GE’s Fight For Survival

Raising cash to begin retiring its huge debts, GE just announced a sale of its profitable and growing distributed generator business for $3 billion and its lighting division for an undisclosed sum. These announcements cap two months of disastrous corporate news including a $21 billion write off, a several notch downgrade in bond ratings, a sudden CEO switch, and a virtual elimination of the common stock dividend (cut from 12 cents to one cent per quarter on top of last year’s cut from 24 cents to 12 cents per quarter). As an aside, it seems…