General Electric is an American conglomerate established in 1892 through the amalgamation of Thomson-Houston Electric Company and Edison General Electric Company. The company has numerous subsidiaries globally and is part of the New York Stock Exchange (NYSE).
Since 2005, General Electric (GE) has been number two in terms of capitalization on the NYSE, behind ExxonMobil however it was the tenth in the world in relation to turnover, according to Forbes (2009). In 1896, General Electric was one of twelve companies that constituted the Dow Jones Industrial Average.
One of its best managers in its long and illuminous history was Jack Welsh, Chief Executive Officer between 1981 to 2001, and was succeeded by Jeffrey Immelt in 2001.
The organization developed a restructuring plan aimed at speeding up growth and an increase in the group’s profitability. In 2005, the company announced an investment of 1.5 billion dollars annually aimed at research on the environment.
As of 2008, General Electric was sub-divided into five segments, comprising GE Energy Infrastructure, GE Technology Infrastructure, GE Capital, GE Consumer & Industrial and NBC Universal.
In 2009, for the very first time in many years, the organization saw its Standard & Poor’s ratings shift from AAA to AA-, which translated to higher financing costs for projects GE embarks on. But during that period the American giant, held up to forty-eight billion in capital.
Some of General Electric operational activities involve financial services, manufacturing and infrastructure equipment (such as aircraft engines). The manufacturing of household goods and industrial equipment (such as cameras, PLCs, gas sensors etc), medical equipment manufacturing, and broadcast TV channels (8.9% of total sales, NBC Universal). In addition, the group develops publishing accessories and distribution of videotapes and DVDs.
GE Infrastructure Technologies specializes in services and financing solutions in the areas of transport, energy, oil and water. GE Commercial Finance provides financing solutions to businesses. GE Money provides financial solutions for individuals, which include consumer credit, financing, real estate finance, consolidation loans, and finance for small to medium enterprises.
General Electric’s brand value is enhanced by its ownership of the domain ge.com, the entity is one of the few global companies that have their initial two-letter internet addresses. The brand is further boosted by the fact that GE also serves as the company’s symbol on the New York Stock Exchange.
The list of General Electric businesses regularly changes, thanks to ongoing acquisitions and reorganizations, which are aimed at enhancing the conglomerate’s efficiency and competitiveness.