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General Electric

Headquarters: 3135 Easton Turnpike
Fairfield, CT 06828
Employees: 319,000
CEO: Jeffrey Immelt
Website
: http://www.ge.com

Stock Symbol: GE

Career Page

General Electric is one of the world's largest and best known companies. It operates a broad range of businesses from light bulbs to appliances, power engines, medical equipment and the NBC television network.

GE operates in more than 100 countries and employs over 300,000 people worldwide.

GE practices a philosophy known as Six Sigma to ensure quality. It is a highly disciplined process that helps the company focus on developing and delivering near-perfect products and services.

In 2007, GE had record revenues of $173 billion and record net income of $22.5 billion.

The company is made up of six operating groups: GE Infrastructure; GE Industrial; GE Commercial Financial Services; NBC Universal; GE Healthcare and GE Consumer Finance.

NBC Universal includes the NBC television network, CNBC, MSNBC, SciFi Channel, USA Network, Telemundo, Universal Studios and theme parks. NBC Universal employs 15,000 people.

GE announced plans to sell its plastics division and acquired Smith's Aerospace, a U.K. supplier of integrated systems for aircraft for $4.8 billion in cash.

In May, GE said it would sell its plastics division to Saudi Basic Industries Corporation for $11.6 billion.

History

The Company first originated with inventor Thomas Alva Edison, who established Edison Electric Light Company in 1878. Edison was one of the greatest inventors in history and credited with inventing the incandescent light bulb, the mimeograph and phonograph.

Edison patented over 1,000 inventions, earning him the nickname "The Wizard of Menlo Park," since he worked from his lab in Menlo Park, NJ. Edison believed in hard work and put in almost 20 hour days. He died in 1931.

In 1892, a merger of Edison General Electric Company and Thomson-Houston Electric Company created General Electric Company. That year, the company employed 10,000 people and had $20 million in sales.

General Electric purchased RCA, which also owned the NBC television network, in 1985 for $6.3 billion.

GE attempted to acquire Honeywell in 2001 but was blocked due to anti-trust concerns by European regulators.

GE is the only company listed in the Dow Jones Industrial Index today that was also included in the original index in 1896.

Benefits

GE has locations around the world. It operates a famed executive training facility in Crotonville, NY and research and development center in Niskayuna, NY.

Benefits can vary by location and division. GE offers workers health and dental insurance, life insurance and personal accident coverage. Vision care is also covered.

GE offers an employee savings plan where workers can contribute 1 to 17% of pay. The company adds 50 cents per dollar contributed up to the first 7%. This amount vests immediately.

GE's pension plan vests after 5 years service. Employees contribute 3% of annual pay over $37,500.

Most employees receive 11 paid holidays per year. Vacation time varies with length of service.

Employees get substantial discounts on GE products, including refrigerators, washers and dryers and air conditioners. They can buy GE products through the GE Appliance Store where they can purchase products directly and save on average 20% off typical retail prices.

GE Jobs

CEO Jeffrey Immelt

Updated January 18, 2008

 

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