Money / General Electric GE to Sell Appliances Unit Auction could fetch up to $8 billion By John Johnson, Newser Staff Posted May 14, 2008 6:17 PM CDT Copied General Electric Co. CEO Jeff Immelt, right, waits for the start of the company's annual shareholders meeting, Wednesday, April 23, 2008, in Erie, Pa. (AP Photo/Tony Dejak) General Electric plans to get out of the appliance business after more than 100 years, the Wall Street Journal reports. The company has asked Goldman Sachs to help auction its so-called "white goods" unit—washers, dryers, refrigerators, ranges, etc.—for up to $8 billion. The move follows weak first-quarter earnings and fits into CEO Jeffrey Immelt's plan to focus more on the company's technology holdings. (More General Electric stories.) Get breaking news in your inbox. What you need to know, as soon as we know it. Sign up Report an error