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General Electric: A Technology Giant

July 27, 2015

General Electric is a company that has and continues to be at the forefront of technological innovations and is a giant by any measure. It is only fitting that its origins can be traced to a great innovator and inventor, Thomas Edison.
Thomas Edison during 1889 had business interests in many electricity related companies. Drexel, Morgan & Co. helped merge these companies under one corporation to form Edison General Electric Company which was incorporated in New York on April 24, 1889.

While not known as an inventor, Charles Coffin, was leading Thomas-Houston Electric Company, acquiring a number of competitors and thus had access to their key patents. General Electric was formed through the 1892 merger of Edison General Electric company of Schenectady, New York, and Thomson-Houston Electric Company of Lynn, Massachusetts, with the support of Drexel, Morgan & Company. The company was incorporated in New York, with the Schenectady plant used as headquarters for many years thereafter.

Today, General Electric Co.(GE) is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products.

GE operates through eight segments: Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.

The Power & Water segment serves power generation, industrial, government and other customers worldwide with products and services related to energy production. The Oil & Gas segment supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquified natural gas and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants.

The Energy Management segment provides integrated electrical products and systems used to distribute, protect and control energy and equipment. The Aviation segment produces, sells and services jet engines, turboprop and turbo shaft engines, and related replacement parts for use in military and commercial aircraft.
The other segments do significant businesses with global markets as well.

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