General Electric
Line
- Jeffrey R. Immelt, CEO
- Keith S. Sherin, CFO
- Gary M. Reiner, CIO
General Electric (GE, General Electric Company) is one of the largest conglomerates in the world. The headquarters for decades in Schenectady, New York, located since 1974 in Fairfield, Connecticut, United States.
- 4.1 2004
- 4.2 2005
- 4.3 2006
- 4.4 2007
- 4.5 2008
- 4.6 2009
- 4.7 2011
- 4.8 2013
History
After moving into his laboratory in Menlo Park, New Jersey, in the year 1876 was Thomas Alva Edison in 1879 his most famous invention, the light bulb, patented. 1881 Edison presented his invention at the Paris World's Fair, where he so delighted the German Emil Rathenau, that it acquired the licenses for Edison's patents for the German market in 1883 with the German Edison Company, the production of light bulbs in Berlin recorded .. 1887 named the company into General Electric Company and became known as AEG.
In 1890, Edison founded in the U.S., the Edison General Electric Company to combine its various companies under one roof. In 1892 it was combined with the then-largest competitor, the Thomson - Houston Company of Elihu Thomson and Edwin James Houston, the General Electric Company, headquartered in Schenectady, New York. CEO of GE was Charles A. Coffin, who was director of Thomson - Houston by then. He led the new company's first 20 years.
GE was one of the twelve companies that were listed in the 1896 newly introduced Dow Jones index and the only one of the first twelve, which has survived to this day in the index.
1913 presented GE, named after its inventor, William David Coolidge Coolidge X-ray tube and thus laid the foundation stone for the GE Healthcare sector.
The history of the Aviation Division began in 1917, when the U.S. government was developing the first aircraft engine.
The Group has also worked in the media business and in 1919 was one of the founders of Radio Corporation of America (RCA), which manufactured radios and the 1926 NBC built. Two years later, the first regular television programs were broadcast, and indeed from the former GE headquarters in Schenectady, New York. The retreat from the media business began in 2009, when the company fired the majority of NBC to Comcast. In February 2013, the industrial conglomerate General Electric has sold its remaining interest in the television NBCUniversal to the U.S. company Comcast.
The traces of the division GE Capital lead back in the thirties, as a proprietary consumer finance company supported the purchase of General Electric household appliances. In the sixties, GE Capital gave to this branch, specializing in corporate customers in the markets for consumer, commercial and industrial goods.
Today, GE is a modern conglomerate, offering innovative solutions for energy, health, finance and transport solutions and initiatives to promote growth and cost reduction as ecomagination and healthymagination operates. GE is one of the largest private employers in the world and employs more than 300,000 people in over 100 countries worldwide, including 80,000 in Europe. The turnover in 2012 amounted to 147.4 billion U.S. dollars with a profit of 16.1 billion U.S. dollars. Between 2001 and 2005, GE was by market capitalization, according to the Financial Times Global 500 list of the most expensive companies in the world.
A notable figure in the history of the company was Jack Welch, who was at the helm of GE from 1981 to 2001. Since 2001, Jeffrey R. Immelt directs the group.
GE in Germany
In Germany GE is represented at more than 70 locations and approximately 7,500 employees. Focuses on green technology, medical technology, research and development and financial services.
On 28 June 2004, GE opened one of the world's five research centers in Garching near Munich. The European Research Center was opened on the research and university campus in Garching. The modern complex employs 12,000 square meters, a 200 -strong team of researchers and staff from over 30 countries. Since its founding in 2004, GE has invested around 100 million euros in infrastructure and research in Munich and expanded its laboratory space today by 50 percent.
GE Global Research Europe is working to develop new technologies for all GE businesses. Research focus is currently on inter alia renewables and energy systems, drive technology, manufacturing methods for composite materials, instrumentation and control engineering, turbomachinery and imaging for medical diagnostics. Worldwide, 3,000 employees of GE Global Research in Niskayuna research centers in New York, Bangalore, India, Shanghai, China, Munich and Rio de Janeiro operating in Brazil.
"We are the GE in Germany" - with this slogan launched a Germany -wide campaign, which since then advertises on TV, in magazines and newspapers and on billboards and online for GE in September 2011.
Business
GE in Germany includes the following sections:
Energy
GE Power & Water
- Renewables
- Jenbacher gas engines Austria
- Water
- Gas Turbines
GE Oil & Gas
- Measurement & Control
- Pipeline Solutions
GE Energy Management
- Digital Energy
- Industrial Solutions
- Power Conversion
- Intelligent Platforms
GE Capital
- Factoring and Structured Finance
- Vehicle leasing and fleet management
- Property, sales and purchase financing
- GE Capital Direct - investments for private clients
- GE Capital Aviation Services
- GE Capital Real Estate
- GE Energy Financial Services
Acquisitions and disposals
General Electric is taking around 400 mergers and acquisitions per year. The following are some of the last years are enumerated.
2004
- Entertainment division of Vivendi Universal. Creating one of the largest media corporations in the world, NBC Universal
- Acquisition Allbank AG in Germany, the merger of GE Money Bank
- Credit card division of U.S. financial services Dillard for $ 1.25 billion
- Mortgage insurance company Genworth Financial ( based in Richmond, Virginia)
- November 15: Purchase of the security systems business of SPX Edwards for $ 1.4 billion
- November 24: buying the water treatment company Ionics for $ 1.1 billion
2005
2006
- June: Buy American electronics company SBS Technologies ( about 120 jobs in Germany )
- October 10: Purchase of German Leasing Companies DISCO and the ASL
- December: Department of English electronics company Radstone
2007
- August: sale of the plastics division of GE Plastics to SABIC; the proceeds of $ 11.6 billion to be used for share repurchases.
2008
- March sale of GE Money Germany, Austria and Finland to Banco Santander.
- February: Purchase of Whatman plc.
2009
- December: General Electric announces the sale of 51% stake in NBC Universal to cable operator Comcast. The total value of the transaction is approximately 30 billion U.S. dollars. GE will receive 6.5 billion Us dollars in cash, and keep 49% of NBC.
2011
- September: General Electric completes the acquisition of Converteam.
2013
- February: General Electric sold its remaining interest in the television NBCUniversal to the U.S. company Comcast
The GE brand
The GE brand is with an estimated value of 46.9 billion U.S. dollars, the sixth most valuable brand in the world (as of 2013). In 2004, the logo was changed slightly, the slogan "we bring good things to life" was replaced by " imagination at work ", and its own font, GE Inspira, has been developed. This font is usually used as lowercase.
CEO since the company's founding
Other personalities
- Sigmund Meyer (1873-1935), later the electric car pioneer was three years at General Electric.
Competitors
In virtually all areas (eg, power plant technology and wind energy, medical devices, appliances or bulbs) GE meets internationally strong opposition, especially by European companies Siemens, Philips and Alstom, the U.S. company Emerson, as well as major Japanese companies such as Hitachi or Mitsubishi.
In the field of jet engines, Pratt & Whitney and Rolls- Royce are the main competitors being cooperates with the former on some business areas.