"No financial information about the transaction was disclosed."
As we said regarding WMI's announcement a few weeks ago:
"Talking Trash and Makin' Cash"
GE is, of course, a member of USCAP, who say they are for "early action" (money), except when they aren't:
As It Polishes Green Image, GE Fights EPA
General Electric Co., which is running a marketing campaign promoting itself as environmentally friendly, has pushed to weaken smog controls for railroad locomotives in rules about to be proposed by the Environmental Protection Agency.
The rules, which could take effect between 2011 and 2017, are designed to cut smog and soot levels and would replace standards adopted in 1997. Since the rules would apply to new locomotives and could require changes on older ones, they would have a big effect on GE, which dominates the nearly $2 billion-a-year North American locomotive market. While the nation's other locomotive maker and diesel-engine makers say they are prepared to meet the proposed new standard, GE argues it is "unlikely to be achieved" and has proposed a weaker one....GE's position on the locomotive rules isn't supported by a competitor in the business, Electro-Motive Diesel Inc., LaGrange, Ill. "We're not making a big thing out of being green, but we're definitely intending to meet all of the [EPA] rules and requirements," said Martha Lenz, director of engine design for the company.
More from John J. Fialka and Kathryn Kranhold at The Wall Street Journal Online