DOJ sues to block Electrolux $3.3bn bid for GE appliances

[stricklybojack]

.
This link is less revealing than previously posted, but is what i originally intended. Can't get anything past you guys..[this post was last edited: 7/1/2015-20:50]

http://www.wsj.com/articles/doj-sues-to-block-electrolux-deal-for-ges-appliance-business-1435779316

 

[wayupnorth]

Your link goes to a porn site

 

[roto204]

Link

http://www.reuters.com/article/2015/07/01/us-electrolux-general-electric-idUSKCN0PB5RM20150701

 

[cuffs054]

I have this friend... and he's interested in this deal. But before I give him the link, exactly what type of porn does it take you to? This is not for me, just my friend.

 

[maytagbear]

I agree.......about the anti-trust

issue. Too much market share would be in the hands of too few. Electrolux and Whirlpool. I LIKE my GE dishwasher, but am lukewarm about the rest of GE's line.........too many apartments with BOL/lower MOL GE appliances, particularly that one dial/rocker switch dishwasher, and that unappealing to me 5 button cooktop.......

Lawrence/Maytagbear

 

[wayupnorth]

Thanks, Nate. Interesting article. First link didnt work. Maybe the DOJ will finally stop making these huge conglomerates merge and then UP go the prices, quality goes way down and workers end up with pennies and the shareholders laugh their way to their bank, off shore naturally.

 

[launderess]

Problem is as was pointed out when WP ultimately got Maytag

Who else wants GE appliances?

The appliance market is so mature if it was a human being it would be a nursing home. Things just aren't what they were pre-WWII or the boom that followed well into the 1970's.

IIRC the only other serious bidder for Maytag was the Chinese. That offer drove home a message received loud and clear by federal government. Result we all know.....

Quite honestly it seems General Electric hasn't really been a serious contender in the appliance business for sometime. They've had *some* interesting products but quite honestly reliability problems have come to haunt that company.

If GE cannot sell their appliance division to Electrolux and no one else steps in there are several alternatives:

China
Venture capital
Shut the thing down

 

[stricklybojack]

My guess..

.
is the deal will be amended and go through. Certain things will have to be done to please the DOJ. GE is deleveraging from it's days as a full tilt financial firm flying under the radar by appearing otherwise...remember they got lots of bailout money/credit-backing during the crash.
The DOJ won't get in the way of them fixing up their balance sheet to weather the coming storm.

 

[askolover]

anybody notice

it says,
"The United States filed a lawsuit on Wednesday to stop Sweden's Electrolux AB (ELUXb.ST), which owns the Frigidaire, Kenmore and Tappan brands, from buying General Electric Co's (GE.N) appliance business, the Justice Department said in a statement."

 

 

Did Sears sell off the Kenmore brand name?  I haven't heard that.

 

[arbilab]

Geezus! It's a fulltime 6-figure job keeping track of whither goes "brand name" (snicker/nudge/wink) ownership. For at least 15 years, where/who/from what appliances were made has been like playing darts blindfolded. The results more than confirm that.

Might as well just go straight to China and buy whatever they're selling. It's likely to be better than what they make for their Euro-American contract surrogates. Fact, some Chinese brands have more sense of reputation than those they supply under contract. Or at least they try. Like Haier, which DOES care but simply doesn't know their ass from a golf course when it comes to engineering.

 

[launderess]

Interesting read: http://www.bloomberg.com/bw/articles/2014-09-23/why-big-business-has-gone-cold-on-big-appliances

 

[wayupnorth]

Your absolutely right Laundress after reading that link. GE has a big turbine factory here and it cant keep up with the demand. Why would they want to make Filter Flo's UNLESS, their logo was on it and royalties paid by someone else.

 

[arbilab]

The $16xxx Subzero fridge not only stores food, but eats, digests, craps it out for you and wipes its own ass. For $16K, it better.

We can't much blame GE for blowing off appliances. They've been putting their name on other people's junk for well over a decade. Even if they actually "made" them, they would offshore the engineering to the lowest bidder. I mean, if you can engineer a 7-figure steam or fuel turbine, why bother with a 4-figure oven/fridge/washer? Even with computers doing most of the actual work, it takes roughly the same personnel chain to do either competently.

I wish legacy American companies still did what they did 50 years ago. I also wish I had a solid gold toilet but it's just not in the cards now is it? (Austin Powers)