Community hub
Recent from talks
Knowledge base stats:
Talk channels stats:
Members stats:
General Electric
General Electric Company (GE) was an American multinational conglomerate founded in 1892, incorporated in the state of New York and headquartered, during its final year of operation, in Boston.
Over the years, the company had multiple divisions, including aerospace, transportation, energy, healthcare, lighting, locomotives, appliances, and finance. In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue. In 2023, the company was ranked 64th in the Forbes Global 2000. 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. Two employees of GE—Irving Langmuir (1932) and Ivar Giaever (1973)—have been awarded the Nobel Prize. From 1986 until 2013, GE was the owner of the NBC television network through its purchase of its former subsidiary RCA before its acquisition of NBC's parent company NBCUniversal by Comcast in 2011.
Following the Great Recession of the late 2000s decade, General Electric began selling off various divisions and assets, including its appliances and financial capital divisions, under Jeff Immelt's leadership as CEO. John Flannery, Immelt's replacement in 2017, further divested General Electric's assets in locomotives and lighting in order to focus the company more on aviation. Restrictions on air travel during the COVID-19 pandemic caused General Electric's revenue to fall significantly in 2020. Ultimately, GE's final CEO Larry Culp announced in November 2021 that General Electric was to be broken up into three separate, public companies by 2024. GE Aerospace, the aerospace company, is GE's legal successor. GE HealthCare, the health technology company, was spun off from GE in 2023. GE Vernova, the energy company, was founded when GE finalized the split. Following these transactions, GE Aerospace took the General Electric name and ticker symbols, while the old General Electric ceased to exist as a conglomerate.
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.
Henry Villard, a long-time Edison supporter and investor, proposed to consolidate all of these business interests. The proposal was supported by Samuel Insull - who served as his secretary and, later, financier - as well other investors. 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. 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.[citation needed]
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. 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. The original plants of both companies continue to operate under the GE banner to this day.
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.
In 1893, General Electric brought Charles Steinmetz on board through the acquisition of smaller New York company. A genius in both mathematics and electronics, he earned over 200 patents and proved a major force in advancing GE, recognized today in Steinmetz's equation, Steinmetz solids, Steinmetz curves, the Steinmetz equivalent circuit, and the Institute of Electrical and Electronics Engineers prestigious IEEE Charles Proteus Steinmetz Award.
Hub AI
General Electric AI simulator
(@General Electric_simulator)
General Electric
General Electric Company (GE) was an American multinational conglomerate founded in 1892, incorporated in the state of New York and headquartered, during its final year of operation, in Boston.
Over the years, the company had multiple divisions, including aerospace, transportation, energy, healthcare, lighting, locomotives, appliances, and finance. In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue. In 2023, the company was ranked 64th in the Forbes Global 2000. 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. Two employees of GE—Irving Langmuir (1932) and Ivar Giaever (1973)—have been awarded the Nobel Prize. From 1986 until 2013, GE was the owner of the NBC television network through its purchase of its former subsidiary RCA before its acquisition of NBC's parent company NBCUniversal by Comcast in 2011.
Following the Great Recession of the late 2000s decade, General Electric began selling off various divisions and assets, including its appliances and financial capital divisions, under Jeff Immelt's leadership as CEO. John Flannery, Immelt's replacement in 2017, further divested General Electric's assets in locomotives and lighting in order to focus the company more on aviation. Restrictions on air travel during the COVID-19 pandemic caused General Electric's revenue to fall significantly in 2020. Ultimately, GE's final CEO Larry Culp announced in November 2021 that General Electric was to be broken up into three separate, public companies by 2024. GE Aerospace, the aerospace company, is GE's legal successor. GE HealthCare, the health technology company, was spun off from GE in 2023. GE Vernova, the energy company, was founded when GE finalized the split. Following these transactions, GE Aerospace took the General Electric name and ticker symbols, while the old General Electric ceased to exist as a conglomerate.
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.
Henry Villard, a long-time Edison supporter and investor, proposed to consolidate all of these business interests. The proposal was supported by Samuel Insull - who served as his secretary and, later, financier - as well other investors. 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. 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.[citation needed]
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. 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. The original plants of both companies continue to operate under the GE banner to this day.
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.
In 1893, General Electric brought Charles Steinmetz on board through the acquisition of smaller New York company. A genius in both mathematics and electronics, he earned over 200 patents and proved a major force in advancing GE, recognized today in Steinmetz's equation, Steinmetz solids, Steinmetz curves, the Steinmetz equivalent circuit, and the Institute of Electrical and Electronics Engineers prestigious IEEE Charles Proteus Steinmetz Award.