GE finance was spun off into Ally bank.
The other part of the turnaround though was the pension. Pension funds in a zero interest rate environment is a giant liability. That was a huge part of what drag down GE's finances for a while. Once the interest rate started to go back up again, the pension liability shrunk by a lot.
Overall, GE is in a much better position now then it was in the past two decades. I don't know why the post ends up on such a negative note. GE has been severely humbled but I think it's well positioned to grow again.
I've invested in GE twice, both during its downturns. This time I'm holding onto it because I think it's structurally in a better place than it was before.