GE Money’s exit from the local finance industry in Australia is an excellent case study in how NOT to treat clients and the distribution channel.

If one was to follow the trail of events prior to GE's ungainly exit, it quickly becomes apparent that they could not have done any worse if they tried. In fact it was so bad that if they ever decide to re-enter the market in Australia, they will meet such vehement opposition from brokers and clients that they would be forced to abandon such an attempt before it began.

Less than three months prior to announcing they would not pass on any of the Reserve Bank’s 100 basis points October rate cut (Australian Broker Magazine), GE Money invited their core mortgage managers to Melbourne for a presentation. That same day, their Australasian CEO had proudly announced in the Financial Review that GE would be the dominant player in the wholesale funding market by 2010. Indeed, all who attended the presentation were encouraged to read this article.

• Capital One Motorcycle Loan

• Map Of Europe Countries Capitals

• Rigel Capital Management

• The Capital Of Dominican Republic

• Millgate Capital London

  Millgate Capital, Inc. is a privately owned hedge fund sponsor. The firm invests in the public equity and hedging markets. It invests in the value stocks of companies ...