts were 'Great, I like my GE accounts!' who knows who would buy them, and what changes this might bring. It appears they tried selling it before before the Great Recession, and now that bad debt is at its lowest in years, they are trying to sell it as a profitable financial market. It's a good thing I hold several store cards, some outside of GECapital, just in case someone I don't like buys it, (i.e) Capital One...(​shiver)
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  • Wanderer
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According to the Washington Post (Saturday August 31, 2013 at 1:36 a.m.) - The consumer finance business provides store credit cards to about 55 million people for retailers like Wal-Mart Stores Inc. It accounts for $50 billion of GE Capital’s $274 billion in outstanding loans, according to the report. Aside from its finance business, GE sells a wide variety of industrial equipment and appliances around the world. This includes jet engines, medical diagnostic equipment, oil and gas drilling equipment and washing machines. For those of you who hold GE consumer financial products and cards beaware. Changes are in the wind as GE plans to get out of the business.
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