GE Lighting is up for sale, according to an article in Randy Reid’s Edison Report. His report, the first to come out in the lighting market, came out this morning and is based on an internal GE Lighting memo from GE Lighting CEO Bill Lacey.
That memo said in part, “Over the past year, we have made bold strategic changes aimed at strengthening and focusing our business. These actions position us well for continued growth and opportunity, no matter what our path, and today we start a potential new path.
“Today GE is formally beginning discussions with buyers around a proposed sale of our GE Lighting business. We are doing terrific things, leading the lighting industry and driving growth in the markets where we operate. We have an opportunity to accelerate this work as part of a potential new organization under new ownership where lighting is a priority and focus.”
Click here for some analysis on the deal by David Gordon, president, Channel Marketing Group, in a post on www.electricaltrends.com.
The Cleveland Plain Dealer also had an article on the potential sale.
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About the Author
Jim Lucy Blog
Chief Editor
Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.
