The Associated Press
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FAIRFIELD, CONN. -
General Electric is reportedly seeking a buyer for its 100-year-old appliance business.The Wall Street Journal reported that GE hired Goldman Sachs to run an auction for the Louisville, Ky.-based division. The sale could yield $5 billion to $8 billion, the newspaper said.Chief Executive Jeff Immelt has been under pressure to restructure the industrial and financial conglomerate, particularly since last month's surprising first-quarter earnings report that profits fell 6 percent.
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