GE still plans to bring good things to life, just not anything you’re likely to own:
“We are the largest and most profitable infrastructure company in the world,” GE chief executive Jeffrey Immelt said of the Fairfield, Conn.-based company’s identity in its 2013 annual report.
The company reinforced that message this week when it confirmed that it is in talks to sell its $2 billion appliances business to one of several possible bidders, including the appliance maker Electrolux. Several news outlets reported that Quirky, a New York-based startup that uses crowdsourcing to quickly develop its household products, is also interested in GE’s appliance business.
If a sale of the unit is completed, the company’s iconic toasters, refrigerators and washing machines may retain the GE brand name — but will no longer be made by the company. “Most U.S. consumers are not going to be touched day-to-day in a way that they know” by GE-made products, said Brian K. Langenberg, principal of Langenberg & Company.
Saturday night, I installed a GE-branded mouse on my desktop ($8.99, Target). It was of course made in China; the actual distributor is Oklahoma City-based Jasco Products, as revealed in the three-page (!) operations manual. (Actually, it was six pages, though 4 through 6 were basically 1 through 3 in Spanish.) It will be touched day-to-day, but GE didn’t have a thing to do with its production.