The Appliances business was never really broken. It produced a tremendous amount of cash flow but leadership was only concerned about the margins and for years failed to invest in the business. Only in preparation for selling the business did they invest in updating the products, factories, IT Systems and ways of working.
The new Chinese owners also have been very smart at keeping the majority of the Appliances leadership who knew how to run the business in place while providing hope to employees of a longer term place to grow their careers. They have invested in the business and have not done massive intervention/ head count reductions as they realized that it is the employees who are the reason for the business profitability not just the executives.
As GE Leadership chased potential higher margins, they disposed of positive cash flow businesses which had been starved for years of basic levels of investments and now because of the lack of cash flow along with debt levels from poor acquisitions and dispositions by buying high and selling low they have no other choice but to sell off even more pieces of this once great company. Hopefully, there is a future.
Reposted from @XxiHTT3-3tsm .