GE Prepares Spinoff of Massive Consumer Lending Business

General Electric(GE) is the prototypical conglomerate. It is welll known for its turbines, its locomotives, its jet engines, and its finance division. Chastened by the financial crisis which GE entered as a finance company with some industrial assets attached, CEO Jeff Immelt has been on a multiyear mission to shift the company’s focus back to its industrial operations.…