General Electric (GE) To Sell Appliances Unit
General Electric (GE) plans to auction off its appliance business for as much as $8 billion, ending the company's long association with so-called "white goods". With appliance sales getting hit by the slowing U.S. economy and the housing bust, jettisoning the business could help GE reach its long-term goal of boosting profits by at least 10% annually. A sale could also help appease critics who are calling for a more dramatic restructuring of the 120-year-old company, a chorus that grew noisier after GE's surprise first-quarter earnings disappointment and forecast reduction last month. The appliance outfit consists of refrigerators, freezers, electric…