General Electric
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, small appliances such as fans, and hair dryers. It also produced industrial equipment such as locomotives, aviation engines and parts, and medical equipment such as sonograms. It also at one time owned NBC Universal, which operates the NBC television network, CNBC, MSNBC, the SciFi Channel, USA Network, the Spanish language station Telemundo, and Universal Studios.
General Electric was the last company listed in the original Dow Jones Industrial Index of 1896; in July 2018 it 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.
Criticisms
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 guarantees joblessness to remain at the highest levels.
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 continues to refuse to step down as CEO even as he is responsible for driving down the value of GE's financial holdings.[2]
In 2011, Immelt's NBC division has a minority stake of 49% in MSNBC, with Comcast taking majority ownership. 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 has 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 "We [GE] have had no problems with our own commercial paper [loans]." [4] Deceitful financial statements are in direct violation of SEC rules.
See also
- Thomas Edison
- Electricity
- American Inventions
- Category:American Inventions
- Category:British Inventions
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