April 15, 1892|
Schenectady, New York, U.S.
|Headquarters||Boston, Massachusetts, U.S.|
Jeffrey R. Immelt|
(Chairman & CEO)
|Revenue||US$ 140.39 billion (2015)|
|US$ 8.186 billion (2015)|
|US$ -6.126 billion (2015)|
|Total assets||US$ 493.10 billion (2015)|
|Total equity||US$ 98.300 billion (2015)|
Number of employees
GE Global Research
GE Home & Business Solutions
GE Oil and Gas
General Electric (GE) is an American multinational conglomerate corporation incorporated in New York, and headquartered in Boston, Massachusetts. As of 2016, the company operates through the following segments: Power & Water, Oil and Gas, Aviation, Healthcare, Transportation and Capital which cater to the needs of Financial services, Medical devices, Life Sciences, Pharmaceutical, Automotive, Software Development and Engineering industries.
In 2011, GE ranked among the Fortune 500 as the 68th-largest firm in the U.S. by gross revenue, and the 14th most profitable. As of 2012, the company was listed the fourth-largest in the world among the Forbes Global 2000, further metrics being taken into account. The Nobel Prize has twice been awarded to employees of General Electric: Irving Langmuir in 1932 and Ivar Giaever in 1973.
On January 13, 2016, it was announced that GE will be moving its corporate headquarters to the South Boston Waterfront neighborhood of Boston, Massachusetts. Some of the workers will arrive in the summer of 2016, and the full move will be completed by 2018.
During 1889, Thomas Edison had business interests in many electricity-related companies: 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 the financial arm backed by J.P. Morgan and the Vanderbilt family for Edison's lighting experiments. In 1889, Drexel, Morgan & Co., a company founded by J.P. Morgan and Anthony J. Drexel, financed Edison's research and helped merge those companies under one corporation to form Edison General Electric Company which was incorporated in New York on April 24, 1889. The new company also acquired Sprague Electric Railway & Motor Company in the same year.
At about the same time, Charles Coffin, leading the Thomson-Houston Electric Company, acquired a number of competitors and gained access to their key patents. General Electric was formed through the 1892 merger of Edison General Electric Company of Schenectady, New York, and Thomson-Houston Electric Company of Lynn, Massachusetts, with the support of Drexel, Morgan & Co. Both plants continue to operate under the GE banner to this day. The company 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.
In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average. After 120 years, it is the only one of the original companies still listed on the Dow index, although it has not been on the index continuously.
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. Nela Park is still the headquarters for GE's lighting business.
Owen D. Young, through GE, founded the Radio Corporation of America (RCA) in 1919 to further international radio. GE used RCA as its retail arm for radio sales from 1919, when GE began production, until separation in 1930. RCA quickly grew into an industrial giant in its own right.
In 1927, Ernst Alexanderson of GE made the first demonstration of his television broadcasts at his General Electric Realty Plot home at 1132 Adams Rd, Schenectady, NY. On January 13, 1928, he made what was said to be the first broadcast to the public in the United States 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).
GE's history of working with turbines in the power-generation field gave them the engineering know-how to move into the new field of aircraft turbosuperchargers. Led by Sanford Alexander Moss, GE introduced the first 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, and GE was the world leader in exhaust-driven supercharging when the war started. This experience, in turn, made GE a natural selection to develop the Whittle W.1 jet engine that was demonstrated in the United States in 1941. GE ranked ninth among United States corporations in the value of wartime production contracts. Although their early work with Whittle's designs was later handed to Allison Engine Company, GE Aviation emerged as one of the world's largest engine manufacturers, bypassing the British company, Rolls-Royce plc.
In 2002, GE acquired the windpower assets of Enron during its bankruptcy proceedings. 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. It acquired ScanWind in 2009.
GE had a line of general purpose and special purpose computers. Among them were the GE 200, GE 400, and GE 600 series general purpose computers, the GE 4010, GE 4020, and GE 4060 real time process control computers, the DATANET-30 and Datanet 355 message switching computers (DATANET-30 and 355 were also used as front end processors for GE mainframe computers). A Datanet 500 computer was designed, but never sold.
In 1962, GE started developing its GECOS (later renamed GCOS) operating system, originally for batch processing, but later extended to timesharing and transaction processing. Versions of GCOS are 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 store, dynamic linking, hierarchical file system, and ring-oriented security. Active development of Multics continued until 1985.
It has been said that GE got into computer manufacturing because in the 1950s they were the largest user of computers outside the United States federal government, 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. However, in 1970, GE sold its computer division to Honeywell, exiting the computer manufacturing industry, though it retained its timesharing operations for some years afterwards. GE was a major provider of computer timesharing services, through General Electric Information Services (GEIS, now GXS), offering online computing services that included GEnie. In 2000 when United Technologies Corp. planned to buy Honeywell, GE made a counter-offer that was approved by Honeywell. On July 3, 2001 the European Union issued a statement that "prohibit the proposed acquisition by General Electric Co. of Honeywell Inc.". 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."
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.
Acquisitions and divestments
In 1986, GE reacquired RCA, primarily for the NBC television network (also parent of Telemundo Communications Group). The remainder was sold to various companies, including Bertelsmann (Bertelsmann acquired RCA Records) and Thomson SA which traces its roots to Thomson-Houston, one of the original components of GE.
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 B2B e-Commerce solutions. GE maintains a minority stake in GXS.
In 2004, GE bought 80% of Universal Pictures from Vivendi. Vivendi bought 20% of NBC forming the company NBCUniversal. GE then owned 80% of NBC Universal and Vivendi owned 20%. By January 28, 2011 GE owned 49% and Comcast 51%. On March 19, 2013, Comcast bought GE's shares in NBCU for $16.7 billion.
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 getting its services in customer service, finance, information technology and analytics.
In May 2007, GE acquired Smiths Aerospace for $4.8 billion.
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.
General Electric's Schenectady, New York facilities (including GE's original headquarters) are assigned the ZIP code 12345. (All Schenectady ZIP codes begin with 123, but no others begin with 1234.)
On December 3, 2009, it was announced that NBCUniversal will become a joint venture between GE and cable television operator Comcast. The cable giant will hold a controlling interest in the company, while GE retains a 49% stake and will buy out shares owned by Vivendi.
Vivendi will sell its 20% stake in NBCUniversal to GE for US$5.8 billion. Vivendi will sell 7.66% of NBCUniversal to GE for US$2 billion if the GE/Comcast deal is not completed by September 2010 and then sell the remaining 12.34% stake of NBCUniversal to GE for US$3.8 billion when the deal is completed or to the public via an IPO if the deal is not completed.
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.
In December 2010, for the second time this year (after Dresser acquisition), General Electric Co. bought the oil sector company British Wellstream Holding Plc. an oil pipe maker for 800 million pounds ($1.3 billion).
In April 2011, GE announced it had completed its purchase of John Wood Plc's Well Support Division for $2.8 billion. This acquisition expands the extensive drilling and surface manufacturing and services portfolio of GE Oil and Gas, a division of GE Energy.
GE Capital sold its $2 billion Mexican assets to Santander for $162 million and exit the business in Mexico. Santander will additionally assume the portfolio debts of GE Capital in the country. The transaction was finished in 2011. GE Capital will focus in the core business and will shed its non-core assets.
In October 2012, General Electric Company acquired $7 billion worth of bank deposits from Metlife Inc.
In April 2013, General Electric Co acquired oilfield pump maker Lufkin Industries for $2.98 billion.
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. 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.
It was announced in April 2015 that General Electric 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.
In August 2015, GE's GE Capital agreed to sell its Healthcare Financial Services business to Capital One Financial for USD $9-billion. The transaction involves USD $8.5-billion of loans made to a wide array of sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices.
Also in August, 2015, GE Capital agreed to sell GE Capital Bank's on-line deposit platform to Goldman Sachs Group. Terms of the transaction were not disclosed, but the sale includes USD $8-billion of on-line deposits and another USD $8-billion of brokered certificates of deposit. The sale is part of GE's strategic plan to exit the U.S. banking sector and to free itself from tightening banking regulations. GE also aims to shed its status as a "systematically important financial institution."
In September 2015, GE Capital agreed to sell its transportation-finance unit to Canada's Bank of Montreal. The unit sold has USD $8.7-billion (CAD $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.
In October 2015, activist investor Nelson Peltz's fund Trian bought a $2.5 billion stake in the company.
In January 2016, Haier Group acquired General Electric's appliance division for $5.4 billion.
General Electric went public in 1892 on the New York Stock Exchange. GE is a Dow Jones and S&P 500 component.
Linear GE stock price graph 1962–2013
GE trading volume graph
GE is a multinational conglomerate headquartered in Boston, Massachusetts. Its main offices are located at 30 Rockefeller Plaza at Rockefeller Center in New York City, known now as the Comcast Building. 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 in 1974.
The company describes itself as composed of a number of primary business units or "businesses." Each unit is itself a vast enterprise, many of which would, even as a standalone company, rank in the Fortune 500. The list of GE businesses varies over time as the result of acquisitions, divestitures and reorganizations.
GE's tax return is the largest return filed in the United States; the 2005 return was approximately 24,000 pages when printed out, and 237 megabytes when submitted electronically. The company also "spends more on U.S. lobbying than any other company."
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.," and has set goals for its subsidiaries to lower their greenhouse gas emissions.
On May 21, 2007, GE announced it would sell its GE Plastics division to petrochemicals manufacturer SABIC 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.
Jeffrey Immelt is the chairman of the board and chief executive officer of GE. He was selected by GE's Board of Directors in 2000 to replace Jack Welch following his retirement. Previously, Immelt had headed GE's Medical Systems division (now GE Healthcare) as its President and CEO.
His tenure as the Chairman and CEO started at a time of crisis: he took over the role on September 7, 2001, four days before the terrorist attacks on the United States, which killed two employees and cost GE's insurance business $600 million — and had a direct effect on the company's Aircraft Engines sector. Immelt has also been selected as one of President Obama's financial advisors concerning the economic rescue plan.
GE's primary business divisions include:
- GE Power
- GE Oil & Gas
- GE Renewable Energy
- GE Energy Connections
- GE Aviation
- GE Healthcare
- GE Transportation
- GE Capital
- GE Digital
The former GE Appliances and Lighting segment was dissolved in 2014 when GE's appliance division was sold to Haier for $5.4 billion. GE Lighting (consumer lighting) and the newly created Current, powered by GE (commercial LED, solar, EV, and energy storage), are now stand-alone businesses within the company.
Through these businesses, GE participates in markets that include the generation, transmission and distribution of electricity (e.g. nuclear, gas and solar), lighting, industrial automation, medical imaging equipment, motors, railway locomotives, 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.
Since over half of GE's revenue is derived from financial services, it is arguably a financial company with a manufacturing arm. It is also one of the largest lenders in countries other than the United States, such as Japan. Even though the first wave of conglomerates (such as ITT Corporation, 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.
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.
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.
Corporate recognition and rankings
In 2011, Fortune ranked GE the 6th largest firm in the U.S., and the 14th most profitable. Other rankings for 2011/2012 include the following:
- #18 company for leaders (Fortune)
- #6 best global brand (Interbrand)
- #82 green company (Newsweek)
- #91 most admired company (Fortune)
- #19 most innovative company (Fast Company).
For 2012, GE's brand was valued at $28.8 billion. CEO Jeffrey Immelt had a set of changes in the presentation of the brand commissioned in 2004, after he took the reins as chairman, to unify the diversified businesses of GE.
The changes included a new corporate color palette, small modifications to the GE logo, a new customized font (GE Inspira) and a new slogan, "Imagination at work", composed by David Lucas, to replace the slogan "We Bring Good Things to Life" used since 1979. 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.
Controversies and criticism
The six reactors in the 2011 Fukushima II Nuclear Power Plant catastrophe had been designed by General Electric. Their design had been criticised as far back as 1972.
In March 2011, The New York Times reported that, despite earning $14.2 billion in worldwide profits, including more than $5 billion from U.S. operations, General Electric did not owe taxes in 2010. General Electric had a tax refund of $3.2 billion. This same article also pointed out that GE has reduced its American workforce by one fifth since 2002. The Times also reported that General Electric had been engineering tax reductions starting with the fees paid on its 1892 New York State charter.
In December 2011, the non-partisan organization Public Campaign criticized General Electric for spending $84.35 million on lobbying and not paying any taxes during 2008–2010, instead getting $48.7 billion in tax rebates, despite making a profit of $10.4 billion, laying off 4,168 workers since 2008, and increasing executive pay by 27% to $75.9 million in 2010 for the top 5 executives. Between March 1990 and February 2001, General Electric was fined or ordered to pay damages by a court 420 times, amounting to at least $934,027,215, according to a report from the Multinational Monitor.
GE has a history of some of its activities giving rise to large-scale air and water pollution. Based on year 2000 data, researchers at the Political Economy Research Institute listed the corporation as the fourth-largest corporate producer of air pollution in the United States, with more than 4.4 million pounds per year (2,000 tons) of toxic chemicals released into the air. GE has also been implicated in the creation of toxic waste. According to EPA documents, only the United States Government, Honeywell, and Chevron Corporation are responsible for producing more Superfund toxic waste sites.
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 cleanup of what was claimed to be more than 100,000 tons of chemicals dumped from their plant in Waterford, New York. In 1999, the company agreed to pay a $250 million settlement in connection with claims it polluted the Housatonic River (Pittsfield, Massachusetts) and other sites with polychlorinated biphenyls (PCBs) and other hazardous substances.
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.
The nuclear reactors involved in the 2011 crisis at Fukushima I in Japan are GE designs, and the architectural designs were done by Ebasco, formerly owned by GE. Concerns over the design and safety of these reactors were raised as early as 1972, but tsunami danger was not discussed at that time. As of 2014, the same model nuclear power reactors designed by GE are operating in the US, such as the controversial Pilgrim Nuclear Generating Station, in Plymouth, Massachusetts.
Pollution of the Hudson River
General Electric heavily contaminated the Hudson River with polychlorinated biphenyls (PCBs) between 1947-77. This pollution caused a range of harmful effects to wildlife and people who eat fish from the river or drink the water. In response to this 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. The activism led to the site being designated by the EPA as one of the superfund sites requiring extensive cleanup. Other sources of pollution, including mercury contamination and sewage dumping, have also contributed to problems in the Hudson River watershed.
Pollution of the Housatonic River
From circa 1932 until 1977, General Electric polluted the Housatonic River with PCBs discharges from the General Electric plant at Pittsfield, Massachusetts. Aroclor 1254 and Aroclor 1260, made by Monsanto was the primary contaminant of the pollution. 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. 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 of PCBs. Former filled oxbows are also polluted. Waterfowl and fish who live in and around the river contain significant levels of PCBs and can present health risks if consumed.
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.
In May 2005, GE announced the launch of a program called "Ecomagination," intended, in the words of CEO Jeff Immelt "to develop tomorrow's solutions such as solar energy, hybrid locomotives, fuel cells, lower-emission aircraft engines, lighter and stronger durable materials, efficient lighting, and water purification technology". The announcement prompted an op-ed piece in The New York Times to observe that, "while General Electric's increased emphasis on clean technology will probably result in improved products and benefit its bottom line, Mr. Immelt's credibility as a spokesman on national environmental policy is fatally flawed because of his company's intransigence in cleaning up its own toxic legacy."
GE has said that it will invest $1.4 billion in clean technology research and development in 2008 as part of its Ecomagination initiative. As of October 2008, the scheme had resulted in 70 green products being brought to market, ranging from halogen lamps to biogas engines. In 2007, GE raised the annual revenue target for its Ecomagination initiative from $20 billion in 2010 to $25 billion following positive market response to its new product lines. In 2010, GE continued to raise its investment by adding $10 billion into Ecomagination over the next five years.
GE (General Electric) Energy's renewable energy 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, a Northern Ireland company specializing in advanced monitoring and diagnostics technologies for transformers used in renewable energy generation, and announced an expansion of its business in Northern Ireland in May 2010. In 2009, GE's renewable energy initiatives, which include solar power, wind power and GE Jenbacher gas engines using renewable and non-renewable methane-based gases, employ more than 4,900 people globally and have created more than 10,000 supporting jobs.
GE Energy and Orion New Zealand Limited (Orion) have announced implementation of the first phase of a GE network management system to help improve power reliability for customers. GE's ENMAC Distribution Management System is the foundation of Orion's initiative. The system of smart grid technologies will significantly improve the network company's ability to manage big network emergencies and help it to restore power faster when outages occur.
GE 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. GE has donated over one million dollars of Logiq E Ultrasound equipment to these two institutions.
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 finalist were chosen.
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 at Sundance Film Festival. According to GE, the campaign garnered more than 1.5 billion total media impressions, 14 million online views, and was seen in 156 countries.
GE has faced criminal action regarding its defense related operations. GE was convicted in 1990 of defrauding the US Department of Defense, and again in 1992 on charges of corrupt practices in the sale of jet engines to Israel.
A GE-owned abandoned building resides on Seaview Avenue in Bridgeport, Connecticut. The abandoned property has been cited in crimes that include being used as a hideout for a 72-year-old thief in 2008.
In the 1950s GE sponsored Ronald Reagan's TV career and launched him on the lecture circuit as a crusader against big government. Although it can be argued that GE frequently supported conservative policies, GE's record with designing social programs, supporting civil rights organizations, and funding minority education programs, speaks to their effort to support philanthropic programs and progressive causes.
Notable appearances in media
GE was the primary focus of a 1991 short subject Academy Award-winning documentary, Deadly Deception: General Electric, Nuclear Weapons, and Our Environment, 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.
In the early 1950s Kurt Vonnegut was a writer for General Electric. A number of his novels and stories (notably Cat's Cradle) refer to the fictional city of Ilium, which appears to be loosely based on Schenectady, New York. The Ilium Works is the setting for the short story "Deer in the Works".
The NBC sitcom 30 Rock was set at the NBC Studios in the GE Building at 30 Rockefeller Center (hence the title). All characters in the main cast are NBC (and therefore GE) employees, and one character, Jack Donaghy (Alec Baldwin) is portrayed as having risen through the ranks of GE management to become Vice President of NBC's East Coast operations through the company's microwave oven division.
In 2013, GE received a National Jefferson Award for Outstanding Service by a Major Corporation.
In 1981, GE won a Clio award for its :30 Soft White Light Bulbs commercial, We Bring Good Things to Life. It was produced by Phil Dusenberry at the ad agency BBDO, with director Marty Schultz (aka Mathew Brady), and artist and actor Victor Kalin.
As of 2016, GE had appeared on the Fortune 500 list for 22 years and held the 11th rank.
- Edison Engineering Development Program
- GE Global Research
- GE Technology Infrastructure
- Knolls Atomic Power Laboratory
- List of assets owned by General Electric
- Phoebus cartel
- Top 100 US Federal Contractors
- GE Hitachi Nuclear Energy
- "Certificate of Incorporation". GE. GE. Retrieved January 13, 2016.
- "Fact Sheet". About Us. GE. Retrieved August 1, 2016.
- Vaccaro, Adam (August 22, 2016). "General Electric moves into temporary headquarters in Boston". Boston.com. Retrieved September 21, 2016.
Today GE’s Global Headquarters officially moved to Boston. We’re happy to be here! [Official tweet from GE on August 22, 2016]
- "GENERAL ELECTRIC CO 2015 Annual Report Form (10-K)". EDGAR. United States Securities and Exchange Commission. February 27, 2016. Retrieved 21 December 2015.
- "Company Search, EDGAR System, Securities and Exchange Commission". header. Retrieved December 21, 2015.
- "Fortune 500 2011". Fortune. 2011. Retrieved December 21, 2015.
- "Fortune 20 most profitable companies: IBM". Fortune. 2011. Retrieved December 17, 2010.
- General Electric, Forbes. Retrieved June 16, 2012
- "Heritage of Research". General Electric. Retrieved June 1, 2016.
- "Boston lands new GE headquarters". Boston Globe. Retrieved January 13, 2016.
- Mann, Ted; Kamp, Jon (2016-01-13). "General Electric to Move Headquarters to Boston". The Wall Street Journal. Retrieved 2016-01-13.
- "GE Moves Headquarters to Boston" (Press release). General Electric. January 13, 2016. Retrieved 2016-09-22.
- Arnold, Horace L. "Modern Machine-Shop Economics. Part II" in Engineering Magazine 11. 1896
- "Electricity". A Brief History of Con Edison. Con Edison. Retrieved 3 February 2013.
- "Edison Companies". The Thomas Edison Papers. Rutgers University. Retrieved 3 February 2013.
- "FAQs: How did the firm impact the advent of electricity?". J.P. Morgan. Retrieved 3 February 2013.
- "Thomas Edison & GE". GE company web site. Retrieved December 22, 2009.
- "History of the Dow – Timeline of Companies". Quasimodos.com. January 4, 1984. Retrieved April 23, 2012.
- Mahon, Morgan E. A Flick of the Switch 1930–1950 (Antiques Electronics Supply, 1990), p.86.
- "Ernst Alexanderson". About.com Inventors.
- Whittle, Sir Frank; Golley, John (2010). Gunston, Bill, ed. Jet (illustrated ed.). Datum Publishing. pp. 181–182. ISBN 978-1907472008. Retrieved 2016-01-26.
- Peck, Merton J. & Scherer, Frederic M. The Weapons Acquisition Process: An Economic Analysis (1962) Harvard Business School p.619
- "GE Completes Enron Wind Acquisition; Launches GE Wind Energy". Business Wire. May 10, 2002. Retrieved August 9, 2010.
- Fairly, Peter. The Greening of GE IEEE Spectrum, July 2005. Retrieved: November 6, 2010.
- Arnott, Sarah (March 26, 2010). "GE to build £99m UK wind turbine plant". The Independent. UK. Retrieved December 20, 2010.
- Global Corruption Report 2009, Corruption and the Private Sector Transparency International 2009 page 148 (English) Archived March 20, 2012, at the Wayback Machine.
- Hiner, Jason (November 30, 2012). "GE's $200 million bet to resurrect IT". TechRepublic. Retrieved May 31, 2013.
- Elliott, Michael (July 8, 2001). "The Anatomy of the GE-Honeywell Disaster". TIME. GE-Honeywell-Disaster. Archived from the original on June 27, 2016. Retrieved June 27, 2016.
- "The Commission prohibits GE's acquisition of Honeywell". EU. July 3, 2001. EU-GE-Honeywell. Archived from the original on June 27, 2016. Retrieved June 27, 2016.
- "GE Link smart LED bulb can communicate with smart devices". TechOne3. Retrieved 2014-07-02.
- Murphy, Dennis. GE completes Enron Wind acquisition; Launches GE Wind Energy Desert Sky Wind Farm, May 10, 2002. Retrieved: May 1, 2010.
- "GE Completes Enron Wind Acquisition; Launches GE Wind Energy". Business Wire. 2002-05-10. Retrieved 2010-08-09.
- Lieberman, David. "Comcast Completes Acquisition Of GE's 49% Stake In NBCUniversal." Deadline.com (March 19, 2013)
- Deutsch, Claudia H. (January 16, 2007). "G.E. Buying a British Aerospace Company". The New York Times.
- "General Electric to acquire Vetco Gray for $1.9 billion". ReliablePlant.com. 8 Jan 2007. Retrieved 11 June 2014.
- "GE Oil & Gas buys Vetco Gray". E&P Magazine. 8 Jan 2007. Retrieved 11 June 2014.
- Saitto, Serena; Kingsbury, Kevin (28 Jan 2008). "From Tenaris". MarketWatch.com – The Wall Street Journal. Retrieved 11 June 2014.
- "GE Oil & Gas Buys Hydril Pressure Control". 29 Jan 2008. Retrieved 11 June 2014.
- Goldman, Davis; Pepitone, Julianne (December 3, 2009). "GE, Comcast announce joint NBC deal". CNNMoney.com. Retrieved December 22, 2009.
- "Vivendi to Sell its Stake in NBCUniversal for US$5.8 billion". Vivendi SA. December 3, 2009. Archived from the original on December 6, 2009. Retrieved December 22, 2009.
- "Vivendi To Sell 20% Stake In NBCU To GE For $5.8 Bln". The Wall Street Journal. December 3, 2009. Retrieved December 22, 2009.
- "General Electric to sell stake in Garanti Bank". March 1, 2010. Retrieved March 2, 2010.
- "GE to get its heart tech from Israel". August 1, 2010. Retrieved August 21, 2010.
- "— GE posts sales slump, rattles recovery hopes". Comcast.net. Retrieved April 23, 2012.
- "General Electric in Russia". Retrieved 2014-04-02.
- "GE Acquires Opal Software — Strengthens Smart Grid Software Portfolio". GE. Archived from the original on July 11, 2011. Retrieved October 19, 2010.
- NewsDaily: GE to buy UK oil pipe maker Wellstream for $1.3 billion reuters.com
- Business Wire (March 2, 2011). "Businesswire.com". Businesswire.com. Retrieved April 23, 2012.
- Business Wire (April 26, 2011). "Businesswire.com". Businesswire.com. Retrieved January 15, 2013.
- "GE Capital sells Mexican assets to Santander". Finance News. Retrieved April 23, 2012.
- "GE to invest Rs 300 cr for expansion". 7 June 2012.
- Reuters (25 September 2012). "GE, MetLife tweak terms of deal for $7 bln in bank deposits". Reuters.
- Ernest Scheyder (8 April 2013). "GE to buy oil pump maker Lufkin for nearly $3 billion". Reuters.
- Natalie Huet (24 April 2014). "GE in talks to buy Alstom's power arm". Reuters.
- "Alstom board votes for aquisition [sic] by GE". France News.Net. Retrieved 23 June 2014.
- GE considers sale of Polish unit Bank BPH. Reuters, 15 October 2014
- "General Electric to sell $26.5bn property portfolio". BBC News.
- "GE to sell bulk of finance unit, return up to $90 billion to investors" (Press release). Reuters. 11 April 2015.
- "Capital One to Acquire GE Capital's U.S. Healthcare Finance Unit" (Press release). Capital One Financial. 11 Aug 2015.
- "Goldman Sachs to Acquire GE Capital Bank's on-line deposit platform". Bloomberg News. 13 Aug 2015.
- "BMO News Release BMO Financial to acquire GE Capital's transportation finance business" (Press release). 10 September 2015. Retrieved 2015-09-16.
- "Nelson Peltz's Trian takes $2.5 billion stake in General Electric". Reuters. 5 October 2015.
- "China's Haier buying GE appliance unit for $5.4B". USA TODAY. Retrieved 2016-01-15.
- "GE acquires LM Wind Power". Windpower Monthly. Retrieved 11 October 2016.
- "As G.E. fumes over Connecticut tax hike, New York calls" by Jimmy Vielking, June 8, 2015 Politico NY, http://www.capitalnewyork.com/article/albany/2015/06/8569598/ge-fumes-over-connecticut-tax-hike-new-york-calls Archived August 12, 2015, at the Wayback Machine.
- "IRS e-file Moves Forward; Successfully Executes Electronic Filing of Nation's Largest Tax Return" (Press release). United States Department of the Treasury—Internal Revenue Service. May 31, 2006. Archived from the original on January 15, 2013. Retrieved February 1, 2007.
- Carney, Timothy (2011-04-07) Want to know how GE paid $0 income taxes? Think green., Washington Examiner
- "GE Launches Ecomagination to Develop Environmental Technologies; Company-Wide Focus on Addressing Pressing Challenges" (Press release). General Electric. May 9, 2005. Archived from the original on January 23, 2012. Retrieved January 15, 2007.
- Deutsch, Claudia (May 22, 2007). "General Electric to Sell Plastics Division". The New York Times. Retrieved December 25, 2009.
- "Jeff Immelt, CEO". Company Biography. General Electric. Retrieved December 25, 2009.
- "Fact Sheet". General Electric. Retrieved 21 April 2016.
- "Welcome to Saskrailmuseum.org". Contact Us. September 11, 2008. Retrieved October 3, 2008.
- "VIDEO – General Imaging's blink detection cameras". TG Daily. February 6, 2008. Retrieved April 23, 2012.
- "Westinghouse RIP". The Economist. November 27, 1997. Retrieved 21 April 2016.
- "GE confirms it's exiting appliance business". MSNBC. May 16, 2008. Retrieved December 25, 2009.
- Wason, Eleanor. "GE's planned spin-off signals failed auction". Reuters. Retrieved 21 April 2016.
- "GE putting silicon carbide chip packaging R&D center in Utica". timesunion.com. Retrieved August 20, 2015.
- "GE forms digital unit, says energy management head to retire". Reuters. 2015-09-14. Retrieved 2015-10-05.
- "GE rankings". Ranking the Brands. Retrieved December 17, 2010.
- "Best Global Brands Ranking for 2010". Interbrand. Archived from the original on February 12, 2011. Retrieved February 15, 2011.
- Tara Murphy (January 16, 2003). "GE Drops Its Slogan". Forbes.
- "Bold Monday - independent font foundry of high quality type".
- "Design of G.E.'s Mark 1 Nuclear Reactors Shows Weaknesses". The New York Times. March 15, 2011.
- Kocieniewski, David (March 24, 2011). "G.E.'s Strategies Let It Avoid Taxes Altogether". The New York Times.
- "1892: General Electric Avoids Taxes". The New York Times. October 29, 2014.
- Portero, Ashley. "30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008–2010". International Business Times. Archived from the original on December 26, 2011. Retrieved December 26, 2011.
- "The Case Against GE". multinationalmonitor.org.
- Owens, Carol (January 26, 2016). "Power Shift Part III: Let there be light, then obsolescence". Berkshire Edge. Retrieved 29 January 2016.
- Logan, Tim; Chesto, Jon (April 4, 2016). "Dozens protest GE event downtown". Boston Globe. Retrieved 19 April 2016.
- "Protesters take aim at GE in Boston". Boston Business Journal. April 4, 2016. Retrieved 19 April 2016.
- "Political Economy Research Institute Toxic 100 Corporate Toxics Information Project Technical Notes". Retrieved June 1, 2016.. Retrieved November 9, 2007.
- "Political Economy Research Institute". Web.archive.org. September 27, 2007. Archived from the original on 2007-09-27. Retrieved April 23, 2012.
- EPA Document Lists Firms Tied to Superfund Sites The Center for Public Integrity Archived February 14, 2009, at the Wayback Machine.
- The Region; G.E. Plant Accused Of Water Pollution", The New York Times, January 21, 1983
- GE agrees to $250 million Settlement to Clean Up PCBs in Housatonic River, Department of Justice news release, October 7, 1999
- EPA issues unilateral administrative order to General Electric Company in Rome, Georgia United States Environmental Protection Agency
- "General Electric-designed reactors in Fukushima have 23 sisters in U.S". Openchannel.msnbc.msn.com. Archived from the original on March 20, 2012. Retrieved April 23, 2012.
- "Nuclear Reactor Maps: Fukushima-Daiichi". Nuctrans.org. Archived from the original on January 15, 2013. Retrieved April 23, 2012.
- "Fukushima: Mark 1 Nuclear Reactor Design Caused GE Scientist To Quit In Protest". USA: ABC. March 15, 2011. Retrieved April 23, 2012.
- "Nrc Acknowledges Warnings Consultants Say Susquehanna, 35 Other Reactors Have A Design Flaw.", by Andrew Maykuth, The Philadelphia Inquirer
- "Hudson River PCBs – Background and Site Information". United States Environmental Protection Agency. Retrieved 2007-12-31.
- "National Priorities List Fact Sheets: Hudson River PCBs" (PDF). EPA. Archived from the original (PDF) on December 1, 2007. Retrieved 2007-12-31.
- Harrington, Gerry (2014-01-31). "Movement afoot to name bridge after Pete Seeger". United Press International. Retrieved 2014-02-03.
- Levinton, J.S.; Ochron, S.T.P. (2008). "Temporal and geographic trends in mercury concentrations in muscle tissue in five species of hudson river, USA, fish". Environmental Toxicology and Chemistry. 27 (8): 1691–1697. doi:10.1897/07-438.1. PMID 18266478.
- New York State Department of Environmental Conservation (NYSDEC). Albany, NY. (2007). "Hudson River Estuary Program: Cleaning the river: Improving water quality" (PDF). p. 24. Archived (PDF) from the original on February 27, 2008. Retrieved 2007-12-31.
- U.S. Environmental Protection Agency (EPA). Boston, MA. GE/Housatonic River Site in New England: Site History and Description." 2009-11-12.
- "Understanding PCB Risks at the GE-Pittsfield/Housatonic River Site". US EPA. Retrieved 25 September 2015.
- Gay, Frederick. "Distribution of Polychlorinated Biphenyls in the Housatonic River and Adjacent Aquifer, Massachusetts" (PDF). USGS. Retrieved 25 September 2015.
- "Former Filled Oxbows of the GE-Pittsfield/Housatonic River Site". US EPA. US Environmental Protection Agency. Retrieved 1 October 2015.
- "If I Catch It, Can I Eat It? A Guide to Eating Fish Safely - 2015 Connecticut Fish Consumption Advisory Site" (PDF). Connecticut Department of Public Health. Archived from the original (PDF) on September 7, 2015. Retrieved 28 October 2015.
- "General State-wide Advice for Eating Recreationally Caught Fish and Waterfowl In Massachusetts" (PDF). www.mass.gov. MDPH. Retrieved 28 October 2015.
- "Rest of River of the GE-Pittsfield/Housatonic River Site". Retrieved 25 September 2015.
- Martin LaMonica, CNET. "GE invests in eSolar for combined solar, gas plants." June 6, 2011. Retrieved June 6, 2011.
- Candace Lombardi, CNET. "Solar power carport charges cars in Connecticut." May 26, 2011. Retrieved May 26, 2011.
- "Ecomagination: Inside GE's Power Play". Worldchanging.com. 1999-02-22. Retrieved 2012-04-23.
- "Talking Green, Acting Dirty." The New York Times June 12, 2005
- "GE cleantech sales to top $17 billion this year". Businessgreen.com. October 27, 2008. Retrieved April 23, 2012.
- VentureBeat, Camille Ricketts. "GE Pumps 10B More Into Green Technology R&D." June 24, 2010.
- "GE Energy Acquires Kelman Limited". Renewableenergyworld.com. August 18, 2008. Retrieved April 23, 2012.
- GE to create 104 jobs in Lisburn
- GE's ecomagination™ Certified Clarke Energy Jenbacher Power Plant Commissioned at Australian Coal Mine to Help Reduce Greenhouse Gas Emissions, 2008, http://www.gepower.com, Accessed April 14, 2011
- "GE illustrates broad spectrum of alternative energy projects". Reliableplant.com. Retrieved April 23, 2012.
- Jultrasoundmet.org, A Pilot Study of Comprehensive Ultrasound Education at the Wayne State University School of Medicine
- "Archived copy". Archived from the original on December 2, 2008. Retrieved October 9, 2009.
- Fera, Rae Ann (2013-04-26). "GE TELLS THE STORIES OF THE WORLD'S INNOVATORS WITH "FOCUS FORWARD"". Fast Co.Create.
- Henry, David (August 4, 2009). "SEC Fines GE $150 million for Accounting Misdeeds". Bloomberg BusinessWeek. Retrieved April 23, 2012.
- Stevenson, Richard W. G.E. Guilty Plea in U.S. Aid to Israel, New York Times, July 23, 1992.
- John Burgeson (February 23, 2012). "Brick by brick, massive GE plant is 'deconstructed' – Connecticut Post". Ctpost.com. Retrieved May 31, 2013.
- "Burglary charged in GE building entry". Connecticut Post. February 6, 2008.
- William Greider (1992) Who Will Tell The People. Simon & Schuster. New York NY. p. 336. ISBN 0-671-68891-X.
- "Deadly Deception: General Electric, Nuclear Weapons, and Our Environment". Newday.com. Retrieved April 23, 2012.
- "Nuclear Weaponmakers Campaign – Corporate Accountability International – Challenging Abuse, Protecting People – Think Outside the Bottle – challenging the bottled water industry". Web.archive.org. June 21, 2006. Archived from the original on 2006-06-21. Retrieved April 23, 2012.
- Jefferson Awards Announces Strategic Alliance with the NFL Player Engagement, Charles Fazzino and IvyConnect, While Celebrating 41 Years of Honoring Service to Others. Prweb.com. Retrieved on 2013-08-16.
- 1981 - Commercial - GE/General Electric - Soft White Light Bulbs - We bring good things to life. YouTube. July 18, 2010.
- "General Electric". Fortune 500. 2015. Company Info. Retrieved July 19, 2016.
- 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.
|Wikimedia Commons has media related to General Electric.|