Daily News: May 23, 2013

WSJ: GE to Shrink Finance Arm

The Wall Street Journal reported that GE chief executive Jeff Immelt said at an industry conference in Florida that GE Capital will be reduced to less than half its pre-crisis size by the end of 2014.

The Journal said that according to Immelt, GE Capital’s ending net investment should total $300 billion to $350 billion by the end of next year, compared to more than $630 billion in 2007 before the financial crisis.

To read the full WSJ article (subscription required) click here.