GE has over $32 billion in store credit cards issued through them. The handle major retailers like Wal-Mart, Lowes, J.C. Penney, Dillards, Ikea, Chevron, and many others. GE went from being the bluest of blue chip stocks to almost penny stock status the past few weeks. Some say they are following the path of Citi, despite that they are a diversified company.
The ironic thing is GE saw this coming and tried to sell their store credit card unit last year before the crisis really accelerated but no one was interested. Wow I wonder why no one wanted to buy a sinking ship.


LinkBack URL
About LinkBacks




Reply With Quote

