General Electric G.E. History and Information
About the major U.S. business General Electric G.E. its history and information.
Location-Headquarters at 570 Lexington Avenue, New York, N.Y. 10022, and in Schenectady, N.Y.
How Created-GE was incorporated in 1892, combining Thomas Edison's company with other electrical firms. The rest of GE's history consists of worldwide expansion-the acquisition of countless foreign and domestic manufacturing corporations, electronic services, broadcasting stations, etc.
Size-GE has 215 manufacturing plants in the U.S., 80 manufacturing plants in 20 other countries, and more than 100 laboratories throughout the world.
Who Rules-GE is a highly decentralized company with over 300 operating departments and service components. Each of these departments is run as if it were a separate company, but the departments are organized into 10 operating groups with about 60 managers who oversee the performance of the departments. Overall company policy is determined by the corporate executive officers who are elected by a 19-member board of directors that includes the 4 top officers and the chairmen or presidents of 13 major corporations and banks. The board of directors is elected by 530,000 stockholders owning 182,147,498 shares.
Who REALLY Rules-The Chase Manhattan Bank owns the largest share of GE stock and voting rights (8.2%, $425 million worth). The Morgan Guaranty Trust owns the 2nd largest share ($325 million worth).
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