GE Aerospace (GE)

[Jetmek_03052]

Yes, GE is trying to "create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its world-class industrial businesses".

"As part of the execution of this new plan, GE announced an agreement to sell the bulk of the assets of GE Capital Real Estate to funds managed by Blackstone. Wells Fargo will acquire a portion of the performing loans at closing. The Company also has letters of intent with other buyers for an additional $4 billion of commercial real estate assets. In total, these transactions are valued at approximately $26.5 billion."

Geez...those $15B of charges and tax listed in the 8K don't seem like all that much now....

GE realizes that the most profitable part of their businesses are the industrial type. Selling these capital divisions off to someone who can do the job better is a smart move.