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Jack Welch, the former CEO of General Electric, has sold his Fairfield, Connecticut home for 6.9 million dollars. The selling price was approximately half of the original price it was listed at. Sort of like the GE stock price after he has left that company too. Welch has had the home for sale for 3 years.

Mr. Welch had asked as much as $13 million for the six-acre Fairfield estate, whose sale closed last month. The eight-bedroom, 10,700-square-foot Georgian-style house, built in 1985, has nine baths and indoor basketball and squash courts. Mr. Welch paid $3.25 million for the house, called “Windswept,” in 1990. Several years later he bought an adjacent two acres and combined the properties. The home also has three fireplaces and an attached one-bedroom guest house.
Mr. Welch put the property on the market during divorce proceedings from his second wife, Jane Beasley. The divorce became final in the summer of 2003, and Mr. Welch, 70 years old, is currently married to Suzy Welch, a former Harvard Business Review editor. The couple live in Boston. The property’s price tag underwent several reductions and one increase, with the most recent listing, set last October, at $8.4 million. Brokers who have shown the property over the years say aging kitchen amenities and the small bathrooms turned some buyers off. Mr. Welch declined to comment. The buyer is listed on the deed as Michael J. Jones Trustee. via WSJ.com (subscription required)

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