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Stock impact report

GE is unloading yet another business [CNNMoney.com]

STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. (STWD) 
Last starwood property trust, inc. starwood property trust inc. earnings: 2/25 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.starwoodpropertytrust.com
Company Research Source: CNNMoney.com
GE is unloading yet another businessGeneral Electric's crown jewel just got a bit smaller.GE Aviation, the bright spot in the embattled conglomerate, agreed on Thursday to unload a Baltimore-based business for $630 million in cash.The sale of Middle River Aircraft Systems, which makes thrust reversers that slow jets and hard casings for engines, is the latest in a long series of deals that have shrunk GEs vast empire.Singapore Technologies Engineering is buying the aviation business in a bid to "scale up" its own aerospace capabilities. Middle River Aircraft Systems employs about 800 people and has designed and built aircraft for almost 90 years.The $630 million price is subject to change based on certain factors, including GE's underfunded pension obligations. After years of inattention and historically low interest rates,GE (GE)has built up the biggest pension shortfall in the S&P 500.GE has been dismantling its empire to pay down a mountain of debt and simplify the complex company Show less Read more
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