General Electric (NYSE: GE) is spinning off some assets, but the resulting deals seem to point to the problems that were created by the previous leadership under the guidance of former President and CEO Jeff Immelt.
The deals that are being cut by new GE head John Flannery are not clean separations and indicate what the legacy left to Mr. Flannery may be.
General Electric agreed to merge its railroad business with Wabtec Corporation. The company had been shopping this business since last fall and negotiations have been going on between General Electric and Wabtec for several months.
Steve Lohr of the New York Times begins his review of the transaction as follows:
