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General Electric: General Electric Company
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General Electric is one of the world’s most diverse companies, dabbling in virtually every industry under the sun. Among other things, it manufactures aircraft engines, locomotives, household appliances, light bulbs and plastics. It builds and operates nuclear reactors, while its consumer finance arm ranks as one of the biggest financial services companies in the nation. GE is ... the parent company of the NBC television network. With so many subsidiaries offering so many different products and services, it’s no surprise that GE keeps close watch over everything Congress does, from defense appropriations to campaign finance legislation and its effects on broadcasters.
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General Electric, GE Access, Access Distribution and the GE monogram are registered trademarks of General Electric Company. All other company and product names contained herein are property of their respective holders. Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release.
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General Electric not only manufactured the equipment to generate electric power, it ... established public utilities to distribute that power. In 1918 GE expanded its home electrical appliance operations when it bought two other companies, Hughes Electric Heating Company (maker of an electric cooking range) and Pacific Electric Heating Company (maker of the Hotpoint iron, the first widely used home appliance). GE diversified further the following year, when, together with Westinghouse Electric, it established the (RCA Corporation), or Radio Corporation of America, to develop radio technology. In 1922 GE started one of the country’s first radio stations, WGY, in Schenectady. GE innovations in electronics during the 1920s and early 1930s included the photoelectric relay to control the flow of elecricity, the rectifier (see Rectification), and the cathode ray tube, all critical to the development and rapid growth of radio broadcasting.
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General Electric (GE) applies Lean manufacturing methods in its businesses - both manufacturing processes and transactional situations. Recently, greenhouse gas (GHG) emissions became a major target for some of the lean activities undertaken by the company. GE’s plant in Peebles, Ohio, is a leader within the company in applying lean to address GHG emissions. The Peebles facility is a jet engine test facility that spans 7,000 acres of woodland and runs tests in the open air. The amount of testing conducted at Peebles is directly related to the amount of business airlines are doing, and recently the aviation business has been on an upward trend. In the case of Peebles, more engine testing means more jet fuel consumption, which leads to an increase in GHG emissions. As such, Peebles has focused on finding ways to continue growing in business while managing its GHG emissions, and these reductions have ... resulted in significant cost savings.
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During the late 1940s General Electric embarked on a study of nuclear power and constructed a laboratory specifically for the task. Company scientists involved in an earlier attempt to separate U-235 from natural uranium were developing nuclear power plants for naval propulsion by 1946. In 1955 the Navy launched the submarine Seawolf, the world's first nuclear-powered vessel, with a reactor developed by General Electric. In 1957 the company received a license from the Atomic Energy Commission to operate a nuclear-power reactor, the first license granted in the United States for a privately owned generating station. That same year GE's consumer appliance operations got a big boost when an enormous manufacturing site, Appliance Park, in Louisville, Kentucky, was completed. The flow of new GE products--hair dryers, skillets, electronic ovens, self-cleaning ovens, electric knives--continued.
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General Electric was implicated in CorpWatch’s War Profiteers Campaign, alongside companies such as Bechtel, Lockheed Martin, Halliburton, Northrop Grumman and Boeing. War profiteers continue to reap the benefits of conflict by producing weapons and/or lining up for lucrative government contracts for various services, using their connections to secure preference. The War Profiteers Campaign exists to educate citizens on corporate ties to military and defense money, and encourages people to contact CEOs with a message that companies must end their roles as beneficiaries from weapons production and proliferation. GE was awarded $2.2 billion worth of military contracts in 2005. The company contributed $220,950 to defense-related political campaigns during the 2004 election cycle, with 50 percent going to Democrats and 50 percent to Republicans. GE’s overall campaign contributions in 2004 totaled $1.9 million.
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