firedome
Well-known member
announced this morning on Marketplace on NPR! They say they'll continue running it for now but still want to sell. Wish they'd keep it now that Appliance Park is rejuvenated.
GE won't be selling to Electrolux!
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Wow - GE pulled the plug on the deal. Interesting, I as well hope that GE would try to make the appliance division work for them.
http://www.cnbc.com/2015/12/07/ge-s...o-sell-appliances-business-to-electrolux.html
http://www.cnbc.com/2015/12/07/ge-s...o-sell-appliances-business-to-electrolux.html
user 3941
Well-known member
Yay!
This makes me very happy. I really didn't want to see GE lose their appliance division. They are an American icon! I would have been happier with an acquisition by an American company at least...
This makes me very happy. I really didn't want to see GE lose their appliance division. They are an American icon! I would have been happier with an acquisition by an American company at least...
YAY!!! Whew!! Now introduce that double oven induction range I've been waiting for. After the acquisition/merger announcement, I noticed new Elux ranges and wall ovens, some models offered heavy duty oven racks which could stay in the oven during the Self Clean cycle. That was a GE exclusive up to that pint. I wonder if Elux will continue to offer and develop further that feature.
[this post was last edited: 12/7/2015-10:43]
[this post was last edited: 12/7/2015-10:43]
That's good to hear! After Electrolux bought German AEG, quality went downhill, all the German employees were eventually fired, factories closed and production moved to low-wage countries. :-(
gusherb
Well-known member
Hallelujah!!!
Fantastic news!
Back in September when we were buying the new GE range the salesman told me that their GE rep indicated that the buyout actually happening looked a bit grim. I didn't want to believe what he was telling me, but looks like he was right.
Out of curiosity, who else might be a potential buyer? Certainly not Whirlpool right? I would think that would get shot down as they're already too big.
Fantastic news!
Back in September when we were buying the new GE range the salesman told me that their GE rep indicated that the buyout actually happening looked a bit grim. I didn't want to believe what he was telling me, but looks like he was right.
Out of curiosity, who else might be a potential buyer? Certainly not Whirlpool right? I would think that would get shot down as they're already too big.
iheartmaytag
Well-known member
Whirlpool would have the same problems as Electrolux. They almost didn't get the Maytag purchase through.
Gasp!!
I look for LG or Haier as possible suitors.
Gasp!!
I look for LG or Haier as possible suitors.
Whirlpool is the Death Star of Evil.
lordkenmore
Well-known member
I have to think Whirlpool would be out of the running since they are so large. But...who knows what the future will bring? If "Big Business is Always Great!" politicians have full control of the White House and Congress in 2017, Whirlpool might have a chance.
And I suppose the circumstances of the moment makes a difference. What if GE decides its getting out of appliances, even if it means just shutting the division down. What if at that point Whirlpool is the only company interested?
And I suppose the circumstances of the moment makes a difference. What if GE decides its getting out of appliances, even if it means just shutting the division down. What if at that point Whirlpool is the only company interested?
lordkenmore
Well-known member
One buyer that might be interesting...
would be a group of us here. It has the proverbial snowball's chance of happening, but I have to admit I'm amusing myself by thinking of the first official act of GE, a Division of AW.org, would be reintroducing the Filter Flo washer.
would be a group of us here. It has the proverbial snowball's chance of happening, but I have to admit I'm amusing myself by thinking of the first official act of GE, a Division of AW.org, would be reintroducing the Filter Flo washer.
firedome
Well-known member
Personally...
I'd hate to think GE would sellout to one of the Asian manufacturers, enough of our manufacturing and jobs have gone that way as it is. And now GM has announced the 1st Chinese-built car ever to be sold in the US, with a Buick label no less!!
I'd hate to think GE would sellout to one of the Asian manufacturers, enough of our manufacturing and jobs have gone that way as it is. And now GM has announced the 1st Chinese-built car ever to be sold in the US, with a Buick label no less!!
It would have to go to one of the Asian companies. Who else is left?
In the end, GE will get rid of appliances. It doesn't fit in with Immelt's aim to be just an industrial, as opposed to consumer, company.
Some pics of the factory at the link to today's Louisville Courier-Journal article.
http://www.courier-journal.com/stor.../76911178/?from=global&sessionKey=&autologin=
In the end, GE will get rid of appliances. It doesn't fit in with Immelt's aim to be just an industrial, as opposed to consumer, company.
Some pics of the factory at the link to today's Louisville Courier-Journal article.
http://www.courier-journal.com/stor.../76911178/?from=global&sessionKey=&autologin=
Don't be so excited...
All of you seem so happy about this, how will you feel when GE appliances become a Chinese company. The article said GE is still planning to sell at some point and quite honestly who else is there but the Chinese? I'd much rather GE be owned by Electrolux than some of the other options. I do not believe GE has ANY intention of keeping the appliance division.
All of you seem so happy about this, how will you feel when GE appliances become a Chinese company. The article said GE is still planning to sell at some point and quite honestly who else is there but the Chinese? I'd much rather GE be owned by Electrolux than some of the other options. I do not believe GE has ANY intention of keeping the appliance division.
iheartmaytag
Well-known member
GE is hellbent on diversifying
If the the Koreans and Chinese are all that are buying, they will sell.
Can anyone say Black & Decker?? The small appliance division.
Unfortunately for American companies, unless there is some company that wants to get into appliances, Whirlpool is all that's left and the regulators would screech that one to a hault--Unless Speed Queen wants them. Doubt it.
If the the Koreans and Chinese are all that are buying, they will sell.
Can anyone say Black & Decker?? The small appliance division.
Unfortunately for American companies, unless there is some company that wants to get into appliances, Whirlpool is all that's left and the regulators would screech that one to a hault--Unless Speed Queen wants them. Doubt it.
launderess
Well-known member
Whirlpool Isn't Going To Get GE Appliance Division
Don't care who is where in 2016, 2020, 2024 or whenever .
As of 2013 WP holds nearly 44% of the USA appliance market. They are as close to a monopoly as you can get without running afoul of anti-trust laws.
http://www.statista.com/statistics/...ireless-telecommunication-carriers-in-the-us/
That share is just from the active brands Whirlpool markets. Via the Maytag acquisition and previous mergers/purchases WP holds many more appliance names no longer in production. They could however at any time reactivate any they wished.
Only reason WP got Maytag in the first place was no one else wanted it besides the Chinese. Well them and a few hedge fund/venture capitalists who would have raped and sold off anything of value from Maytag, then sold off the rotting carcass as well.
As you can see from the above link AB Electrolux holds the next largest market share (about 20%). Allowing them to purchase GE would have allowed the USA appliance market to be divided between two near monopolies. Like Whirlpool Electrolux also owns plenty of appliance brand names long since out of production, but could be reactivated if they wanted.
My guess is if anything an Asian company will eventually get GE appliances. They are buying up much of the USA anyway and there isn't anyone else with pockets deep enough to make it work that wants the thing anyway.
Domestic appliances is a mature market. Sales are mostly highly dependent upon new home creation and product replacement. That and various *innovations* such as energy saving and so forth. This is why world over you see a handful of major players controlling large parts of the market.
In fact things aren't that much different on the commercial/professional side of laundry appliance market either. There has been plenty of bankruptcies, mergers, acquisitions and so forth so that side almost mirrors domestic.
Don't care who is where in 2016, 2020, 2024 or whenever .
As of 2013 WP holds nearly 44% of the USA appliance market. They are as close to a monopoly as you can get without running afoul of anti-trust laws.
http://www.statista.com/statistics/...ireless-telecommunication-carriers-in-the-us/
That share is just from the active brands Whirlpool markets. Via the Maytag acquisition and previous mergers/purchases WP holds many more appliance names no longer in production. They could however at any time reactivate any they wished.
Only reason WP got Maytag in the first place was no one else wanted it besides the Chinese. Well them and a few hedge fund/venture capitalists who would have raped and sold off anything of value from Maytag, then sold off the rotting carcass as well.
As you can see from the above link AB Electrolux holds the next largest market share (about 20%). Allowing them to purchase GE would have allowed the USA appliance market to be divided between two near monopolies. Like Whirlpool Electrolux also owns plenty of appliance brand names long since out of production, but could be reactivated if they wanted.
My guess is if anything an Asian company will eventually get GE appliances. They are buying up much of the USA anyway and there isn't anyone else with pockets deep enough to make it work that wants the thing anyway.
Domestic appliances is a mature market. Sales are mostly highly dependent upon new home creation and product replacement. That and various *innovations* such as energy saving and so forth. This is why world over you see a handful of major players controlling large parts of the market.
In fact things aren't that much different on the commercial/professional side of laundry appliance market either. There has been plenty of bankruptcies, mergers, acquisitions and so forth so that side almost mirrors domestic.
launderess
Well-known member
GE is hellbent on diversifying
General Electric already *is* very diversified. From healthcare to locomotives.....
https://en.wikipedia.org/wiki/General_Electric
What they are *intent* on doing is going "lean"; that is getting shot of lines that either aren't really profitable and or are a distraction, then concentrate on several core businesses. They have already sold off much of GE Capital (their financing subsidiary) and more is to come.
General Electric truth to tell hasn't had their heart in appliances for years now and it has shown. Friends don't let friends buy GE (appliances) has been the often heard quote for decades now. That was of their major appliance line, small appliances have been almost an after thought for it seems much longer.
General Electric is following a well worn run for the exits of appliance manufacturing that began decades ago. General Motors along with others saw where things were heading after the post war boom let up and got out.
General Electric already *is* very diversified. From healthcare to locomotives.....
https://en.wikipedia.org/wiki/General_Electric
What they are *intent* on doing is going "lean"; that is getting shot of lines that either aren't really profitable and or are a distraction, then concentrate on several core businesses. They have already sold off much of GE Capital (their financing subsidiary) and more is to come.
General Electric truth to tell hasn't had their heart in appliances for years now and it has shown. Friends don't let friends buy GE (appliances) has been the often heard quote for decades now. That was of their major appliance line, small appliances have been almost an after thought for it seems much longer.
General Electric is following a well worn run for the exits of appliance manufacturing that began decades ago. General Motors along with others saw where things were heading after the post war boom let up and got out.
firedome
Well-known member
GE's Applianace division...
wasn't losing money, but like every Corp. these days wants to focus on "core competencies'... well from 1910 until Jack Welch in this original Corporate Conglomerate, appliances WERE their core competency. All this shite is because of short-term Wall Stream thinking, where quarterly returns to investors rules all and
loyalty to employees and a desire for quality machts nichts.
wasn't losing money, but like every Corp. these days wants to focus on "core competencies'... well from 1910 until Jack Welch in this original Corporate Conglomerate, appliances WERE their core competency. All this shite is because of short-term Wall Stream thinking, where quarterly returns to investors rules all and
loyalty to employees and a desire for quality machts nichts.
delaneymeegan
Well-known member
I wouldn't jump for joy yet...
These sales, of this size, don't happen over night.
It's not like GE listed the appliance division on Ebay, and the highest bidder got it, though that would be funny.
There have been many other large divestitures by multi-nationals, and these things can be strung out over months and years. And sometimes the company makes one claim while behind the scene, the opposite is true.
They are in fact in a mature market and you can see that in their selections.
The ridiculous refrigerators with an "MSRP" price of $8000, has me laughing. How many fresh from college, and heavily loaded with debt, young people are interested in that? Because the Baby boom generation is such a large co-hort, that there is an over surplus of appliances(and furnishings) that are in very good condition and affordable.
What, or Who, ever buys GE appliance, needs to answer the question, are they buying for cash return, or to capitalize on tax losses.
These sales, of this size, don't happen over night.
It's not like GE listed the appliance division on Ebay, and the highest bidder got it, though that would be funny.
There have been many other large divestitures by multi-nationals, and these things can be strung out over months and years. And sometimes the company makes one claim while behind the scene, the opposite is true.
They are in fact in a mature market and you can see that in their selections.
The ridiculous refrigerators with an "MSRP" price of $8000, has me laughing. How many fresh from college, and heavily loaded with debt, young people are interested in that? Because the Baby boom generation is such a large co-hort, that there is an over surplus of appliances(and furnishings) that are in very good condition and affordable.
What, or Who, ever buys GE appliance, needs to answer the question, are they buying for cash return, or to capitalize on tax losses.
I'm Happy!
Honestly, call me crazy but I think that GE makes some really great, well built appliances. I've always bought GE kitchen appliances each time I've renovated a house and have never had a single problem with any of them. In my opinion they make the best ranges on the market, the dishwashers are workhorses and the fridges are great too....
Just got the GE induction slide in range a couple months ago and it is built like a tank, has some great features and works wonderfully. Hands down the best stove I've ever used and couldn't be happier. Got a great deal on it too so it makes it even better
http://products.geappliances.com/appliance/gea-specs/PHS920SFSS
Honestly, call me crazy but I think that GE makes some really great, well built appliances. I've always bought GE kitchen appliances each time I've renovated a house and have never had a single problem with any of them. In my opinion they make the best ranges on the market, the dishwashers are workhorses and the fridges are great too....
Just got the GE induction slide in range a couple months ago and it is built like a tank, has some great features and works wonderfully. Hands down the best stove I've ever used and couldn't be happier. Got a great deal on it too so it makes it even better
http://products.geappliances.com/appliance/gea-specs/PHS920SFSS
Maybe Haier will buy them out!
ducks and runs
ducks and runs
I really am kidding about that. I'd really hate to see GE go to some foreign company.
Would be nice if GE just stayed----GE!!!
firedome
Well-known member
Yes...
who knows, maybe the Asian companies are too big to get a merger by US regulators as well.
who knows, maybe the Asian companies are too big to get a merger by US regulators as well.
Why not independent?
Is there some reason the appliance division could not become GEAppliances Corp as an independent public or privately held company? Or is there some reason an appliance company has to be part of a larger one? I would have GEA based at Appliance Park and not have to report to GE.
Is there some reason the appliance division could not become GEAppliances Corp as an independent public or privately held company? Or is there some reason an appliance company has to be part of a larger one? I would have GEA based at Appliance Park and not have to report to GE.
A Chinese Buick
Funny, you don't look Buick.
Funny, you don't look Buick.
sudsmaster
Well-known member
I think a better term to describe GE's agenda, is divesting, rather than diversifying.
GE left a bad taste in many appliance buyer's mouths with the self-destructing fridge compressors of the 1990's...
GE does make good ranges, which usually get top ratings such as from Consumer Reports. I'm not so impressed with their washers, which of course are made in China these days.
GE does have a company mantra that it must be first or second in any market it sells into. It doesn't seem to be first or second in the appliance market any more, although perhaps its contractor grade line of el cheapo home appliances is keeping it afloat in that regard.
Interesting to hear that Electrolux cheapened out the AEG line when it purchased it. I rather think that Electrolux's Euro approach could actually improve some of GE's appliance line. I've admired their front load washer for some years now, although that is largely based on capacity vs. footprint as well as the reversibility feature of their washer door.
GE left a bad taste in many appliance buyer's mouths with the self-destructing fridge compressors of the 1990's...
GE does make good ranges, which usually get top ratings such as from Consumer Reports. I'm not so impressed with their washers, which of course are made in China these days.
GE does have a company mantra that it must be first or second in any market it sells into. It doesn't seem to be first or second in the appliance market any more, although perhaps its contractor grade line of el cheapo home appliances is keeping it afloat in that regard.
Interesting to hear that Electrolux cheapened out the AEG line when it purchased it. I rather think that Electrolux's Euro approach could actually improve some of GE's appliance line. I've admired their front load washer for some years now, although that is largely based on capacity vs. footprint as well as the reversibility feature of their washer door.
firedome
Well-known member
GE washers
along with ranges, fridges, d/ws, are all made at appliance park in Louisville KY, of 75% to 90% US parts.
along with ranges, fridges, d/ws, are all made at appliance park in Louisville KY, of 75% to 90% US parts.
iheartmaytag
Well-known member
Divesting
Yes proper term. I had thought of that but didn't go back to correct as I figured that polite people would be able to figure what I meant when someone is typing quickly between calls at work.
And as stated GE is Hellbent on divesting themselves of the appliance division, so it is going to happen.
Yes proper term. I had thought of that but didn't go back to correct as I figured that polite people would be able to figure what I meant when someone is typing quickly between calls at work.
And as stated GE is Hellbent on divesting themselves of the appliance division, so it is going to happen.
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