GE to Take $2-Billion Pretax Charge

General Electric Co. said it will take a pretax charge of $2 billion in the fourth quarter to restructure its industrial businesses, in a move to lower costs and improve competitiveness. GE plans to reorganize the businesses, using money from a swap of Lockheed Martin Corp. preferred stock. GE will book an after-tax gain of $1.4 billion on the swap, spokesman Bruce Bunch said, offsetting the charge’s effect on fourth-quarter earnings. Fairfield, Conn.-based GE’s stock fell 88 cents to close at $73.75 on the NYSE.