GE Capital to Split into Four
General Electric (GE ) will split its finance arm, GE Capital, into four parts: insurance, commercial finance, consumer finance and equipment. The plan, which includes the departure of GE Capital Chief Executive Denis Nayden, will give investors better insight to the unit's operations, GE said. S&P is keeping its hold rating. Business Week's Diane Brady says she doesn't think the reorganization will help alleviate GE Capital's problems, which include investors' concerns about where the unit makes its profit.
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