General Electric (GE) is a multinational conglomerate that produces a wide range of products and services in industries such as aviation, healthcare, renewable energy, power, and finance. The company was founded on April 15, 1892, in Schenectady, New York, by Thomas Edison, Charles Coffin, Elihu Thomson, Edwin Houston, and J.P. Morgan. GE was originally founded as a merger between Edison General Electric Company and Thomson-Houston Electric Company. Over the years, the company has grown to become one of the largest and most influential corporations in the world.
Today, GE operates in four main business segments: Aviation, Healthcare, Power, and Renewable Energy. GE Aviation designs and manufactures aircraft engines and systems for commercial and military applications. GE Healthcare produces medical equipment, software, and services, and is a leader in medical imaging and diagnostics. GE Power provides technologies and services for power generation, and GE Renewable Energy is focused on providing sustainable energy solutions, such as wind turbines and hydroelectric power plants.
GE went public on April 2, 1896, and was one of the original twelve companies listed on the Dow Jones Industrial Average. The company's stock has gone through periods of growth and decline over the years. In the late 1990s, under the leadership of CEO Jack Welch, GE became known for its focus on efficiency and profitability, and its practice of ranking employees on a curve. The company's stock price soared during this time, but later declined in the aftermath of the 2008 financial crisis.
In recent years, GE has faced a number of challenges, including declining revenue and profitability, significant debt, and legal and regulatory issues. The company has undergone significant restructuring, including the sale of its financial services division and the separation of its healthcare and oil and gas businesses.