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Apr 2, 2024 · Years of sales and spinoff at General Electric reached their completion Tuesday as what was left of the company was split into two separate firms, GE Aerospace, which builds jet engines, and GE...
- GE and The Birth of American Innovation
- 'Neutron Jack' Welch Takes Over
- GE in Crisis
- 2017-2019: GE Tries to Weather The Storm
- Covid-19 Impact
- GE Splits Into Three
- The Bottom Line
When most Americans think “GE,” they probably think about light bulbs, televisions, and washing machines. GE was born out of the race to provide affordable light and electricity to fuel the growth of industrial America. It quickly became a household name after incorporating in 1892 as a result of a merger between the Thomson-Houston Company and Tho...
In two decades, beginning in 1981 under former chemical engineer Jack Welch, GE acquired RCA and NBC and expanded into the financial services sector. During his first four years as chief executive, Welch aggressively moved to streamline GE, divesting 117 business units and slashing more than a quarter of the company's jobs. The job cuts earned him ...
The 2008 financial crisishit GE hard, with its stock dropping 42% that year. GE had been clearly overstretched and bloated in the eight years since Welch’s departure. Losses by the GE Capital financial segment nearly sank the company during the Great Recession. Warren Buffett stepped in with a preferred investment, lending his reputation to GE’s op...
As GE commemorated its 125th anniversary in 2017, there was little to celebrate. In January 2017, the company announced it would cut 12,000 jobs, and the stock fell 45% over the course of the year. In November 2017, GE unveiled a broad restructuring and halved its quarterly dividend from 24 cents to 12 cents a share.In December 2018, the company cu...
The arrival of the pandemic cut short the rebound in GE's share price. On May 15, 2020, the stock fell to $43.92, a 28-year low. GE's aviation unit was especially hit hard. The business segment makes airplane engines for Boeing (BA) and Airbus, and had been GE's most profitable unit. For example, in 2019, the aircraft engines business generated $32...
In November 2021, GE said it planned to split into three independent public companies: one comprising the company's aviation business, one the medical equipment unit, and the third the power and energy business.In April 2024, GE officially broke up into three separate companies, marking the end of the industrial giant. Each newly independent compan...
Despite GE’s well-publicized decline, it remains a force in its three main business sectors, employing hundreds of thousands of people worldwide.However, its former size didn't work in GE's favor. GE peaked in 2000, just as Jack Welch was retiring, and would never again match its stock price that year. In 2024, the company split into three, each fo...
Nov 10, 2021 · Larry Culp finally pulled the plug on General Electric (NYSE:GE) stock, killing the 129-year old conglomerate that created the industrial age.
- Dana Blankenhorn
Apr 2, 2024 · CHICAGO, April 2 (Reuters) - General Electric (GE.N) on Tuesday completed its breakup into three companies, marking the end of the 132-year-old conglomerate that was once the most valuable U.S....
Jan 30, 2019 · General Electric announced it will split into three separate companies in a stunning breakup. In 2019, we charted the rise and fall of this onetime icon of American industry
Apr 4, 2024 · General Electric was an icon of American innovation and manufacturing for most of its history. The company reached its peak in 2000, but had a rocky journey entering the 21st century.
Mar 19, 2018 · What happened to General Electric? For much of its 128-year history, GE was a quintessential American company. It produced the iconic incandescent bulb, the first commercial power station, the...
