GE transportation for sale?

We reported over the weekend there was talk of General Electric considering the sale of its transportation business.  That was first reported by Reuters news service, now the Wall Street Journal is saying the same thing.  The Journal reporting that GE is considering an exit from the locomotive business. 

The company is not commenting, but the word is reportedly coming from sources familiar with the matter.  The talk is of GE spinning off or selling the Transportation and Healthcare Information Technology business as it seeks to unload $20 billion in assets. 

The union representing Erie's GE workers, UE Local 506, says the reports are based on hearsay.  They declined further comment.


 


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