Nearly one million GE coffee makers were recalled this week by Walmart. The machines “are manufactured not by GE, but by a company in China using the GE trademark under license.”
The recall was announced Thursday, May 20. Walmart officials said the 12-cup maker is subject to overheating and is to blame for 83 reported kitchen fires, burns to the bodies of three people and other damage.the retail giant has reported the GE unit, model No. 169164 has been responsible for more than 80 injuries.
GE stock took a real beating yesterday, falling nearly 6% in response to the recalls before rebounding slightly by the end of yesterday’s trading.