Central and Eastern Kentucky
(2009-10-29)
LOUISVILLE
(Kentucky Public Radio) -
General Electric's Consumer and Industrial CEO says the company remains dedicated to the division and Louisville's Appliance Park, more than one year after it was nearly spun-off into a separate business.
In a speech to the Rotary Club of Louisville, James Campbell said GE is continuing to work on new appliances to meet demands for energy-efficiency. But after his speech, Campbell said many customers may not be interested in the new appliances until unemployment drops.
"If either they're out of work or they feel their jobs are at risk, they're not going to go out and make a major purchase like a refrigerator or washer unless they absolutely have to, and we tend to just call it replacement demand. They've got to go buy it, so they're typically not going to upgrade," Campbell said.
Campbell said the drop in home purchases also hurt appliance sales, but he's optimistic now that some contractors are reporting a rise in home remodeling. GE indefinitely shelved plans to spin-off its consumer and industrial division late last year.
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