Nicholas Heymann Believe Quotations

Whirlpool has argued the merger should receive regulatory approval due to the global nature of the laundry market; however, with only two other domestic top-load washer manufacturers, we believe this lacks credibility.

We continue to believe the (Justice Department) will oppose the merger based on the potential for anti-competitive pricing by the merged entity.

We have decided to take the unusual step and reduce our rating on WHR to Sell to reflect what we strongly believe is the potential for significant near-term downside risk due to a series of massive changes rapidly altering the historic ways the appliance business is conducted in North America, ... The net result of this change will, in our opinion, be a slow, but steadily building decline in market share for WHR, accompanied by steadily increasing pricing pressures, which we believe could far disproportionately impact Whirlpool versus other manufacturers.

As one of the largest lenders to each carrier and having gone through more than 200 airline bankruptcy proceedings as a lender over the past three decades, we believe GE is very well positioned to ensure its shareholders' interests are adequately protected,