Who invented general electric company

It also said that it would sell off its stake in oil services group Baker Hughes, spin off its railroad business, and get rid of its iconic light-bulb division. For the next century, it grew along with the economy. It became a founding member of the Dow in At its height, the global giant was a lender, an appliance maker, a media giant with NBCUniversal , and a healthcare business.

But the financial crisis turned that lucrative business into a liability, and the company hasn't quite recovered since. The companies of this century have no chance of lasting a years — the Facebooks and Googles. This struggling division is known for its natural gas power plants, and also includes steam, nuclear power, and grid services.

GE Renewable Energy utilizes onshore and offshore wind and hydro technologies, along with other technology like concentrated solar power. GE has invested heavily into additive machines, aka, 3-D printers. Blank added that "Flannery is doing one option — because he has no choice — to sell off the pieces. This post was originally published on July 2, , and updated after GE sold its biopharmaceutical business.

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Investors don't seem to care too much, evidently; as of a. EST today, shares are up Oral Histories. First Hand Histories.

Special pages. Recent changes. User assistance Help. Tools What links here. Related changes. Printable version. Permanent link. Page information. Browse properties. View source. Then there's the money. General Electric has been one of the largest, most profitable companies in the U. Its prominence kept GE a part of the Dow Jones Industrial Average until , and its appliance division has made General Electric a fixture literally and figuratively in almost every home both American and worldwide.

General Electric is special, in part, because of its sheer size and influence on the American consumer. That kind of wealth and durability will make any company important. But this country has many old and rich firms. The real impact of GE is cultural. Class A Report. By he had founded several additional firms to market other inventions, so he founded the Edison General Electric Company to bring them all under one tent.

During this era a competing firm emerged called the Thomas-Houston Company. It occupied the same space of electric appliances and technology, and the two firms found increasing overlap in their work and patents.

Thomas Edison stepped down from his leadership role and returned to the company's laboratory. Eight years later the company founded its flagship industrial research laboratory in Schenectady, New York. Mergers would become a key part of General Electric's business model. The company expanded into areas such as radio acquiring RCA , television acquiring NBC and finance acquiring numerous financial firms. In the s and 90s GE focused on acquiring financial and lending services as lucrative, investment-light opportunities.

Over its history the company has been an epicenter for innovations such as laser communication, the modern train engine, television and the microwave oven. Many of GE's modern troubles are a hangover from its hard pivot into financial services.

As the New York Times noted in , following the Great Recession, General Electric made a move to divest itself of most of the company's financial services division. It has steadily sold off the bulk of that unit, but took heavy losses during the years while it did so. The company's public image has taken an increasing beating as well.