General Electric (GE) is one of the most recognizable conglomerates in the United States, and is a pioneer of modern technology. General Electric has been responsible for innovations from Thomas Edison's creation of the light-bulb and electric light, to experimental television broadcasts and gas tur Contact online >>
General Electric (GE) is one of the most recognizable conglomerates in the United States, and is a pioneer of modern technology. General Electric has been responsible for innovations from Thomas Edison''s creation of the light-bulb and electric light, to experimental television broadcasts and gas turbines.
General Electric has been at the forefront of virtually every major technological development since its inception, and has been one of the major companies in the aviation industry since the Second World War.
General Electric, most popularly known by its initials GE, is an American based, multinational company that has operated for over 125 years. It was founded in 1889 by Thomas A. Edison, who is regarded as being America''s greatest inventor and is responsible for creations such as the lightbulb and the first industrial research facility in the United States. General Electric''s mission statement is to "rise to the challenge of building a world that works".
General Electric had previously owned a majority stake in the TV network NBCUniversal before selling their stake to Comcast in 2011. General Electric has been at the forefront of innovate technology since its inception, and "invented the future of industry" within aviation, healthcare and power.
GE locations can be found across the United States, and the headquarters of General Electric are in Boston, Massachusetts in the United States. General Electric previously had their headquarters at Fairfield, Connecticut, before moving to Boston in 2016.
General Electric''s headquarters in Boston can be contacted at +001 877 394 9775. GE''s website includes an extensive contact us to direct your inquiry to the correct department within GE''s corporate division.
General Electric began in 1889 as the ''Edison General Electric Company'', which was the result of a merger between Drexel, Morgan & Co and several electricity companies that Thomas A. Edison had interests in. Thomas A. Edison, is considered to be America''s greatest inventor, having created over 1,000 patents for his inventions, including such creations as the the phonograph, the lightbulb and the carbon microphone.
''General Electric'' as it is known today was formed after the 1892 merger of the ''Edison General Electric Company'', and the ''Thomson-Houston Electric Company'' with the backing of Drexel, Morgan & Co. General Electric was incorporated in New York, with the plant in Schenectady County in New York acting as the company''s headquarters. General Electric grew along with the boom of industrial America in the early 1900s.
During the 50s, General Electric became involved in commercial nuclear power and in the 70s began developing medical devices which has continued through the present day. In 2000, it created the first 4-D high-res ultrasound machine for women''s health.
Always at the forefront of innovation, General Electric has been involved with the broadcasting industry since 1926, when its company Radio Corporation of America founded NBC. For several decades there was a period of absence for General Electric from NBC before it was bought by GE in 1986 under the leadership of CEO Jack Welch. The network enjoyed success throughout the 1990s but they failed to capitalise on the reality television boom and GE later sold NBC/Universal to Comcast in 2009 in a deal worth $30 billion.
General Electric''s fortunates turned following Jack Welch''s retirement as CEO after he turned the company from a market value of $12 billion in 1981 to $410 billion at its peak, and it suffered greatly as a result of the 2008 financial crisis. In 2008, GE stocks fell 42% and GE Capital virtually collapsed, and is still yet to fully recover. As a result, Welch''s replacement as CEO, Jeffrey R. Immelt sold off several GE assets including NBCUniversal and brought GE back to its manufacturing roots and away from the financial service industry.
General Electric''s current CEO is H. Lawrence Culp Jr, who became the company''s CEO in October 2018 and has begun to take GE through a multi-year turnaround. Out of the other ten previous CEOs, the most notable was Jack Welch, who held the position between 1981 and 2001. During Welch''s tender, the market value of GE accelerated from $12 billion in 1981 to a record $410 billion before his retirement.
Product development is their key business strategy, as seen in their renewable energy segment, where they have successful dominated the hydroelectric power industry globally with a 25% share of the hydro-electric power systems that have been installed globally.
General Electric makes it profit through its five segments, which amounted to $95 billion USD of profit in 2019, with the majority coming from their power and aviation divisions. GE is a major contractor for the United States military and claims to power more than two-thirds of US military fights and helicopters, and GE have been involved with providing aviation development to the U.S. military since World War Two.
In 2019''s third quarter, GE''s power segment''s revenue was reported as $3.9 billion. While this is a decline of 14% year-on-year, the power division of GE is at the heart of a multi-year turnaround plan within the General Electric company.
The aviation segment in GE is one of their fastest-growing divisions, with revenue increasing by 8% in 2019''s third quarter, amounting to $8.1 billion. The primary driver of this success was the sales in GE''s LEAP unit, with 455 commercial jet engine sold in that quarter, an increase of almost 300% from the previous year. Increased productivity has resulted in the average assembly time for engines being reduced by 36% through the use of digital enhancements.
GE locations within their healthcare division are spread out globally across five continents. It is another of the better performing GE divisions, with revenue of $4.9 billion in 2019''s third quarter, an increase of 5% from the same quarter in 2019.
An area of increasing growth within General Electric, their renewable energy division saw its revenue hit $4.4 billion, up 13% over the year. In 2019''s third quarter, GE reported a 30% increase in orders within their renewable energy division.
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