GE Reports Lower Profits Oct 13, 2008

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General Electric reported 22% lower profits from 3Q 2008, results driven down by its finance business and Appliance operations. Net income dropped to US$4.31 billion, compared to profit of $5.6 billion a year earlier.

The company said that it remains in the midst of attempts begun last spring to spin off or sell its appliance business by mid-2009.

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