Posted on 01/15/2016 7:53:48 AM PST by Leaning Right
General Electric has sold its appliance business to Haier for $5.4 billion, a deal that will greatly expand the Chinese firm's footprint in the U.S. Haier is best known as a manufacturer of household goods including washing machines, refrigerators and microwaves. In recent years, it has sought to expand into new international markets, including the U.S.
(Excerpt) Read more at money.cnn.com ...
and the US corporate prostitution of America.
Has GE actually built any appliances in recent years or do they just OEM - put their badge on appliances made be 3rd parties like Haier?
I hope they are not leaving the GE name on the appliances. But that was probably part of the deal.
GE appliances are already crap. This will make them worse.
I have recently noticed, appliances tagged “assembled in the USA”. That should speak volumes.
actually, it the headline about the ascendency of the Chicaps.
China is at root a country of business people that are exhibiting that which has been disallowed for a very, very long time.
Last night, Trump told us he will harness that power.
That is an observation and not a comment of favorable belief.
The fact of history is that China is.
USA going down the toilet, slowly circling the drain.
That's a very good point. But at least in that case GE had some control over quality and safety issues. And GE got a cut of the profits.
Now I suppose Haier will just turn out cheap junk, and slap UL labels on them. And if UL doesn't like it, they can go ahead and try to sue.
60 Minutes had a story about something like that, involving Chinese-made flooring. The Chinese were slapping California-compliant stickers on the product when the flooring was in no way CA-compliant.
GE.
Nothing like that good ole A-mur-ican company.
Have you thanked Jeffy Immelt for that groovy stock price and total return lately?
The destruction of America continues.
MY GE Profile has been nuttin but problems both fridge & counter top stove. Even the Profile microwave magnetron has been replaced 2x. Had enough with GE crap!
We Bwing Gwood Tings to Wiving,
We Bwing Gwood Tings to Wife
Our Profile equipped kitchen has so far avoided major problems, but the trashy quality became obvious quickly. I will never buy again, especially after this sale announcement.
So yeah, they still build stuff here.
5.4 Billion? Think they paid too much.
You're gonna love this. From the article: GE's well established brand is also "an invaluable asset," Zhang said.
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So it looks like the Chinese bought the brand name as well as the products themselves.
Ronald Reagan used to host General Electric Theater on TV. I just imagine he’s puking his grave right now! GE is a $hit company run by a criminal who is a buddy of Barak’s.
In regard to Chinese history they will probably change the name of the company to GENERALISSIMO ELECTRIC.
General Tso’s Electric?
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