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General Electric: Difference between revisions
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In 2004, GE bought 80% of Vivendi Universal Entertainment, the parent of [[Universal Pictures]] from [[Vivendi]]. Vivendi bought 20% of NBC, forming the company [[NBCUniversal]]. GE then owned 80% of NBCUniversal and Vivendi owned 20%. In 2004, GE completed the [[Corporate spin-off|spin-off]] of most of its [[mortgage loan|mortgage]] and [[life insurance]] assets into an independent company, [[Genworth Financial]], based in [[Richmond, Virginia]].<ref>{{Cite news|url=https://www.forbes.com/2004/05/25/cx_tm_0525video1.html|title=General Electric Completes Spinoff Of Genworth Financial|last=Murphy|first=Tara|date=May 25, 2004|work=[[Forbes]]|access-date=September 5, 2017|language=en|archive-url=https://web.archive.org/web/20170908193206/https://www.forbes.com/2004/05/25/cx_tm_0525video1.html|archive-date=September 8, 2017|url-status=live}}</ref> | In 2004, GE bought 80% of Vivendi Universal Entertainment, the parent of [[Universal Pictures]] from [[Vivendi]]. Vivendi bought 20% of NBC, forming the company [[NBCUniversal]]. GE then owned 80% of NBCUniversal and Vivendi owned 20%. In 2004, GE completed the [[Corporate spin-off|spin-off]] of most of its [[mortgage loan|mortgage]] and [[life insurance]] assets into an independent company, [[Genworth Financial]], based in [[Richmond, Virginia]].<ref>{{Cite news|url=https://www.forbes.com/2004/05/25/cx_tm_0525video1.html|title=General Electric Completes Spinoff Of Genworth Financial|last=Murphy|first=Tara|date=May 25, 2004|work=[[Forbes]]|access-date=September 5, 2017|language=en|archive-url=https://web.archive.org/web/20170908193206/https://www.forbes.com/2004/05/25/cx_tm_0525video1.html|archive-date=September 8, 2017|url-status=live}}</ref> | ||
In May 2007, GE acquired [[Smiths Aerospace]] for $4.8 billion.<ref>{{cite news |url=https://www.nytimes.com/2007/01/16/business/worldbusiness/16electric.html |work= | In May 2007, GE acquired [[Smiths Aerospace]] for $4.8 billion.<ref>{{cite news |url=https://www.nytimes.com/2007/01/16/business/worldbusiness/16electric.html |work=The New York Times| first=Claudia H. |last=Deutsch |title=G.E. Buying a British Aerospace Company |date=January 16, 2007 |access-date=February 8, 2017 |archive-url=https://web.archive.org/web/20170320145113/http://www.nytimes.com/2007/01/16/business/worldbusiness/16electric.html |archive-date=March 20, 2017 |url-status=live}}</ref> Also in 2007, GE Oil & Gas acquired Vetco Gray for $1.9 billion,<ref>{{cite web|title=General Electric to acquire Vetco Gray for $1.9 billion |url=http://www.reliableplant.com/Read/4163/general-electric-to-acquire-vetco-gray-for-$19-billion |website=ReliablePlant.com |access-date=June 11, 2014 |date=January 8, 2007 |url-status=dead |archive-url=https://web.archive.org/web/20140706224120/http://www.reliableplant.com/Read/4163/general-electric-to-acquire-vetco-gray-for-%2419-billion |archive-date=July 6, 2014}}</ref><ref>{{cite web|title=GE Oil & Gas buys Vetco Gray|url=http://www.epmag.com/EP-Magazine/archive/GE-Oil-Gas-buys-Vetco-Gray_156|website=E&P Magazine|access-date=June 11, 2014|date=January 8, 2007|archive-url=https://web.archive.org/web/20140528230355/http://www.epmag.com/EP-Magazine/archive/GE-Oil-Gas-buys-Vetco-Gray_156|archive-date=May 28, 2014|url-status=dead}}</ref> followed by the acquisition of Hydril Pressure & Control in 2008 for $1.1 billion.<ref>{{cite web|last1=Saitto|first1=Serena|last2=Kingsbury|first2=Kevin|title=From Tenaris|url=http://www.marketwatch.com/story/ge-to-buy-part-of-tenariss-hydril-2008-01-28|website=[[The Wall Street Journal]]|access-date=June 11, 2014|date=January 28, 2008|archive-url=https://web.archive.org/web/20140714150716/http://www.marketwatch.com/story/ge-to-buy-part-of-tenariss-hydril-2008-01-28|archive-date=July 14, 2014|url-status=live}}</ref><ref>{{cite web|title=GE Oil & Gas Buys Hydril Pressure Control|url=http://www.oilandgaseurasia.com/en/news/ge-oil-gas-buys-hydril-pressure-control|archive-url=https://web.archive.org/web/20140709164541/http://www.oilandgaseurasia.com/en/news/ge-oil-gas-buys-hydril-pressure-control|url-status=dead|archive-date=July 9, 2014|access-date=June 11, 2014|date=January 29, 2008}}</ref> | ||
GE Plastics was sold in 2008 to [[SABIC]] (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business.<ref>{{Cite web|url=https://www.plasticstoday.com/content/sabic-acquires-ge-plastics-116-billion/5137368976237|title=Sabic acquires GE Plastics for $11.6 billion|date=June 30, 2007|website=PlasticsToday|language=en|access-date=April 6, 2020|archive-date=April 6, 2020|archive-url=https://web.archive.org/web/20200406155337/https://www.plasticstoday.com/content/sabic-acquires-ge-plastics-116-billion/5137368976237|url-status=live}}</ref><ref>{{Cite news|url=https://www.nytimes.com/2018/05/21/business/dealbook/us-china-trade.html |archive-url=https://ghostarchive.org/archive/20220102/https://www.nytimes.com/2018/05/21/business/dealbook/us-china-trade.html |archive-date=2022-01-02 |url-access=limited |url-status=live|title=A Brief History of G.E. Asset Sales: DealBook Briefing|date=May 21, 2018|work=The New York Times|access-date=April 6, 2020|language=en-US|issn=0362-4331}}{{cbignore}}</ref> | GE Plastics was sold in 2008 to [[SABIC]] (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business.<ref>{{Cite web|url=https://www.plasticstoday.com/content/sabic-acquires-ge-plastics-116-billion/5137368976237|title=Sabic acquires GE Plastics for $11.6 billion|date=June 30, 2007|website=PlasticsToday|language=en|access-date=April 6, 2020|archive-date=April 6, 2020|archive-url=https://web.archive.org/web/20200406155337/https://www.plasticstoday.com/content/sabic-acquires-ge-plastics-116-billion/5137368976237|url-status=live}}</ref><ref>{{Cite news|url=https://www.nytimes.com/2018/05/21/business/dealbook/us-china-trade.html |archive-url=https://ghostarchive.org/archive/20220102/https://www.nytimes.com/2018/05/21/business/dealbook/us-china-trade.html |archive-date=2022-01-02 |url-access=limited |url-status=live|title=A Brief History of G.E. Asset Sales: DealBook Briefing|date=May 21, 2018|work=The New York Times|access-date=April 6, 2020|language=en-US|issn=0362-4331}}{{cbignore}}</ref> | ||
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GE was the primary focus of a 1991 short subject [[Academy Award]]-winning documentary, ''Deadly Deception: General Electric, Nuclear Weapons, and Our Environment'',<ref>{{cite web |url=http://www.newday.com/films/DeadlyDeception.html |title=Deadly Deception: General Electric, Nuclear Weapons, and Our Environment |publisher=Newday.com |access-date=April 23, 2012 |archive-url=https://web.archive.org/web/20100815034115/http://www.newday.com/films/DeadlyDeception.html |archive-date=August 15, 2010 |url-status=dead }}</ref> that juxtaposed GE's "We Bring Good Things To Life" commercials with the true stories of workers and neighbors whose lives have been affected by the company's activities involving [[nuclear weapons]].<ref>{{cite web|url=http://stopcorporateabuse.org/cms/page1127.cfm |archive-url=https://web.archive.org/web/20060621082431/http://stopcorporateabuse.org/cms/page1127.cfm |archive-date=June 21, 2006 |title=Nuclear Weaponmakers Campaign – Corporate Accountability International – Challenging Abuse, Protecting People – Think Outside the Bottle – challenging the bottled water industry |date=June 21, 2006 |access-date=April 23, 2012}}</ref> | GE was the primary focus of a 1991 short subject [[Academy Award]]-winning documentary, ''Deadly Deception: General Electric, Nuclear Weapons, and Our Environment'',<ref>{{cite web |url=http://www.newday.com/films/DeadlyDeception.html |title=Deadly Deception: General Electric, Nuclear Weapons, and Our Environment |publisher=Newday.com |access-date=April 23, 2012 |archive-url=https://web.archive.org/web/20100815034115/http://www.newday.com/films/DeadlyDeception.html |archive-date=August 15, 2010 |url-status=dead }}</ref> that juxtaposed GE's "We Bring Good Things To Life" commercials with the true stories of workers and neighbors whose lives have been affected by the company's activities involving [[nuclear weapons]].<ref>{{cite web|url=http://stopcorporateabuse.org/cms/page1127.cfm |archive-url=https://web.archive.org/web/20060621082431/http://stopcorporateabuse.org/cms/page1127.cfm |archive-date=June 21, 2006 |title=Nuclear Weaponmakers Campaign – Corporate Accountability International – Challenging Abuse, Protecting People – Think Outside the Bottle – challenging the bottled water industry |date=June 21, 2006 |access-date=April 23, 2012}}</ref> | ||
GE was frequently mentioned and parodied in the [[NBC]] comedy sitcom ''[[30 Rock]]'' from 2006 to 2013. Former General Electric CEO [[Jack Welch]] even cameoed as himself, appearing in the season four episode "[[Future Husband]]". The episode is a satirical reference to the [[Acquisition of NBC Universal by Comcast|real-world acquisition]] of [[NBC Universal]] from General Electric by [[Comcast]] in November 2009.<ref>{{cite news |last1=Sorkin |first1=Andrew Ross |title=The NBC Sale (the '30 Rock' Version) |url=https://dealbook.nytimes.com/2010/03/12/the-n-b-c-sale-the-30-rock-version/ |access-date=June 13, 2023 |department=DealBook |work= | GE was frequently mentioned and parodied in the [[NBC]] comedy sitcom ''[[30 Rock]]'' from 2006 to 2013. Former General Electric CEO [[Jack Welch]] even cameoed as himself, appearing in the season four episode "[[Future Husband]]". The episode is a satirical reference to the [[Acquisition of NBC Universal by Comcast|real-world acquisition]] of [[NBC Universal]] from General Electric by [[Comcast]] in November 2009.<ref>{{cite news |last1=Sorkin |first1=Andrew Ross |title=The NBC Sale (the '30 Rock' Version) |url=https://dealbook.nytimes.com/2010/03/12/the-n-b-c-sale-the-30-rock-version/ |access-date=June 13, 2023 |department=DealBook |work=The New York Times |date=March 12, 2010 |language=en |archive-date=February 8, 2022 |archive-url=https://web.archive.org/web/20220208070253/https://dealbook.nytimes.com/2010/03/12/the-n-b-c-sale-the-30-rock-version/ |url-status=live }}</ref> | ||
In 2013, GE received a National [[Jefferson Awards for Public Service|Jefferson Award]] for Outstanding Service by a Major Corporation.<ref>[http://www.prweb.com/releases/2013/6/prweb10849501.htm Jefferson Awards Announces Strategic Alliance with the NFL Player Engagement, Charles Fazzino and IvyConnect, While Celebrating 41 Years of Honoring Service to Others] {{Webarchive|url=https://web.archive.org/web/20130728003945/http://www.prweb.com/releases/2013/6/prweb10849501.htm |date=July 28, 2013 }}. Prweb.com. Retrieved on August 16, 2013.</ref> | In 2013, GE received a National [[Jefferson Awards for Public Service|Jefferson Award]] for Outstanding Service by a Major Corporation.<ref>[http://www.prweb.com/releases/2013/6/prweb10849501.htm Jefferson Awards Announces Strategic Alliance with the NFL Player Engagement, Charles Fazzino and IvyConnect, While Celebrating 41 Years of Honoring Service to Others] {{Webarchive|url=https://web.archive.org/web/20130728003945/http://www.prweb.com/releases/2013/6/prweb10849501.htm |date=July 28, 2013 }}. Prweb.com. Retrieved on August 16, 2013.</ref> | ||