Difference between revisions of "General Electric"
(update info) |
|||
| Line 3: | Line 3: | ||
[[Thomas Edison]] established the ''Edison General Electric Company'' in 1890. Edison's company and the Thomson-Houston Company combined in 1892 to form the General Electric of which most Americans knew. | [[Thomas Edison]] established the ''Edison General Electric Company'' in 1890. Edison's company and the Thomson-Houston Company combined in 1892 to form the General Electric of which most Americans knew. | ||
| − | During its heyday, General Electric produced a wide variety of electrical products designed for home use by consumers: lamps and lighting, large appliances (such as stoves, refrigerators, washers, and dryers), and small appliances (such as fans, toasters and toaster ovens, and hair dryers). It produced industrial equipment such as locomotives, aviation engines and parts for both commercial and military customers, and medical equipment such as [[sonogram]]s. It also at one time owned NBC Universal, which operated the [[NBC]] television network, CNBC, MSNBC, the SciFi Channel, USA Network, the Spanish language station [[Telemundo]], and [[Universal Studios]]. | + | During its heyday, General Electric produced a wide variety of electrical products designed for home use by consumers: lamps and lighting, large appliances (such as stoves, refrigerators, washers, and dryers), and small appliances (such as fans, toasters and toaster ovens, and hair dryers). It produced industrial equipment such as locomotives, aviation engines and parts for both commercial and military customers, and medical equipment such as [[sonogram]]s. It also at one time owned NBC Universal, which operated the [[NBC]] television network, CNBC, MSNBC, the SciFi Channel, USA Network, the Spanish language station [[Telemundo]], and [[Universal Studios]]. And, it was a major player in the private finance industry. |
General Electric was the last company listed in the original [[Dow Jones]] Industrial Index of 1896 to be removed from it; in July 2018, GE was replaced by Walgreens Boots Alliance (a pharmacy chain operating in the US and the UK). | General Electric was the last company listed in the original [[Dow Jones]] Industrial Index of 1896 to be removed from it; in July 2018, GE was replaced by Walgreens Boots Alliance (a pharmacy chain operating in the US and the UK). | ||
| Line 9: | Line 9: | ||
==Downfall== | ==Downfall== | ||
The actions of numerous CEOs such as [[Jack Welch]] and [[Jeffrey Immelt]] would ultimately lead to GE's demise. | The actions of numerous CEOs such as [[Jack Welch]] and [[Jeffrey Immelt]] would ultimately lead to GE's demise. | ||
| + | |||
| + | Under both Welch's and Immelt's direction, GE shipped ''tens of thousands'' of good jobs outside the United States.<ref>[http://beforeitsnews.com/story/892/639/GE_CEO_Jeffrey_Immelt,_The_Head_Of_Obama_s_Jobs_Council,_Is_Moving_Jobs_And_Economic_Infrastructure_To_China_At_A_Blistering_Pace.html GE CEO Jeffrey Immelt, The Head Of Obama’s Jobs Council, Is Moving Jobs And Economic Infrastructure To China At A Blistering Pace, BeforeItsNews.com, August 1, 2011]</ref> As Head Of Obama’s Jobs Council, Immelt guaranteed American joblessness would remain at the highest levels. | ||
| + | |||
| + | Eventually, GE would sell its small appliance division to [[Black & Decker]] (known for power tools), its large appliance division to Haier, its legendary lighting business to Savant Systems, a majority stake in NBC Universal to Comcast (and would ultimately sell its minority stake to them as well), and its locomotive manufacturing operations to | ||
==Criticisms== | ==Criticisms== | ||
| − | |||
| − | |||
Immelt was blamed for supplying equipment to [[Iran]] while Iran was funding the deaths of U.S. troops in [[Iraq]]. Iran is on a terror list prohibited from doing business with U.S. companies. | Immelt was blamed for supplying equipment to [[Iran]] while Iran was funding the deaths of U.S. troops in [[Iraq]]. Iran is on a terror list prohibited from doing business with U.S. companies. | ||
Immelt continued to refuse to step down as CEO even as he is responsible for driving down the value of GE's financial holdings.<ref>''[[Jeff Immelt]] slashed thousands of jobs at [[GE]], can he fix the [[U.S.]] [[economy]]?'' [https://www.foxnews.com/on-air/glenn-beck/index.html#/v/4522032/meet-obamas-job-czar/?playlist_id=86917 Meet Obama's Job 'Czar'], FoxNews.com, February 2, 2011.</ref> | Immelt continued to refuse to step down as CEO even as he is responsible for driving down the value of GE's financial holdings.<ref>''[[Jeff Immelt]] slashed thousands of jobs at [[GE]], can he fix the [[U.S.]] [[economy]]?'' [https://www.foxnews.com/on-air/glenn-beck/index.html#/v/4522032/meet-obamas-job-czar/?playlist_id=86917 Meet Obama's Job 'Czar'], FoxNews.com, February 2, 2011.</ref> | ||
| − | + | The MSNBC channel is known for fake news and slander, the [[Air America]] of television. Also, a channel that is a cheerleader for Obama and routinely hides the administration's bad news from the public. MSNBC under Immelt's leadership is pure [[Democrat Media Complex]], partisan driven—propaganda channel. | |
Immelt's General Electric announced that it will use [[embryonic stem cells]] provided by Geron Corporation for the purpose of testing toxic effects of drug treatments.<ref>[https://www.lifesitenews.com/ldn/2009/jul/09070116.html General Electric to Use Embryonic Stem Cells for Testing, Phase Out Lab Rats] Lifesitenews.com, July 1, 2009</ref> | Immelt's General Electric announced that it will use [[embryonic stem cells]] provided by Geron Corporation for the purpose of testing toxic effects of drug treatments.<ref>[https://www.lifesitenews.com/ldn/2009/jul/09070116.html General Electric to Use Embryonic Stem Cells for Testing, Phase Out Lab Rats] Lifesitenews.com, July 1, 2009</ref> | ||
Revision as of 01:46, March 14, 2026
General Electric (GE) was an American conglomerate, which at one time was one of the largest and most important businesses in America.
Thomas Edison established the Edison General Electric Company in 1890. Edison's company and the Thomson-Houston Company combined in 1892 to form the General Electric of which most Americans knew.
During its heyday, General Electric produced a wide variety of electrical products designed for home use by consumers: lamps and lighting, large appliances (such as stoves, refrigerators, washers, and dryers), and small appliances (such as fans, toasters and toaster ovens, and hair dryers). It produced industrial equipment such as locomotives, aviation engines and parts for both commercial and military customers, and medical equipment such as sonograms. It also at one time owned NBC Universal, which operated the NBC television network, CNBC, MSNBC, the SciFi Channel, USA Network, the Spanish language station Telemundo, and Universal Studios. And, it was a major player in the private finance industry.
General Electric was the last company listed in the original Dow Jones Industrial Index of 1896 to be removed from it; in July 2018, GE was replaced by Walgreens Boots Alliance (a pharmacy chain operating in the US and the UK).
Downfall
The actions of numerous CEOs such as Jack Welch and Jeffrey Immelt would ultimately lead to GE's demise.
Under both Welch's and Immelt's direction, GE shipped tens of thousands of good jobs outside the United States.[1] As Head Of Obama’s Jobs Council, Immelt guaranteed American joblessness would remain at the highest levels.
Eventually, GE would sell its small appliance division to Black & Decker (known for power tools), its large appliance division to Haier, its legendary lighting business to Savant Systems, a majority stake in NBC Universal to Comcast (and would ultimately sell its minority stake to them as well), and its locomotive manufacturing operations to
Criticisms
Immelt was blamed for supplying equipment to Iran while Iran was funding the deaths of U.S. troops in Iraq. Iran is on a terror list prohibited from doing business with U.S. companies.
Immelt continued to refuse to step down as CEO even as he is responsible for driving down the value of GE's financial holdings.[2]
The MSNBC channel is known for fake news and slander, the Air America of television. Also, a channel that is a cheerleader for Obama and routinely hides the administration's bad news from the public. MSNBC under Immelt's leadership is pure Democrat Media Complex, partisan driven—propaganda channel.
Immelt's General Electric announced that it will use embryonic stem cells provided by Geron Corporation for the purpose of testing toxic effects of drug treatments.[3]
A book by Henry Paulson says Immelt begged for government bailouts at least four times. Fox Business analyst Cody Willard says that at the same time Immelt was asking for bailouts, he was telling investors that "[w]e [GE] have had no problems with our own commercial paper [loans]." [4] Deceitful financial statements are in direct violation of SEC rules.
See also
References
- ↑ GE CEO Jeffrey Immelt, The Head Of Obama’s Jobs Council, Is Moving Jobs And Economic Infrastructure To China At A Blistering Pace, BeforeItsNews.com, August 1, 2011
- ↑ Jeff Immelt slashed thousands of jobs at GE, can he fix the U.S. economy? Meet Obama's Job 'Czar', FoxNews.com, February 2, 2011.
- ↑ General Electric to Use Embryonic Stem Cells for Testing, Phase Out Lab Rats Lifesitenews.com, July 1, 2009
- ↑ Cody: Prosecute Jeff Immelt, Fox Business, February 13, 2010