Руководство general electric

GE LEADERSHIP

Meet the GE Leadership Team

H. Lawrence Culp, Jr.

Chairman and CEO, GE and CEO, GE Aerospace

---

Appointed September 2018 and June 2022

H. Lawrence (Larry) Culp, Jr., is the Chairman and Chief Executive Officer of GE and Chief Executive Officer of GE Aerospace. Larry is GE’s twelfth CEO and eleventh Chairman.

READ FULL BIO

H. Lawrence Culp, Jr.

Chairman and CEO, GE and CEO, GE Aerospace

Vic Abate

Senior Vice President & Chief Technology Officer, GE Chief Executive Officer, Onshore Wind

---

Appointed September 2015

Responsible for leading the company’s global research, engineering, and product management teams. GE Research is GE’s innovation powerhouse where research meets reality.

READ FULL BIO

Vic Abate

Senior Vice President & Chief Technology Officer, GE Chief Executive Officer, Onshore Wind

Linda Boff

Chief Marketing Officer and Vice President, Learning and Culture and President, GE Foundation

---

Appointed September 2015

Responsible for global marketing, brand, content, digital, and sponsorships, while also managing GE’s learning & leadership.

READ FULL BIO

Linda Boff

Chief Marketing Officer and Vice President, Learning and Culture and President, GE Foundation

David Burns

Chief Information Officer, GE & Chief Information Officer, GE Aerospace

---

Appointed January 2023

David Burns is Chief Information Officer (CIO) of GE and GE Aerospace.

READ FULL BIO

David Burns

Chief Information Officer, GE & Chief Information Officer, GE Aerospace

Patrick Byrne

Senior Vice President, Operational Transformation, GE

---

Appointed June 2020

Pat Byrne is Senior Vice President of Operational Transformation at GE.

READ FULL BIO

Patrick Byrne

Senior Vice President, Operational Transformation, GE

Kevin Cox

Chief Human Resources Officer, GE and Chief Administrative Officer, GE Aerospace

---

Appointed February 2019

Responsible for leading global HR organization, including Talent Management, Leadership Development and Learning, Compensation and Benefits, Employee Relations and Security.

READ FULL BIO

Kevin Cox

Chief Human Resources Officer, GE and Chief Administrative Officer, GE Aerospace

Tara DiJulio

Vice President & Chief Communications Officer, GE Chief Communications Officer, GE Aerospace

---

Appointed March 2022

Tara DiJulio is the Vice President & Chief Communications Officer for GE and Chief Communications Officer for GE Aerospace.

READ FULL BIO

Tara DiJulio

Vice President & Chief Communications Officer, GE Chief Communications Officer, GE Aerospace

Carolina Dybeck Happe

Senior Vice President and Chief Financial Officer, GE

---

Appointed March 2020

Responsible for leading GE’s overall financial activities, global finance organization and the core Digital Technology (DT) function.

READ FULL BIO

Carolina Dybeck Happe

Senior Vice President and Chief Financial Officer, GE

Amy Gowder

President and CEO, Military Systems Operation, GE Aerospace

---

Appointed in May 2022

Amy Gowder leads an operation focused on developing and manufacturing engines and systems for military air combat, trainer, tanker, helicopter, and marine applications.

READ FULL BIO

Amy Gowder

President and CEO, Military Systems Operation, GE Aerospace

Nabil Habayeb

Senior Vice President, GE President & CEO, GE International Markets

---

Appointed June 2020

Responsible for leading GE across international markets outside Europe and North America.

READ FULL BIO

Nabil Habayeb

Senior Vice President, GE President & CEO, GE International Markets

Mike Holston

Senior Vice President, General Counsel & Secretary

---

Appointed April 2018

Leads the company’s global legal, compliance and ethics, corporate secretary and environment health & safety organizations.

READ FULL BIO

Mike Holston

Senior Vice President, General Counsel & Secretary

James Katzman

Senior Vice President, Business Development, GE

---

Appointed October 2021

Jim Katzman is Senior Vice President, Business Development for GE.

READ FULL BIO

James Katzman

Senior Vice President, Business Development, GE

Roger Martella

Chief Sustainability Officer, GE

---

Appointed June 2021

Responsible for leading a comprehensive and cohesive approach to sustainability for GE as it relates to current issues and emerging trends in Environmental, Social and Governance (ESG).

READ FULL BIO

Roger Martella

Chief Sustainability Officer, GE

Tony Mathis

President and Chief Executive Officer, GE Edison Works

---

Appointed in December 2020

Tony Mathis is President and Chief Executive Officer GE Edison Works.

READ FULL BIO

Tony Mathis

President and Chief Executive Officer, GE Edison Works

Chris Pereira

Chief Strategy and Chief Risk Officer, GE

---

Appointed September 2020

Responsible for GE’s enterprise risk management governance and oversight, global securities, finance and corporate legal matters.

READ FULL BIO

Chris Pereira

Chief Strategy and Chief Risk Officer, GE

Riccardo Procacci

President & CEO, Propulsion & Additive Technologies

---

Appointed May 2020

Responsible for enabling global manufacturers to use additive printing technology through strategic direction and operational leadership.

READ FULL BIO

Riccardo Procacci

President & CEO, Propulsion & Additive Technologies

Scott Reese

CEO, GE Digital

---

Appointed February 2022

Scott Reese is the CEO of GE Digital.

READ FULL BIO

Scott Reese

CEO, GE Digital

John S. Slattery

Executive Vice President and Chief Commercial Officer, GE Aerospace

---

Appointed June 2022

John is Executive Vice President and Chief Commercial Officer of GE Aerospace, the world’s leading provider of aircraft jet and turboprop engines and aircraft systems.

READ FULL BIO

John S. Slattery

Executive Vice President and Chief Commercial Officer, GE Aerospace

Russell Stokes

President and Chief Executive Officer, Commercial Engines & Services, GE Aerospace

---

Appointed June 2017

Responsible for being the world’s energy leader, from generation to consumption, and for simplifying, reducing costs and serving customers across the entire energy value chain.

READ FULL BIO

Russell Stokes

President and Chief Executive Officer, Commercial Engines & Services, GE Aerospace

Scott L. Strazik

Chief Executive Officer, GE Vernova –GE’s portfolio of energy businesses

---

Appointed November 2021

Scott is CEO of GE Vernova, GE’s portfolio of energy businesses, which operates across more than 180 countries and includes GE’s Renewable Energy, Power and Digital businesses.

READ FULL BIO

Scott L. Strazik

Chief Executive Officer, GE Vernova –GE’s portfolio of energy businesses

Brandi Thomas

Vice President, Chief Audit Executive, and Chief Diversity Officer, GE

---

Appointed January 2022

Brandi Thomas is Vice President & Chief Audit Executive and Chief Diversity Officer at General Electric.

READ FULL BIO

Brandi Thomas

Vice President, Chief Audit Executive, and Chief Diversity Officer, GE

Jennifer VanBelle

Senior Vice President, GE Capital CEO and Treasurer of GE & GE Capital

---

Appointed March 2019

Responsible for global funding and liquidity, capital structure, cash management, and treasury services globally.

READ FULL BIO

Jennifer VanBelle

Senior Vice President, GE Capital CEO and Treasurer of GE & GE Capital

Steve Winoker

Vice President, Investor Relations , GE

---

Appointed January 2019

Responsible for communicating the vision and value of GE’s transformation with its shareholders and the financial community.

READ FULL BIO

Steve Winoker

Vice President, Investor Relations , GE

General Electric Company

Type	Public
Traded as	NYSE: GE S&P 100 component S&P 500 component
ISIN	US3696043013 (since 2021)
Industry	Conglomerate
Predecessor	Edison General Electric Company Thomson-Houston Electric Company
Founded	April 15, 1892; 131 years ago in Schenectady, New York, US
Founders	Charles A. Coffin Thomas Edison J. P. Morgan
Headquarters	Boston, Massachusetts, U.S.
Area served	Worldwide
Key people	H. Lawrence Culp Jr. (Chairman & CEO)
Products	Aircraft engines Electrical distribution Energy Finance Software Wind turbines
Revenue	US$76.56 billion[1]: 44  (2022)
Operating income	US$1.41 billion[1]: 44  (2022)
Net income	US$292 million[1]: 44  (2022)
Total assets	US$187.8 billion[1]: 45  (2022)
Total equity	US$36.37 billion[1]: 45  (2022)
Number of employees	172,000[1]: 5  (2022)
Subsidiaries	GE Additive GE Aerospace GE Capital GE Digital GE Power GE Renewable Energy GE Research
Website	www.ge.com

General Electric Company (GE) is an American multinational conglomerate founded in 1892 and incorporated in the state of New York and headquartered in Boston. The company has several divisions, including aerospace, power, renewable energy, digital industry, additive manufacturing, and venture capital and finance.^[2][3][4]

In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue.^[5] In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed.^[6][7][8] Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize.^[9]

On November 9, 2021, the company announced it would divide itself into three public companies. On July 18, 2022, GE unveiled the brand names of the companies it will create through its planned separation: GE Aerospace, GE HealthCare and GE Vernova.^[10][11] The new companies will be focused on aerospace, healthcare, and energy (renewable energy, power, and digital). The first spin-off of GE HealthCare was finalized on January 4, 2023, with GE holding 19.9% of shares.^[12] This will be followed by the spin-off of GE’s portfolio of energy businesses which plan to become GE Vernova in 2024.^[13] Following these transactions, GE will be an aviation-focused company; GE Aerospace will be the legal successor of the original GE.^[14][15][16]

History[edit]

Formation[edit]

During 1889, Thomas Edison (1847–1931) had business interests in many electricity-related companies, including Edison Lamp Company, a lamp manufacturer in East Newark, New Jersey; Edison Machine Works, a manufacturer of dynamos and large electric motors in Schenectady, New York; Bergmann & Company, a manufacturer of electric lighting fixtures, sockets, and other electric lighting devices; and Edison Electric Light Company, the patent-holding company and financial arm for Edison’s lighting experiments, backed by J. P. Morgan (1837–1913) and the Vanderbilt family.^[18]

In 1889, Drexel, Morgan & Co., a company founded by J.P. Morgan and Anthony J. Drexel financed Edison’s research and helped merge several of Edison’s separate companies under one corporation forming Edison General Electric Company, which was incorporated in New York on April 24, 1889. The new company acquired Sprague Electric Railway & Motor Company in the same year.^[19][20] The consolidation did not involve all of the companies established by Edison; notably, the Edison Illuminating Company, which would later become Consolidated Edison, was not part of the merger.

In 1880, Gerald Waldo Hart formed the American Electric Company of New Britain, Connecticut, which merged a few years later with Thomson-Houston Electric Company, led by Charles Coffin. In 1887, Hart left to become superintendent of the Edison Electric Company.^[21] General Electric was formed through the 1892 merger of Edison General Electric Company and Thomson-Houston Electric Company with the support of Drexel, Morgan & Co.^[20] The original plants of both companies continue to operate under the GE banner to this day.^[22]

The General Electric business was incorporated in New York, with the Schenectady plant used as headquarters for many years thereafter. Around the same time, General Electric’s Canadian counterpart, Canadian General Electric, was formed.^[23]

In 1893, General Electric bought the business of Rudolf Eickemeyer in Yonkers, New York, along with all of its patents and designs. Eickemeyer’s firm had developed transformers for use in the transmission of electrical power.^[24]

Public company[edit]

In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average,^[25] where it remained a part of the index for 122 years, though not continuously.^[26]

In 1911, General Electric absorbed the National Electric Lamp Association (NELA) into its lighting business. GE established its lighting division headquarters at Nela Park in East Cleveland, Ohio. The lighting division has since remained in the same location.^[27]

RCA and NBC[edit]

Owen D. Young, through GE, founded the Radio Corporation of America (RCA) in 1919, after purchasing the Marconi Wireless Telegraph Company of America. He aimed to expand international radio communications. GE used RCA as its retail arm for radio sales.^[28] In 1926, RCA co-founded the National Broadcasting Company (NBC), which built two radio broadcasting networks. In 1930, General Electric was charged with antitrust violations and was ordered to divest itself of RCA.^[29]

Television[edit]

In 1927, Ernst Alexanderson of GE made the first demonstration of television broadcast reception at his General Electric Realty Plot home at 1132 Adams Road in Schenectady, New York.^[30][31] On January 13, 1928, he made what was said to be the first broadcast to the public in the United States^[30] on GE’s W2XAD: the pictures were picked up on 1.5 square inch (9.7 square centimeter) screens in the homes of four GE executives. The sound was broadcast on GE’s WGY (AM).^{[citation needed]}

Experimental television station W2XAD evolved into the station WRGB which, along with WGY and WGFM (now WRVE), was owned and operated by General Electric until 1983.^[32] In 1965, the company expanded into cable with the launch of a franchise, which was awarded to a non-exclusive franchise in Schenectady through subsidiary General Electric Cablevision Corporation.^[33] On February 15, 1965, General Electric expanded its holdings in order to acquire more television stations to meet the maximum limit of the FCC, and more cable holdings through subsidiaries General Electric Broadcasting Company and General Electric Cablevision Corporation.^[34]

The company also owned television stations such as KOA-TV (now KCNC-TV) in Denver^[35] and WSIX-TV (later WNGE-TV, now WKRN) in Nashville,^[36] but like WRGB, General Electric sold off most of its broadcasting holdings, but held on to the Denver television station^[37] until in 1986, when General Electric bought out RCA and made it into an owned-and-operated station by NBC. It even stayed on until 1995 when it was transferred to a joint venture between CBS and Group W in a swap deal, alongside KUTV in Salt Lake City for longtime CBS O&O in Philadelphia, WCAU-TV.^[38]

Former General Electric-owned stations[edit]

Stations are arranged in alphabetical order by state and city of license.

City of license / Market	Station	Channel TV (RF)	Years owned	Current ownership status
Denver, Colorado	KCNC-TV	4 (35)	1968–1986	CBS owned-and-operated station, owned by CBS News and Stations
Albany, New York	WRGB	6 (35)	1942–1983	CBS affiliate owned by Sinclair Broadcast Group
Nashville, Tennessee	WKRN-TV	2 (27)	1966–1983	ABC affiliate owned by Nexstar Media Group

Radio stations[edit]

City of license / Market	Station	Years owned	Current ownership status
San Francisco	KGO 810	1924–1945	owned by Cumulus Media
KFOG 104.5	1974–1986	KNBR-FM, owned by Cumulus Media
Denver	KOA 850	1924–1953 1968–1983	owned by iHeartMedia
KOAQ 103.5	1968–1983	KRFX, owned by iHeartMedia
Boston	WJIB 96.9	1972–1983	WBQT, owned by Beasley Broadcast Group
Albany — Schenectady — Troy, N.Y.	WGY 810	1922–1983	owned by iHeartMedia
WGFM 99.5	1939–1983	WRVE, owned by iHeartMedia
Nashville	WSIX 980	1966–1983	WYFN, owned by Bible Broadcasting Network
WSIX-FM 97.9	1966–1983	owned by iHeartMedia

Power generation[edit]

Led by Sanford Alexander Moss, GE moved into the new field of aircraft turbo superchargers. This technology also led to the development of industrial gas turbine engines used for power production.^[39] GE introduced the first set of superchargers during World War I, and continued to develop them during the interwar period. Superchargers became indispensable in the years immediately prior to World War II. GE supplied 300,000 turbo superchargers for use in fighter and bomber engines. This work led the U.S. Army Air Corps to select GE to develop the nation’s first jet engine during the war.^[40] This experience, in turn, made GE a natural selection to develop the Whittle W.1 jet engine that was demonstrated in the United States in 1941.^[41] GE was ranked ninth among United States corporations in the value of wartime production contracts.^[42] Although, their early work with Whittle’s designs was later handed to Allison Engine Company. GE Aviation then emerged as one of the world’s largest engine manufacturers, bypassing the British company, Rolls-Royce plc.

Some consumers boycotted GE light bulbs, refrigerators and other products during the 1980s and 1990s. The purpose of the boycott was to protest against GE’s role in nuclear weapons production.^[43]

In 2002, GE acquired the wind power assets of Enron during its bankruptcy proceedings.^[44] Enron Wind 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.^[45] It acquired ScanWind in 2009.^[46][47]

In 2018, GE Power garnered press attention when a model 7HA gas turbine in Texas was shut down for two months due to the break of a turbine blade.^[48] This model uses similar blade technology to GE’s newest and most efficient model, the 9HA. After the break, GE developed new protective coatings and heat treatment methods. Gas turbines represent a significant portion of GE Power’s revenue, and also represent a significant portion of the power generation fleet of several utility companies in the United States. Chubu Electric of Japan and Électricité de France also had units that were impacted. Initially, GE did not realize the turbine blade issue of the 9FB unit would impact the new HA units.^[49]

Computing[edit]

GE was one of the eight major computer companies of the 1960s along with IBM, Burroughs, NCR, Control Data Corporation, Honeywell, RCA, and UNIVAC.^[50] GE had a line of general purpose and special purpose computers, including the GE 200, GE 400, and GE 600 series general purpose computers,^[50] the GE 4010, GE 4020, and GE 4060 real-time process control computers, and 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.^[51]

In 1956 Homer Oldfield had been promoted to General Manager of GE’s Computer Department. He facilitated the invention and construction of the Bank of America ERMA system, the first computerized system designed to read magnetized numbers on checks. But he was fired from GE in 1958 by Ralph J. Cordiner for overstepping his bounds and successfully gaining the ERMA contract. Cordiner was strongly against GE entering the computer business because he did not see the potential in it.

In 1962, GE started developing its GECOS (later renamed GCOS) operating system, originally for batch processing, but later extended to time-sharing and transaction processing. Versions of GCOS are still in use today. From 1964 to 1969, GE and Bell Laboratories (which soon dropped out) joined with MIT to develop the Multics operating system on the GE 645 mainframe computer. The project took longer than expected and was not a major commercial success, but it demonstrated concepts such as single-level storage, dynamic linking, hierarchical file system, and ring-oriented security. Active development of Multics continued until 1985.

GE got into computer manufacturing because in the 1950s they were the largest user of computers outside the United States federal government,^[50] aside from being the first business in the world to own a computer. Its major appliance manufacturing plant «Appliance Park» was the first non-governmental site to host one.^[52] However, in 1970, GE sold its computer division to Honeywell, exiting the computer manufacturing industry,^[50] though it retained its timesharing operations for some years afterwards. GE was a major provider of computer time-sharing services, through General Electric Information Services (GEIS, now GXS), offering online computing services that included GEnie.

In 2000, when United Technologies Corp. planned to buy Honeywell, GE made a counter-offer that was approved by Honeywell.^[53] On July 3, 2001, the European Union issued a statement that «prohibit the proposed acquisition by General Electric Co. of Honeywell Inc.».^[54] The reasons given were it «would create or strengthen dominant positions on several markets and that the remedies proposed by GE were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell».^[54]

On June 27, 2014, GE partnered with collaborative design company Quirky to announce its connected LED bulb called Link. The Link bulb is designed to communicate with smartphones and tablets using a mobile app called Wink.^[55]

Acquisitions and divestments[edit]

In December 1985, GE reacquired the RCA Corporation, primarily to gain ownership of the NBC television network (also parent of Telemundo Communications Group) for $6.28 billion; this merger surpassed the Capital Cities/ABC merger that happened earlier that year as the largest non-oil merger in world business history.^[56] The remainder of RCA was sold to various companies, including Bertelsmann which absorbed RCA Records and Thomson SA, which licensed the manufacture of RCA branded electronics, traced its roots to Thomson-Houston, one of the original components of GE.^{[citation needed]} Also in 1986, Kidder, Peabody & Co., a U.S.-based securities firm, was sold to GE and following heavy losses was sold to PaineWebber in 1994.^[57]

In 2002, Francisco Partners and Norwest Venture Partners acquired a division of GE called GE Information Systems (GEIS). The new company, named GXS, is based in Gaithersburg, Maryland. GXS is a provider of business-to-business e-commerce solutions. GE maintains a minority stake in GXS.^[58] Also in 2002, GE Wind Energy was formed when GE bought the wind turbine manufacturing assets of Enron Wind after the Enron scandals.^[44][45][59]

In 2004, GE bought 80% of Vivendi Universal Entertainment, the parent of Universal Pictures from Vivendi. Vivendi bought 20% of NBC forming the company NBCUniversal. GE then owned 80% of NBCUniversal and Vivendi owned 20%. In 2004, GE completed the spin-off of most of its mortgage and life insurance assets into an independent company, Genworth Financial, based in Richmond, Virginia.^[60]

Genpact formerly known as GE Capital International Services (GECIS) was established by GE in late 1997 as its captive India-based BPO. 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 today, for services in customer service, finance, information technology, and analytics.^[61][62]

In May 2007, GE acquired Smiths Aerospace for $4.8 billion.^[63] Also in 2007, GE Oil & Gas acquired Vetco Gray for $1.9 billion,^[64][65] followed by the acquisition of Hydril Pressure & Control in 2008 for $1.1 billion.^[66][67]

GE Plastics was sold in 2008 to SABIC (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business.^[68][69]

On December 3, 2009, it was announced that NBCUniversal would become a joint venture between GE and cable television operator Comcast. Comcast would hold a controlling interest in the company, while GE would retain a 49% stake and would buy out shares owned by Vivendi.^[70]

Vivendi would sell its 20% stake in NBCUniversal to GE for US$5.8 billion. Vivendi would sell 7.66% of NBCUniversal to GE for US$2 billion if the GE/Comcast deal was 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 was completed or to the public via an IPO if the deal was not completed.^[71][72]

On March 1, 2010, GE announced plans to sell its 20.85% stake in Turkey-based Garanti Bank.^[73] In August 2010, GE Healthcare signed a strategic partnership to bring cardiovascular Computed Tomography (CT) technology from start-up Arineta Ltd. of Israel to the hospital market.^[74] In October 2010, GE acquired gas engines manufacturer Dresser Industries in a $3 billion deal and also bought a $1.6 billion portfolio of retail credit cards from Citigroup Inc.^[75][76] On October 14, 2010, GE announced the acquisition of data migration & SCADA simulation specialists Opal Software.^[77] In December 2010, for the second time that year (after the Dresser acquisition), GE bought the oil sector company Wellstream, an oil pipe maker, for 800 million pounds ($1.3 billion).^[78]

In March 2011, GE announced that it had completed the acquisition of privately held Lineage Power Holdings from The Gores Group.^[79] In April 2011, GE announced it had completed its purchase of John Wood plc’s Well Support Division for $2.8 billion.^[80]

In 2011, GE Capital sold its $2 billion Mexican assets to Santander for $162 million and exited the business in Mexico. Santander additionally assumed the portfolio debts of GE Capital in the country. Following this, GE Capital focused in its core business and shed its non-core assets.^[81]

In June 2012, CEO and President of GE Jeff Immelt said that the company would invest ₹3 billion to accelerate its businesses in Karnataka.^[82] In October 2012, GE acquired $7 billion worth of bank deposits from MetLife Inc.^[83]

On March 19, 2013, Comcast bought GE’s shares in NBCU for $16.7 billion, ending the company’s longtime stake in television and film media.^[84]

In April 2013, GE acquired oilfield pump maker Lufkin Industries for $2.98 billion.^[85]

In April 2014, it was announced that GE was in talks to acquire the global power division of French engineering group Alstom for a figure of around $13 billion.^[86] A rival joint bid was submitted in June 2014 by Siemens and Mitsubishi Heavy Industries (MHI) with Siemens seeking to acquire Alstom’s gas turbine business for €3.9 billion, and MHI proposing a joint venture in steam turbines, plus a €3.1 billion cash investment. In June 2014 a formal offer from GE worth $17 billion was agreed by the Alstom board. Part of the transaction involved the French government taking a 20% stake in Alstom to help secure France’s energy and transport interests and French jobs. A rival offer from Siemens-Mitsubishi Heavy Industries was rejected. The acquisition was expected to be completed in 2015.^[87] In October 2014, GE announced it was considering the sale of its Polish banking business Bank BPH.^[88]

Later in 2014, General Electric announced plans to open its global operations center in Cincinnati, Ohio.^[89] The Global Operations Center opened in October 2016 as home to GE’s multifunctional shared services organization. It supports the company’s finance/accounting, human resources, information technology, supply chain, legal and commercial operations, and is one of GE’s four multifunctional shared services centers worldwide in Pudong, China; Budapest, Hungary; and Monterrey, Mexico.^[90]

In April 2015, GE announced its intention to sell off its property portfolio, worth $26.5 billion, to Wells Fargo and The Blackstone Group.^[91] It was announced in April 2015 that GE would sell most of its finance unit and return around $90 billion to shareholders as the firm looked to trim down on its holdings and rid itself of its image of a «hybrid» company, working in both banking and manufacturing.^[92] In August 2015, GE Capital agreed to sell its Healthcare Financial Services business to Capital One for US$9 billion. The transaction involved US$8.5 billion of loans made to a wide array of sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices.^[93] Also in August 2015, GE Capital agreed to sell GE Capital Bank’s on-line deposit platform to Goldman Sachs. Terms of the transaction were not disclosed, but the sale included US$8 billion of on-line deposits and another US$8 billion of brokered certificates of deposit. The sale was part of GE’s strategic plan to exit the U.S. banking sector and to free itself from tightening banking regulations. GE also aimed to shed its status as a «systematically important financial institution».^[94]

In September 2015, GE Capital agreed to sell its transportation-finance unit to Canada’s Bank of Montreal. The unit sold had US$8.7 billion (CA$11.5 billion) of assets, 600 employees and 15 offices in the U.S. and Canada. Exact terms of the sale were not disclosed, but the final price would be based on the value of the assets at closing, plus a premium according to the parties.^[95] In October 2015, activist investor Nelson Peltz’s fund Trian bought a $2.5 billion stake in the company.^[96]

In January 2016, Haier acquired GE’s appliance division for $5.4 billion.^[97] In October 2016, GE Renewable Energy agreed to pay €1.5 billion to Doughty Hanson & Co for LM Wind Power during 2017.^[98]

At the end of October 2016, it was announced that GE was under negotiations for a deal valued at about $30 billion to combine GE Oil & Gas with Baker Hughes. The transaction would create a publicly traded entity controlled by GE.^[99] It was announced that GE Oil & Gas would sell off its water treatment business, GE Water & Process Technologies, as part of its divestment agreement with Baker Hughes.^[100] The deal was cleared by the EU in May 2017, and by the United States Department of Justice in June 2017.^[101][102] The merger agreement was approved by shareholders at the end of June 2017. On July 3, 2017, the transaction was completed and Baker Hughes became a GE company and was renamed Baker Hughes, a GE Company (BHGE).^[103] In November 2018, GE reduced its stake in Baker Hughes to 50.4%.^[104] On October 18, 2019, GE reduced its stake to 36.8% and the company was renamed back to Baker Hughes.^[105]

In May 2017, GE had signed $15 billion of business deals with Saudi Arabia.^[106] Saudi Arabia is one of GE’s largest customers.^[107] In September 2017, GE announced the sale of its Industrial Solutions Business to ABB. The deal closed on June 30, 2018.^[108][109]

Fraud allegations and notice of possible SEC civil action[edit]

On August 15, 2019, Harry Markopolos, a financial fraud investigator known for his discovery of a Ponzi Scheme run by Bernard Madoff, accused General Electric of being a «bigger fraud than Enron», alleging $38 billion in accounting fraud. GE denied wrongdoing.^[110][111]

On October 6, 2020, General Electric reported it received a Wells notice from the Securities and Exchange Commission stating the SEC may take civil action for possible violations of securities laws.^[112]

Insufficient reserves for long-term care policies[edit]

It is alleged that GE is «hiding» (i.e. under-reserved)^[113] $29 billion in losses related to its long-term care business.^[114]

According to an August 2019 Fitch Ratings report, there are concerns that GE has not set aside enough money to cover its long-term care liabilities.^[115]

In 2018, a lawsuit (the Bezio case) was filed in New York state court on behalf of participants in GE’s 401(k) plan and shareowners alleging violations of Section 11 of the Securities Act of 1933 based on alleged misstatements and omissions related to insurance reserves and performance of GE’s business segments.^[116]

The Kansas Insurance Department (KID) is requiring General Electric to make $14.5 billion of capital contributions for its insurance contracts during the 7-year period ending in 2024.^[117]

GE reported the total liability related to its insurance contracts increased significantly from 2016 to 2019:

December 31, 2016 $26.1 billion

December 31, 2017 $38.6 billion^[118]

December 31, 2018 $35.6 billion^[119]

December 31, 2019 $39.6 billion^[120]

In 2018, GE announced the issuance of the new standard by the Financial Accounting Standards Board (FASB) regarding Financial Services — Insurance (Topic 944) will materially affect its financial statements.^[121][122] Mr. Markopolos estimated there will be a $US 10.5 billion charge when the new accounting standard is adopted in the first quarter of 2021.^[123]

Anticipated $8 billion loss upon disposition of Baker Hughes[edit]

In 2017, GE acquired a 62.5% interest in Baker Hughes (BHGE) when it combined its oil & gas business with Baker Hughes Incorporated.^[124]
In 2018, GE reduced its interest to 50.4%, resulting in the realization of a $2.1 billion loss. GE is planning to divest its remaining interest and has warned that the divestment will result in an additional loss of $8.4 billion (assuming a BHGE share price of $23.57 per share).^[125] In response to the fraud allegations, GE noted the amount of the loss would be $7.4 billion if the divestment occurred on July 26, 2019.^[126] Mr. Markopolos noted that BHGE is an asset available for sale and therefore mark-to-market accounting is required.^[127]

Markopolos noted GE’s current ratio was only 0.67.^[114] He expressed concerns that GE may file for bankruptcy if there is a recession.^[128]

Other[edit]

In 2018, the GE Pension Plan reported losses of US$3.3 billion on plan assets.^[129]

In 2018, General Electric changed the discount rate used to calculate the actuarial liabilities of its pension plans. The rate was increased from 3.64% to 4.34%.^[130] Consequently, the reported liability for the underfunded pension plans decreased by $7 billion year-over-year, from $34.2 billion in 2017 to $27.2 billion in 2018.^[130]

In October 2018, General Electric announced it would «freeze pensions» for about 20,000 salaried U.S. employees. The employees will be moved to a defined-contribution retirement plan in 2021.^[131]

On March 30, 2020, General Electric factory workers protested to convert jet engine factories to make ventilators during the COVID-19 crisis.^[132]

In June 2020, GE made an agreement to sell its Lighting business to Savant Systems, Inc. Financial details of the transaction were not disclosed.^[133]

In November 2020, General Electric warned it would be cutting jobs waiting for a recovery due to the COVID-19 pandemic.^[134]

Financial performance[edit]

Year	Revenue in mil. US$	Net income in mil. US$	Total assets in mil. US$	Price per share in US$	Employees
2005[135]	136,580	16,720	673,321	22.35
2006[135]	151,568	20,742	696,683	22.43
2007[136]	172,488	22,208	795,683	25.44
2008[137]	181,581	17,335	797,769	19.44
2009[138]	154,438	10,725	781,901	9.96
2010[139]	149,567	11,344	747,793	12.68
2011[140]	146,542	13,120	718,189	14.32
2012[141]	146,684	13,641	684,999	16.56
2013[142]	113,245	13,057	656,560	20.32	307,000
2014[143]	117,184	15,233	654,954	22.72	305,000
2015[144]	117,386	−6,145	493,071	24.28	333,000
2016[145]	123,693	8,176	365,183	28.36	295,000
2017[146]	122,092	−6,222	377,945	25.02	313,000
2018[147]	121,615	−22,802	309,129	12.71	283,000

Dividends[edit]

General Electric was a longtime «dividend aristocrat» (a company with a long history of maintaining dividend payments to shareholders). Until 2017, the company had never cut dividends for 119 years before a 50% dividend reduction from 24 cents per share to 12 cents per share.^[148] In 2018, GE further reduced its quarterly dividend from 12 cents to 1 cent per share.^[149]

Stock[edit]

As a publicly traded company on the New York Stock Exchange, GE stock was one of the 30 components of the Dow Jones Industrial Average from 1907 to 2018, the longest continuous presence of any company on the index, and during this time the only company which was part of the original Dow Jones Industrial Index created in 1896.^[150] In August 2000, the company had a market capitalization of $601 billion, and was the most valuable company in the world.^[151] On June 26, 2018, the stock was removed from the index and replaced with Walgreens Boots Alliance.^[152] In the years leading to its removal, GE was the worst performing stock in the Dow, falling more than 55 percent year on year and more than 25 percent year to date.^[153] The company continued to lose value after being removed from the index.^[154]

• 

  Linear GE stock price graph 1962–2013

• 

  GE trading volume graph

General Electric Co. announced on July 30, 2021 (the completion of) a reverse stock split of GE common stock at a ratio of 1-for-8 and trading on a split-adjusted basis with a new ISIN number (US3696043013) starting on August 2, 2021.^[155]

Bribery[edit]

In July 2010, General Electric was willing to pay $23.4 million to settle an SEC complaint, as GE bribed Iraqi government officials to win contracts under the U.N. oil-for-food program.^[156]

Corporate affairs[edit]

In 1959, General Electric was accused of promoting the largest illegal cartel in the United States since the adoption of the Sherman Antitrust Act of 1890 in order to maintain artificially high prices. In total, 29 companies and 45 executives would be convicted. Subsequent parliamentary inquiries revealed that «white-collar crime» was by far the most costly form of crime for the United States’ finances.^[157]

GE is a multinational conglomerate headquartered in Boston, Massachusetts.^[158] However its main offices are located at 30 Rockefeller Plaza at Rockefeller Center in New York City, known now as the Comcast Building.^{[needs update][159]} It was formerly known as the GE Building 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. GE moved its corporate headquarters from the GE Building on Lexington Avenue to Fairfield, Connecticut in 1974.^[160] In 2016, GE announced a move to the South Boston Waterfront neighborhood of Boston, Massachusetts, partly as a result of an incentive package provide by state and city governments. The first group of workers arrived in the summer of 2016, and the full move will be completed by 2018.^{[161][162][163][needs update]} Due to poor financial performance and corporate downsizing, GE sold the land it planned to build its new headquarters building on, instead choosing to occupy neighboring leased buildings.^[164]

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.^[165] As of 2011, the company spent more on U.S. lobbying than any other company.^[166]

In 2005, GE launched its «Ecomagination» initiative in an attempt to position itself as a «green» company.
GE is one of the biggest players in the wind power industry and is developing 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.»,^[166] and has set goals for its subsidiaries to lower their greenhouse gas emissions.^[167]

On May 21, 2007, GE announced it would sell its GE Plastics division to petrochemicals manufacturer SABIC 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.^[168]

In February 2017, GE announced that the company intends to close the gender gap by promising to hire and place 20,000 women in technical roles by 2020. The company is also seeking to have a 50:50 male to female gender representation in all entry-level technical programs.^[169]

In October 2017, GE announced they would be closing research and development centers in Shanghai, Munich and Rio de Janeiro. The company spent $5 billion on R&D in the last year.^[170]

On February 25, 2019, GE sold its diesel locomotive business to Wabtec.^[171]

CEO[edit]

As of October 2018, John L. Flannery was replaced by H. Lawrence Culp Jr. as chairman and CEO in a unanimous vote of the GE Board of Directors.^[172]

• Charles A. Coffin (1913–1922)
• Owen D. Young (1922–1939, 1942–1945)
• Philip D. Reed (1940–1942, 1945–1958)
• Ralph J. Cordiner (1958–1963)
• Gerald L. Phillippe (1963–1972)
• Fred J. Borch (1967–1972)
• Reginald H. Jones (1972–1981)
• Jack Welch (1981–2001)
• Jeff Immelt (2001–2017)
• John L. Flannery (2017–2018)^[173]
• H. Lawrence Culp Jr. (2018–present)

Corporate recognition and rankings[edit]

In 2011, Fortune ranked GE the sixth-largest firm in the U.S.,^[174] and the 14th-most profitable.^[8] Other rankings for 2011–2012 include the following:^[175]

• #18 company for leaders (Fortune)
• #82 green company (Newsweek)
• #91 most admired company (Fortune)
• #19 most innovative company (Fast Company).

In 2012, GE’s brand was valued at $28.8 billion.^[176] CEO Jeff 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.^{[citation needed]}

Tom Geismar later stated that looking back at the logos of the 1910s, 1920s, and 1930s, one can clearly judge that they are old-fashioned. Chermayeff & Geismar, along with colleagues Bill Brown and Ivan Chermaev, created the modern 1980 logo.^[177] They, in turn, argued that even now the old logos look out of date, earlier they were good.^[178] The changes included a new corporate color palette, small modifications to the GE logo, a new customized font (GE Inspira) and a new slogan, «Imagination at work», composed by David Lucas, to replace the slogan «We Bring Good Things to Life» used since 1979.^[179] The standard requires many headlines to be lowercased and adds visual «white space» to documents and advertising. The changes were designed by Wolff Olins and are used on GE’s marketing, literature, and website. In 2014, a second typeface family was introduced: GE Sans and Serif by Bold Monday created under art direction by Wolff Olins.^[180]

As of 2016, GE had appeared on the Fortune 500 list for 22 years and held the 11th rank.^[181] GE was removed from the Dow Jones Industrial Average on June 28, 2018, after the value had dropped below 1% of the index’s weight.^[182]

Businesses[edit]

Ranking in Fortune 500

Year	Rank
1996	7
1997	5
1998	5
1999	5
2000	6
2001	5
2002	6
2003	5
2004	5
2005	5
2006	7
2007	6
2008	6
2009	5
2010	4
2011	6
2012	6
2013	8
2014	9
2015	8
2016	11
2017	13
2018	18
2019	21
2020	33
2021	38

GE’s primary business divisions are:

• GE Additive
• GE Aerospace
• GE Capital
• GE Digital
• GE Healthcare
• GE Power
• GE Renewable Energy
• GE Research

Through these businesses, GE participates in markets that include the generation, transmission and distribution of electricity (e.g. nuclear, gas and solar), industrial automation, medical imaging equipment, motors, aircraft jet engines, and aviation services. Through GE Commercial Finance, GE Consumer Finance, GE Equipment Services, and GE Insurance it offers a range of financial services. It has a presence in over 100 countries.^[183]

General Imaging manufacturers GE digital cameras.^[185]

Even though the first wave of conglomerates (such as ITT Corporation, Ling-Temco-Vought, Tenneco, etc.) fell by the wayside by the mid-1980s, in the late 1990s, another wave (consisting of Westinghouse, Tyco, and others) tried and failed to emulate GE’s success.^[186]

As of August 2015 GE is planning to set up a silicon carbide chip packaging R&D center in coalition with SUNY Polytechnic Institute in Utica, New York. The project will create 470 jobs with the potential to grow to 820 jobs within 10 years.^[187]

On September 14, 2015, GE announced the creation of a new unit: GE Digital, which will bring together its software and IT capabilities. The new business unit will be headed by Bill Ruh, who joined GE in 2011 from Cisco Systems and has since worked on GE’s software efforts.^[188]

Former divisions[edit]

GE Industrial was a division providing appliances, lighting and industrial products; factory automation systems; plastics, silicones and quartz products; security and sensors technology, and equipment financing, management and operating services. As of 2007 it had 70,000 employees generating $17.7 billion in revenue.^[189] After some major realignments in late 2007, GE Industrial was organized in two main sub businesses:

• GE Consumer & Industrial
  • Appliances
  • Electrical Distribution
  • Lighting
• GE Enterprise Solutions
  • Digital Energy
  • GE Fanuc Intelligent Platforms
  • Security
  • Sensing & Inspection Technologies

The former GE Plastics division was sold in August 2007 and is now SABIC Innovative Plastics.

On May 4, 2008, it was announced that GE would auction off its appliances business for an expected sale of $5–8 billion.^[190] However, this plan fell through as a result of the recession.^[191]

The former GE Appliances and Lighting segment was dissolved in 2014 when GE’s appliance division was attempted to be sold to Electrolux for $5.4 billion, but eventually sold it to Haier in June 2016 due to antitrust filing against Electrolux. GE Lighting (consumer lighting) and the newly created Current, powered by GE, which deals in commercial LED, solar, EV, and energy storage, became stand-alone businesses within the company,^[192] until the sale of the latter to American Industrial Partners in April 2019.^[193]

The former GE Transportation division merged with Wabtec on February 25, 2019, leaving GE with a 24.9% holding in Wabtec.^[194]

On July 1, 2020, GE Lighting was acquired by Savant Systems and remains headquartered at Nela Park in East Cleveland, Ohio.^[195]

Environmental record[edit]

Carbon footprint[edit]

General Electric Company reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 2,080 Kt (-310 /-13% y-o-y).^[196] There has been a consistent declining trend in reported emissions since 2016.

General Electric Company’s annual Total CO2e emissions (Direct + Indirect) (in kilotonnes)

Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
3,830[197]	3,780[198]	2,800[199]	2,390[200]	2,080[196]

Pollution[edit]

Some of GE’s activities have given rise to large-scale air and water pollution. Based on data from 2000,^[201] researchers at the Political Economy Research Institute listed the corporation as the fourth-largest corporate producer of air pollution in the United States (behind only E. I. Du Pont de Nemours & Co., United States Steel Corp., and ConocoPhillips), with more than 4.4 million pounds per year (2,000 tons) of toxic chemicals released into the air.^[202] GE has also been implicated in the creation of toxic waste. According to United States Environmental Protection Agency (EPA) documents, only the United States Government, Honeywell, and Chevron Corporation are responsible for producing more Superfund toxic waste sites.^[203]

In 1983, New York State Attorney General Robert Abrams filed suit in the United States District Court for the Northern District of New York to compel GE to pay for the clean-up of what was claimed to be more than 100,000 tons of chemicals dumped from their plant in Waterford, New York, which polluted nearby groundwater and the Hudson River.^[204] In 1999, the company agreed to pay a $250 million settlement in connection with claims it polluted the Housatonic River (at Pittsfield, Massachusetts) and other sites with polychlorinated biphenyls (PCBs) and other hazardous substances.^[205]

In 2003, acting on concerns that the plan proposed by GE did not «provide for adequate protection of public health and the environment», EPA issued an administrative order for the company to «address cleanup at the GE site» in Rome, Georgia, also contaminated with PCBs.^[206]

The nuclear reactors involved in the 2011 crisis at Fukushima I in Japan were GE designs,^[207] and the architectural designs were done by Ebasco,^{[208][better source needed]} formerly owned by GE. Concerns over the design and safety of these reactors were raised as early as 1972, but tsunami danger was not discussed at that time.^[209] As of 2014, the same model nuclear reactors designed by GE are operating in the US;^[210] however, as of May 31, 2019, the controversial Pilgrim Nuclear Generating Station, in Plymouth, Massachusetts, has been shut down and is in the process of decommission.

Pollution of the Hudson River[edit]

GE heavily contaminated the Hudson River with PCBs between 1947 and 1977.^[211] This pollution caused a range of harmful effects to wildlife and people who eat fish from the river.^[212] In 1983 EPA declared a 200-mile (320 km) stretch of the river, from Hudson Falls to New York City, to be a Superfund site requiring cleanup. This Superfund site is considered to be one of the largest in the nation.^[213] In addition to receiving extensive fines, GE is continuing its sediment removal operations, pursuant to the Superfund orders, in the 21st century.^[214]

Pollution of the Housatonic River[edit]

From c. 1932 until 1977, GE polluted the Housatonic River with PCB discharges from its plant at Pittsfield, Massachusetts. EPA designated the Pittsfield plant and several miles of the Housatonic to be a Superfund site in 1997, and ordered GE to remediate the site.^[215] Aroclor 1254 and Aroclor 1260, products manufactured by Monsanto, were the principal contaminants that were discharged to the river.^[216][217] The highest concentrations of PCBs in the Housatonic River are found in Woods Pond in Lenox, Massachusetts, just south of Pittsfield, where they have been measured up to 110 mg/kg in the sediment.^[217] About 50% of all the PCBs currently in the river are estimated to be retained in the sediment behind Woods Pond dam. This is estimated to be about 11,000 pounds (5,000 kg) of PCBs.^[217] Former filled oxbows are also polluted.^[218] Waterfowl and fish who live in and around the river contain significant levels of PCBs and can present health risks if consumed.^{[219][220][221]} In 2020 GE completed remediation and restoration of its 10 manufacturing plant areas within the city of Pittsfield.^[222] As of 2023 plans for cleanup of the river south of the city are not finalized.^[223]

[edit]

Environmental initiatives[edit]

The environmental work and research of GE can be seen as early as 1968 with the experimental Delta electric car built by the GE Research and Development Center led by Bruce Laumeister.^[224] The electric car led to the production shortly after of the cutting-edge technology of the first commercially produced all-electric Elec-Trak garden tractor, which was manufactured from around 1969 until 1975.^[225]

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.^[226]

On May 26, 2011, GE unveiled its EV Solar Carport, a carport that incorporates solar panels on its roof, with electric vehicle charging stations under its cover.^[227]

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».^[228] The announcement prompted an op-ed piece in The New York Times to observe that, «while General Electric’s increased emphasis on clean technology 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.»^[229]

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.^[230] In 2010, GE continued to raise its investment by adding $10 billion into Ecomagination over the next five years.^[231]

GE Energy’s renewable energy 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 commercialization. In August 2008, it acquired Kelman Ltd,^[232] a Northern Ireland-based 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.^[233] In 2009, GE’s renewable energy initiatives, which include solar power, wind power and GE Jenbacher gas engines using renewable and non-renewable methane-based gases,^[234] employ more than 4,900 people globally and have created more than 10,000 supporting jobs.^[235]

GE Energy and Orion New Zealand (Orion) have announced the 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.

In June 2018, GE Volunteers, an internal group of GE employees, along with Malaysian Nature Society, transplanted more than 270 plants from the Taman Tugu forest reserve so that they may be replanted in a forest trail which is under construction.

Educational initiatives[edit]

GE Healthcare is collaborating with the Wayne State University School of Medicine and the Medical University of South Carolina to offer an integrated radiology curriculum during their respective MD Programs led by investigators of the Advanced Diagnostic Ultrasound in Microgravity study.^[236] GE has donated over one million dollars of Logiq E Ultrasound equipment to these two institutions.^[237]

Marketing initiatives[edit]

Between September 2011 and April 2013, GE ran a content marketing campaign dedicated to telling the stories of «innovators—people who are reshaping the world through act or invention». The initiative included 30 3-minute films from leading documentary film directors (Albert Maysles, Jessica Yu, Leslie Iwerks, Steve James, Alex Gibney, Lixin Fan, Gary Hustwit and others), and a user-generated competition that received over 600 submissions, out of which 20 finalists were chosen.^[238]

Short Films, Big Ideas was launched at the 2011 Toronto International Film Festival in partnership with cinelan. Stories included breakthroughs in Slingshot (water vapor distillation system), cancer research, energy production, pain management and food access. Each of the 30 films received world premiere screenings at a major international film festival, including the Sundance Film Festival and the Tribeca Film Festival. The winning amateur director film, The Cyborg Foundation, was awarded a US$100,000 prize at the 2013 Sundance Film Festival.^[239] According to GE, the campaign garnered more than 1.5 billion total media impressions, 14 million online views, and was seen in 156 countries.^[240]

In January 2017, GE signed an estimated $7 million deal with the Boston Celtics to have its corporate logo put on the NBA team’s jersey.^[241]

Charity[edit]

On March 3, 2022, GE published an international memo pledging to donate $4.5 million to Ukraine amid Russian invasion. According to the memo, $4 million will be used for medical equipment, $400,000 for emergency cash for refugees and $100,000 will go to Airlink, a NGO that helps communities in crisis.^[242]

Political affiliation[edit]

In the 1950s, GE sponsored Ronald Reagan’s TV career and launched him on the lecture circuit. GE has also designed social programs, supported civil rights organizations, and funded minority education programs.^[243]

Notable appearances in media[edit]

In the early 1950s, Kurt Vonnegut was a writer for GE. A number of his novels and stories (notably Cat’s Cradle and Player Piano) refer to the fictional city of Ilium, which appears to be loosely based on Schenectady, New York.^[244] The Ilium Works is the setting for the short story «Deer in the Works».

In 1981, GE won a Clio award for its :30 Soft White Light Bulbs commercial, We Bring Good Things to Life.^[245] The slogan «We Bring Good Things to Life» was created by Phil Dusenberry at the ad agency BBDO.^[246]

GE was the primary focus of a 1991 short subject Academy Award-winning documentary, Deadly Deception: General Electric, Nuclear Weapons, and Our Environment,^[247] that juxtaposed GE’s «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.^[248]

GE was frequently mentioned and parodied in the NBC comedy sitcom 30 Rock from 2006 to 2013. Former General Electric CEO Jack Welch even cameoed as himself appearing in the season four episode «Future Husband». The episode is a satirical reference to the real-world acquisition of NBC Universal from General Electric by Comcast in November 2009.^[249]

In 2013, GE received a National Jefferson Award for Outstanding Service by a Major Corporation.^[250]

See also[edit]

• GE Technology Infrastructure
• Knolls Atomic Power Laboratory
• List of assets owned by General Electric
• Phoebus cartel
• Top 100 US Federal Contractors

References[edit]

Further reading[edit]

• 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.
• Irmer, Thomas. Gerard Swope. In Immigrant Entrepreneurship: German-American Business Biographies, 1720 to the Present, vol. 4, edited by Jeffrey Fear. German Historical Institute.

External links[edit]

• Official website
• Business data for General Electric:
  • Bloomberg
  • Google
  • Reuters
  • SEC filings
  • Yahoo!

Американская промышленная компания

General Electric Company

Тип	Public
Торгуется как	NYSE : GE SP 100 компонент SP 500 компонент
ISIN	US3696041033
Промышленность	Конгломерат
Предшественник	Edison General Electric. Thomson-Houston Electric
Основан	15 апреля 1892 г.; 128 лет назад (1892-04-15), в Скенектади, Нью-Йорк
Основатели	Чарльз А. Коффин Элиу Томсон Эдвин Дж. Хьюстон Дж. П. Морган Томас Эдисон
Штаб-квартира	Бостон, Массачусетс, США
Обслуживаемая территория	По всему миру
Ключевые люди	Х. Лоуренс Калп младший. (председатель и генеральный директор)
Продукция	Авиационные двигатели Распределение электроэнергии Электродвигатели Энергетика Финансы Здравоохранение Освещение Программное обеспечение Ветровые турбины
Выручка	95,214 млрд долларов США (2019 г.)
Операционная прибыль	1,271 млрд долларов США (2019 г.)
Чистая прибыль	-5,439 млрд долларов США (2019)
Общие активы	266,048 млрд долларов США (2019)
Общий капитал	29,861 млрд долларов США (2019)
Количество сотрудников	205000 (2020)
Дочерние компании	GE Additive GE Aviation GE Capital GE Digital GE Global Research GE Hitachi Nuclear Energy GE Healthcare GE Power GE Renewable Energy GE Ventures
Веб-сайт	www.ge.com
Сноски / ссылки .

General Electric Company (GE) является американской международная компания конгломерат, зарегистрированный в Нью-Йорке со штаб-квартирой в Бостоне. По состоянию на 2018 год компания работает в следующих сегментах: авиация, здравоохранение, энергетика, возобновляемые источники энергии, цифровая промышленность., аддитивное производство и венчурный капитал и финансы.

В 2019 году GE вошла в Fortune 500, став 21-й по величине фирмой в United Состояния на валовой доход. В 2011 году GE заняла 14-е место в рейтинге Fortune 20 как 14-я самая прибыльная компания, но с тех пор ее результаты сильно отстали от рынка (примерно на 75%), поскольку ее прибыльность резко упала. Два сотрудника GE — Ирвинг Ленгмюр (1932) и Ивар Гиавер (1973) — были удостоены Нобелевской премии.

Содержание

• 1 История
  • 1.1 Создание
  • 1.2 Открытая компания
  • 1.3 RCA и NBC
  • 1.4 Телевидение
  • 1.5 Энергетика
  • 1.6 Вычислительная техника
  • 1.7 Приобретения и продажи
  • 1.8 Обвинения в мошенничестве и сообщении о применении гражданских Действие
    • 1.8.1 Недостаточные резервы для долгосрочного ухода
    • 1.8.2 Ожидаемые убытки в размере 8 миллиардов при продаже Baker Hughes
    • 1.8.3 Прочие
• 2 Финансовые показатели
  • 2.1 Дивиденды
• 3 Акции
• 4 Взяточничество
• 5 Корпоративные отношения
  • 5.1 Генеральный директор
  • 5.2 Корпоративное признание и рейтинг
• 6 Бизнесы
  • 6.1 Бывшие подразделения
• 7 Экологические данные
  • 7.1 Загрязнение
    • 7.1.1 Загрязнение реки Гудзон
    • 7.1.2 Загрязнение реки Хаусатоник
  • 7.2 Экологические инициативы
• 8 Образовательные инициативы
• 9 Маркетинговые инициативы
• 10 Политическая принадлежность
• 11 Известная выступления в СМИ a
• 12 См. также
• 13 Ссылки
• 14 Дополнительная литература
• 15 Внешние ссылки

История

Образование

General Electric в Скенектади, Нью-Йорк, вид сверху, 1896 г. План завода Скенектади, 1896 год General Electric Building на 570 Lexington Avenue, Нью-Йорк

В 1889 году Томас Эдисон имел деловые интересы во многих компаниях, связанных с электричеством, в том числе Edison Lamp Company, производитель ламп в Ист-Ньюарк, Нью-Джерси ; Edison Machine Works, производитель динамо и больших электродвигателей в Скенектади, Нью-Йорк ; Bergmann Company, производитель электрических осветительных приборов, розеток и других электрических осветительных приборов; и Edison Electric Light Company, компания, владеющая патентами и финансовое подразделение, поддерживаемое Дж. П. Морган и семья Вандербильтов для экспериментов Эдисона по освещению.

В 1889 году Drexel, Morgan Co., компания, основанная JP Morgan и Энтони Дж. Дрексел финансировал исследования Эдисона и помог объединить эти компании в одну корпорацию, чтобы сформировать Edison General Electric Company, которая была создана в Нью-Йорке 24 апреля 1889 года. Новая компания также приобрела Sprague Electric Railway Motor Company в том же году.

В 1880 году Джеральд Уолдо Харт основал American Electric Company в Новой Британии, Коннектикут, которая несколько лет спустя слилась с Thomson-Houston Electric Company, управляемая Чарльзом Коффином. В 1887 году Харт уехал, чтобы стать суперинтендантом компании Edison Electric в Канзас-Сити, штат Миссури. General Electric была образована в результате слияния в 1892 году Edison General Electric Company из Скенектади, штат Нью-Йорк, и Thomson-Houston Electric Company из Линн, Массачусетс при поддержке Drexel, Morgan Co. Оба завода продолжают работать. работают под флагом GE по сей день. Компания была введена в Нью-Йорке, а завод в Скенектади в течение многих лет после этого использовался в качестве штаб-квартиры. Примерно в то же время была создана канадская компания General Electric, Canadian General Electric.

В 1893 году General Electric купила бизнес Рудольфа Эйкемейера в Йонкерсе, Нью-Йорк, а также все его патенты и разработки. Одним из сотрудников был Чарльз Протеус Штайнмец. Только недавно приехав в США, Стейнмец уже публиковал статьи в магнитном гистерезиса и заслужил международное профессиональное признание. Под руководством Штейнмеца фирма Эйкмейера разработала трансформаторы для использования передачи электроэнергии среди многих других механических и электрических устройств. Штайнмец быстро стал известен в инженерном сообществе GE как инженер-волшебник.

Открытая компания

В 1896 году General Electric была одной из первоначальных 12 компаний, зарегистрированных в недавно созданной Промышленный индекс Доу-Джонса, где он оставался частным индексом в течение 122 лет, хотя и не постоянно.

Кармен Миранда в рекламе FM-радио General Electric в 1945 году в Saturday Evening Post

В 1911 году компания General Electric Национальная ассоциация электрических ламп (NELA) в свой бизнес по освещению. GE открыла штаб-квартиру своего подразделения освещения в Нела-Парк в Восточном Кливленде, Огайо. Подразделение освещения с тех пор осталось в том же месте.

RCA и NBC

Оуэн Д. Янг через GE основал Radio Corporation of America (RCA) в 1919 г., после покупки компании Marconi Wireless Telegraph of America. Он стремился расширить международную радиосвязь. GE использовала RCA в качестве своего розничного подразделения для продажи радио. В 1926 году RCA стала соучредителем Национальной радиовещательной компании (NBC), которая построила две сети радиовещания. В 1930 году General Electric было предъявлено обвинение в нарушении антимонопольного законодательства, и она решила отказаться от RCA.

Телевидение

В 1927 году Эрнст Александерсон из GE провел первую демонстрацию своего телетрансляции в его доме General Electric Realty Plot по адресу 1132 Adams Rd, Скенектади, Нью-Йорк. 13 января 1928 года он сделал то, что, как говорили, стало первой трансляцией для публики в приложениях на GE W2XAD : изображения были сняты на экране размером 1,5 квадратных дюйма (9,7 квадратных сантиметра) в дома четырех руководителей GE. Звук транслировался по WGY (AM).

компании GE. Экспериментальная телевизионная станция W2XAD превратилась в станцию ​​WRGB, которая вместе с WGY и WGFM (теперь WRVE ) была до 1983 года принадлежала и эксплуатировалась General Electric.

Энергетика

Под руководством Сэнфорда Александра Мосса GE перешла в новую отрасль производства самолетов турбонагнетателей. Эта технология также привела к разработке промышленных газотурбинных двигателей, используемых для производства электроэнергии. GE представила первый комплект нагнетателей во время Первой мировой войны и продолжала их использовать в межвоенный период. Нагнетатели стали незаменимыми в годы, непосредственно предшествующие Второй мировой войне. GE поставила 300 000 турбонагнетателей для двигателей истребителей и бомбардировщиков. Эта работа побудила ВВС США выбрать GE для разработки первого в стране реактивного двигателя во время войны. Этот опыт, в свою очередь, сделал GE естественным отбором для разработки Whittle W.1 реактивного двигателя, который был использован в Штатах в 1941 году. GE заняла девятое место среди корпораций США. в стоимости контрактов на производство военного времени. Хотя их ранняя работа с проектами Уиттла позже была передана Allison Engine Company. GE авиация превратилась в одного из мировых производителей двигателей, обойдя британскую компанию Rolls-Royce plc.

Некоторые пользователи бойкотировали лампочки, холодильники и т. Д. GE. в 1980-х и 1990-х продукты годах. Целью бойкота был протест против роли GE в ядерном оружии.

В 2002 году GE приобрела ветроэнергетические активы Enron во время процедуры банкротства. Enron Wind был единственным сохранившимся большим ветряным турбином в США в то время, и GE увеличила объем инжиниринга и поставки для подразделения Wind и удвоила годовой объем продаж до 1,2 миллиарда долларов в 2003 году. В 2009 году она приобрела ScanWind. 53>

В 2018 году GE Power привлекла внимание прессы, когда газовая турбина модели 7HA в Техасе была остановлена ​​на два месяца из-за поломки лопатки турбины. В этой модели используется технология, аналогичная новейшей и наиболее эффективная модели GE, 9HA. После перерыва GE разработала новые защитные покрытия и методы термообработки. Газовые турбины составляют значительную часть доходов GE Power, а также значительную часть электроэнергетики нескольких коммунальных компаний в США. Chubu Electric из Японии и Électricité de France также имели подразделения, которые пострадали. Первоначально GE не понимает, что проблема турбинных лопаток блока 9FB повлияет на новые блоки HA.

Computing

GE была одной из лучших компьютерных компаний 1960-х годов наряду с IBM, Берроуз, NCR, Control Data Corporation, Honeywell, RCA и УНИВАК. У GE была линейка компьютеров общего и специального назначения, компьютеры общего назначения серии GE 200, GE 400 и GE 600, GE 4010, Компьютеры GE 4020 и GE 4060 реального времени управления процессами, а также компьютеры коммутации сообщений DATANET-30 и Datanet 355 (DATANET-30 и 355 также используется в качестве интерфейсных процессоров для мэйнфреймов GE). Компьютер Datanet 500 был разработан, но так и не продан.

В 1962 году GE начала использования своей GECOS (позже переименованной в GCOS) операционной системы, использование для пакетная обработка, но позже была расширена до разделения времени и обработки транзакций. Версии ГСНК используются и сегодня. С 1964 по 1969 год GE и Bell Laboratories (которая вскоре прекратила свою деятельность) объединились с MIT для разработки операционной системы Multics на GE 645 универсальный компьютер. Он использует такие концепции, как одноуровневое хранилище , динамическое связывание, иерархическая файловая система кольцевая защита. Активное развитие Multics продолжалось до 1985 года.

GE занялась производством компьютеров, потому что в 1950-х годах она занята этим компьютером за пределами федерального правительства США, помимо, что была первой компанией в сфере. мир владеть компьютером. Его крупный завод по производству бытовой техники «Парк техники » стал первым негосударственным сайтом, на котором разместился такой завод. Однако в 1970 году GE продала свое компьютерное подразделение Honeywell, уйдя из отрасли производства компьютеров, хотя и сохранила свои операции с разделением времени в течение нескольких лет после этого. GE была основным поставщиком компьютерных услуг разделение времени через General Electric Information Services (GEIS, теперь GXS), предлагая вычислительные услуги в режиме онлайн, включая GEnie.

в 2000 году, когда United Technologies Corp… Сделала планировал купить Honeywell, GE сделала встречное предложение, которое было одобрено Honeywell. 3 июля 2001 г. Европейский Союз выступил с заявлением, в котором «запрещается предполагаемое приобретение компанией General Electric Co. of Honeywell Inc.». Приводились причины, по которым «создаст или укрепит доминирующие позиции на нескольких рынках, предложенные GE, были недостаточными для решения проблем конкуренции, возникших в результате предлагаемого приобретения Honeywell».

27 июня 2014 г. Компания GE объявила о выпуске светодиодной лампы Ссылка под названием Link в партнерстве с совместной дизайнерской компанией Quirky. Лампа Link предназначена для связи со смартфонами и планшетами с помощью мобильного приложения под названием Wink.

Глобальный операционный центр GE в центре Цинциннати, Огайо

Приобретения и продажи

В декабре 1985 г. GE выкупила RCA, главным образом, для телесети NBC (также материнской компании Telemundo Communications Group ) за 6,28 миллиарда долларов; это слияние превзошло слияние Capital Cities / ABC, которое произошло в начале этого года и стало крупнейшим слиянием, не стало с нефтью, в истории мирового бизнеса. Остальная часть была продана различным компаниям, включая Bertelsmann (Bertelsmann приобрела RCA Records ) и Thomson SA, которая ведет свою историю от Thomson-Houston, одни из оригинальных комплектующих GE. Также в 1986 году Kidder, Peabody Co., американская компания по ценным бумагам, была продана GE, а после больших убытков была продана PaineWebber в 1994 году.

В 2002 году Francisco Partners и Norwest Venture Partners приобрели подразделение GE под названием GE Information Systems (GEIS). Новая компания, получившая название GXS, базируется в Гейтерсбурге, Мэриленд. GXS — поставщик решений для электронной коммерции B2B. GE сохраняет миноритарный пакет акций GXS. Также в 2002 году была образована GE Wind Energy, когда GE купила ветряные турбины производственные активы Enron Wind после скандалов с Enron.

В 2004 году GE купила 80% Vivendi Universal Развлечения, родитель Universal Pictures от Vivendi. Vivendi купила 20% акций NBC, образовав компанию NBCUniversal. GE тогда принадлежало 80% NBCUniversal, а Vivendi принадлежало 20%. В 2004 году GE завершила выделение большей части своих ипотечных и активов по страхованию жизни в независимую компанию Genworth Financial, базирующаяся в Ричмонде, Вирджиния.

Genpact, ранее известная как GE Capital International Services (GECIS), основанная GE в конце 1997 года как дочерняя компания BPO в Индии. В 2005 году GE продала 60% акций Genpact компаниям General Atlantic и Oak Hill Capital Partners и выделила Genpact в самостоятельный бизнес. GE по-прежнему остается клиентом Genpact в области обслуживания клиентов, финансовых, информационных технологий и аналитики.

В мае 2007 года GE приобрела Smiths Aerospace за 4,8 миллиарда долларов. Также в 2007 году GE Oil Gas приобрела Vetco Gray за 1,9 миллиарда долларов, после чего в 2008 году за 1,1 миллиарда долларов была приобретена компания Hydril Pressure Control.

GE Plastics была продана в 2008 году SABIC (Саудовская Аравия Basic Industries Corporation). В мае 2008 года GE объявила, что изучает варианты продажи большей части своего потребительского и промышленного бизнеса.

3 декабря 2009 года было объявлено, что NBCUniversal станет совместным предприятием GE и оператора кабельного телевидения Comcast. Comcast будет владеть контрольным пакетом акций компании, а GE сохранит за собой 49% акций и выкупит акции, принадлежащие Vivendi.

Vivendi продает свою 20% долю в NBCUniversal компании GE за 5,8 млрд долларов США. Vivendi продаст 7,66% NBCUniversal компании GE за 2 миллиарда долларов США, если сделка GE / Comcast не будет завершена к сентябрю 2010 года, и продаст оставшиеся 12,34% доли компании NBCUniversal GE за 3,8 миллиарда долларов США, когда сделка будет завершена, или общественности. посредством IPO, если сделка не была завершена.

1 марта 2010 г. GE объявила о планах продажи своей 20,85% -ной доли в турецком Garanti Bank. В августе 2010 года GE Healthcare подписала соглашение о стратегическом партнерстве с целью вывода на рынок больниц технологии компьютерной томографии сердечно-сосудистой системы (КТ) от стартапа Arineta Ltd. из Израиль. В октябре 2010 года GE приобрела производителя газовых двигателей Dresser Inc. в рамках сделки на 3 миллиарда долларов, а также купила портфель розничных кредитных карт на 1,6 миллиарда долларов у Citigroup Inc. 14 октября 2010 г. GE объявила о приобретении Opal Software, специализирующейся на движении данных и моделировании SCADA. В декабре 2010 года, во второй раз в том же году (после приобретения Dresser), GE купила компанию нефтяного сектора Wellstream., Производителя труб для нефтепродуктов, за 800 миллионов фунтов (1,3 миллиарда долларов).

В марте 2011 года GE объявила о завершении сделки по приобретению частной компании Lineage Power Holdings, Inc. у Gores Group, LLC. В апреле 2011 года GE заявила о завершении покупки подразделения поддержки скважин John Wood plc за 2,8 миллиарда долларов.

В 2011 году GE Capital продала свои мексиканские активы на 2 миллиарда долларов Santander за 162 миллиона долларов. и выйти из бизнеса в Мексике. Сантандер также взял на себя портфельные долги GE Capital в стране. После этого GE Capital сосредоточилась на своем основном бизнесе и избавилась от непрофильных активов.

В июне 2012 года генеральный директор и президент GE Джефф Иммельт заявил, что компания инвестирует ₹ 3 миллиардов для ускорения свои предприятия в Карнатаке. В октябре 2012 года GE приобрела банковские депозиты на сумму 7 миллиардов долларов у Metlife Inc.

19 марта 2013 года Comcast выкупила акции GE в NBCU за 16,7 миллиарда долларов, положив конец давней доле компании в телевидении и кинематографе.

В апреле 2013 года GE приобрела производителя нефтепромысловых насосов Lufkin Industries за 2,98 миллиарда долларов.

В апреле 2014 года было объявлено, что GE ведет переговоры о приобретении глобального энергетического подразделения Французская инженерная группа Alstom за сумму около 13 миллиардов долларов. Конкурирующее совместное предложение было подано вИюнь 2014 года компании Siemens и Mitsubishi Heavy Industries (MHI), при этом Siemens стремится приобрести бизнес по производству газовых турбин Alstom за 3,9 миллиарда евро, а MHI предлагает создать совместное предприятие. в паровые турбины, плюс денежные вложения в размере 3,1 млрд евро. В июне 2014 года правление Alstom согласовало официальное предложение GE на сумму 17 миллиардов долларов. В рамках сделки французское правительство приобрело 20% -ную долю в Alstom, чтобы обеспечить интересы Франции в области энергетики и экономики Франции. Конкурентное предложение Siemens-Mitsubishi Heavy Industries было отклонено. Ожидается, что приобретение будет завершено в 2015 году. В 2014 году GE объявила, что рассматривает возможность продажи своего польского банковского бизнеса Bank BPH.

Позже в 2014 году General Electric объявила о планах открытия своего глобальный операционный центр в Цинциннн, Огайо. Глобальный операционный центр открылся в октябре 2016 года и стал многофункциональной организации общих служб GE. Он поддерживает финансы / бухгалтерский учет, человеческие ресурсы, информационные технологии, цепочку поставок, юридические и коммерческие операции и является одним из четырех многофункциональных центров общих услуг GE по всему миру в Пудуне, Китай; Будапешт, Венгрия; и Монтеррей, Мексика.

В апреле 2015 года GE объявила о намерении продать свой портфель недвижимости на сумму 26,5 млрд долларов Wells Fargo и Блэкстоун Групп. В апреле 2015 года было объявлено, что GE продает большую часть своего финансового подразделения и вернет акционерам около 90 миллиардов, поскольку фирма стремилась урезать свои активы и избавиться от своей имиджа «гибридной» компании, работающей как в банковской сфере, так и в банковской сфере. В августе 2015 года GE Capital согласилась продать свой бизнес в сфере финансовых услуг в сфере здравоохранения компании Capital One за 9 миллиардов долларов США. Сделка включается на сумму 8,5 млрд долларов США, предоставленные широкому кругу секторов, включая жилье для престарелых, больницы, медицинские кабинеты, амбулаторные услуги, фармацевтические препараты и медицинское оборудование. Также в августе 2015 года GE Capital согласилась продать платформу онлайн-депозитов GE Capital Bank Goldman Sachs. Условия сделки не разглашаются, но включает продажу 8 миллиардов долларов США онлайн-депозитов и еще 8 миллиардов долларов США депозитных сертификатов через посредников. Продажа была частью стратегического плана по выходу из банковского сектора США и освобождению от ужесточения банковских правил. GE также стремилась избавиться от своего систематически важного финансового учреждения ».

В сентябре 2015 года GE Capital согласилась продать свое транспортно-финансовое подразделение канадскому Банк Монреаля. В проданном подразделении было 8,7 млрд долларов США (11,5 млрд канадских долларов) активов, 600 сотрудников и 15 офисов в США и Канаде. Точные условия продажи не разглашаются, но окончательная стоимость продажи активов на момент закрытия премия по сторонам. В текущем 2015 году фонд активиста-инвестора Нельсона Пельца Триан купил долю компании на 2,5 миллиарда долларов.

В январе 2016 года Haier Group приобрела подразделение бытовой техники GE за 5,4 миллиарда долларов. В октябре 2016 года GE Renewable Energy согласилась выплатить 1,5 миллиарда евро Doughty Hanson Co за LM Wind Power в течение 2017 года.

В конце октября 2016 года было объявлено, что GE ведет переговоры о заключении сделок на сумму около 30 миллиардов по объединению GE Oil and Gas с Baker Hughes. Сделка создаст публично торгуемую компанию, контролируемую GE. Было объявлено, что GE Oil and Gas продаст свой бизнес по очистке воды в рамках соглашения о продаже с Baker Hughes. Сделка была одобрена ЕС в мае 2017 года и менеджером юстиции в июне 2017 года. Соглашение о слиянии было одобрено акционерами в конце июня 2017 года. 3 июля 2017 года сделка была завершена, и Baker Hughes стала компанией GE. и была переименована в Бейк Хьюз, компания A GE (BHGE). В ноябре 2018 года GE сократила свою долю в Baker Hughes до 50,4%. 18 октября 2019 года GE сократила свою долю до 36,8%, и компания была снова переименована в Baker Hughes.

В апреле 2017 года GE заявила, что их штаб-квартира стоимостью 200 миллионов долларов будет называться GE Innovation Point. Церемония закладки фундамента в кампусе площадью 2,5 акра на 800 человек состоялась 8 мая 2017 г., завершение строительства ожидается в середине 2019 г.

В мае 2017 г., GE подписала бизнес-сделки на сумму 15 млрд долларов с Саудовской Аравией. Саудовская Аравия — один из доверительных клиентов GE.

В сентябре 2017 года GE объявила о продаже своего подразделения промышленных решений ABB. Сделка закрыта 30 июня 2018 года.

Обвинения в мошенничестве и возможном гражданском иске SEC

15 августа 2019 года Гарри Маркополос, известный следователь по финансовому мошенничеству для открытия схемы Понци, которой руководит Бернард Мэдофф, обвинил General Electric в «более крупном мошенничестве, чем Enron», обвинив в мошенничестве с бухгалтерским учетом 38 миллиардов долларов. GE отрицала правонарушения.

6 октября 2020 года General Electric сообщила, что получила уведомление Уэллса от по комиссиям ценным бумагам и биржам, в котором говорилось, что SEC может подать гражданский иск за возможные нарушений правил о ценных бумагах.

Недостаточные резервы для долгосрочного ухода

Утверждается, что GE «скрывает» (т. Е. Занижает резерв) 29 миллиардов долларов убытков, связанных с ее долгосрочным уходом.

Согласно отчету Fitch Ratings за август 2019 года, существуют опасения, что GE не выделила достаточно денег для выполнения обязательств по долгосрочному уходу.

В 2018 году подан иск (дело Безио) было подано в суд штата Нью-Йорк от имени участника плана 401 (k) GE и владельцев акций, нарушивших о нарушении статьи 11 Закона о ценных бумагах заявленных 1933 года на основании предполагаемых искажений и упущений, связанных с страховыми резервы и показатели бизнес-сегментов GE.

Департамент страхования Канзаса (KID) требует от General Electric получить 14,5 млрд долларов капитальных взносов по своим договорам страхования в течение 7-летнего периода, заканчивающегося в 2024 году.

GE сообщила, что общая сумма обязательств по его договорам страхования значительно увеличилась с 2016 по 2019 год:

31 декабря 2016 года. 26,1 млрд долл.

31 декабря 2017 г. 38,6 млрд долл.

31 декабря 2018 г. 35,6 млрд долл.

31 декабря 2019 г. 39,6 млрд долл.

В 2018 г. GE объявила о выпуске нового стандарта Совета по стандартам финансового учета (FASB) в отношении финансовых услуг — страхование (раздел 944) повлияет на его финансовую отчетность. По оценкам г-на Маркополоса, когда новый стандарт бухгалтерского учета будет принят в первом квартале 2021 года, возникнут расходы в размере 10,5 млрд долларов США.

Ожидаемый убыток в размере 8 млрд долларов США при утилизации Baker Hughes

В 2017 году GE приобрела 62,5% акций Baker Hughes (BHGE), когда объединила свой нефтегазовый бизнес с Baker Hughes Incorporated. В 2018 году GE снизила свою долю до 50,4%, что привело к убытку в размере 2,1 млрд долларов. GE продать свою долю участия в дополнительных расходах в размере 8,4 млрд долларов (при условии, что цена акций BHGE составит 23,57 доллара за акцию). В ответ на обвинения в мошенничестве GE отметила, что сумма убытков составила 7,4 миллиарда долларов, если бы продажа активов произошла 26 июля 2019 года. Г-н Маркополос отметил, что BHGE является активным, доступным для продажи и, следовательно, текущей рыночной ценой. требуется бухгалтерский учет.

Маркополос отметил, что текущей ликвидности GE составил всего 0,67. Он выразил опасения, что GE может объявить о банкротстве в случае рецессии.

Другое

В 2018 году пенсионный план GE сообщила об убытках в размере 3,3 миллиарда долларов США по активам плана.

В 2018 году General Electric изменила ставку дисконтирования, используемую для расчета актуарных обязательств своих пенсионных планов. Ставка увеличена с 3,64% до 4,34%. Следовательно, обязательства по пенсионным планам с недостаточным финансированием снизились на 7 миллиардов долларов в годовом исчислении с 34,2 миллиарда долларов в 2017 году до 27,2 миллиарда долларов в 2018 году.

В октябре 2018 года General Electric объявила о «замораживании пенсий». примерно для 20 000 американских служащих. В 2021 году сотрудники будут переведены на пенсионный план с установленными взносами.

30 марта 2020 года рабочие завода General Electric протестировали против преобразования заводов по производству реактивных двигателей для производства вентиляторов во время COVID-19 кризис.

В июне 2020 года компания GE заключила соглашение о продаже своего осветительного бизнеса компании Savant Systems, Inc., лидеру в области профессионального умного дома. Финансовые детали сделки не разглашаются.

Финансовые показатели

Год	Выручка. в млн.	долларов США. Чистая прибыль в млн. Долл. США	долларов США. Общая сумма активов. в млн. Долл. США	долларов США за акцию. в долларах США	сотрудников
2005	136,580	16,720	673,321	22,35
2006	151,568	20,742	696,683	22,43
2007	172,488	22,208	795,683	25,44
2008	181,581	17,335	797,769	19,44
2009	154,438	10,725	781,901	9,96
2010	149,567	11,344	747,793	12,68
2011	146,542	13,120	718,189	14,32
2012	146,684	13,641	684,999	16,56
2013 г.	113,245	13,057	656,560	20,32	307,000
2014	117,184	15,233	654,954	22,72	305,000
2015	117,386	-6,145	493,071	24,28	333,000
2016	123,693	8,176	365,183	28,36	295,000
2017	122,092	-6,222	377 945	25,02	313000
2018	121615	−22,802	309,129	12,71	283000

Дивиденды

В 2018 году GE снизила квартальные дивиденды с 0,12 доллара до 0, 01 доллара на акцию.

Акции

В качестве публично торгуемых акций компании на Нью-Йоркской фондовой бирже, акции GE были одним из 30 компонентов Dow Jones Industrial Average с 1907 по 2018 год, самого длительного непрерывного присутствия любой компании в индексе, и в то время это была единственная компания, входившая в первоначальный промышленный индекс Доу-Джонса, созданный в 1896 году. В августе 2000 года компания рыночной капитализацией 601 миллиард долларов и была самой дорогой компанией в мире. 26 июня 2018 г. Были исключены индекс и заменены на Альянс Уолгринз Сапоги. В предшествовавших ее годах исчислении акции GE были худшими по показателям в Dow, упав более чем на 55% в годовом исчислении и более чем на 25% с начала года. Компания продолжала терять стоимость после исключения из индекс.

• 

  Линейный график цен акций GE за 1962–2013 гг.

• 

  график объем торгов GE

Подкупность

В июле 2010 г. General Electric была готова заплатить 23,4 миллиона долларов для соглашений об услугах биржевых комиссий по ценным бумагам, поскольку они используют контракты в рамках программы ООН «Нефть в обмен на продовольствие».

Корпоративные отношения

General Electric неоновая вывеска.

В 1959 году General Electric обвинили в незаконном картелю в государствах после принятия Антимонопольного закона Шермана. (1890) с целью поддержания искусственно завышенных цен. Всего будут осуждены 29 компаний и 45 руководителей. Последующее парламентское расследование показало, что «преступление служащих» было наиболее дорогостоящей формой преступления для финансовых Соединенных Штатов.

GE — это многонациональный конгломерат со штаб-квартирой в Бостоне, штат Массачусетс. Однако его главные офисы центра расположены по адресу 30 Rockefeller Plaza в Рокфеллер- в Нью-Йорке, известном теперь как Comcast Building. Ранее он назывался GE Building из-за известного логотипа GE на крыше; Штаб-квартира NBC и основная студия находятся в здании. Через свою дочернюю компанию RCA он был сосредоточен с момента его строительства в 1930-х годах. В 1974 году GE переехала из здания GE на Лексингтон-авеню в Фэрфилд, Коннектикут. В 2016 году GE объявила о переезде в район Южный Бостон-Уотерфронт в Бостоне, Массачусетс, частично в результате пакета стимулов, предоставляемого властями штата и города. Первая группа рабочих прибыла летом 2016 года, а полный переезд будет завершен к 2018 году. Из-за плохих финансовых показателей и сокращения штата GE продала землю, на которой планировала построить новое здание штаб-квартиры, вместо того, чтобы занять соседнее арендованные здания.

Налоговая декларация GE является самой крупной декларацией, поданной в США; возврат за 2005 год составлял примерно 24 000 страниц в распечатанном виде и 237 мегабайт в электронном виде. По состоянию на 2011 год компания потратила на лоббирование США больше, чем любая другая компания.

В 2005 году GE запустила свою инициативу «Ecomagination» в попытке позиционировать себя как «зеленая» компания.. GE является одним из крупнейших игроков в ветроэнергетике и разрабатывает экологически чистые продукты, такие как гибридные локомотивы, решения для опреснения и повторного использования воды, а также фотоэлектрические элементы. Компания «построила мощный завод по производству солнечных панелей в США» и поставила перед своими дочерними цели по выбросам парниковых газов.

21 мая 2007 года GE объявила о намерении продать подразделение GE Plastics производителю нефтехимической продукции SABIC за чистую выручку в размере 11,6 млрд долларов. Сделка состоялась 31 августа 2007 года, и название компании было изменено на SABIC Innovative Plastics с Брайаном Гладденом в качестве генерального директора.

В феврале 2017 года GE объявила, что компания намерена сократить гендерный разрыв . пообещав нанять и назначить 20 000 женщин на технических должностях к 2020 году. Компания также стремится обеспечить соотношение мужчин и женщин в использовании 50:50 гендерное представительство на всех начальных уровнях технических программ.

В октябре 2017 года GE объявила о закрытии научно-исследовательских центров в Шанхае, Мюнхене и Рио-де-Жанейро. В прошлом году компания потратила 5 миллиардов долларов на НИОКР.

25 февраля 2019 года GE продает свой бизнес по производству тепловозов Westinghouse Air Brake Technologies Corporation (WAB), также известная как Wabtec.

Генеральный директор

По состоянию на октябрь 2018 года Джон Л. Флэннери был заменен на H. Лоуренс Калп младший в качестве председателя и главного исполнительного директора единогласно проголосовал за совет директоров GE.

• Чарльз А. Коффин (1913–1922)
• Оуэн Д. Янг (1922–1922). 1939, 1942–1945)
• Филип Д. Рид (1940–1942, 1945–1958)
• Ральф Дж. Кординер (1958–1963)
• Джеральд Л. Филлипп (1963–1972)
• Фред Дж. Борч (1967–1972)
• Реджинальд Х. Джонс (1972–1981)
• Джек Уэлч (1981–2001)
• Джефф Иммельт (2001–2017)
• Джон Л. Флэннери (2017–2018)
• Х. Лоуренс Калп-младший (2018 — настоящее время)

Корпоративное признание и рейтинги

В 2011 году Fortune поставил GE на шестое место по величине фирм в США и на 14- е — самый выгодный. Другие рейтинги за 2011/2012 гг.:

• Компания лидеров №18 (Fortune)
• №6 лучший мировой бренд (Interbrand )
• №82 зеленая компания (Newsweek )
• Компания №91, которой больше всего восхищаются (Fortune)
• Компания №19 по ряду самых инноваций (Fast Company ).

В 2012 году бренд GE был оценен в 28,8 млрд долларов. 354>Джефф Иммельт внес ряд изменений в представление бренда, введен в эксплуатацию в 2004 году, после того, как он принял бразды правления в председатель качестве, чтобы объединить диверсифицированный бизнес GE.

Изменения включали новую корпоративную цветовую палитру, небольшие в Логотип GE, новый индивидуальный шрифт (GE Inspira) и новый слоган «Воображение в действии», составленный Дэвидом Лукасом, чтобы заменить слоган «<421 изменение>Мы воплощаем в жизнь хорошее », Файл с 1979 года. требует, чтобы многие заголовки были в нижнем регистре, и визуальное «белое пространство» в документы и рекламу. Изменения были разработаны Вольфом Олинсом и используются в маркетинге, литературе и на веб-сайтах GE. В 2014 году было представлено второе семейство шрифтов: GE Sans and Serif by Bold Понедельник, созданный под художественным руководством Вольфа Олинса.

По состоянию на 2016 год GE фигурировала в списке Fortune 500 в течение 22 лет и занимала 11-е место. GE была удалена из индекс Доу-Джонса 28 июня 2018 г., после того как значение упало ниже 1% от индекс индекс.

Рейтинг в Fortune 500

Год	Ранг
1996	7
1997	5
1998	5
1999	5
2000	6
2001	5
2002	6
2003	5
2004	5
2005	5
2006	7
2007	6
2008	6
2009	5
2010	4
2011	6
2012	6
2013	8
2014	9
2015	8
2016	11
2017	13
2018	18
2019	21

Компании

Основные бизнес-подразделения GE:

• GE Additive
• GE Aviation
• GE Capital
• GE Digital
• GE Healthcare
• GE Power
• GE Renewable Energy
• GE Global Research

Посредством этих бизнесов GE участвует на рынках, включая генерацию, передачу и распределение электроэнергии (например, ядерная, газовая и солнечная), освещение, промышленная автоматизация, медицинская визуализация оборудование, двигатели, железнодорожные локомотивы, авиационные реактивные двигатели и авиационные с услуги. Через GE Commercial Finance, GE Consumer Finance, GE Equipment Services и GE Insurance он предлагает широкий спектр финансовых услуг. Компания в более чем 100 странах.

датчики GE для управления железнодорожным локомотивом в музее около Саскатуна, Канада

General Imaging, производящие цифровые камеры GE.

Даже несмотря на то, что первая волна конгломератов (таких как ITT Corporation, Ling-Temco-Vought, Tenneco и т. Д…) Отошла на второй план к середине 1980-х, в конце 1990-х, другая волна (состоящая из Westinghouse, Tyco и других) пыталась, но не смогла имитировать успех GE.

В августе 2015 года GE Создать центры исследований и разработок в области упаковки карбида кремния в коалиции с Политехническим институтом SUNY в Ютике, Нью- Йорк. В рамках проекта будет 470 рабочих мест с потенциалом роста до 820 в течение 10 лет.

14 сентября 2015 года GE объявила о создании нового подразделения: GE Digital, которое объединит свое программное обеспечение и ИТ. возможности. Новое бизнес-подразделение возглавит Билл Ру, который пришел в GE в 2011 году из Cisco Systems и с тех пор работал над программным продуктом GE.

Бывшие подразделения

GE Industrial были подразделением, поставляющим устройством, освещением и промышленными товарами; системы автоматизации производства; пластмассы, силиконы и изделия из кварца; безопасность и датчики, а также финансирование оборудования, управление и эксплуатационные услуги. По состоянию на 2007 год у него было 70 000 сотрудников, приносящих 17,7 миллиарда долларов дохода. После значительных преобразований в конце 2007 года GE Industrial была разделена на два основных подразделения:

• GE Consumer Industrial
  • Appliances
  • Lighting
• GE Enterprise Solutions
  • Интеллектуальные платформы GE Fanuc
  • Безопасность
  • Sensing Inspection Technologies

Бывшее подразделение GE Plastics было продано в августе 2007 года и теперь называется SABIC Innovative Plastics.

4 мая 2008 г. было объявлено, что GE выставит на аукционе свой бизнес по производству бытовой техники с предполагаемой продажей на сумму 5–8 миллиардов долларов. Однако этот план провалился в результате рецессии.

Бывший сегмент GE Appliances and Lighting был распущен в 2014 году, когда GE подразделение бытовой техники пыталась ликвидировать продана Electrolux за 5,4 миллиарда долларов, но в итоге продана Haier в июне 2016 года из-за подачи антимонопольного права против Electrolux. GE Lighting (потребительское освещение) и недавно созданная Текущая, питаемая от GE, которая занимается коммерческими светодиодами, солнечными батареями, электромобилями и хранением энергии, стали самостоятельными предприятиями внутри компании., до продажи более поздних версий American Industrial Partners в апреле 2019 г.

Бывшее подразделение GE Transportation слилось с Wabtec 25 февраля 2019 г., в результате чего GE получила 24,9% акций Wabtec.

Экологические данные

Загрязнение

Компания GE имеет историю некоторых видов своей деятельности, приводящих к крупномасштабным атмосферным и загрязнением воды. Основываясь на данных института 2000 года, исследователи из Исследовательского института политической экономии перечислили корпорацию как четвертый по величине корпоративный производитель загрязнения воздуха в объемах Штатах, с более чем 4,4 миллиона фунтов в год (2000) выброс токсичных химикатов в год. воздух. GE также была причастна к созданию токсичных отходов. Согласно документам EPA, только Правительство США, Honeywell и Chevron Corporation несут ответственность за производство большего количества Superfund свалки токсичных отходов.

В 1983 году Генеральный прокурор штата Нью-Йорк Роберт Абрамс подал иск в Окружной суд США Северного округа Нью-Йорк, чтобы заставить GE оплатить очистку того, что, как утверждается, представляет собой более 100 000 тонн химикатов, сброшенных с их завода в Уотерфорде, Нью-Йорк. В 1999 году компания согласилась выплатить компенсацию в размере 250 миллионов долларов в связи с утверждениями о загрязнении Хаусатоник (Питтсфилд, Массачусетс ) и других участков полихлорированными дифенилами (ПХД) и другие опасные вещества.

В 2003 году обеспечивает из опасений, что план, предложенный GE, не «надлежащую защиту здоровья населения и окружающей среды», Агентство по охране окружающей среды США издало одностороннее административное распоряжение компании «заняться очисткой объекта GE» в Рим, США, также загрязненный ПХД.

ядерные реакторы, задействованные в кризисе 2011 года в Фукусиме I в Японии была освобождена GE, а архитектурные проекты были выполнены Ebasco, ранее принадлежавшей GE. Обеспокоенность по поводу конструкции и безопасности этих реакторов возникла еще в 1972 году, но опасность цунами в то время не обсуждалась. По состоянию на 2014 год такие же модели ядерных реакторов, разработанные GE, работают в США; однако по состоянию на 31 мая 2019 г. вызывающая споры АЭС «Пилигрим» в Плимуте, Массачусетс была остановлена ​​и находится в процессе вывода из эксплуатации.

Загрязнение реки Гудзон

GE загрязнение реки Гудзон полихлорированными дифенилами (ПХД) в период с 1947 по 1977 год. Это загрязнение вызвало ряд вредных последствий для дикой природы и людей, которые едят рыбу из реки или пьют воду. В ответ на заражение активисты протестовали способами. Музыкант Пит Сигер основал шлюп реки Гудзон в Клируотере и фестиваль в Клируотере, чтобы привлечь внимание к проблеме. В 1983 году Агентство по охране окружающей среды США (EPA) объявило 200-мильный (320 км) участок реки от Гудзон-Фолс до Нью-Йорка Суперфондом сайт, требующий очистки. Этот сайт Суперфонда считается одним из лидеров в стране. Другие источники загрязнения, в том числе ртутное загрязнение и сброс сточных вод, также способствуют возникновению проблем в бассейне реки Гудзон.

Загрязнение реки Хаусатоник

С ок. 1932 г. до 1977 года GE загрязнение рекуперация Хаусатоник выбросами ПХБ со своего завода в Питтсфилд, Массачусетс. В 1997 году EPA определило завод в Питтсфилде и несколько миль от Хаусатоник как объект Superfund и приказало GE исправить положение. Aroclor 1254 и Aroclor 1260, произведенные Monsanto, были загрязняющими загрязнениями. Самые высокие кг ПХБ в реке Хаусатоник обнаружены в пруду Вудс в Ленокс, Массачусетс, к югу от Питтсфилда, где они были измерены до 110 мг / в отложениях. По оценкам, около 50% всех ПХБ, находящихся в настоящее время в реке, задерживается в отложениях за плотиной Вудс-Понд. По оценкам, это около 11 000 фунтов (5 000 кг) печатных плат. Загрязнены и бывшие залитые старицы. Водные птицы и рыба, обитающие в реке и вокруг нее, высокие уровни ПХД и опасность для здоровья в случае употребления.

Экологические инициативы

Объект GE в Скенектади, Нью-Йорк General Electric Зарядная станция для электромобилей в Северной Америке

6 июня 2011 года GE объявила о лицензировании солнечной тепловой технологии у eSolar для использования на электростанциях, использующих солнечную энергию, так и природный газ.

В мае 26 ноября 2011 года GE представила свой EV Solar Carport, навес для автомобиля, на крыше которого установлены солнечные панели, а под крышкой — зарядные станции для электромобилей.

В мае 2005 года GE объявила о запуске. Программа под названием «Ecomagination», предназначенная, по словам генерального директора Джеффа Иммелта, «для разработки решений завтрашнего дня, таких как солнечная энергия, гибридные локомотивы, топливные элементы, авиационные двигатели с низким уровнем выбросов, более легкие и прочные материалы, эффективное освещение и» технология очистки воды ». Это объявление стало поводом для публикации в «Нью-Йорк Таймс», что «в то время как повышенное внимание General Electric к чистым технологиям, это приведет к улучшению продукции и принесет пользу ее прибыли, авторитет г- на Иммельта как представитель национальной экологической политики имеет фатальные ошибки из-за непримиримости его компании к устранению своего токсичного наследия ».

GE заявила, что в 2008 году она инвестирует 1,4 миллиарда долларов в исследования и разработку чистых технологий в рамках программы Ecomagination своей инициатива. По состоянию на октябрь 2008 года эта схема привела к выводу на рынок 70 экологически чистых продуктов, от галогенных ламп до биогазовых двигателей. В 2007 году GE увеличила годовой доход для своей инициативы Ecomagination с 20 миллиардов долларов в 2010 году до 25 миллиардов после положительной реакции рынка на ее новые линейки продуктов. В 2010 году GE продолжила увеличивать свои инвестиции, добавив 10 миллиардов долларов в Ecomagination в течение следующих пяти лет.

Подразделение GE Energy возобновляемой энергии значительно расширилось, чтобы идти в ногу с ростом США и мира. спрос на чистую энергию. С момента входа в возобновляемых источников энергии в 2002 году GE инвестировала более 850 миллионов долларов в коммерциализацию возобновляемых источников энергии. В августе 2008 года она приобрела Kelman Ltd, компанию из Ирландии, специализирующуюся на диагностике передовых технологий мониторинга и трансформаторов, используемую в производстве возобновляемой энергии, и в мае 2010 года объявила о расширении своего бизнеса в Северной Ирландии. В 2009 году GE инициативы в возобновляемой энергетики., к которому принадлежит солнечная энергия, энергия ветра и газовые двигатели GE Jenbacher, использующие возобновляемые и невозобновляемые газы на основе метана, используют больше более 4900 человек по всему миру и создали более 10000 рабочих мест.

GE Energy и Orion New Zealand (Orion) объявили о внедрении первого этапа системы управления сетью GE, чтобы помочь повысить надежность энергоснабжения клиентов. Система управления распределением ENMAC GE является источником энергии Orion. Система технологий smart grid значительно улучшит способность сетевой компании управлять крупными сетевыми чрезвычайными ситуациями и поможет быстрее восстанавливать электроэнергию при сбоях.

В июне 2018 года добровольцы GE, внутренняя группа сотрудников GE, вместе с Малазийским обществом природы, пересадили более 270 растений из лесного заповедника Таман-Тугу, чтобы их можно было пересадить на лесную тропу под строительство.

Образовательные инициативы

GE Healthcare сотрудничает с Медицинской школой государственного университета Уэйна и Медицинским университетом Южной Каролины, чтобы предложить интегрированную радиологию учебный план во соответствующее время программ MD под руководством исследователей исследования Расширенный диагностический ультразвук в условиях микрогравитации в условиях микрогравитации. GE пожертвовала этим двум учреждениям ультразвуковое оборудование Logiq E на сумму более одного миллиона долларов.

Маркетинговые инициативы

С сентября 2011 года по апрель 2013 года GE провела маркетинговую кампанию посвящен рассказу историй о «новаторах — людях, которые меняют мир своим действием или изобретением». Инициатива включала 30 3-минутных фильмов от ведущих режиссеров-документалистов (Альберт Мэйлс, Джессика Ю, Лесли Иверкс, Стив Джеймс, Alex Gibney, Lixin Fan, Gary Hustwit и другие), а также конкурс, созданный пользователями, на котором было подано более 600 заявок, из которых было выбрано 20 финалистов.

Короткометражные фильмы, большие идеи были представлены Международным кинофестивале в Торонто в 2011 году в партнерстве с cinelan. Рассказы включали прорывы в Slingshot (система дистилляции водяного пара), исследованиях рака, производства, управления болью и доступе к пище. Каждый из 30 фильмов получил мировую премьеру на крупном международном кинофестивале, включая кинофестиваль Sundance и кинофестиваль Tribeca. Победивший в конкурсе фильм режиссера-любителя «Фонд киборгов» получил приз в размере 100 000 долларов США на кинофестивале Сандэнс в 2013 году. По данным GE, кампания собрала более 1,5 миллиарда просмотров в СМИ, 14 миллионов просмотров в Интернете и была просмотрена в 156 странах.

С января 2017 года GE подписала контракт на сумму около 7 миллионов долларов с Бостон. Компания Celtics разместила свой корпоративный логотип на футболке команды NBA.

Политическая принадлежность

В 1950-х годах GE спонсировала Рональда Рейгана телевизионная карьера и запустила его лекционный цикл. GE также финансирует социальные программы, поддерживающие организации по защите гражданских прав и образовательные программы для меньшинств.

Заметные выступления в СМИ

В начале 1950-х Курт Воннегут был писателем. для GE. Ряд его романов и рассказов (в частности, Кошачья колыбель и Игрок Пиано ) к вымышленному городу Илион, который, по всей видимости, основан на Скенектади, Нью -Йорк. Ilium Works — это место действия рассказа «Олень на заводе ».

В 1981 году GE выиграла награду Clio за рекламу «30 мягких белых лампочек», «Мы воплощаем в жизнь хорошее». Слоган «Мы воплощаем в жизнь хорошее» был создан Филом Дюзенберри в рекламном агентстве BBDO.

GE был в центре внимания короткой темы 1991 года Оскар -документальный фильм-победитель « Смертельный обман: General Electric, ядерное оружие и окружающая среда », в котором рекламные ролики GE« Мы воплощаем добро в жизнь »сопоставляются с правдивыми историями рабочих и соседей, на жизнь повлияла деятельность компании с участием Ядерное оружие.

В 2013 году GE получила Национальную Премию Джефферсона за выдачу услуг перед крупной корпорацией.

См. также

• Портал компаний

• GE Technology Infrastructure
• Атомная энергетическая лаборатория Ноллс
• Список активов, принадлежащих General Electric
• Картель Фебус
• 100 поставщиков федеральных подрядчиков США

Ссылки

Дополнительная литература

• Карлсон, У. Бернард. Инновации как социальный процесс: Элиху Томсон и рост General Electric, 1870–1900 (Кембридж: Cambridge University Press, 1991).
• Вудбери, Дэвид О. Элиху Томсон, любимый ученый (Бостон: Музей науки, 1944)
• Хейни, Джон Л. Коллекция Элиху Томсона Ежегодник Американского философского общества за 1944 год.
• Хаммонд, Джон В. Мужчины и Вольтс: История General Electric, опубликовано в 1941 году, 436 страниц..
• Милл, Джон М. Мужчины и вольт на войне: история General Electric во Второй мировой войне, опубликовано в 1947 году.
• Ирмер, Томас. Джерард Свуп. В иммигрантском предпринимательстве: немецко-американские бизнес-биографии, 1720 г. по настоящее время, т. 4, отредактированный Джеффри Феаром. Немецкий исторический институт.

Внешние ссылки

На Викискладе есть материалы, связанные с General Electric .

• Официальный веб-сайт
• Коммерческие данные General Electric:
  • Google Finance
  • Yahoo! Финансы
  • документы SEC

General Electric Company

Type	Public
Traded as	NYSE: GE S&P 100 component S&P 500 component
ISIN	US3696043013 (since 2021)
Industry	Conglomerate
Predecessor	Edison General Electric Company Thomson-Houston Electric Company
Founded	April 15, 1892; 131 years ago in Schenectady, New York, US
Founders	Charles A. Coffin Thomas Edison J. P. Morgan
Headquarters	Boston, Massachusetts, U.S.
Area served	Worldwide
Key people	H. Lawrence Culp Jr. (Chairman & CEO)
Products	Aircraft engines Electrical distribution Energy Finance Software Wind turbines
Revenue	US$76.56 billion[1]: 44  (2022)
Operating income	US$1.41 billion[1]: 44  (2022)
Net income	US$292 million[1]: 44  (2022)
Total assets	US$187.8 billion[1]: 45  (2022)
Total equity	US$36.37 billion[1]: 45  (2022)
Number of employees	172,000[1]: 5  (2022)
Subsidiaries	GE Additive GE Aviation GE Capital GE Digital GE Power GE Renewable Energy GE Research
Website	www.ge.com

General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston.

The company operates in aviation, power, renewable energy, digital industry, additive manufacturing and venture capital and finance.^{[2][3][self-published source][4]}

In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue.^[5] In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed.^[6][7][8] Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize.^[9]

On November 9, 2021, the company announced it would divide itself into three investment-grade public companies. On July 18, 2022, GE unveiled the brand names of the companies it will create through its planned separation: GE Aerospace, GE HealthCare and GE Vernova.^[10][11] The new companies will be focused on aerospace, healthcare, and energy (renewable energy, power, and digital). The first spin-off of GE HealthCare was finalized on January 4, 2023, with GE holding 19.9% of shares.^[12] This will be followed by the spin-off of GE’s portfolio of energy businesses which plan to become GE Vernova in 2024.^[13] Following these transactions, GE will be an aviation-focused company, renaming itself as GE Aerospace, and will be the legal successor of the original GE.^[14][15][16]

History[edit]

Formation[edit]

During 1889, Thomas Alva Edison (1847–1931) had business interests in many electricity-related companies, including Edison Lamp Company, a lamp manufacturer in East Newark, New Jersey; Edison Machine Works, a manufacturer of dynamos and large electric motors in Schenectady, New York; Bergmann & Company, a manufacturer of electric lighting fixtures, sockets, and other electric lighting devices; and Edison Electric Light Company, the patent-holding company and financial arm for Edison’s lighting experiments, backed by J. P. Morgan (1837–1913) and the Vanderbilt family.^[18]

In 1889, Drexel, Morgan & Co., a company founded by J.P. Morgan and Anthony J. Drexel financed Edison’s research and helped merge several of Edison’s separate companies under one corporation forming Edison General Electric Company, which was incorporated in New York on April 24, 1889. The new company acquired Sprague Electric Railway & Motor Company in the same year.^[19][20] The consolidation did not involve all of the companies established by Edison; notably, the Edison Illuminating Company, which would later become Consolidated Edison, was not part of the merger.

In 1880, Gerald Waldo Hart formed the American Electric Company of New Britain, Connecticut, which merged a few years later with Thomson-Houston Electric Company, led by Charles Coffin. In 1887, Hart left to become superintendent of the Edison Electric Company.^[21] General Electric was formed through the 1892 merger of Edison General Electric Company and Thomson-Houston Electric Company with the support of Drexel, Morgan & Co.^[20] The original plants of both companies continue to operate under the GE banner to this day.^[22]

The General Electric business was incorporated in New York, with the Schenectady plant used as headquarters for many years thereafter. Around the same time, General Electric’s Canadian counterpart, Canadian General Electric, was formed.^[23]

In 1893, General Electric bought the business of Rudolf Eickemeyer in Yonkers, New York, along with all of its patents and designs. Eickemeyer’s firm had developed transformers for use in the transmission of electrical power.^[24]

Public company[edit]

In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average,^[25] where it remained a part of the index for 122 years, though not continuously.^[26]

In 1911, General Electric absorbed the National Electric Lamp Association (NELA) into its lighting business. GE established its lighting division headquarters at Nela Park in East Cleveland, Ohio. The lighting division has since remained in the same location.^[27]

RCA and NBC[edit]

Owen D. Young, through GE, founded the Radio Corporation of America (RCA) in 1919, after purchasing the Marconi Wireless Telegraph Company of America. He aimed to expand international radio communications. GE used RCA as its retail arm for radio sales.^[28] In 1926, RCA co-founded the National Broadcasting Company (NBC), which built two radio broadcasting networks. In 1930, General Electric was charged with antitrust violations and was ordered to divest itself of RCA.^[29]

Television[edit]

In 1927, Ernst Alexanderson of GE made the first demonstration of television broadcast reception at his General Electric Realty Plot home at 1132 Adams Rd, Schenectady, New York.^[30][31] On January 13, 1928, he made what was said to be the first broadcast to the public in the United States^[30] on GE’s W2XAD: the pictures were picked up on 1.5 square inch (9.7 square centimeter) screens in the homes of four GE executives. The sound was broadcast on GE’s WGY (AM).^{[citation needed]}

Experimental television station W2XAD evolved into the station WRGB which, along with WGY and WGFM (now WRVE), was owned and operated by General Electric until 1983.^[32] In 1965, the company expanded into cable with the launch of a franchise, which was awarded to a non-exclusive franchise in Schenectady through subsidiary General Electric Cablevision Corporation.^[33] On February 15, 1965, General Electric expanded its holdings in order to acquire more television stations to meet the maximum limit of the FCC, and more cable holdings through subsidiaries General Electric Broadcasting Company and General Electric Cablevision Corporation.^[34]

The company also owned television stations such as KOA-TV (now KCNC-TV) in Denver^[35] and WSIX-TV (later WNGE-TV, now WKRN) in Nashville,^[36] but like WRGB, General Electric sold off most of its broadcasting holdings, but held on to the Denver television station^[37] until in 1986, when General Electric bought out RCA and made it into an owned-and-operated station by NBC. It even stayed on until 1995 when it was transferred to a joint venture between CBS and Group W in a swap deal, alongside KUTV in Salt Lake City for longtime CBS O&O in Philadelphia, WCAU-TV.^[38]

Former General Electric-owned stations[edit]

Stations are arranged in alphabetical order by state and city of license.

City of license / Market	Station	Channel TV (RF)	Years owned	Current ownership status
Denver, Colorado	KCNC-TV	4 (35)	1968–1986	CBS owned-and-operated station, owned by CBS News and Stations
Albany, New York	WRGB	6 (35)	1942–1983	CBS affiliate owned by Sinclair Broadcast Group
Nashville, Tennessee	WKRN-TV	2 (27)	1966–1983	ABC affiliate owned by Nexstar Media Group

Radio stations[edit]

City of license / Market	Station	Years owned	Current ownership status
San Francisco	KGO 810	1924–1945	owned by Cumulus Media
KFOG 104.5	1974–1986	KNBR-FM, owned by Cumulus Media
Denver	KOA 850	1924–1953 1968–1983	owned by iHeartMedia
KOAQ 103.5	1968–1983	KRFX, owned by iHeartMedia
Boston	WJIB 96.9	1972–1983	WBQT, owned by Beasley Broadcast Group
Albany — Schenectady — Troy, N.Y.	WGY 810	1922–1983	owned by iHeartMedia
WGFM 99.5	1939–1983	WRVE, owned by iHeartMedia
Nashville	WSIX 980	1966–1983	WYFN, owned by Bible Broadcasting Network
WSIX-FM 97.9	1966–1983	owned by iHeartMedia

Power generation[edit]

Led by Sanford Alexander Moss, GE moved into the new field of aircraft turbo superchargers.^{[citation needed]} This technology also led to the development of industrial gas turbine engines used for power production.^[39] GE introduced the first set of superchargers during World War I, and continued to develop them during the interwar period. Superchargers became indispensable in the years immediately prior to World War II. GE supplied 300,000 turbo superchargers for use in fighter and bomber engines. This work led the U.S. Army Air Corps to select GE to develop the nation’s first jet engine during the war.^[40] This experience, in turn, made GE a natural selection to develop the Whittle W.1 jet engine that was demonstrated in the United States in 1941.^[41] GE was ranked ninth among United States corporations in the value of wartime production contracts.^[42] Although, their early work with Whittle’s designs was later handed to Allison Engine Company. GE Aviation then emerged as one of the world’s largest engine manufacturers, bypassing the British company, Rolls-Royce plc.

Some consumers boycotted GE light bulbs, refrigerators and other products during the 1980s and 1990s. The purpose of the boycott was to protest against GE’s role in nuclear weapons production.^[43]

In 2002, GE acquired the wind power assets of Enron during its bankruptcy proceedings.^[44] Enron Wind 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.^[45] It acquired ScanWind in 2009.^[46][47]

In 2018, GE Power garnered press attention when a model 7HA gas turbine in Texas was shut down for two months due to the break of a turbine blade.^[48] This model uses similar blade technology to GE’s newest and most efficient model, the 9HA. After the break, GE developed new protective coatings and heat treatment methods. Gas turbines represent a significant portion of GE Power’s revenue, and also represent a significant portion of the power generation fleet of several utility companies in the United States. Chubu Electric of Japan and Électricité de France also had units that were impacted. Initially, GE did not realize the turbine blade issue of the 9FB unit would impact the new HA units.^[49]

Computing[edit]

GE was one of the eight major computer companies of the 1960s along with IBM, Burroughs, NCR, Control Data Corporation, Honeywell, RCA, and UNIVAC.^[50] GE had a line of general purpose and special purpose computers, including the GE 200, GE 400, and GE 600 series general purpose computers,^[50] the GE 4010, GE 4020, and GE 4060 real-time process control computers, and 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.^[51]

In 1962, GE started developing its GECOS (later renamed GCOS) operating system, originally for batch processing, but later extended to time-sharing and transaction processing. Versions of GCOS are still in use today. From 1964 to 1969, GE and Bell Laboratories (which soon dropped out) joined with MIT to develop the Multics operating system on the GE 645 mainframe computer. The project took longer than expected and was not a major commercial success, but it demonstrated concepts such as single-level storage, dynamic linking, hierarchical file system, and ring-oriented security. Active development of Multics continued until 1985.

GE got into computer manufacturing because in the 1950s they were the largest user of computers outside the United States federal government,^[50] aside from being the first business in the world to own a computer. Its major appliance manufacturing plant «Appliance Park» was the first non-governmental site to host one.^[52] However, in 1970, GE sold its computer division to Honeywell, exiting the computer manufacturing industry,^[50] though it retained its timesharing operations for some years afterwards. GE was a major provider of computer time-sharing services, through General Electric Information Services (GEIS, now GXS), offering online computing services that included GEnie.

In 2000, when United Technologies Corp. planned to buy Honeywell, GE made a counter-offer that was approved by Honeywell.^[53] On July 3, 2001, the European Union issued a statement that «prohibit the proposed acquisition by General Electric Co. of Honeywell Inc.».^[54] The reasons given were it «would create or strengthen dominant positions on several markets and that the remedies proposed by GE were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell».^[54]

On June 27, 2014, GE partnered with collaborative design company Quirky to announce its connected LED bulb called Link. The Link bulb is designed to communicate with smartphones and tablets using a mobile app called Wink.^[55]

Acquisitions and divestments[edit]

In December 1985, GE reacquired the RCA Corporation, primarily to gain ownership of the NBC television network (also parent of Telemundo Communications Group) for $6.28 billion; this merger surpassed the Capital Cities/ABC merger that happened earlier that year as the largest non-oil merger in world business history.^[56] The remainder of RCA was sold to various companies, including Bertelsmann which absorbed RCA Records and Thomson SA, which licensed the manufacture of RCA branded electronics, traced its roots to Thomson-Houston, one of the original components of GE.^{[citation needed]} Also in 1986, Kidder, Peabody & Co., a U.S.-based securities firm, was sold to GE and following heavy losses was sold to PaineWebber in 1994.^[57]

In 2002, Francisco Partners and Norwest Venture Partners acquired a division of GE called GE Information Systems (GEIS). The new company, named GXS, is based in Gaithersburg, Maryland. GXS is a provider of business-to-business e-commerce solutions. GE maintains a minority stake in GXS.^[58] Also in 2002, GE Wind Energy was formed when GE bought the wind turbine manufacturing assets of Enron Wind after the Enron scandals.^[44][45][59]

In 2004, GE bought 80% of Vivendi Universal Entertainment, the parent of Universal Pictures from Vivendi. Vivendi bought 20% of NBC forming the company NBCUniversal. GE then owned 80% of NBCUniversal and Vivendi owned 20%. In 2004, GE completed the spin-off of most of its mortgage and life insurance assets into an independent company, Genworth Financial, based in Richmond, Virginia.^[60]

Genpact formerly known as GE Capital International Services (GECIS) was established by GE in late 1997 as its captive India-based BPO. 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 today, for services in customer service, finance, information technology, and analytics.^[61][62]

In May 2007, GE acquired Smiths Aerospace for $4.8 billion.^[63] Also in 2007, GE Oil & Gas acquired Vetco Gray for $1.9 billion,^[64][65] followed by the acquisition of Hydril Pressure & Control in 2008 for $1.1 billion.^[66][67]

GE Plastics was sold in 2008 to SABIC (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business.^[68][69]

On December 3, 2009, it was announced that NBCUniversal would become a joint venture between GE and cable television operator Comcast. Comcast would hold a controlling interest in the company, while GE would retain a 49% stake and would buy out shares owned by Vivendi.^[70]

Vivendi would sell its 20% stake in NBCUniversal to GE for US$5.8 billion. Vivendi would sell 7.66% of NBCUniversal to GE for US$2 billion if the GE/Comcast deal was 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 was completed or to the public via an IPO if the deal was not completed.^[71][72]

On March 1, 2010, GE announced plans to sell its 20.85% stake in Turkey-based Garanti Bank.^[73] In August 2010, GE Healthcare signed a strategic partnership to bring cardiovascular Computed Tomography (CT) technology from start-up Arineta Ltd. of Israel to the hospital market.^[74] In October 2010, GE acquired gas engines manufacturer Dresser Industries in a $3 billion deal and also bought a $1.6 billion portfolio of retail credit cards from Citigroup Inc.^[75][76] On October 14, 2010, GE announced the acquisition of data migration & SCADA simulation specialists Opal Software.^[77] In December 2010, for the second time that year (after the Dresser acquisition), GE bought the oil sector company Wellstream, an oil pipe maker, for 800 million pounds ($1.3 billion).^[78]

In March 2011, GE announced that it had completed the acquisition of privately held Lineage Power Holdings from The Gores Group.^[79] In April 2011, GE announced it had completed its purchase of John Wood plc’s Well Support Division for $2.8 billion.^[80]

In 2011, GE Capital sold its $2 billion Mexican assets to Santander for $162 million and exited the business in Mexico. Santander additionally assumed the portfolio debts of GE Capital in the country. Following this, GE Capital focused in its core business and shed its non-core assets.^[81]

In June 2012, CEO and President of GE Jeff Immelt said that the company would invest ₹3 billion to accelerate its businesses in Karnataka.^[82] In October 2012, GE acquired $7 billion worth of bank deposits from MetLife Inc.^[83]

On March 19, 2013, Comcast bought GE’s shares in NBCU for $16.7 billion, ending the company’s longtime stake in television and film media.^[84]

In April 2013, GE acquired oilfield pump maker Lufkin Industries for $2.98 billion.^[85]

In April 2014, it was announced that GE was in talks to acquire the global power division of French engineering group Alstom for a figure of around $13 billion.^[86] A rival joint bid was submitted in June 2014 by Siemens and Mitsubishi Heavy Industries (MHI) with Siemens seeking to acquire Alstom’s gas turbine business for €3.9 billion, and MHI proposing a joint venture in steam turbines, plus a €3.1 billion cash investment. In June 2014 a formal offer from GE worth $17 billion was agreed by the Alstom board. Part of the transaction involved the French government taking a 20% stake in Alstom to help secure France’s energy and transport interests and French jobs. A rival offer from Siemens-Mitsubishi Heavy Industries was rejected. The acquisition was expected to be completed in 2015.^[87] In October 2014, GE announced it was considering the sale of its Polish banking business Bank BPH.^[88]

Later in 2014, General Electric announced plans to open its global operations center in Cincinnati, Ohio.^[89] The Global Operations Center opened in October 2016 as home to GE’s multifunctional shared services organization. It supports the company’s finance/accounting, human resources, information technology, supply chain, legal and commercial operations, and is one of GE’s four multifunctional shared services centers worldwide in Pudong, China; Budapest, Hungary; and Monterrey, Mexico.^[90]

In April 2015, GE announced its intention to sell off its property portfolio, worth $26.5 billion, to Wells Fargo and The Blackstone Group.^[91] It was announced in April 2015 that GE would sell most of its finance unit and return around $90 billion to shareholders as the firm looked to trim down on its holdings and rid itself of its image of a «hybrid» company, working in both banking and manufacturing.^[92] In August 2015, GE Capital agreed to sell its Healthcare Financial Services business to Capital One for US$9 billion. The transaction involved US$8.5 billion of loans made to a wide array of sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices.^[93] Also in August 2015, GE Capital agreed to sell GE Capital Bank’s on-line deposit platform to Goldman Sachs. Terms of the transaction were not disclosed, but the sale included US$8 billion of on-line deposits and another US$8 billion of brokered certificates of deposit. The sale was part of GE’s strategic plan to exit the U.S. banking sector and to free itself from tightening banking regulations. GE also aimed to shed its status as a «systematically important financial institution».^[94]

In September 2015, GE Capital agreed to sell its transportation-finance unit to Canada’s Bank of Montreal. The unit sold had US$8.7 billion (CA$11.5 billion) of assets, 600 employees and 15 offices in the U.S. and Canada. Exact terms of the sale were not disclosed, but the final price would be based on the value of the assets at closing, plus a premium according to the parties.^[95] In October 2015, activist investor Nelson Peltz’s fund Trian bought a $2.5 billion stake in the company.^[96]

In January 2016, Haier acquired GE’s appliance division for $5.4 billion.^[97] In October 2016, GE Renewable Energy agreed to pay €1.5 billion to Doughty Hanson & Co for LM Wind Power during 2017.^[98]

At the end of October 2016, it was announced that GE was under negotiations for a deal valued at about $30 billion to combine GE Oil & Gas with Baker Hughes. The transaction would create a publicly traded entity controlled by GE.^[99] It was announced that GE Oil & Gas would sell off its water treatment business, GE Water & Process Technologies, as part of its divestment agreement with Baker Hughes.^[100] The deal was cleared by the EU in May 2017, and by the United States Department of Justice in June 2017.^[101][102] The merger agreement was approved by shareholders at the end of June 2017. On July 3, 2017, the transaction was completed and Baker Hughes became a GE company and was renamed Baker Hughes, a GE Company (BHGE).^[103] In November 2018, GE reduced its stake in Baker Hughes to 50.4%.^[104] On October 18, 2019, GE reduced its stake to 36.8% and the company was renamed back to Baker Hughes.^[105][106]

In May 2017, GE had signed $15 billion of business deals with Saudi Arabia.^[107] Saudi Arabia is one of GE’s largest customers.^[108] In September 2017, GE announced the sale of its Industrial Solutions Business to ABB. The deal closed on June 30, 2018.^[109][110]

Fraud allegations and notice of possible SEC civil action[edit]

On August 15, 2019, Harry Markopolos, a financial fraud investigator known for his discovery of a Ponzi Scheme run by Bernard Madoff, accused General Electric of being a «bigger fraud than Enron», alleging $38 billion in accounting fraud. GE denied wrongdoing.^[111][112]

On October 6, 2020, General Electric reported it received a Wells notice from the Securities and Exchange Commission stating the SEC may take civil action for possible violations of securities laws.^[113]

Insufficient reserves for long-term care policies[edit]

It is alleged that GE is «hiding» (i.e. under-reserved)^[114] $29 billion in losses related to its long-term care business.^[115]

According to an August 2019 Fitch Ratings report, there are concerns that GE has not set aside enough money to cover its long-term care liabilities.^[116]

In 2018, a lawsuit (the Bezio case) was filed in New York state court on behalf of participants in GE’s 401(k) plan and shareowners alleging violations of Section 11 of the Securities Act of 1933 based on alleged misstatements and omissions related to insurance reserves and performance of GE’s business segments.^[117]

The Kansas Insurance Department (KID) is requiring General Electric to make $14.5 billion of capital contributions for its insurance contracts during the 7-year period ending in 2024.^[118]

GE reported the total liability related to its insurance contracts increased significantly from 2016 to 2019:

December 31, 2016 $26.1 billion

December 31, 2017 $38.6 billion^[119]

December 31, 2018 $35.6 billion^[120]

December 31, 2019 $39.6 billion^[121]

In 2018, GE announced the issuance of the new standard by the Financial Accounting Standards Board (FASB) regarding Financial Services — Insurance (Topic 944) will materially affect its financial statements.^[122][123] Mr. Markopolos estimated there will be a $US 10.5 billion charge when the new accounting standard is adopted in the first quarter of 2021.^[124]

Anticipated $8 billion loss upon disposition of Baker Hughes[edit]

In 2017, GE acquired a 62.5% interest in Baker Hughes (BHGE) when it combined its oil & gas business with Baker Hughes Incorporated.^[125]
In 2018, GE reduced its interest to 50.4%, resulting in the realization of a $2.1 billion loss. GE is planning to divest its remaining interest and has warned that the divestment will result in an additional loss of $8.4 billion (assuming a BHGE share price of $23.57 per share).^[126] In response to the fraud allegations, GE noted the amount of the loss would be $7.4 billion if the divestment occurred on July 26, 2019.^[127] Mr. Markopolos noted that BHGE is an asset available for sale and therefore mark-to-market accounting is required.^[128]

Markopolos noted GE’s current ratio was only 0.67.^[115] He expressed concerns that GE may file for bankruptcy if there is a recession.^[129]

Other[edit]

In 2018, the GE Pension Plan reported losses of US$3.3 billion on plan assets.^[130]

In 2018, General Electric changed the discount rate used to calculate the actuarial liabilities of its pension plans. The rate was increased from 3.64% to 4.34%.^[131] Consequently, the reported liability for the underfunded pension plans decreased by $7 billion year-over-year, from $34.2 billion in 2017 to $27.2 billion in 2018.^[131]

In October 2018, General Electric announced it would «freeze pensions» for about 20,000 salaried U.S. employees. The employees will be moved to a defined-contribution retirement plan in 2021.^[132]

On March 30, 2020, General Electric factory workers protested to convert jet engine factories to make ventilators during the COVID-19 crisis.^[133]

In June 2020, GE made an agreement to sell its Lighting business to Savant Systems, Inc. Financial details of the transaction were not disclosed.^[134]

In November 2020, General Electric warned it would be cutting jobs waiting for a recovery due to the COVID-19 pandemic.^[135]

Financial performance[edit]

Year	Revenue in mil. US$	Net income in mil. US$	Total assets in mil. US$	Price per share in US$	Employees
2005[136]	136,580	16,720	673,321	22.35
2006[136]	151,568	20,742	696,683	22.43
2007[137]	172,488	22,208	795,683	25.44
2008[138]	181,581	17,335	797,769	19.44
2009[139]	154,438	10,725	781,901	9.96
2010[140]	149,567	11,344	747,793	12.68
2011[141]	146,542	13,120	718,189	14.32
2012[142]	146,684	13,641	684,999	16.56
2013[143]	113,245	13,057	656,560	20.32	307,000
2014[144]	117,184	15,233	654,954	22.72	305,000
2015[145]	117,386	−6,145	493,071	24.28	333,000
2016[146]	123,693	8,176	365,183	28.36	295,000
2017[147]	122,092	−6,222	377,945	25.02	313,000
2018[148]	121,615	−22,802	309,129	12.71	283,000

Dividends[edit]

General Electric was a longtime «dividend aristocrat» (a company with a long history of maintaining dividend payments to shareholders). Until 2017, the company had never cut dividends for 119 years before a 50% dividend reduction from 24 cents per share to 12 cents per share.^[149] In 2018, GE further reduced its quarterly dividend from 12 cents to 1 cent per share.^[150]

Stock[edit]

As a publicly-traded company on the New York Stock Exchange, GE stock was one of the 30 components of the Dow Jones Industrial Average from 1907 to 2018, the longest continuous presence of any company on the index, and during this time the only company which was part of the original Dow Jones Industrial Index created in 1896.^[151] In August 2000, the company had a market capitalization of $601 billion, and was the most valuable company in the world.^[152] On June 26, 2018, the stock was removed from the index and replaced with Walgreens Boots Alliance.^[153] In the years leading to its removal, GE was the worst performing stock in the Dow, falling more than 55 percent year on year and more than 25 percent year to date.^[154] The company continued to lose value after being removed from the index.^[155]

• 

  Linear GE stock price graph 1962–2013

• 

  GE trading volume graph

General Electric Co. announced on July 30, 2021 (the completion of) a reverse stock split of GE common stock at a ratio of 1-for-8 and trading on a split-adjusted basis with a new ISIN number (US3696043013) starting on August 2, 2021.^[156]

Bribery[edit]

In July 2010, General Electric was willing to pay $23.4 million to settle an SEC complaint, as GE bribed Iraqi government officials to win contracts under the U.N. oil-for-food program.^[157]

Corporate affairs[edit]

In 1959, General Electric was accused of promoting the largest illegal cartel in the United States since the adoption of the Sherman Antitrust Act (1890) in order to maintain artificially high prices. In total, 29 companies and 45 executives would be convicted. Subsequent parliamentary inquiries revealed that «white-collar crime» was by far the most costly form of crime for the United States’ finances.^[158]

GE is a multinational conglomerate headquartered in Boston, Massachusetts.^[159] However its main offices are located at 30 Rockefeller Plaza at Rockefeller Center in New York City, known now as the Comcast Building.^{[needs update][160]} It was formerly known as the GE Building 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. GE moved its corporate headquarters from the GE Building on Lexington Avenue to Fairfield, Connecticut in 1974.^[161] In 2016, GE announced a move to the South Boston Waterfront neighborhood of Boston, Massachusetts, partly as a result of an incentive package provide by state and city governments. The first group of workers arrived in the summer of 2016, and the full move will be completed by 2018.^{[162][163][164][needs update]} Due to poor financial performance and corporate downsizing, GE sold the land it planned to build its new headquarters building on, instead choosing to occupy neighboring leased buildings.^[165]

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.^[166] As of 2011, the company spent more on U.S. lobbying than any other company.^[167]

In 2005, GE launched its «Ecomagination» initiative in an attempt to position itself as a «green» company.
GE is one of the biggest players in the wind power industry and is developing 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.»,^[167] and has set goals for its subsidiaries to lower their greenhouse gas emissions.^[168]

On May 21, 2007, GE announced it would sell its GE Plastics division to petrochemicals manufacturer SABIC 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.^[169]

In February 2017, GE announced that the company intends to close the gender gap by promising to hire and place 20,000 women in technical roles by 2020. The company is also seeking to have a 50:50 male to female gender representation in all entry-level technical programs.^[170]

In October 2017, GE announced they would be closing research and development centers in Shanghai, Munich and Rio de Janeiro. The company spent $5 billion on R&D in the last year.^[171]

On February 25, 2019, GE sold its diesel locomotive business to Wabtec.^[172]

CEO[edit]

As of October 2018, John L. Flannery was replaced by H. Lawrence Culp Jr. as chairman and CEO in a unanimous vote of the GE Board of Directors.^[173]

• Charles A. Coffin (1913–1922)
• Owen D. Young (1922–1939, 1942–1945)
• Philip D. Reed (1940–1942, 1945–1958)
• Ralph J. Cordiner (1958–1963)
• Gerald L. Phillippe (1963–1972)
• Fred J. Borch (1967–1972)
• Reginald H. Jones (1972–1981)
• Jack Welch (1981–2001)
• Jeff Immelt (2001–2017)
• John L. Flannery (2017–2018)^[174]
• H. Lawrence Culp Jr. (2018–present)

Corporate recognition and rankings[edit]

In 2011, Fortune ranked GE the sixth-largest firm in the U.S.,^[175] and the 14th-most profitable.^[8] Other rankings for 2011–2012 include the following:^[176]

• #18 company for leaders (Fortune)
• #82 green company (Newsweek)
• #91 most admired company (Fortune)
• #19 most innovative company (Fast Company).

In 2012, GE’s brand was valued at $28.8 billion.^[177] CEO Jeff 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.^{[citation needed]}

Tom Geismar later stated that looking back at the logos of the 1910s, 1920s, and 1930s, one can clearly judge that they are old-fashioned. Chermayeff & Geismar, along with colleagues Bill Brown and Ivan Chermaev, created the modern 1980 logo.^[178] They, in turn, argued that even now the old logos look out of date, earlier they were good.^[179] The changes included a new corporate color palette, small modifications to the GE logo, a new customized font (GE Inspira) and a new slogan, «Imagination at work», composed by David Lucas, to replace the slogan «We Bring Good Things to Life» used since 1979.^[180] The standard requires many headlines to be lowercased and adds visual «white space» to documents and advertising. The changes were designed by Wolff Olins and are used on GE’s marketing, literature, and website. In 2014, a second typeface family was introduced: GE Sans and Serif by Bold Monday created under art direction by Wolff Olins.^[181]

As of 2016, GE had appeared on the Fortune 500 list for 22 years and held the 11th rank.^[182] GE was removed from the Dow Jones Industrial Average on June 28, 2018, after the value had dropped below 1% of the index’s weight.^[183]

Businesses[edit]

Ranking in Fortune 500

Year	Rank
1996	7
1997	5
1998	5
1999	5
2000	6
2001	5
2002	6
2003	5
2004	5
2005	5
2006	7
2007	6
2008	6
2009	5
2010	4
2011	6
2012	6
2013	8
2014	9
2015	8
2016	11
2017	13
2018	18
2019	21
2020	33
2021	38

GE’s primary business divisions are:

• GE Additive
• GE Aviation
• GE Capital
• GE Digital
• GE Healthcare
• GE Power
• GE Renewable Energy
• GE Research

Through these businesses, GE participates in markets that include the generation, transmission and distribution of electricity (e.g. nuclear, gas and solar), industrial automation, medical imaging equipment, motors, aircraft jet engines, and aviation services. Through GE Commercial Finance, GE Consumer Finance, GE Equipment Services, and GE Insurance it offers a range of financial services. It has a presence in over 100 countries.^[184]

General Imaging manufacturers GE digital cameras.^[186]

Even though the first wave of conglomerates (such as ITT Corporation, Ling-Temco-Vought, Tenneco, etc.) fell by the wayside by the mid-1980s, in the late 1990s, another wave (consisting of Westinghouse, Tyco, and others) tried and failed to emulate GE’s success.^[187]

As of August 2015 GE is planning to set up a silicon carbide chip packaging R&D center in coalition with SUNY Polytechnic Institute in Utica, New York. The project will create 470 jobs with the potential to grow to 820 jobs within 10 years.^[188]

On September 14, 2015, GE announced the creation of a new unit: GE Digital, which will bring together its software and IT capabilities. The new business unit will be headed by Bill Ruh, who joined GE in 2011 from Cisco Systems and has since worked on GE’s software efforts.^[189]

Former divisions[edit]

GE Industrial was a division providing appliances, lighting and industrial products; factory automation systems; plastics, silicones and quartz products; security and sensors technology, and equipment financing, management and operating services. As of 2007 it had 70,000 employees generating $17.7 billion in revenue.^[190] After some major realignments in late 2007, GE Industrial was organized in two main sub businesses:

• GE Consumer & Industrial
  • Appliances
  • Electrical Distribution
  • Lighting
• GE Enterprise Solutions
  • Digital Energy
  • GE Fanuc Intelligent Platforms
  • Security
  • Sensing & Inspection Technologies

The former GE Plastics division was sold in August 2007 and is now SABIC Innovative Plastics.

On May 4, 2008, it was announced that GE would auction off its appliances business for an expected sale of $5–8 billion.^[191] However, this plan fell through as a result of the recession.^[192]

The former GE Appliances and Lighting segment was dissolved in 2014 when GE’s appliance division was attempted to be sold to Electrolux for $5.4 billion, but eventually sold it to Haier in June 2016 due to antitrust filing against Electrolux. GE Lighting (consumer lighting) and the newly created Current, powered by GE, which deals in commercial LED, solar, EV, and energy storage, became stand-alone businesses within the company,^[193] until the sale of the latter to American Industrial Partners in April 2019.^[194]

The former GE Transportation division merged with Wabtec on February 25, 2019, leaving GE with a 24.9% holding in Wabtec.^[195]

On July 1, 2020, GE Lighting was acquired by Savant Systems and remains headquartered at Nela Park in East Cleveland, Ohio.^[196]

Environmental record[edit]

Carbon footprint[edit]

General Electric Company reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 2,080 Kt (-310 /-13% y-o-y).^[197] There has been a consistent declining trend in reported emissions since 2016.

General Electric Company’s annual Total CO2e emissions (Direct + Indirect) (in kilotonnes)

Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
3,830[198]	3,780[199]	2,800[200]	2,390[201]	2,080[197]

Pollution[edit]

Some of GE’s activities have given rise to large-scale air and water pollution. Based on data from 2000,^[202] researchers at the Political Economy Research Institute listed the corporation as the fourth-largest corporate producer of air pollution in the United States (behind only E. I. Du Pont de Nemours & Co., United States Steel Corp., and ConocoPhillips), with more than 4.4 million pounds per year (2,000 tons) of toxic chemicals released into the air.^[203] GE has also been implicated in the creation of toxic waste. According to EPA documents, only the United States Government, Honeywell, and Chevron Corporation are responsible for producing more Superfund toxic waste sites.^[204]

In 1983, New York State Attorney General Robert Abrams filed suit in the United States District Court for the Northern District of New York to compel GE to pay for the clean-up of what was claimed to be more than 100,000 tons of chemicals dumped from their plant in Waterford, New York.^[205] In 1999, the company agreed to pay a $250 million settlement in connection with claims it polluted the Housatonic River (Pittsfield, Massachusetts) and other sites with polychlorinated biphenyls (PCBs) and other hazardous substances.^[206]

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 issued a unilateral administrative order for the company to «address cleanup at the GE site» in Rome, Georgia, also contaminated with PCBs.^[207]

The nuclear reactors involved in the 2011 crisis at Fukushima I in Japan were GE designs,^[208] and the architectural designs were done by Ebasco,^[209] formerly owned by GE. Concerns over the design and safety of these reactors were raised as early as 1972, but tsunami danger was not discussed at that time.^[210] As of 2014, the same model nuclear power reactors designed by GE are operating in the US;^[211] however, as of May 31, 2019, the controversial Pilgrim Nuclear Generating Station, in Plymouth, Massachusetts, has been shut down and is in the process of decommission.

Pollution of the Hudson River[edit]

GE heavily contaminated the Hudson River with polychlorinated biphenyls (PCBs) between 1947 and 1977.^[212] This pollution caused a range of harmful effects to wildlife and people who eat fish from the river or drink the water.^[213] In response to the contamination, activists protested in various ways. Musician Pete Seeger founded the Hudson River Sloop Clearwater and the Clearwater Festival to draw attention to the problem. In 1983, the United States Environmental Protection Agency (EPA) declared a 200-mile (320 km) stretch of the river, from Hudson Falls to New York City, to be a Superfund site requiring cleanup. This Superfund site is considered to be one of the largest in the nation.^[214] Other sources of pollution, including mercury contamination and sewage dumping, have also contributed to problems in the Hudson River watershed.^[215][216]

Pollution of the Housatonic River[edit]

From c. 1932 until 1977, GE polluted the Housatonic River with PCB discharges from its plant at Pittsfield, Massachusetts. EPA designated the Pittsfield plant and several miles of the Housatonic to be a Superfund site in 1997, and ordered GE to remediate the site.^[217] Aroclor 1254 and Aroclor 1260, made by Monsanto, was the primary contaminant of the pollution.^[218][219] The highest concentrations of PCBs in the Housatonic River are found in Woods Pond in Lenox, Massachusetts, just south of Pittsfield, where they have been measured up to 110 mg/kg in the sediment.^[219] About 50% of all the PCBs currently in the river are estimated to be retained in the sediment behind Woods Pond dam. This is estimated to be about 11,000 pounds (5,000 kg) of PCBs.^[219] Former filled oxbows are also polluted.^[220] Waterfowl and fish who live in and around the river contain significant levels of PCBs and can present health risks if consumed.^{[221][222][223]}

[edit]

Environmental initiatives[edit]

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.^[224]

On May 26, 2011, GE unveiled its EV Solar Carport, a carport that incorporates solar panels on its roof, with electric vehicle charging stations under its cover.^[225]

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».^[226] The announcement prompted an op-ed piece in The New York Times to observe that, «while General Electric’s increased emphasis on clean technology 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.»^[227]

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.^[228] In 2010, GE continued to raise its investment by adding $10 billion into Ecomagination over the next five years.^[229]

GE Energy’s renewable energy 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 commercialization. In August 2008, it acquired Kelman Ltd,^[230] a Northern Ireland-based 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.^[231] In 2009, GE’s renewable energy initiatives, which include solar power, wind power and GE Jenbacher gas engines using renewable and non-renewable methane-based gases,^[232] employ more than 4,900 people globally and have created more than 10,000 supporting jobs.^[233]

GE Energy and Orion New Zealand (Orion) have announced the 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.

In June 2018, GE Volunteers, an internal group of GE Employees, along with Malaysian Nature Society, transplanted more than 270 plants from the Taman Tugu forest reserve so that they may be replanted in the forest trail which is under construction.

Educational initiatives[edit]

GE Healthcare is collaborating with The Wayne State University School of Medicine and the Medical University of South Carolina to offer an integrated radiology curriculum during their respective MD Programs led by investigators of the Advanced Diagnostic Ultrasound in micro-gravity study.^[234] GE has donated over one million dollars of Logiq E Ultrasound equipment to these two institutions.^[235]

Marketing initiatives[edit]

Between September 2011 and April 2013, GE ran a content marketing campaign dedicated to telling the stories of «innovators—people who are reshaping the world through act or invention». The initiative included 30 3-minute films from leading documentary film directors (Albert Maysles, Jessica Yu, Leslie Iwerks, Steve James, Alex Gibney, Lixin Fan, Gary Hustwit and others), and a user-generated competition that received over 600 submissions, out of which 20 finalists were chosen.^[236]

Short Films, Big Ideas was launched at the 2011 Toronto International Film Festival in partnership with cinelan. Stories included breakthroughs in Slingshot (water vapor distillation system), cancer research, energy production, pain management and food access. Each of the 30 films received world premiere screenings at a major international film festival, including the Sundance Film Festival and the Tribeca Film Festival. The winning amateur director film, The Cyborg Foundation, was awarded a US$100,000 prize at the 2013 Sundance Film Festival.^[237] According to GE, the campaign garnered more than 1.5 billion total media impressions, 14 million online views, and was seen in 156 countries.^[238]

In January 2017, GE signed an estimated $7 million deal with the Boston Celtics to have its corporate logo put on the NBA team’s jersey.^[239]

Charity[edit]

On March 3, 2022, GE published an international memo pledging to donate $4.5 million to Ukraine amid Russian invasion. According to the memo, $4 million will be used for medical equipment, $400,000 for emergency cash for refugees and $100,000 will go to Airlink, a NGO that helps communities in crisis.^[240]

Political affiliation[edit]

In the 1950s, GE sponsored Ronald Reagan’s TV career and launched him on the lecture circuit. GE has also designed social programs, supported civil rights organizations, and funded minority education programs.^[241]

Notable appearances in media[edit]

In the early 1950s, Kurt Vonnegut was a writer for GE. A number of his novels and stories (notably Cat’s Cradle and Player Piano) refer to the fictional city of Ilium, which appears to be loosely based on Schenectady, New York.^[242] The Ilium Works is the setting for the short story «Deer in the Works».

In 1981, GE won a Clio award for its :30 Soft White Light Bulbs commercial, We Bring Good Things to Life.^[243] The slogan «We Bring Good Things to Life» was created by Phil Dusenberry at the ad agency BBDO.^[244]

GE was the primary focus of a 1991 short subject Academy Award-winning documentary, Deadly Deception: General Electric, Nuclear Weapons, and Our Environment,^[245] that juxtaposed GE’s «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.^[246]

In 2013, GE received a National Jefferson Award for Outstanding Service by a Major Corporation.^[247]

See also[edit]

• GE Technology Infrastructure
• Knolls Atomic Power Laboratory
• List of assets owned by General Electric
• Phoebus cartel
• Top 100 US Federal Contractors

References[edit]

Further reading[edit]

• 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.
• Irmer, Thomas. Gerard Swope. In Immigrant Entrepreneurship: German-American Business Biographies, 1720 to the Present, vol. 4, edited by Jeffrey Fear. German Historical Institute.

External links[edit]

• Official website
• Business data for General Electric:
  • Google
  • SEC filings
  • Yahoo!