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General Electric

General Electric

Overview

General Electric Company , or GE, is an American multinational
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...

 conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...

 corporation incorporated in Schenectady
Schenectady, New York
Schenectady is a city in Schenectady County, New York, United States, of which it is the county seat. As of the 2010 census, the city had a population of 66,135...

, New York and headquartered in Fairfield
Fairfield, Connecticut
Fairfield is a town located in Fairfield County, Connecticut, United States. It is bordered by the towns of Bridgeport, Trumbull, Easton, Redding and Westport along the Gold Coast of Connecticut. As of the 2010 census, the town had a population of 59,404...

, Connecticut, United States. The company operates through four segments: Energy, Technology Infrastructure
GE Technology Infrastructure
GE Technology Infrastructure is a business group of General Electric composed of three GE companies: GE Aviation, GE Healthcare, and GE Transportation. John G. Rice is president and CEO. A company-wide reorganization prompted by staggering financial losses led to the unit's formation in 2008 from...

, Capital Finance
GE Capital
GE Capital is the financial services unit of General Electric, one of five major units. Its various divisions include GE Capital Aviation Services, GE Capital Real Estate, GE Energy Financial Services and GE Money....

 and Consumer & Industrial.

In 2011, Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...

ranked GE the 6th largest firm in the U.S., as well as the 14th most profitable. Other rankings for 2011 include #7 company for leaders (Fortune), #5 best global brand (Interbrand
Interbrand
Interbrand, a division of Omnicom, is a global branding consultancy, specializing in vast brand services, including brand analytics, brand strategy, brand valuation, corporate design, digital brand management, and naming...

), #82 green company (Newsweek
Newsweek
Newsweek is an American weekly news magazine published in New York City. It is distributed throughout the United States and internationally. It is the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence...

), #13 most admired company (Fortune), and #19 most innovative company (Fast Company
Fast Company (magazine)
Fast Company is a full-color business magazine that releases 10 issues per year and reports on topics including innovation, digital media, technology, change management, leadership, design, and social responsibility...

).

By 1890, Thomas Edison
Thomas Edison
Thomas Alva Edison was an American inventor and businessman. He developed many devices that greatly influenced life around the world, including the phonograph, the motion picture camera, and a long-lasting, practical electric light bulb. In addition, he created the world’s first industrial...

 had brought together several of his business interests under one corporation to form Edison General Electric.
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Encyclopedia

General Electric Company , or GE, is an American multinational
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...

 conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...

 corporation incorporated in Schenectady
Schenectady, New York
Schenectady is a city in Schenectady County, New York, United States, of which it is the county seat. As of the 2010 census, the city had a population of 66,135...

, New York and headquartered in Fairfield
Fairfield, Connecticut
Fairfield is a town located in Fairfield County, Connecticut, United States. It is bordered by the towns of Bridgeport, Trumbull, Easton, Redding and Westport along the Gold Coast of Connecticut. As of the 2010 census, the town had a population of 59,404...

, Connecticut, United States. The company operates through four segments: Energy, Technology Infrastructure
GE Technology Infrastructure
GE Technology Infrastructure is a business group of General Electric composed of three GE companies: GE Aviation, GE Healthcare, and GE Transportation. John G. Rice is president and CEO. A company-wide reorganization prompted by staggering financial losses led to the unit's formation in 2008 from...

, Capital Finance
GE Capital
GE Capital is the financial services unit of General Electric, one of five major units. Its various divisions include GE Capital Aviation Services, GE Capital Real Estate, GE Energy Financial Services and GE Money....

 and Consumer & Industrial.

In 2011, Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...

ranked GE the 6th largest firm in the U.S., as well as the 14th most profitable. Other rankings for 2011 include #7 company for leaders (Fortune), #5 best global brand (Interbrand
Interbrand
Interbrand, a division of Omnicom, is a global branding consultancy, specializing in vast brand services, including brand analytics, brand strategy, brand valuation, corporate design, digital brand management, and naming...

), #82 green company (Newsweek
Newsweek
Newsweek is an American weekly news magazine published in New York City. It is distributed throughout the United States and internationally. It is the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence...

), #13 most admired company (Fortune), and #19 most innovative company (Fast Company
Fast Company (magazine)
Fast Company is a full-color business magazine that releases 10 issues per year and reports on topics including innovation, digital media, technology, change management, leadership, design, and social responsibility...

).

Formation


By 1890, Thomas Edison
Thomas Edison
Thomas Alva Edison was an American inventor and businessman. He developed many devices that greatly influenced life around the world, including the phonograph, the motion picture camera, and a long-lasting, practical electric light bulb. In addition, he created the world’s first industrial...

 had brought together several of his business interests under one corporation to form Edison General Electric. At about the same time, Thomson-Houston Electric Company
Thomson-Houston Electric Company
The Thomson-Houston Electric Company was a manufacturing company which was one of the precursors of the General Electric Company.The Thomson-Houston Electric Company was formed in 1883 in the United States when a group of Lynn, Massachusetts investors led by Charles A...

, under the leadership of Charles Coffin
Charles A. Coffin
Charles Albert Coffin was the cofounder and first President of General Electric corporation. He was born in Somerset, Massachusetts to Albert Coffin and his wife Anstrus Varney. He married Caroline Russell of Holbrook, Massachusetts and had three children.He moved to join his uncle Charles E...

, gained access to a number of key patents through the acquisition of a number of competitors. Subsequently, General Electric was formed by the 1892 merger of Edison General Electric of Schenectady
Schenectady, New York
Schenectady is a city in Schenectady County, New York, United States, of which it is the county seat. As of the 2010 census, the city had a population of 66,135...

, New York and Thomson-Houston Electric Company of Lynn
Lynn, Massachusetts
Lynn is a city in Essex County, Massachusetts, United States. The population was 89,050 at the 2000 census. An old industrial center, Lynn is home to Lynn Beach and Lynn Heritage State Park and is about north of downtown Boston.-17th century:...

, Massachusetts and both plants remain in operation under the GE banner to this day. The company was incorporated in New York, with the Schenectady plant as headquarters for many years thereafter. Around the same time, General Electric's Canadian counterpart, Canadian General Electric
Canadian General Electric
Canadian General Electric was a Canadian manufacturer of various electrical products. The company was a forerunner of General Electric Canada, now known as GE Canada. It was the Canadian counterpart of the American company General Electric.Canadian General Electric Co...

, was formed.

Public company


In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average
Dow Jones Industrial Average
The Dow Jones Industrial Average , also called the Industrial Average, the Dow Jones, the Dow 30, or simply the Dow, is a stock market index, and one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow...

 and still remains after years, the only one remaining on the Dow index.

In 1911 the National Electric Lamp Association (NELA) was absorbed into General Electric's existing lighting business. GE then established its lighting division headquarters at Nela Park
Nela Park
Nela Park is the headquarters of GE Lighting, and is located in East Cleveland, Ohio, United States. Today, GE Lighting is a part of GE's Consumer and Industrial business headquartered in Louisville, Kentucky...

 in East Cleveland
East Cleveland, Ohio
East Cleveland is a city in Cuyahoga County, Ohio, United States, and is the first suburb of Cleveland, Ohio. The population was 17,843 at the 2010 census....

, Ohio. Nela Park is still the headquarters for GE's lighting business.
In 1935, GE was one of the top 30 companies traded at the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...

.

RCA



The Radio Corporation of America (RCA) was founded by GE in 1919 to further international radio. GE used RCA as its retail arm for radio sales from 1919, when GE began production, until separation in 1930. RCA would quickly grow into an industrial giant of its own.

Power generation



GE's long history of working with turbine
Turbine
A turbine is a rotary engine that extracts energy from a fluid flow and converts it into useful work.The simplest turbines have one moving part, a rotor assembly, which is a shaft or drum with blades attached. Moving fluid acts on the blades, or the blades react to the flow, so that they move and...

s in the power generation field gave them the engineering know-how to move into the new field of aircraft turbosuperchargers. Led by Sanford Alexander Moss
Sanford Alexander Moss
Sanford Alexander Moss was an aviation engineer, he was the first to use a turbocharger on an aircraft engine.-Biography:...

, GE introduced the first superchargers during World War I, and continued to develop them during the Interwar period
Interwar period
Interwar period can refer to any period between two wars. The Interbellum is understood to be the period between the end of the Great War or First World War and the beginning of the Second World War in Europe....

. They became indispensable in the years immediately prior to World War II, and GE was the world leader in exhaust-driven supercharging when the war started. This experience, in turn, made GE a natural selection to develop the Whittle W.1 jet engine
Jet engine
A jet engine is a reaction engine that discharges a fast moving jet to generate thrust by jet propulsion and in accordance with Newton's laws of motion. This broad definition of jet engines includes turbojets, turbofans, rockets, ramjets, pulse jets...

 that was demonstrated in the United States in 1941. Although their early work with Whittle's designs was later handed to Allison Engine Company
Allison Engine Company
The Allison Engine Company was a U.S. aircraft engine manufacturer. In 1929, shortly after the death of James Allison, the company was purchased by the Fisher brothers. Fisher sold the company to General Motors, who owned it for most of its history...

, GE Aviation emerged as one of the world's largest engine manufacturers, second only to the well-founded, and older, British company; Rolls-Royce plc
Rolls-Royce plc
Rolls-Royce Group plc is a global power systems company headquartered in the City of Westminster, London, United Kingdom. It is the world’s second-largest maker of aircraft engines , and also has major businesses in the marine propulsion and energy sectors. Through its defence-related activities...

, which led the way in innovative, reliable and efficient, high-performance, heavy-duty, jet engine design and manufacture.

In 2002 GE acquired the wind power assets of Enron during its bankruptcy proceedings. Enron Wind
Enron Wind
Enron Wind Systems, part of the Enron group, were manufacturers of wind turbines. The group was formed after the acquisition in January 1997 of Zond Corporation of California, the largest US developer of wind-powered electricity at the time....

 was the only surviving U.S. manufacturer of large wind turbines at the time, and GE increased engineering and supplies for the Wind Division and doubled the annual sales to $1.2 billion in 2003. It acquired ScanWind
ScanWind
ScanWind was a Norwegian manufacturing company that produces wind turbines. In 2009 Scanwind was bought by General Electric, and formed the ground for GE Wind Energy as in Norway. The company has its head office in Trondheim and production facilities in Verdal, both Norway, as well as engineering...

 in 2009.

Some consumers boycott
Boycott
A boycott is an act of voluntarily abstaining from using, buying, or dealing with a person, organization, or country as an expression of protest, usually for political reasons...

ed GE light bulbs, refrigerators and other products in the 1980s and 1990s to protest GE’s role in nuclear weapon
Nuclear weapon
A nuclear weapon is an explosive device that derives its destructive force from nuclear reactions, either fission or a combination of fission and fusion. Both reactions release vast quantities of energy from relatively small amounts of matter. The first fission bomb test released the same amount...

s production.

Computing


GE was one of the eight major computer companies through all of the 1960s — with IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...

, the largest, called "Snow White" followed by the "Seven Dwarfs
History of IBM
International Business Machines, abbreviated IBM and nicknamed "Big Blue", is a multinational computer technology and IT consulting corporation headquartered in Armonk, New York, United States. The company is one of the few information technology companies with a continuous history dating back to...

": Burroughs, NCR
NCR Corporation
NCR Corporation is an American technology company specializing in kiosk products for the retail, financial, travel, healthcare, food service, entertainment, gaming and public sector industries. Its main products are self-service kiosks, point-of-sale terminals, automated teller machines, check...

, Control Data Corporation
Control Data Corporation
Control Data Corporation was a supercomputer firm. For most of the 1960s, it built the fastest computers in the world by far, only losing that crown in the 1970s after Seymour Cray left the company to found Cray Research, Inc....

, Honeywell
Honeywell
Honeywell International, Inc. is a major conglomerate company that produces a variety of consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments....

, RCA
RCA
RCA Corporation, founded as the Radio Corporation of America, was an American electronics company in existence from 1919 to 1986. The RCA trademark is currently owned by the French conglomerate Technicolor SA through RCA Trademark Management S.A., a company owned by Technicolor...

, UNIVAC
UNIVAC
UNIVAC is the name of a business unit and division of the Remington Rand company formed by the 1950 purchase of the Eckert-Mauchly Computer Corporation, founded four years earlier by ENIAC inventors J. Presper Eckert and John Mauchly, and the associated line of computers which continues to this day...

 and GE.

GE had an extensive line of general purpose and special purpose computers. Among them were the GE 200
GE-200 series
The GE-200 series was a family of small mainframe computers of the 1960s, built by General Electric.The main machine in the line was the GE-225. It used a 20-bit word, of which 13 bits could be used for an address. Along with the basic CPU the system could also include a floating-point unit, or...

, GE 400
GE-400 series
The GE-400 series were Time-sharing Information Systems computers by General Electric introduced in 1964 and shipped until 1968.They used 24-bit words storing binary words, 4 6-bit BCD characters or 4 signed decimal digits...

, and GE 600
GE-600 series
The GE-600 series was a family of 36-bit mainframe computers originating in the 1960s, built by General Electric . When GE left the mainframe business the line was sold to Honeywell, who built similar systems into the 1990s as the division moved to Groupe Bull and then NEC.-Architecture:The 600...

 series general purpose computers, the GE 4010, GE 4020, and GE 4060 real time process control computers, the Datanet 30 and Datanet 355 message switching computers (Datanet 30 and 355 were also used as front end processors for GE mainframe computers). A Datanet 500 computer was designed, but never sold.

In 1962, GE started developing its GECOS
Gecos
GECOS or gecos may stand for:*General Electric Comprehensive Operating Supervisor , which was later renamed to General Comprehensive Operating System...

 (later renamed GCOS) operating system
Operating system
An operating system is a set of programs that manage computer hardware resources and provide common services for application software. The operating system is the most important type of system software in a computer system...

, originally for batch processing
Batch processing
Batch processing is execution of a series of programs on a computer without manual intervention.Batch jobs are set up so they can be run to completion without manual intervention, so all input data is preselected through scripts or command-line parameters...

, but later extended to timesharing and transaction processing
Transaction processing
In computer science, transaction processing is information processing that is divided into individual, indivisible operations, called transactions. Each transaction must succeed or fail as a complete unit; it cannot remain in an intermediate state...

. Versions of GCOS are still in use today.

In 1964–1969, GE and Bell Laboratories (which soon dropped out) joined with MIT
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...

 to develop the pioneering and influential Multics
Multics
Multics was an influential early time-sharing operating system. The project was started in 1964 in Cambridge, Massachusetts...

 operating system on the GE 645 mainframe computer. The project took longer than expected and was not a major commercial success, but it demonstrated important concepts such as single level store, dynamic linking, hierarchical file system
Hierarchical File System
Hierarchical File System is a file system developed by Apple Inc. for use in computer systems running Mac OS. Originally designed for use on floppy and hard disks, it can also be found on read-only media such as CD-ROMs...

, and ring-oriented security
Ring (computer security)
In computer science, hierarchical protection domains, often called protection rings, are a mechanism to protect data and functionality from faults and malicious behaviour . This approach is diametrically opposite to that of capability-based security.Computer operating systems provide different...

. Active development of Multics continued until 1985.

It has been said that GE got into computer manufacturing because in the 1950s they were the largest user of computers outside of the United States federal government. However, in 1970, GE sold its computer division to Honeywell
Honeywell
Honeywell International, Inc. is a major conglomerate company that produces a variety of consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments....

, exiting the computer manufacturing industry, though it retained its timesharing operations for some years afterwards. GE was a major provider of computer timesharing services, through General Electric Information Services (GEIS, now GXS), offering online computing services that included GEnie
GEnie
GEnie was an online service created by a General Electric business - GEIS that ran from 1985 through the end of 1999. In 1994, GEnie claimed around 350,000 users. Peak simultaneous usage was around 10,000 users...

.

Acquisitions


For a complete list of acquisitions and divestitures, see General Electric timeline
General Electric timeline
-1876-1950:-1950-2000:-2000 and beyond:...


In 1986 GE reacquired RCA, primarily for the NBC
NBC
The National Broadcasting Company is an American commercial broadcasting television network and former radio network headquartered in the GE Building in New York City's Rockefeller Center with additional major offices near Los Angeles and in Chicago...

 television network (also parent of Telemundo Communications Group
Telemundo Communications Group
Telemundo Communications Group LLC & Subsidiaries , a division of NBCUniversal, is a world-class media company, leading the industry in the production and distribution of high-quality Spanish-language content across its multiplatform portfolio to U.S. Hispanics and audiences around the world...

). The remainder was sold to various companies, including Bertelsmann
Bertelsmann
Bertelsmann AG is a multinational media corporation founded in 1835, based in Gütersloh, Germany. The company operates in 63 countries and employs 102,983 workers , which makes it the most international media corporation in the world. In 2008 the company reported a €16.118 billion consolidated...

 (Bertelsmann acquired RCA Records
RCA Records
RCA Records is one of the flagship labels of Sony Music Entertainment. The RCA initials stand for Radio Corporation of America , which was the parent corporation from 1929 to 1985 and a partner from 1985 to 1986.RCA's Canadian unit is Sony's oldest label...

) and Thomson SA
Thomson SA
Technicolor SA , formerly Thomson SA and Thomson Multimedia, is a French international provider of solutions for the creation, management, post-production, delivery and access of video, for the Communication, Media and Entertainment industries. Technicolor’s headquarters are located in Issy les...

 which traces its roots to Thomson-Houston, one of the original components of GE.

Also in 1986, Kidder, Peabody & Co. a U.S.-based securities firm was sold to GE and following heavy losses was subsequently sold to PaineWebber in 1994.

In 2002 Francisco Partners and Norwest Venture Partners
Norwest venture partners
Norwest Venture Partners is a global, multi-stage investment firm focused on investments in early to late stage venture and growth equity investments in U.S...

 acquired a division of GE called GE Information Systems (GEIS). The new company, named GXS, is based in Gaithersburg, Maryland
Gaithersburg, Maryland
Gaithersburg is a city in Montgomery County, Maryland, United States. The city had a population of 59,933 at the 2010 census, making it the fourth largest incorporated city in the state, behind Baltimore, Frederick, and Rockville...

. GXS is a leading provider of B2B e-Commerce solutions. GE maintains a minority ownership position in GXS.

Also in 2002, GE bought wind turbine
Wind turbine
A wind turbine is a device that converts kinetic energy from the wind into mechanical energy. If the mechanical energy is used to produce electricity, the device may be called a wind generator or wind charger. If the mechanical energy is used to drive machinery, such as for grinding grain or...

 manufacturing assets of Enron Wind
Enron Wind
Enron Wind Systems, part of the Enron group, were manufacturers of wind turbines. The group was formed after the acquisition in January 1997 of Zond Corporation of California, the largest US developer of wind-powered electricity at the time....

 after the Enron scandal
Enron scandal
The Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world...

s.

In 2004 GE bought 80% of Universal Pictures from Vivendi
Vivendi
Vivendi SA is a French international media conglomerate with activities in music, television and film, publishing, telecommunications, the Internet, and video games. It is headquartered in Paris.- History :...

. Vivendi bought 20% of NBC forming the company NBCUniversal. GE then owned 80% of NBC Universal and Vivendi owned 20%. As of January 28, 2011 GE owns 49% and Comcast 51%.

In 2004 GE completed the spin-off
Spin out
A spin-out, also known as a spin-off or a starburst, refers to a type of corporate action where a company "splits off" sections of itself as a separate business....

 of most of its mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...

 and life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...

 assets into an independent company, Genworth Financial
Genworth Financial
Genworth Financial is a Fortune 500 global financial security company that specializes in life and long term care insurance, wealth management, mortgage insurance, lifestyle protection insurance and annuities...

, based in Richmond, Virginia
Richmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...

.

Genpact
Genpact
Genpact Limited is a global business process and technology management company. It was formerly a GE owned company called GE Capital International Services or GECIS. It operates from India, China, Guatemala, Hungary, México, Morocco, the Philippines, Poland, the Netherlands, Romania, Spain, South...

 formerly known as GE Capital International Services (GECIS) was established by GE in late 1997 as its captive India based BPO
Business process outsourcing
Business process outsourcing is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca Cola that outsourced large segments...

. GE sold 60% stake in Genpact to General Atlantic and Oak Hill Capital Partners in 2005 and hived off Genpact into an independent business. GE is still a major client to Genpact getting its services in customer service, finance, information technology and analytics.

GE Plastics was sold in 2007 to SABIC
SABIC
SABIC is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia as listed in Tadawul, but the Saudi government still owns 70% of its shares...

.

In May 2007, GE acquired Smiths Aerospace
Smiths Aerospace
GE Aviation Systems .Smiths Aerospace was formerly one of four business units of Smiths Group plc., an engineering company and constituent of the FTSE 100 share index. However, it was announced on January 15, 2007 that Smiths Group was divesting Smiths Aerospace to General Electric for US $4.8...

 for $4.8 billion.

In May 2008, GE announced it was exploring options for divesting the bulk of its Consumer and Industrial business.

General Electric's Schenectady, New York
Schenectady, New York
Schenectady is a city in Schenectady County, New York, United States, of which it is the county seat. As of the 2010 census, the city had a population of 66,135...

 facilities (including GE's original headquarters) are assigned the ZIP code 12345. (All Schenectady ZIP codes begin with 123, but no others begin with 1234.)

On December 3, 2009, it was announced that NBCUniversal will become a joint venture between GE and cable television operator Comcast
Comcast
Comcast Corporation is the largest cable operator, home Internet service provider, and fourth largest home telephone service provider in the United States, providing cable television, broadband Internet, and telephone service to both residential and commercial customers in 39 states and the...

. The cable giant will hold a controlling interest in the company, while GE retains a 49% stake and will buy out shares currently owned by Vivendi.

Vivendi will sell its 20% stake in NBCUniversal to GE for US$5.8 billion. Vivendi will sell 7.66% of NBCUniversal to GE for US$2 billion if the GE/Comcast deal is not completed by September 2010 and then sell the remaining 12.34% stake of NBCUniversal to GE for US$3.8 billion when the deal is completed or to the public via an IPO if the deal is not completed.

On March 1, 2010, General Electric (GE) announced that the company is planning to sell its 20.85% stake in Turkey-based Garanti Bank.

In August 2010, GE Healthcare signed a strategic partnership to bring cardiovascular Computed Tomography (CT) technology from start-up Arineta Ltd. of Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...

 to the hospital market.

In October 2010, General Electric acquired gas engines manufacture Dresser Inc.
Dresser Industries
Dresser Industries was a multinational corporation headquartered in Dallas, Texas, United States, which provided a wide range of technology, products, and services used for developing energy and natural resources...

 for a $3 billion deal and also bought a $1.6 billion portfolio of retail credit cards from Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...

 Inc. This is the first major deal since the start of the financial crisis.

On October 14, 2010, GE announced acquisition of data migration & SCADA simulation specialists Opal Software.

December 2010: For the second times of this year (after Dresser acquisition), General Electric Co. buy oil sector company British Wellstream Holding Plc. an oil drilling pipe maker for 800 million pounds ($1.3 billion).

February 2011: The company has agreed to buy the well-support division of John Wood Group Plc for about $2.8 billion. It is another aggressive moves recently of GE Oil & Gas made GE's acquisition was the largest of oil-service unit world wide in 2010.

March 2011: GE announced it has completed the acquisition of privately-held Lineage Power Holdings, Inc., from The Gores Group, LLC.
GE Capital sold its $2 billion dollar Mexican assets to Santander
Santander
-People:*Francisco de Paula Santander , a Colombian military and political leader born in Cúcuta*Kike Santander , a Colombian composer and record producer born in Santiago de Cali...

 for $162 million and exit the business in Mexico. Santander will additionally assume the portfolio debts of GE Capital in the country. The transaction will be finished at first half of 2011. GE Capital will focus in the core business and will shed its non-core assets.

Corporate affairs



GE is a multinational conglomerate headquartered in Fairfield, Connecticut
Fairfield, Connecticut
Fairfield is a town located in Fairfield County, Connecticut, United States. It is bordered by the towns of Bridgeport, Trumbull, Easton, Redding and Westport along the Gold Coast of Connecticut. As of the 2010 census, the town had a population of 59,404...

. Its New York main offices are located at 30 Rockefeller Plaza in Rockefeller Center
Rockefeller Center
Rockefeller Center is a complex of 19 commercial buildings covering between 48th and 51st streets in New York City, United States. Built by the Rockefeller family, it is located in the center of Midtown Manhattan, spanning the area between Fifth Avenue and Sixth Avenue. It was declared a National...

, known as the GE Building
GE Building
The GE Building is an Art Deco skyscraper that forms the centerpiece of Rockefeller Center in the midtown Manhattan section of New York City. Known as the RCA Building until 1988, it is most famous for housing the headquarters of the television network NBC...

 for the prominent GE logo on the roof. NBC's headquarters and main studios are also located in the building. Through its RCA subsidiary, it has been associated with the Center since its construction in the 1930s.

The company describes itself as composed of a number of primary business units or "businesses." Each unit is itself a vast enterprise, many of which would, even as a standalone company, rank in the Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...

. The list of GE businesses varies over time as the result of acquisitions, divestitures and reorganizations. GE's tax return is the largest return filed in the United States; the 2005 return was approximately 24,000 pages when printed out, and 237 megabytes when submitted electronically. The company also "spends more on U.S. lobbying
Lobbying
Lobbying is the act of attempting to influence decisions made by officials in the government, most often legislators or members of regulatory agencies. Lobbying is done by various people or groups, from private-sector individuals or corporations, fellow legislators or government officials, or...

 than any other company."

In 2005 GE launched its "Ecomagination" initiative in an attempt to position itself as a "green" company. GE is currently one of the biggest players in the wind power industry, and it is also developing new environment-friendly products such as hybrid locomotives, desalination and water reuse solutions, and photovoltaic cells. The company "plans to build the largest solar-panel-making factory in the U.S.," and has set goals for its subsidiaries to lower their greenhouse gas emissions.

On May 21, 2007, GE announced it would sell its GE Plastics division to petrochemicals manufacturer SABIC
SABIC
SABIC is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia as listed in Tadawul, but the Saudi government still owns 70% of its shares...

 for net proceeds of $11.6 billion. The transaction took place on August 31, 2007, and the company name changed to SABIC Innovative Plastics, with Brian Gladden as CEO.

CEO



Jeffrey Immelt
Jeffrey R. Immelt
Jeffrey Robert "Jeff" Immelt is an American business executive. He is currently the chairman of the board and chief executive officer of the U.S.-based conglomerate General Electric. He was selected by GE's Board of Directors in 2000 to replace Jack Welch following his retirement...

 is the current chairman of the board and chief executive officer of GE. He was selected by GE's Board of Directors in 2000 to replace John Francis Welch Jr. (Jack Welch
Jack Welch
John Francis "Jack" Welch, Jr. is an American chemical engineer, business executive, and author. He was Chairman and CEO of General Electric between 1981 and 2001...

) following his retirement.
Previously, Immelt had headed GE's Medical Systems division (now GE Healthcare) as its President and CEO.

His tenure as the Chairman and CEO started at a time of crisis — he took over the role on September 7, 2001 four days before the terrorist attacks on the United States, which killed two employees and cost GE's insurance business $600 million — as well as having a direct effect on the company's Aircraft Engines sector. Immelt has also been selected as one of President Obama's financial advisors concerning the economic rescue plan.

Businesses


GE's divisions include GE Capital
GE Capital
GE Capital is the financial services unit of General Electric, one of five major units. Its various divisions include GE Capital Aviation Services, GE Capital Real Estate, GE Energy Financial Services and GE Money....

, GE Energy, GE Technology Infrastructure
GE Technology Infrastructure
GE Technology Infrastructure is a business group of General Electric composed of three GE companies: GE Aviation, GE Healthcare, and GE Transportation. John G. Rice is president and CEO. A company-wide reorganization prompted by staggering financial losses led to the unit's formation in 2008 from...

, and GE Home & Business Solutions

Through these businesses, GE participates in a wide variety of markets including the generation, transmission and distribution of electricity (e.g. nuclear, gas and solar), lighting
Lighting
Lighting or illumination is the deliberate application of light to achieve some practical or aesthetic effect. Lighting includes the use of both artificial light sources such as lamps and light fixtures, as well as natural illumination by capturing daylight...

, industrial automation
Automation
Automation is the use of control systems and information technologies to reduce the need for human work in the production of goods and services. In the scope of industrialization, automation is a step beyond mechanization...

, medical imaging
Medical imaging
Medical imaging is the technique and process used to create images of the human body for clinical purposes or medical science...

 equipment, motor
Electric motor
An electric motor converts electrical energy into mechanical energy.Most electric motors operate through the interaction of magnetic fields and current-carrying conductors to generate force...

s, railway locomotives
Locomotive
A locomotive is a railway vehicle that provides the motive power for a train. The word originates from the Latin loco – "from a place", ablative of locus, "place" + Medieval Latin motivus, "causing motion", and is a shortened form of the term locomotive engine, first used in the early 19th...

, aircraft jet engine
Jet engine
A jet engine is a reaction engine that discharges a fast moving jet to generate thrust by jet propulsion and in accordance with Newton's laws of motion. This broad definition of jet engines includes turbojets, turbofans, rockets, ramjets, pulse jets...

s, and aviation
Aviation
Aviation is the design, development, production, operation, and use of aircraft, especially heavier-than-air aircraft. Aviation is derived from avis, the Latin word for bird.-History:...

 services. It co-owns NBCUniversal with Comcast
Comcast
Comcast Corporation is the largest cable operator, home Internet service provider, and fourth largest home telephone service provider in the United States, providing cable television, broadband Internet, and telephone service to both residential and commercial customers in 39 states and the...

. Through GE Commercial Finance, GE Consumer Finance, GE Equipment Services, and GE Insurance it offers a range of financial services as well. It has a presence in over 100 countries.

GE also produces General Imaging digital cameras. In 2010, General Imaging released the Bridge Camera GE X5 with 14MP and 15x optical zoom. In 2011, it is replaced by 16MP GE X500 with optional red color in Japan besides traditional black or white color in world wide.

Since over half of GE's revenue is derived from financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...

, it is arguably a financial company with a manufacturing arm. It is also one of the largest lenders in countries other than the United States, such as Japan. Even though the first wave of conglomerates (such as ITT Corporation
ITT Corporation
ITT Corporation is a global diversified manufacturing company based in the United States. ITT participates in global markets including water and fluids management, defense and security, and motion and flow control...

, Ling-Temco-Vought
Ling-Temco-Vought
Ling-Temco-Vought was a large U.S. conglomerate which existed from 1969 to 2000. At its peak, its component parts were involved in the aerospace industry, electronics, steel manufacturing, sporting goods, the airline industry, meat packing, car rentals and pharmaceuticals, among other...

, Tenneco
Tenneco
Tenneco is a $6.2 billion Fortune 500 company that has been publicly traded on the NYSE since November 5, 1999 under the symbol TEN...

, etc.) fell by the wayside by the mid-1980s, in the late 1990s, another wave (consisting of Westinghouse
Westinghouse Electric (1886)
Westinghouse Electric was an American manufacturing company. It was founded in 1886 as Westinghouse Electric Company and later renamed Westinghouse Electric Corporation by George Westinghouse. The company purchased CBS in 1995 and became CBS Corporation in 1997...

, Tyco
Tyco International
Tyco International Ltd. is a highly diversified global manufacturing company incorporated in Switzerland, with United States operational headquarters in Princeton, New Jersey...

, and others) tried and failed to emulate GE's success.

It was announced on May 4, 2008 that GE would auction off its appliances business for an expected sale of $5–8 billion. However, this plan fell through as a result of the recession.

Corporate recognition and rankings


In 2011, Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...

ranked GE the 6th largest firm in the U.S., as well as the 14th most profitable. Other rankings for 2011 include the following:
  • #7 company for leaders (Fortune)
  • #5 best global brand (Interbrand
    Interbrand
    Interbrand, a division of Omnicom, is a global branding consultancy, specializing in vast brand services, including brand analytics, brand strategy, brand valuation, corporate design, digital brand management, and naming...

    )
  • #82 green company (Newsweek
    Newsweek
    Newsweek is an American weekly news magazine published in New York City. It is distributed throughout the United States and internationally. It is the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence...

    )
  • #13 most admired company (Fortune)
  • #19 most innovative company (Fast Company
    Fast Company (magazine)
    Fast Company is a full-color business magazine that releases 10 issues per year and reports on topics including innovation, digital media, technology, change management, leadership, design, and social responsibility...

    ).


For 2010, GE's brand was valued at $42.8 billion. CEO Jeffrey Immelt had a set of changes in the presentation of the brand commissioned in 2004, after he took the reins as chairman, to unify the diversified businesses of GE. The changes included a new corporate color palette, small modifications to the GE Logo, a new customized font (GE Inspira
GE Inspira
GE Inspira is a typeface developed by Michael Abbink around 2002 for the new visual identity system of the General Electric Company. Since it is a proprietary typeface of GE, not much is known about it. According to the GE Brand Manual, the typeface is at the forefront of GE's brand expression and...

), and a new slogan, "imagination at work" replacing the longtime slogan "we bring good things to life", composed by David Lucas. The standard requires many headlines to be lowercased and adds visual "white space" to documents and advertising to promote an open and approachable company. The changes were designed by Wolff Olins
Wolff Olins
Wolff Olins is a brand consultancy, based in London, New York City and Dubai. It employs 150 designers, strategists and account managers, and has been part of the Omnicom Group since 2001.-History:...

 and are used extensively on GE's marketing, literature and website.

Recent controversies


During the 2011 Fukushima I Nuclear Power Plant
Fukushima I Nuclear Power Plant
The , also known as Fukushima Dai-ichi , is a disabled nuclear power plant located on a site in the towns of Okuma and Futaba in the Futaba District of Fukushima Prefecture, Japan. First commissioned in 1971, the plant consists of six boiling water reactors...

 catastrophe it became public that the six reactors in the plant had been designed by General Electric and that critics had opposed GE's design as far back as 1972.

In March 2011, The New York Times reported that despite earning $14.2 billion in worldwide profits, including more than $5 billion from U.S. operations, General Electric did not owe taxes in 2010. General Electric had a tax benefit of $3.2 billion. This same article also pointed out that GE has reduced their American workforce by one fifth since 2002.

Pollution


GE has a history of some of its activities giving rise to large-scale air and water pollution. Based on year 2000 data, researchers at the Political Economy Research Institute listed the corporation as the fourth-largest corporate producer of air pollution in the United States, with more than 4.4 million pounds per year (2,000 tons) of toxic chemicals released into the air. GE has also been implicated in the creation of toxic waste
Toxic waste
Toxic waste is waste material that can cause death or injury to living creatures. It spreads quite easily and can contaminate lakes and rivers. The term is often used interchangeably with “hazardous waste”, or discarded material that can pose a long-term risk to health or environment.Toxic waste...

. According to EPA
United States Environmental Protection Agency
The U.S. Environmental Protection Agency is an agency of the federal government of the United States charged with protecting human health and the environment, by writing and enforcing regulations based on laws passed by Congress...

 documents, only the United States Government, Honeywell
Honeywell
Honeywell International, Inc. is a major conglomerate company that produces a variety of consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments....

, and Chevron Corporation
Chevron Corporation
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...

 are responsible for producing more Superfund
Superfund
Superfund is the common name for the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 , a United States federal law designed to clean up sites contaminated with hazardous substances...

 toxic waste sites.

In 1983, New York State Attorney General
New York State Attorney General
The New York State Attorney General is the chief legal officer of the State of New York. The office has been in existence in some form since 1626, under the Dutch colonial government of New York.The current Attorney General is Eric Schneiderman...

 Robert Abrams
Robert Abrams
Robert Abrams is an American lawyer and politician.-Life and career:He graduated from Columbia College and the New York University School of Law. He is considered a member of the reform wing of the Democratic Party.Abrams was a member of the New York State Assembly representing the Bronx from 1966...

 filed suit in the United States District Court for the Northern District of New York
United States District Court for the Northern District of New York
The United States District Court for the Northern District of New York serves one of the 94 judicial districts in the United States and one of four in the state of New York. The U.S. Attorney for the district is Richard S. Hartunian...

 to compel GE to pay for the cleanup of what was claimed to be more than 100,000 tons of chemicals dumped (legally, at the time) from their plant in Waterford, New York. In 1999, the company agreed to pay a $250 million settlement in connection with claims it polluted the Housatonic River
Housatonic River
The Housatonic River is a river, approximately long, in western Massachusetts and western Connecticut in the United States. It flows south to southeast, and drains about of southwestern New England into Long Island Sound...

 (Pittsfield, Massachusetts
Pittsfield, Massachusetts
Pittsfield is the largest city and the county seat of Berkshire County, Massachusetts, United States. It is the principal city of the Pittsfield, Massachusetts Metropolitan Statistical Area which encompasses all of Berkshire County. Its area code is 413. Its ZIP code is 01201...

) and other sites with polychlorinated biphenyl
Polychlorinated biphenyl
Polychlorinated biphenyls are a class of organic compounds with 2 to 10 chlorine atoms attached to biphenyl, which is a molecule composed of two benzene rings. The chemical formula for PCBs is C12H10-xClx...

s (PCBs) and other hazardous substances.

From approximately 1947 to 1977, GE discharged as much as 1.3 million pounds of PCB
Polychlorinated biphenyl
Polychlorinated biphenyls are a class of organic compounds with 2 to 10 chlorine atoms attached to biphenyl, which is a molecule composed of two benzene rings. The chemical formula for PCBs is C12H10-xClx...

s from its capacitor
Capacitor
A capacitor is a passive two-terminal electrical component used to store energy in an electric field. The forms of practical capacitors vary widely, but all contain at least two electrical conductors separated by a dielectric ; for example, one common construction consists of metal foils separated...

 manufacturing plants at the Hudson Falls
Hudson Falls, New York
Hudson Falls is a village located in Washington County, New York, USA. The village is in the southwest part of the town of Kingsbury, on US Route 4. Hudson Falls is part of the Glens Falls Metropolitan Statistical Area. As of the 2000 census, the village had a population of 6,927...

 and Fort Edward
Fort Edward (town), New York
Fort Edward is a town in and the county seat of Washington County, New York, United States. It is part of the Glens Falls Metropolitan Statistical Area. The town population was 5,892 at the 2000 census....

 upstate New York facilities into the Hudson River
Hudson River
The Hudson is a river that flows from north to south through eastern New York. The highest official source is at Lake Tear of the Clouds, on the slopes of Mount Marcy in the Adirondack Mountains. The river itself officially begins in Henderson Lake in Newcomb, New York...

. GE fought a media and political battle to avoid cleaning up the river and countered that dredging the river would actually stir up PCBs. In 2002, GE was ordered to clean up a 40 miles (64.4 km) stretch of the Hudson River it had contaminated.

In 2003, acting on concerns that the plan proposed by GE did not "provide for adequate protection of public health and the environment," the United States Environmental Protection Agency
United States Environmental Protection Agency
The U.S. Environmental Protection Agency is an agency of the federal government of the United States charged with protecting human health and the environment, by writing and enforcing regulations based on laws passed by Congress...

 issued a unilateral administrative order for the company to "address cleanup at the GE site" in Rome, Georgia
Rome, Georgia
Located in the foothills of the Appalachian Mountains, Rome is the largest city and the county seat of Floyd County, Georgia, United States. It is the principal city of the Rome, Georgia Metropolitan Statistical Area which encompasses all of Floyd County...

, also contaminated with PCBs.

The nuclear reactor
Nuclear reactor
A nuclear reactor is a device to initiate and control a sustained nuclear chain reaction. Most commonly they are used for generating electricity and for the propulsion of ships. Usually heat from nuclear fission is passed to a working fluid , which runs through turbines that power either ship's...

s involved in the 2011 crisis at Fukushima I
Fukushima I Nuclear Power Plant
The , also known as Fukushima Dai-ichi , is a disabled nuclear power plant located on a site in the towns of Okuma and Futaba in the Futaba District of Fukushima Prefecture, Japan. First commissioned in 1971, the plant consists of six boiling water reactors...

 in Japan are GE designs, and the architectural designs were done by Ebasco, formerly owned by GE. Concerns over the design and safety of these reactors were raised as early as 1975.

Environmental initiatives


On June 6, 2011, GE announced that it has licensed solar thermal technology from California-based eSolar for use in power plants that use both solar and natural gas.

On May 26, 2011, GE unveiled its EV Solar Carport, a carport
Carport
A carport is a covered structure used to offer limited protection to vehicles, primarily cars, from the elements. The structure can either be free standing or attached to a wall. Unlike most structures a carport does not have four walls, and usually has one or two...

 that incorporates solar panels on its roof, with electric vehicle charging stations under its cover.

In May 2005 GE announced the launch of a program called "Ecomagination," intended, in the words of CEO Jeff Immelt "to develop tomorrow's solutions such as solar energy, hybrid locomotives, fuel cells, lower-emission aircraft engines, lighter and stronger durable materials, efficient lighting, and water purification technology”. The announcement prompted an op-ed piece in The New York Times to observe that, "while General Electric's increased emphasis on clean technology
Clean technology
Clean technology includes recycling, renewable energy , information technology, green transportation, electric motors, green chemistry, lighting, Greywater, and many other appliances that are now more energy efficient. It is a means to create electricity and fuels, with a smaller environmental...

 will probably result in improved products and benefit its bottom line, Mr. Immelt's credibility as a spokesman on national environmental policy is fatally flawed because of his company's intransigence in cleaning up its own toxic legacy."

GE has said that it will invest $1.4 billion in clean technology research and development in 2008 as part of its Ecomagination initiative. As of October 2008, the scheme had resulted in 70 green products being brought to market, ranging from halogen lamps to biogas engines. In 2007, GE raised the annual revenue target for its Ecomagination initiative from $20 billion in 2010 to $25 billion following positive market response to its new product lines. In 2010, GE continued to raise its investment by adding $10 billion into Ecomagination over the next five years.

GE (General Electric) Energy's renewable energy
Renewable energy
Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...

 business has expanded greatly, to keep up with growing U.S. and global demand for clean energy. Since entering the renewable energy industry in 2002, GE has invested more than $850 million in renewable energy technology. In August 2008 it acquired Kelman Ltd, a Northern Ireland company specializing in advanced monitoring and diagnostics technologies for transformers used in renewable energy generation, and announced an expansion of its business in Northern Ireland in May 2010. In 2009, GE's renewable energy initiatives, which include solar power
Solar power
Solar energy, radiant light and heat from the sun, has been harnessed by humans since ancient times using a range of ever-evolving technologies. Solar radiation, along with secondary solar-powered resources such as wind and wave power, hydroelectricity and biomass, account for most of the available...

, wind power
Wind power
Wind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity, windmills for mechanical power, windpumps for water pumping or drainage, or sails to propel ships....

 and GE Jenbacher gas engines using renewable and non-renewable methane-based gases, employ more than 4,900 people globally and have created more than 10,000 supporting jobs.

GE Energy and Orion New Zealand Limited (Orion) have announced implementation of the first phase of a GE network management system to help improve power reliability for customers. GE's ENMAC Distribution Management System is the foundation of Orion's initiative. The system of smart grid technologies will significantly improve the network company's ability to manage big network emergencies and help it to restore power faster when outages occur.

GE unveiled a 40W replacement Energy Smart LED bulb, to be available late 2010 or early 2011. The company claims that the new LED bulb will provide a 77% energy savings and produce nearly the same light output as a 40W incandescent bulb, while lasting more than 25 times as long.

Educational initiatives


GE Healthcare is collaborating with The Wayne State University School of Medicine
Wayne State University School of Medicine
The Wayne State University School of Medicine is the largest single-campus medical school in the United States with more than 1,000 medical students. In addition to undergraduate medical education, the school offers master’s degree, Ph.D., and M.D.-Ph.D. programs in 14 areas of basic science to...

 and the Medical University of South Carolina
Medical University of South Carolina
The Medical University of South Carolina opened in Charleston, South Carolina in 1824 as a small private college for the training of physicians. It is one of the oldest continually operating school of medicine in the United States and the oldest in the Deep South...

 to offer an integrated radiology curriculum during their respective MD Programs led by investigators of the Advanced Diagnostic Ultrasound in Microgravity
Advanced Diagnostic Ultrasound in Microgravity
The Advanced Diagnostic Ultrasound in Microgravity Project is a US Government funded study investigating strategies for applying diagnostic telemedicine to space. The Principal Investigator is Scott Dulchavsky, Chairman of Surgery at the Henry Ford Health System...

 study. GE has donated over one million dollars of Logiq E Ultrasound equipment to these two institutions.

Legal issues


On August 4, 2009 the SEC fined General Electric $50 million for breaking accounting rules in two separate cases, misleading investors into believing GE would meet or beat earnings expectations.

GE has faced criminal action regarding its defense related operations. GE was convicted in 1990 of defrauding the US Department of Defense, and again in 1992 on charges of corrupt practices in the sale of jet engines to Israel.

Notable appearances in media


GE was the focus of a 1991 short subject Academy Award-winning documentary, Deadly Deception: General Electric, Nuclear Weapons, and Our Environment, that juxtaposed GE's rosy "We Bring Good Things To Life" commercials with the true stories of workers and neighbors whose lives have been affected by the company's activities involving nuclear weapons.

In the early 1950s Kurt Vonnegut
Kurt Vonnegut
Kurt Vonnegut, Jr. was a 20th century American writer. His works such as Cat's Cradle , Slaughterhouse-Five and Breakfast of Champions blend satire, gallows humor and science fiction. He was known for his humanist beliefs and was honorary president of the American Humanist Association.-Early...

 was a writer for General Electric. A number of his novels and stories (notably Cat's Cradle
Cat's Cradle
Cat's Cradle is the fourth novel by American writer Kurt Vonnegut, first published in 1963. It explores issues of science, technology, and religion, satirizing the arms race and many other targets along the way...

) refer to the fictional city of Ilium
Ilium (Kurt Vonnegut)
Ilium is a fictitious town in eastern New York state, used as a setting for many of Kurt Vonnegut's novels.The name most likely refers to Troy, New York , although Troy is mentioned as a separate city in Player Piano. In all other respects, Ilium very closely resembles Schenectady, New York, with...

, which appears to be loosely based on Schenectady, New York
Schenectady, New York
Schenectady is a city in Schenectady County, New York, United States, of which it is the county seat. As of the 2010 census, the city had a population of 66,135...

. The Ilium Works is the setting for the short story "Deer in the Works
Deer in the Works
Deer in the Works is a short story by Kurt Vonnegut. It first appeared in Esquire in April 1955, and was anthologized in Welcome to the Monkey House....

".

The NBC
NBC
The National Broadcasting Company is an American commercial broadcasting television network and former radio network headquartered in the GE Building in New York City's Rockefeller Center with additional major offices near Los Angeles and in Chicago...

 sitcom 30 Rock
30 Rock
30 Rock is an American television comedy series created by Tina Fey that airs on NBC. The series is loosely based on Fey's experiences as head writer for Saturday Night Live...

is set at the NBC Studios in the GE Building
GE Building
The GE Building is an Art Deco skyscraper that forms the centerpiece of Rockefeller Center in the midtown Manhattan section of New York City. Known as the RCA Building until 1988, it is most famous for housing the headquarters of the television network NBC...

 at 30 Rockefeller Center
Rockefeller Center
Rockefeller Center is a complex of 19 commercial buildings covering between 48th and 51st streets in New York City, United States. Built by the Rockefeller family, it is located in the center of Midtown Manhattan, spanning the area between Fifth Avenue and Sixth Avenue. It was declared a National...

 (hence the title). All characters in the main cast are NBC (and therefore GE) employees, and one character, Jack Donaghy
Jack Donaghy
John Francis "Jack" Donaghy is a fictional character on the NBC sitcom 30 Rock. He is the Vice President of East Coast Television and Microwave Oven Programming for General Electric and later Kabletown....

 (Alec Baldwin
Alec Baldwin
Alexander Rae "Alec" Baldwin III is an American actor who has appeared on film, stage, and television.Baldwin first gained recognition through television for his work in the soap opera Knots Landing in the role of Joshua Rush. He was a cast member for two seasons before his character was killed off...

) is portrayed as having risen through the ranks of GE management to become Vice President of NBC's East Coast operations through the company's microwave oven
Microwave oven
A microwave oven is a kitchen appliance that heats food by dielectric heating, using microwave radiation to heat polarized molecules within the food...

 division.

See also


  • Carousel of Progress
    Carousel of Progress
    The Carousel of Progress is an attraction located at the Magic Kingdom Park at the Walt Disney World Resort, currently operating under the name Walt Disney's Carousel of Progress...

  • College Bowl
    College Bowl
    College Bowl was a format of college-level quizbowl run and operated by College Bowl Company, Incorporated. It had a format similar to the current NAQT format. College Bowl first aired on US radio stations in 1953, and aired on US television from 1959 to 1970...

  • Edison Engineering Development Program
    Edison Engineering Development Program
    The Edison Engineering Development Program is one of General Electric's six corporate entry level programs. Focused on engineering, the program aims to "develop technical problem-solving skills through advanced courses in engineering and technical projects that are aligned with business...

  • GE Building
    GE Building
    The GE Building is an Art Deco skyscraper that forms the centerpiece of Rockefeller Center in the midtown Manhattan section of New York City. Known as the RCA Building until 1988, it is most famous for housing the headquarters of the television network NBC...

  • GE Global Research
    GE Global Research
    GE Global Research is the research and development division of General Electric.GE Global Research's primary facility is located in Niskayuna, New York. The Advanced Manufacturing and Software Technology Center is a satelite facility located in Van Buren, Michigan...

  • Knolls Atomic Power Laboratory
    Knolls Atomic Power Laboratory
    Knolls Atomic Power Laboratory is a research and development facility dedicated to the support of the US Naval Nuclear Propulsion Program. KAPL is a government-owned, contractor operated laboratory run by Bechtel Marine Propulsion Corporation for the United States Department of Energy. KAPL is...

    , Schenectady, NY
  • List of assets owned by General Electric
  • Phoebus cartel
    Phoebus cartel
    The Phoebus cartel was a cartel of, among others, Osram, Philips and General Electric from December 23, 1924 until 1939 that existed to control the manufacture and sale of light bulbs....

  • Top 100 US Federal Contractors
    Top 100 US Federal Contractors
    The Top 100 Contractors Report is a list developed annually by the U.S. General Services Administration as part of its tracking of U.S. federal government procurement....


Further reading

  • Carlson, W. Bernard. Innovation as a Social Process: Elihu Thomson and the Rise of General Electric, 1870–1900 (Cambridge: Cambridge University Press, 1991).
  • Woodbury, David O. Elihu Thomson, Beloved Scientist (Boston: Museum of Science, 1944)
  • Haney, John L. The Elihu Thomson Collection American Philosophical Society Yearbook 1944.
  • Hammond, John W. Men and Volts: The Story of General Electric, published 1941, 436 pages.
  • Mill, John M. Men and Volts at War: The Story of General Electric in World War II, published 1947.

External links




Video clips