Exact(6)
"Do we want to conduct that experiment at a time when we've seen banks shedding assets, exiting businesses and pulling back a bit on lending?" he asked.
The €1bn was raised by exiting businesses such as the windpower company Infinis, listed in London, and the property group Deutsche Annington, which was floated in Germany.
"We are not canceling products or exiting businesses," Mr. Schwartz said, adding that Sun remained committed to using the open-source strategy as a way of trying to attract business.
"They're exiting businesses when they don't see growth, they're investing in technology when they do," said Noel M. Tichy, a professor at the University of Michigan Business School who frequently writes about G.E. "That strategy is finally paying off".
"Over the years, he has been amazingly lucky about exiting businesses for a profit," says CFO Subba Rao.
Splitting out the Access business improved the transparency of what's working and what's not, and allowed us to make better decisions about exiting businesses that weren't performing while investing in growth areas.
Similar(54)
The bank cut jobs and has been exiting business operations that did not meet certain targets.
And shareholders do not pressure companies to exit businesses with razor-thin margins or even ones that lose money.
REUTERS Hartford Financial to Wait for Favorable Conditions | The Hartford Financial Services Group, under pressure from John A. Paulson, said it was considering various transactions to exit businesses and reduce risk, Bloomberg News reports.
Brady W. Dougan, the Credit Suisse chief executive, is cutting 5,300 jobs and has exited businesses that required more capital and were relatively risky, like risk arbitrage and some proprietary trading.
HSBC said it had sold or exited businesses through a total of 28 transactions since the beginning of last year and would continue to do so at a similar pace over the next two years.
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