In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market as its profitability collapsed.
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39 Facts About GE
2.
The first spin-off of GE HealthCare is planned for 2023, to be followed by the spin-off of the energy division GE Vernova in 2024.
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3.
GE was incorporated in New York, with the Schenectady plant used as headquarters for many years thereafter.
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5.
Owen D Young, through GE, founded the Radio Corporation of America in 1919, after purchasing the Marconi Wireless Telegraph Company of America.
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6.
GE was ranked ninth among United States corporations in the value of wartime production contracts.
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7.
In 2002, GE acquired the wind power assets of Enron during its bankruptcy proceedings.
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9.
In 2018, GE Power garnered press attention when a model 7HA gas turbine in Texas was shut down for two months due to the break of a turbine blade.
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11.
However, in 1970, GE sold its computer division to Honeywell, exiting the computer manufacturing industry, though it retained its timesharing operations for some years afterwards.
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12.
The reasons given were it "would create or strengthen dominant positions on several markets and that the remedies proposed by GE were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell".
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14.
In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business.
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15.
In March 2011, GE announced that it had completed the acquisition of privately held Lineage Power Holdings from The Gores Group.
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16.
In October 2014, GE announced it was considering the sale of its Polish banking business Bank BPH.
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17.
Also in August 2015, GE Capital agreed to sell GE Capital Bank's on-line deposit platform to Goldman Sachs.
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18.
GE aimed to shed its status as a "systematically important financial institution".
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19.
In September 2015, GE Capital agreed to sell its transportation-finance unit to Canada's Bank of Montreal.
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20.
In September 2017, GE announced the sale of its Industrial Solutions Business to ABB.
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21.
GE reported the total liability related to its insurance contracts increased significantly from 2016 to 2019:.
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22.
In 2018, GE announced the issuance of the new standard by the Financial Accounting Standards Board regarding Financial Services - Insurance will materially affect its financial statements.
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23.
GE is planning to divest its remaining interest and has warned that the divestment will result in an additional loss of $8.
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24.
Mr Markopolos noted that BHGE is an asset available for sale and therefore mark-to-market accounting is required.
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25.
In June 2020, GE made an agreement to sell its Lighting business to Savant Systems, Inc, an industry leader in the professional smart home space.
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26.
GE continued to lose value after being removed from the index.
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27.
GE moved its corporate headquarters from the GE Building on Lexington Avenue to Fairfield, Connecticut in 1974.
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28.
In 2016, GE announced a move to the South Boston Waterfront neighborhood of Boston, Massachusetts, partly as a result of an incentive package provide by state and city governments.
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29.
In 2005, GE launched its "Ecomagination" initiative in an attempt to position itself as a "green" company.
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31.
Some of GE's activities have given rise to large-scale air and water pollution.
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32.
GE has been implicated in the creation of toxic waste.
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33.
GE heavily contaminated the Hudson River with polychlorinated biphenyls between 1947 and 1977.
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34.
GE Healthcare is collaborating with The Wayne State University School of Medicine and the Medical University of South Carolina to offer an integrated radiology curriculum during their respective MD Programs led by investigators of the Advanced Diagnostic Ultrasound in micro-gravity study.
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35.
GE has donated over one million dollars of Logiq E Ultrasound equipment to these two institutions.
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36.
Between September 2011 and April 2013, GE ran a content marketing campaign dedicated to telling the stories of "innovators—people who are reshaping the world through act or invention".
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37.
GE has designed social programs, supported civil rights organizations, and funds minority education programs.
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38.
In 1981, GE won a Clio award for its :30 Soft White Light Bulbs commercial, We Bring Good Things to Life.
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39.
In 2013, GE received a National Jefferson Award for Outstanding Service by a Major Corporation.
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