Financial carnage spreads to GE

We don't speak much of GE here, but the financial crisis has really hurt GE Financial. Fortune notes that the world still tends to think of GE as a diversified industrial company, but the fact is that "for years, about half of GE's prodigious profits have come from General Electric Capital, a 100 percent-owned affiliate." It has "ventured into practically every kind of financial service," from making car loans to investing in commercial real estate in Florida to credit cards. For the longest time, it seemed smart, up until it was forced to turn to Warren Buffett for an emergency injection of $3 billion. This is an eye-catching article that clarifies just how seductive the financial services industry can be, and how it can drag so many good companies down.  

For more:
- here's the article

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