NNN?Business – GE is saying goodbye to its 129-year-old light bulb business – 5/31/20

By Matt EganCNN Business

Updated 12:35 PM ET, Wed May 27, 2020

New York (CNN Business)General Electric is saying goodbye to the light bulb. The conglomerate is shedding a struggling business founded by Thomas Edison more than a century ago.After years of failing to find a buyer, GE announced Wednesday it will sell its 129-year-old lighting division to smart home company Savant Systems.The deal marks the latest step in dismantling the GE empire, which is saddled with too much debt and poor-performing businesses.GE has previously unloaded units that make microwaves, locomotives and washing machines as well as NBC Universal and much of its troubled financial arm….Continue Reading At Cnn.com

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