Reuters reports today that due to the credit crunch and continued housing slump General Electric Co. is having a hard time spinning off its consumer and industrial arm. The only part that is attracting interest right now is its appliances unit. The CFO told the news service that if the company received a “tremendous offer” for the appliances unit, it would consider saying yes.
 
Keith Sherin tells Reuters:
 
“If you look today with housing where it is and with questions about the economy where it is, it’s a challenging transaction. The world we’re seeing today is in a lot of turmoil. But once the world sees that there will be a better day ahead, I think this is still a very viable transaction. We’re still working on it.”