GE's Return To Its Industrial Roots Offers Hope US Economy May Do The Same

GE’s Return To Its Industrial Roots Offers Hope US Economy May Do The Same by The Conversation

General Electric is retreating from the financial sector and returning to its industrial roots seven years after its finance unit nearly brought down the company.

After Lehman Brothers’ collapse in September 2008, GE was saved only by the largesse of the federal government, borrowing billions through several different programs set up to fight the financial crisis.

The company’s shift, announced in April, is a crucial development and is in part the result of the passage of the Dodd-Frank Act, which turned five years old this week.

GE, which reported revenues of almost US$150 billion from dishwashers, jet engines and...