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Welcome to watchmojo.com, I’m your host Stash Can and today we take a look at one of the most successful companies ever, General Electric. Now GE can trace its roots back to 1876 when Thomas Edison set up a lab in New Jersey. By 1890’s set up the Edison General Electric Company to bundle all of the different patterns and discoveries that he was making. In fact Edison is known to be one of the most prolific inventors of all times with over 1100 patterns in the US, Germany, France, and the UK but of course he is known for his most popular invention of all time, the light bulb.
General Electric was officially baptized in 189 when financer JP Morgan orchestrated a merger with the Thomas Houston Electric Company. And by 1896, GE was one of the first 12 companies listed on the New York Stock Exchange. By 1919, GE got its first flavor for media by sending out the Radio Corporation of America or RCA to develop and commercialize international radio.
By the 1960’s there were more and more lacks tax laws in the US. By then, GE had become one of the first conglomerates before the term was even coined. GE today is a multinational conglomerate with its world headquarters in Fairfield, Connecticut. It's New York offices are obviously in the Rockefeller Center prominently known as the GE building which ahs the famous GE logo on top. Like most successful corporations, GE has had its fair share of criticism and even faced legal action.
In 1990, GE was convicted of defrauding the US department of defense. In 1992, was charged with corrupt practices in the sale of Jet engines to Israel but wait, there’s more, in addition to its defense related side, it has also faced charges of pollution of air and water. In fact, GE is listed as the forth largest corporate producer of air pollution in the US with more than 4.4 million pounds per year of toxic chemicals released into the air.
GE has one of the most powerful brands in the world with brand equity measured at almost 50 billion dollars but since GE gets over half of it's revenue from it's financial arm, many simply call it a financial company with a manufacturing arm.
General Electric has become synonymous with developing some of the most top rated executives around the world and that's why GE is consistently ranked by both Forbes, Fortune and many others as one of the most admired companies in the world
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