General Electric (NYSE:GE) has recalled 1.3 million dishwashers sold between 2006 and 2009, citing a failure of the machines’ heating elements which can lead to fires.
Seven fires have been blamed on the defective dishwashers, including three which led to extensive damages. So far, the machines have not been implicated in any injuries or deaths.
The Consumer Product Safety Commission has urged anyone who owns on of the affected machines — which include GE, GE Adora, GE Eterna, GE Profile and Hotpoint dishwashers — to cease use and to shut off the machine’s fuse or circuit breaker. The CPSC has also asked that consumers not return the dishwashers directly to stores.
GE has promised rebates or repairs free of cost for owners of the recalled dishwashers.
Although the stock dropped after hours following Thursday’s announcement, GE shares had returned to Thursday’s closing price by mid-morning Friday.
– Ryan Hauck, InvestorPlace