Almo Appliances

UPDATED: Rumor Mill South America: GE Sold?

There is a rumor floating around South America that Mexican appliance manufacturer and GE partner, Mabe has nearly completed its purchase of GE Appliance.  This is a rumor in a foreign language.  It has not been confirmed.  It was not even the first rumor in the column in which it was found.
IMPORTANT:  Don't change jobs, buy stock, make decisions, propose to your girlfriend or operate heavy machinery based on this rumor.

As published October 1 in Terra Magazine: Venezuela, and painfully translated by the babelfish translation tool of Yahoo (late of Altavista).
See the column that we saw:  HERE, or read the full article reprinted below.

GE for Mabe
Then the purchase of GE Appliances on the part of Mabe is practically a fact, of Luis Berrondo.
They say that Jeff Immelt, captain of the American has more moored the process so that she is his partner the one that remains with the business of electric home appliances of the American this same year.
It is possible that this purchase reveals a new Mexican industrial giant that would compete by reflectors with greatest.
Clearly, everything depends on which volatileness is not going away to leave channel.

Background note:  Luis Berrondo is the president of Mabe.

If true, we believe that this is one of the better possible outcomes for GE employees and the country (ours that is).

UPDATE October 10:  Ostensible Blog Entry of GE Employee
IMPORTANT:  The entry below was copied and sent to us by a third party.  The Blog site exists but we cannot access it, therefore we cannot confirm that this is actually content on the blog.  We also cannot confirm if the person referenced is an employee of GE.
NOTE:  Names have been changed, information deleted and sections edited to protect the Blogger.

I thought Steve would work at GE until retirement, but I doubt that now.  The rumor which is supposed to be announced October 10, is that Mabe will buy GE Appliances.  Mabe is the Mexican company that Steve (visited).  Steve is working on his resume, and will begin applying for jobs after the announcement.  Some of those jobs are not in Louisville.

UPDATE October 10
Well we listened to Immelts weekly teleconference with analysts.  That was fun.  If they were going to announce a sale, it would have been during that call. Something might have been mentioned while we dozed off, but we don't think so.

I hope I'm wrong, but I find this unlikely.

It might just be the result of the partnership GE has had with LG for some time now, but I've noticed in the last 6 months or so that a far greater portion of the GE parts that come to our service department are made by LG. I also find it interesting that the bulk of GE's refrigerators are made in Korea and look just like LG's. With LG having made a few specific units in the past, this shouldn't be shocking. But I would be shocked if LG didn't buy up GE Appliances first. I do sincerely hope I'm wrong, but to me, that seems the more likely thing to happen.