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Five Dumbest Things on Wall Street: Nov. 14

GE's Intergalactic Yard Sale

General Electric's (GE - Get Report) brass can stop sweating. The geeks are coming to save the day.

The company's NBC Universal division, which is undergoing a huge cost-cutting drive, has completed plans to auction props, costumes and set pieces from its Sci Fi Channel cult favorite Battlestar Galactica.

The entertainment goliath booked a weekend at the Pasadena Convention Center for the event, just in time to kick off the show's second half of its final season on Jan. 16, according to the Hollywood Reporter. A portion of the auction's proceeds will benefit United Way.

The auction is shaping up to be one of the largest events ever planned around the conclusion of a TV series, with faithful fans jetting in from around the world for the bidding. BSG collectibles up for sale include spaceship props, the desk used by Admiral Adama (Edward James Olmos), and up to a dozen costumes from each major character, including a red dress worn by Caprica-Six (Tricia Helfer).

"We are also really excited to be able to offer both fans and collectors this incredible opportunity to own a piece of science fiction television history as the series concludes," says NBC Universal Television executive Stacey Ward.

How nice. Just a little something for the fans. It's not like the studio is desperate for cash after NBC Universal CEO Jeff Zucker announced plans last month to cut spending by $500 million next year. That wouldn't have anything to do with it, right?

Of course, Zucker is just channeling pressure from his boss, GE CEO Jeffrey Immelt, who is under increasing pressure to ditch the TV and movie studio after a 22% drop in third-quarter earnings last month.

Sadly, unloading useless items from hit shows is becoming a regular source of revenue for the studio.

Maybe they should skip the middleman and produce a new auction reality show. They can call it "Immelt's Yard Sale."

Dumb-o-meter score: 95 -- Is Battlestar Galactica the one with Luke Skywalker? Somebody call a nerd!
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