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General Electric Company (GE) is an American Multinational corporation, multinational Conglomerate (company), conglomerate founded in 1892, and incorporated in New York (state), New York state and headquartered in Boston. The company operated in sectors including GE Healthcare, healthcare, GE Aviation, aviation, GE Power, power, GE Renewable Energy, renewable energy, GE Digital, digital industry, additive manufacturing and GE Capital, venture capital and finance, but has since divested from several areas, now primarily consisting of the first four segments. In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize. On November 9, 2021, the company anno ...
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Schenectady, New York
Schenectady () is a city in Schenectady County, New York, United States, of which it is the county seat. As of the 2020 census, the city's population of 67,047 made it the state's ninth-largest city by population. The city is in eastern New York, near the confluence of the Mohawk and Hudson rivers. It is in the same metropolitan area as the state capital, Albany, which is about southeast. Schenectady was founded on the south side of the Mohawk River by Dutch colonists in the 17th century, many of whom came from the Albany area. The name "Schenectady" is derived from the Mohawk word ''skahnéhtati'', meaning "beyond the pines" and used for the area around Albany, New York. Residents of the new village developed farms on strip plots along the river. Connected to the west by the Mohawk River and Erie Canal, Schenectady developed rapidly in the 19th century as part of the Mohawk Valley trade, manufacturing, and transportation corridor. By 1824, more people worked in manufac ...
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Boston
Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- most populous city in the country. The city boundaries encompass an area of about and a population of 675,647 as of 2020. It is the seat of Suffolk County (although the county government was disbanded on July 1, 1999). The city is the economic and cultural anchor of a substantially larger metropolitan area known as Greater Boston, a metropolitan statistical area (MSA) home to a census-estimated 4.8 million people in 2016 and ranking as the tenth-largest MSA in the country. A broader combined statistical area (CSA), generally corresponding to the commuting area and including Providence, Rhode Island, is home to approximately 8.2 million people, making it the sixth most populous in the United States. Boston is one of the oldest ...
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Fortune (magazine)
''Fortune'' is an American multinational corporation, multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with ''Forbes'' and ''Bloomberg Businessweek'' in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the Fortune 500, ''Fortune'' 500, a ranking of companies by revenue that it has published annually since 1955. The magazine is also known for its annual ''Fortune Investor's Guide''. History ''Fortune'' was founded by ''Time (magazine), Time'' magazine co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization". Briton Hadden, Luce's business partner, was not enthu ...
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New York (state)
New York, officially the State of New York, is a state in the Northeastern United States. It is often called New York State to distinguish it from its largest city, New York City. With a total area of , New York is the 27th-largest U.S. state by area. With 20.2 million people, it is the fourth-most-populous state in the United States as of 2021, with approximately 44% living in New York City, including 25% of the state's population within Brooklyn and Queens, and another 15% on the remainder of Long Island, the most populous island in the United States. The state is bordered by New Jersey and Pennsylvania to the south, and Connecticut, Massachusetts, and Vermont to the east; it has a maritime border with Rhode Island, east of Long Island, as well as an international border with the Canadian provinces of Quebec to the north and Ontario to the northwest. New York City (NYC) is the most populous city in the United States, and around two-thirds of the state's popul ...
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GE Renewable Energy
GE Renewable Energy is an American wind turbine manufacturer division of General Electric headquartered in Boulogne-Billancourt, Greater Paris, France focusing on production of energy from renewable sources. Its portfolio of products includes wind ( onshore and offshore), hydroelectric and solar ( concentrated and photovoltaic) power generating solutions. It is the world’s largest wind turbine manufacturer. History GE Renewable Energy was created in 2015, combining the wind power assets GE purchased from Alstom with those previously owned by GE and operated under the Power & Water division. Upon the division's creation, the headquarters of GE Renewable Energy moved from Schenectady, New York to Paris, France, part of conditions for the Alstom purchase. Sub-Divisions Wind GE Wind Energy was formed out of the assets of Enron Wind purchased in 2002, and subsequently expanded with the purchase of ScanWind in 2009. GE Wind Energy expanded into offshore wind energy with the ...
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GE Capital
GE Capital is the financial services division of General Electric. The company currently only runs one division, GE Energy Financial Services. It had provided additional services in the past; however, those units were sold between 2013 and 2018. Overview On July 8, 2013, the Financial Stability Oversight Council designated GE Capital as a " systemically important financial institution", which makes it subject to oversight by the Federal Reserve. In 2014, GE Capital had 35,000+ employees worldwide, operating in more than 40 countries, with total assets of US$499 billion. It was rated AA+ with stable outlook by S&P in 2012. GE Capital's subsidiaries also operated under the GE Money brand. Restructuring plan On April 10, 2015, Jeffrey R. Immelt, the CEO of General Electric, announced that GE would sell most of GE Capital over the next two years. The following areas were sold: *GE Capital Sponsor Finance was sold to Canada Pension Plan Investment Board and Sumitomo Mitsui Bank ...
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Gross Revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees. This definition is based on IAS 18. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, Company X had revenue of $42 million". Profits or net income generally imply total revenue minus total expenses in a given period. In accounting, in the balance statement, revenue is a subsection of the Equity section and revenue increases equity, it is often referred to as the "top line" due to its position on the income statement at the very top. This is to be contrasted with the "bottom line" which denotes net income (gross revenues minus total expenses). In general usage, revenue is the total amount of income by the ...
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Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along with privately held companies for which revenues are publicly available. The concept of the ''Fortune'' 500 was created by Edgar P. Smith, a ''Fortune'' editor, and the first list was published in 1955. The ''Fortune'' 500 is more commonly used than its subset ''Fortune'' 100 or superset ''Fortune'' 1000. History The ''Fortune'' 500, created by Edgar P. Smith, was first published in 1955. The original top ten companies were General Motors, Jersey Standard, U.S. Steel, General Electric, Esmark, Chrysler, Armour, Gulf Oil, Mobil, and DuPont. Methodology The original ''Fortune'' 500 was limited to companies whose revenues were derived from manufacturing, mining, and energy exploration. At the same time, ''Fortune'' published compani ...
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The Boston Globe
''The Boston Globe'' is an American daily newspaper founded and based in Boston, Massachusetts. The newspaper has won a total of 27 Pulitzer Prizes, and has a total circulation of close to 300,000 print and digital subscribers. ''The Boston Globe'' is the oldest and largest daily newspaper in Boston. Founded in 1872, the paper was mainly controlled by Irish Catholic interests before being sold to Charles H. Taylor and his family. After being privately held until 1973, it was sold to ''The New York Times'' in 1993 for $1.1billion, making it one of the most expensive print purchases in U.S. history. The newspaper was purchased in 2013 by Boston Red Sox and Liverpool owner John W. Henry for $70million from The New York Times Company, having lost over 90% of its value in 20 years. The newspaper has been noted as "one of the nation's most prestigious papers." In 1967, ''The Boston Globe'' became the first major paper in the U.S. to come out against the Vietnam War. The paper's 2002 c ...
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Additive Manufacturing
3D printing or additive manufacturing is the construction of a three-dimensional object from a CAD model or a digital 3D model. It can be done in a variety of processes in which material is deposited, joined or solidified under computer control, with material being added together (such as plastics, liquids or powder grains being fused), typically layer by layer. In the 1980s, 3D printing techniques were considered suitable only for the production of functional or aesthetic prototypes, and a more appropriate term for it at the time was rapid prototyping. , the precision, repeatability, and material range of 3D printing have increased to the point that some 3D printing processes are considered viable as an industrial-production technology, whereby the term ''additive manufacturing'' can be used synonymously with ''3D printing''. One of the key advantages of 3D printing is the ability to produce very complex shapes or geometries that would be otherwise impossible to construct ...
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GE Healthcare
GE HealthCare is a subsidiary of American multinational conglomerate General Electric incorporated in New York and headquartered in Chicago, Illinois. As of 2017, it is a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals for imaging modalities used in medical imaging procedures. It offers dyes used in magnetic-resonance-imaging procedures; manufactures medical diagnostic equipment, including CT image machines; MRI, XRAY; Ultrasound; Cath Labs; Mamogram; Nuclear Medicine Cameres; and develops Health technology for medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery, and biopharmaceutical manufacturing. It was incorporated in 1994 and operates in more than 100 countries. On November 9, 2021, General Electric announced it would demerge into three investment-grade public companies, GE HealthCare being one of the three planned divestitures. The spin-off of GE HealthCare is ...
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Multinational Corporation
A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC, to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad simply to diversify financial risks. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation "if it derives 25% or more of its revenue from out-of-home-country operations". Most of the largest and most influential companies of the modern age are publicly traded multinational corporations, including '' Forbes Global 2000'' companies. History Colonialism Th ...
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