From 24/7 Wall Street:
General Electric Co. (NYSE: GE) is announcing the spin off of lighting and appliances and is exploring alternatives for its consumer and industrial units....
...As a reminder, the conglomerate posts earnings tomorrow morning. The current bias is for another cautious report and this spin-off or reorganization right before the earnings announcement may very well be meant to smooth out any reaction....MORE
Here's the original Bloomberg story:
GE Pursues Spinoff of Consumer & Industrial Group
...Consumer & Industrial accounts for about 15 percent of the Fairfield, Connecticut-based parent company's workforce. The group accounted for about 7.4 percent of GE's $172.7 billion in total sales last year. GE, co-founded by Thomas Edison in 1892, told employees in an e-mail this morning it's pursuing this strategy while not ruling out a sale or partnerships.
GE Consumer & Industrial is part of a larger group called GE Industrial, one of six major segments of the parent company. The others are NBC Universal, GE Infrastructure, GE Money, GE Commercial Finance and GE Healthcare....