The way it MIGHT work is that ARIN would take the 3 block and in a controlled manner that won't break anything convert it into a bunch of /9 through /16 or even smaller blocks based on what GE is currently using. It would give GE a short period of time - maybe 30-90 days - to justify why it should be able to keep the blocks it is not currently using. If they give a good reason, they keep them. If they give no reason ("we have plans to use them in the next year, we'll show them to you if you sign an NDA" would be a good reason), they lose them. If they give a lame reason then it goes to some dispute resolution, effectively allowing GE to keep them for the duration of the dispute process.
Frankly, I'm surprised that ARIN didn't foresee this ages ago and ORDER anyone with a block bigger than, say, /12, to attempt to split up their address range, consolidate if practical, and return any unused blocks that were /16 or bigger. If this had been done, say, 10 years ago the process could have been be repeated 5 years ago but with the order applying to anyone with a range bigger than /16 to split, consolidate, and return any /25 or larger unused block. A year ago the same order could go out to everyone with a block bigger than /24 with an order for them to return all unused /24 blocks. I don't know if it's feasible for blocks smaller than a /24 to be handled by ARIN, but if it is, then they should start requesting those ultra-small blocks as well.
Oh well.
