General Electric (GE) was founded by Thomas Edison in 1878 and evolved into a global conglomerate through innovations in electrical appliances, jet engines, and financial services, but later declined due to financial mismanagement and market shifts.
Thomas Edison founds the Edison Electric Light Company with backing from J.P. Morgan and others to develop electric lighting. #history #business
Edison's Pearl Street Station in New York City becomes the world's first commercial electric power plant, providing DC electricity to customers. #energy #innovation
Edison's various companies merge to form Edison General Electric Company, consolidating his electric light and power interests. #business
Edison General Electric merges with Thomson-Houston Electric Company to form the General Electric Company (GE), with Charles A. Coffin as president. #merger #history
GE introduces the first electric toaster, marking its entry into consumer appliances. #invention #appliances
GE creates the first dedicated industrial research laboratory in the U.S., leading to innovations like the ductile tungsten filament. #science #innovation
GE completes the first steam turbine for the Fisk Street Station in Chicago, revolutionizing power generation. #energy #technology
GE launches the Hotpoint electric iron, a successful consumer product that expands its appliance business. #appliances
GE physicist William Coolidge develops ductile tungsten, enabling long-lasting incandescent light bulbs. #physics #invention
GE begins manufacturing radio equipment for the U.S. Navy during World War I, leading to later involvement in broadcasting. #radio #worldwar
GE, along with other companies, forms RCA to consolidate radio patents, but later divests due to antitrust. #media #antitrust
GE launches the Monitor Top refrigerator, the first widely successful sealed-compressor refrigerator, boosting household appliance adoption. #appliances #innovation
GE researchers develop the first practical fluorescent lamp, which becomes widely used in commercial and industrial lighting. #lighting #invention
GE establishes a joint venture with Japanese firms to manufacture incandescent lamps in Tokyo, marking its early global expansion. #global #manufacturing
GE begins working with British inventor Frank Whittle to build the first U.S. jet engine, leading to its aerospace division. #aviation #technology
GE produces the I-A jet engine, which powers the Bell P-59 Airacomet, the first U.S. jet aircraft. #aviation #ww2
GE establishes a factory in Brazil to manufacture electrical equipment, expanding its presence in Latin America. #global #manufacturing
GE introduces the first computed tomography (CT) scanner, revolutionizing medical imaging. #medical #technology
GE builds its first commercial nuclear power plant, Dresden Station Unit 1, in Illinois. #energy #nuclear
GE begins commercial production of Lexan polycarbonate resin, later used in bulletproof glass and consumer products. #materials #innovation
GE buys Utah International Inc., a natural resources company, for $2.2 billion, diversifying into mining. #acquisition #resources
GE introduces digital X-ray technology, improving medical diagnostics. #medical #technology
Jack Welch takes over as CEO, initiating a restructuring program that focuses on being #1 or #2 in every market. #leadership #corporate
GE buys RCA, including NBC, for $6.28 billion, marking the largest non-oil merger in history at the time. #media #acquisition
GE sells most of its consumer electronics business to Thomson SA of France, shifting focus to core industrial and financial services. #divestiture #strategy
GE buys investment bank Kidder, Peabody, expanding into financial services, later selling after insider trading scandals. #finance #acquisition
GE forms its first joint ventures in China, including for medical systems, tapping into the growing market. #global #china
GE Capital's assets exceed $100 billion, making it one of the largest financial services companies in the world. #finance #growth
Jeff Immelt becomes CEO, inheriting a company with a high stock price but facing challenges post-9/11. #leadership
GE buys Enron Wind's assets, becoming a major player in wind energy. #renewable #energy
GE buys Ionics Inc. to enter water treatment and filtration, expanding its industrial services. #water #technology
GE Capital suffers from the global financial crisis, leading GE to cut its dividend and seek government-backed debt guarantees. #finance #crisis
GE announces a $10.6 billion deal to acquire Alstom's power generation assets, expanding in energy. #acquisition #energy
GE exits media by selling its remaining stake in NBCUniversal to Comcast for $16.7 billion. #media #divestiture
GE declares its intention to divest most of GE Capital and refocus on industrial manufacturing. #restructuring #finance
GE merges its oil and gas division with Baker Hughes to form a new company, but later divests. #oil #acquisition
John Flannery takes over as CEO amid declining performance, announcing major cost cuts and asset sales. #leadership )
GE is removed from the Dow after 111 years, a symbol of its decline. #stockmarket #history
Larry Culp is appointed CEO, the first outsider to lead GE, tasked with turning around the struggling conglomerate. #leadership
GE sells its BioPharma business to Danaher for $21.4 billion to reduce debt. #divestiture #pharma
GE reveals it will separate into three public companies: aviation, healthcare, and energy, marking the end of the conglomerate model. #restructuring #corporate
GE HealthCare becomes an independent company, the first of the three planned spins. #healthcare #spin-off
GE Vernova, combining GE's renewable energy, power, and digital businesses, becomes a separate publicly traded company. #energy #spin-off
