General Electric

General Electric Company

General Electric Company (GE) is an American multinational group of enterprises. It is incorporated in New York City and headquartered in Boston. The company operates through the following segments as of 2018:

• aviation, as well as
• healthcare, as well as
• power, as well as
• renewable energy, as well as
• digital industry, as well as
• additive manufacturing, as well as
• venture capital and finance, as well as
• lighting, as well as
• oil and gas

GE ranked as the 18th-largest firm in the U.S. by gross revenue in 2018 among the Fortune 500. They also ranked as the 14th-most profitable company in 2011 among the Fortune 20 but have very severely underperformed the market since its profitability collapsed. Two employees of GE have been the Nobel Prize winners. They are:

• Irving Langmuir (1932)
• Ivar Giaever (1973)

CEO of General Electric

Lawrence Culp JR became the new Chairman and CEO in October of 2018, replacing John L. Flannery in a unanimous vote of the GE Board of Directors.

John L. Flannery had replaced Jeffrey Immelt as chief executive officer and chairman of the board of GE.

Corporate recognition and rankings

GE was ranked the sixth-largest firm in the U.S., and the 14th-most profitable in 2011 by Fortune. Some of the other rankings in the year 2011/2012 are as follows:

• #18 company for leaders (Fortune), as well as
• #6 best global brand (Interbrand), as well as
• #82 green company (Newsweek), as well as
• #91 most admired company (Fortune), as well as
• #19 most innovative company (Fast Company).

GE’s brand was valued at $28.8 billion in 2012.

GE had appeared on the Fortune 500 list for 22 years and held the 11th rank as of 2016. After the value of the company dropped below 1% of the index’s weight, GE was removed from the Dow Jones Industrial Average on the 28th of June, 2018.

BUSINESSES

GE’s primary business divisions as of April 2019 are:

• Baker Hughes, a GE Company
• Also, GE Additive
• Furthermore, GE Aviation
• Besides, GE Capital
• Furthermore, GE Digital
• Also, GE Healthcare
• Furthermore, GE Lighting
• Besides, GE Power
• Furthermore, GE Renewable Energy
• GE Global Research

Environmental initiatives of General Electric

GE announced that it has licensed solar thermal technology on the 6th of June, 2011, from California-based eSolar for use in power plants that use both solar and natural gas.

The company unveiled its EV Solar Carport on the 26th of May, 2011, which is a carport that incorporates solar panels on its roof, with charging stations under its cover.

GE announced the launch of a program called “Ecomagination” in May 2005, which was intended to develop tomorrow’s solutions like solar energy, fuel cells, hybrid locomotives, lower-emission aircraft engines, efficient lighting, and water purification technology.

GE declared to invest $1.4 billion in clean technology research and development in 2008 for its Ecomagination initiative. The scheme resulted in 70 green products in the market in 2008.