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One of the greatest American conglomerates, GE has had a rocky few years. It was kicked off the Dow last year and more recently has been selling itself part by part.
The company had indicated last year that it would spin off GE Healthcare in an effort to shrink its debt.
It also said that it would sell off its stake in oil services group Baker Hughes, spin off its railroad business, and get rid of its iconic light-bulb division.
But it wasn’t always this way, as told in the video above.
‘The last of the 100-year breed’
GE was born out of a merger between Thomas Edison’s Edison Electric Company and the Thomson-Houston Electric Company in 1892, which was arranged by financier J.P. Morgan. For the next century, it grew along with the economy. It became a founding member of the Dow in 1896.
“GE brought electricity to Americans, brought appliances to kitchens ... It’s left its imprint, it’s accomplished much of what it sent out to accomplish,” Aswath Damodaran, finance professor at New York University, told Yahoo Finance last year.
In 2000, GE was generating almost $130 billion in revenue. At its height, the global giant was a lender, an appliance maker, a media giant (with NBCUniversal), and a healthcare business.
GE’s cash cow was GE Capital, its financial services unit. But the 2008 financial crisis turned that lucrative business into a liability, and the company hasn't quite recovered since. But what it accomplished is remarkable, and its longevity likely couldn’t be replicated by today’s tech giants, according to Damodaran.
“GE is going to be the last of the 100-year breed. The companies of this century have no chance of lasting a 100 years — the Facebooks and Googles. Technology is a very harsh taskmaster,” he said.
Check out GE’s full history in the video above.
GE’s remaining core businesses
Aviation
GE is among the world’s biggest manufacturers of jet engines for commercial and military planes. The company makes GEnx for the Boeing 787 Dreamliner and Boeing 747-8. It also makes the GE90, one of the world’s most powerful engines, for the Boeing 777s, as well as CF6, which powers a variety of Airbus and Boeing flights.
Meanwhile, GE Capital Aviation Services is, according to GE, the world's leading commercial aircraft and engine lessor and lender.
Power
This struggling division is known for its natural gas power plants, and also includes steam, nuclear power, and grid services. GE Power says it generates one-third of the world’s electricity.
Renewable energy
GE Renewable Energy utilizes onshore and offshore wind and hydro technologies, along with other technology like concentrated solar power.