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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=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= | 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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In November 2020, General Electric warned it would be cutting jobs waiting for a recovery due to the COVID-19 pandemic.<ref>{{Cite news |last1=Vats |first1=Rachit |last2=Kumar Singh |first2=Rajesh |date=November 24, 2020 |title=GE warns of more job cuts at aviation business amid sluggish recovery |language=en |work=Reuters |url=https://www.reuters.com/article/us-general-electric-jobs-idUSKBN2841ZH |url-status=live |access-date=November 25, 2020 |archive-url=https://web.archive.org/web/20201124202925/https://www.reuters.com/article/us-general-electric-jobs-idUSKBN2841ZH |archive-date=November 24, 2020}}</ref> | In November 2020, General Electric warned it would be cutting jobs waiting for a recovery due to the COVID-19 pandemic.<ref>{{Cite news |last1=Vats |first1=Rachit |last2=Kumar Singh |first2=Rajesh |date=November 24, 2020 |title=GE warns of more job cuts at aviation business amid sluggish recovery |language=en |work=Reuters |url=https://www.reuters.com/article/us-general-electric-jobs-idUSKBN2841ZH |url-status=live |access-date=November 25, 2020 |archive-url=https://web.archive.org/web/20201124202925/https://www.reuters.com/article/us-general-electric-jobs-idUSKBN2841ZH |archive-date=November 24, 2020}}</ref> | ||
On November 9, 2021, the company announced it would divide itself into three public companies. On July 18, 2022, GE unveiled the brand names of the companies it had devised through its planned separation: [[GE Aerospace]], [[GE HealthCare]], and [[GE Vernova]].<ref>{{Cite web |title=GE Unveils Brand Names for Three Planned Future Public Companies {{!}} GE News |url=https://www.ge.com/news/press-releases/ge-unveils-brand-names-for-three-planned-future-public-companies |access-date=2022-09-04 |website=www.ge.com |language=en |archive-date=September 13, 2022 |archive-url=https://web.archive.org/web/20220913072716/https://www.ge.com/news/press-releases/ge-unveils-brand-names-for-three-planned-future-public-companies |url-status=live }}</ref><ref>{{Cite web |title=Commentary: Corporations break themselves up all the time. So why shouldn't regulators break up Big Tech? |url=https://fortune.com/2022/08/25/corporations-break-regulators-up-big-tech-ftc-sec-meta-alphabet-amazon-tech-denise-hearn/ |access-date=2022-09-04 |website=Fortune |language=en |archive-date=September 4, 2022 |archive-url=https://web.archive.org/web/20220904095827/https://fortune.com/2022/08/25/corporations-break-regulators-up-big-tech-ftc-sec-meta-alphabet-amazon-tech-denise-hearn/ |url-status=live }}</ref> The new companies are respectively focused on aerospace, healthcare, and energy (renewable energy, power, and digital). The first spin-off of [[GE HealthCare]] was finalized on January 4, 2023;<ref>{{Cite web |title=GE Completes Separation of GE HealthCare {{!}} GE News |url=https://www.ge.com/news/press-releases/ge-completes-separation-of-ge-healthcare |access-date=2023-01-08 |website=www.ge.com |language=en |archive-date=January 8, 2023 |archive-url=https://web.archive.org/web/20230108231832/https://www.ge.com/news/press-releases/ge-completes-separation-of-ge-healthcare |url-status=live }}</ref> GE continues to hold 10.24% of shares and intends to sell the remaining over time.<ref>{{Cite news |last=Francis |first=Theo |date=July 25, 2023 |title=GE Lifts Guidance as Sales and Earnings Rise |url=https://www.wsj.com/articles/general-electric-ge-q2-earnings-report-2023-1abab709 |work= | On November 9, 2021, the company announced it would divide itself into three public companies. On July 18, 2022, GE unveiled the brand names of the companies it had devised through its planned separation: [[GE Aerospace]], [[GE HealthCare]], and [[GE Vernova]].<ref>{{Cite web |title=GE Unveils Brand Names for Three Planned Future Public Companies {{!}} GE News |url=https://www.ge.com/news/press-releases/ge-unveils-brand-names-for-three-planned-future-public-companies |access-date=2022-09-04 |website=www.ge.com |language=en |archive-date=September 13, 2022 |archive-url=https://web.archive.org/web/20220913072716/https://www.ge.com/news/press-releases/ge-unveils-brand-names-for-three-planned-future-public-companies |url-status=live }}</ref><ref>{{Cite web |title=Commentary: Corporations break themselves up all the time. So why shouldn't regulators break up Big Tech? |url=https://fortune.com/2022/08/25/corporations-break-regulators-up-big-tech-ftc-sec-meta-alphabet-amazon-tech-denise-hearn/ |access-date=2022-09-04 |website=Fortune |language=en |archive-date=September 4, 2022 |archive-url=https://web.archive.org/web/20220904095827/https://fortune.com/2022/08/25/corporations-break-regulators-up-big-tech-ftc-sec-meta-alphabet-amazon-tech-denise-hearn/ |url-status=live }}</ref> The new companies are respectively focused on aerospace, healthcare, and energy (renewable energy, power, and digital). The first spin-off of [[GE HealthCare]] was finalized on January 4, 2023;<ref>{{Cite web |title=GE Completes Separation of GE HealthCare {{!}} GE News |url=https://www.ge.com/news/press-releases/ge-completes-separation-of-ge-healthcare |access-date=2023-01-08 |website=www.ge.com |language=en |archive-date=January 8, 2023 |archive-url=https://web.archive.org/web/20230108231832/https://www.ge.com/news/press-releases/ge-completes-separation-of-ge-healthcare |url-status=live }}</ref> GE continues to hold 10.24% of shares and intends to sell the remaining over time.<ref>{{Cite news |last=Francis |first=Theo |date=July 25, 2023 |title=GE Lifts Guidance as Sales and Earnings Rise |url=https://www.wsj.com/articles/general-electric-ge-q2-earnings-report-2023-1abab709 |work=The Wall Street Journal |url-access=subscription |access-date=October 17, 2023 |archive-date=October 25, 2023 |archive-url=https://web.archive.org/web/20231025162955/https://www.wsj.com/articles/general-electric-ge-q2-earnings-report-2023-1abab709 |url-status=live }}</ref> This was followed by the spin-off of GE's portfolio of energy businesses, which became GE Vernova on April 2, 2024.<ref>{{cite web |title=GE Plans to Form Three Public Companies Focused on Growth Sectors of Aviation, Healthcare, and Energy |url=https://www.ge.com/news/press-releases/ge-plans-to-form-three-public-companies-focused-on-growth-sectors-of-aviation |website=www.ge.com |publisher=GE News |access-date=26 October 2022 |archive-date=October 21, 2022 |archive-url=https://web.archive.org/web/20221021221917/https://www.ge.com/news/press-releases/ge-plans-to-form-three-public-companies-focused-on-growth-sectors-of-aviation |url-status=live }}</ref><ref name="bostonglobe-spinoff" /><ref name="afp-spinoff" /> Following these transactions, GE became an aviation-focused company; GE Aerospace is the legal successor of the original GE.<ref>{{cite web |title=GE 2021 Annual Report |url=https://www.ge.com/sites/default/files/GE_AR2021_AnnualReport.pdf |archive-url=https://web.archive.org/web/20220211145336/https://www.ge.com/sites/default/files/GE_AR2021_AnnualReport.pdf |archive-date=2022-02-11 |url-status=live |website=www.ge.com |publisher=GE |access-date=26 October 2022}}</ref><ref>{{cite news |last=Pound |first=Jesse |url=https://www.cnbc.com/2021/11/09/ge-to-break-up-into-3-companies-focusing-on-aviation-healthcare-and-energy.html |title=GE to break up into 3 companies focusing on aviation, health care and energy |work=[[CNBC]] |date=2021-11-09 |access-date=2021-11-09 |archive-url=https://web.archive.org/web/20211110032311/https://www.cnbc.com/2021/11/09/ge-to-break-up-into-3-companies-focusing-on-aviation-healthcare-and-energy.html |archive-date=2021-11-10 |url-status=live}}</ref><ref>{{Cite news |last1=Ganapavaram|first1=Abhijith |last2=Singh|first2=Rajesh Kumar |date=2021-11-09|title=GE, an industrial conglomerate pioneer, to break up|language=en|work=Reuters|url=https://www.reuters.com/business/ge-form-three-public-companies-2021-11-09/|access-date=2021-11-09 |archive-url=https://web.archive.org/web/20211109215139/https://www.reuters.com/business/ge-form-three-public-companies-2021-11-09/ |archive-date=2021-11-09 |url-status=live}}</ref> The company's legal name is still General Electric Company. | ||
== Financial performance == | == Financial performance == | ||
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In 1959, General Electric was accused of promoting the largest illegal cartel in the United States since the adoption of the [[Sherman Antitrust Act of 1890]] in order to maintain artificially high prices. In total, 29 companies and 45 executives would be convicted. Subsequent parliamentary inquiries revealed that "[[white-collar crime]]" was by far the most costly form of crime for the United States' finances.<ref>The American Way of Crime: From Salem to Watergate</ref> | In 1959, General Electric was accused of promoting the largest illegal cartel in the United States since the adoption of the [[Sherman Antitrust Act of 1890]] in order to maintain artificially high prices. In total, 29 companies and 45 executives would be convicted. Subsequent parliamentary inquiries revealed that "[[white-collar crime]]" was by far the most costly form of crime for the United States' finances.<ref>The American Way of Crime: From Salem to Watergate</ref> | ||
GE is a multinational conglomerate headquartered in Boston, Massachusetts.<ref name=10K2017>{{cite web|url=https://www.sec.gov/Archives/edgar/data/40545/000004054518000014/ge10-k2017.htm|title=US SEC: Form 10-K General Electric Company|publisher=[[U.S. Securities and Exchange Commission]]|access-date=June 11, 2018|archive-url=https://web.archive.org/web/20180224125706/https://www.sec.gov/Archives/edgar/data/40545/000004054518000014/ge10-k2017.htm|archive-date=February 24, 2018|url-status=live}}</ref> However its main offices are located at [[30 Rockefeller Plaza]] at [[Rockefeller Center]] in [[New York City]], known now as the Comcast Building.{{update inline|date=May 2019}}<ref>{{cite web|url = https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000040545&owner=include&count=40|title = Company Search, EDGAR System, Securities and Exchange Commission|access-date = December 21, 2015|at = header|archive-url = https://web.archive.org/web/20160101021438/http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000040545&owner=include&count=40|archive-date = January 1, 2016|url-status = live}}</ref> It was formerly known as the GE Building for the prominent GE logo on the roof; [[NBC]]'s headquarters and main studios are also located in the building. Through its RCA subsidiary, it has been associated with the center since its construction in the 1930s. GE moved its corporate headquarters from the GE Building on Lexington Avenue to [[Fairfield, Connecticut]] in 1974.<ref>{{cite web|url=http://www.capitalnewyork.com/article/albany/2015/06/8569598/ge-fumes-over-connecticut-tax-hike-new-york-calls|archive-url=https://web.archive.org/web/20150812060907/http://www.capitalnewyork.com/article/albany/2015/06/8569598/ge-fumes-over-connecticut-tax-hike-new-york-calls|url-status=dead|archive-date=August 12, 2015|title=As G.E. fumes over Connecticut tax hike, New York calls - Capital New York|date=August 12, 2015|access-date=December 27, 2018}}</ref> In 2016, GE announced a move to the [[South Boston Waterfront]] neighborhood of Boston, Massachusetts, partly as a result of an incentive package provide by state and city governments. The first group of workers arrived in the summer of 2016, and the full move will be completed by 2018.<ref>{{cite news|url=https://www.bostonglobe.com/business/2016/01/13/general-electric-will-announce-tomorrow-that-has-selected-boston-for-global-headquarters-according-official-familiar-with-process/ZYZSu7GorfVTRXM2ZIaabJ/story.html|title=Boston lands new GE headquarters|newspaper=Boston Globe|archive-url=https://web.archive.org/web/20171202115504/https://www.bostonglobe.com/business/2016/01/13/general-electric-will-announce-tomorrow-that-has-selected-boston-for-global-headquarters-according-official-familiar-with-process/ZYZSu7GorfVTRXM2ZIaabJ/story.html|archive-date=December 2, 2017|access-date=January 13, 2016}}</ref><ref>{{cite news |last1=Mann |first1=Ted |last2=Kamp |first2=Jon |url=https://www.wsj.com/articles/general-electric-plans-to-move-headquarters-to-boston-1452703676 |title=General Electric to Move Headquarters to Boston |work= | GE is a multinational conglomerate headquartered in Boston, Massachusetts.<ref name=10K2017>{{cite web|url=https://www.sec.gov/Archives/edgar/data/40545/000004054518000014/ge10-k2017.htm|title=US SEC: Form 10-K General Electric Company|publisher=[[U.S. Securities and Exchange Commission]]|access-date=June 11, 2018|archive-url=https://web.archive.org/web/20180224125706/https://www.sec.gov/Archives/edgar/data/40545/000004054518000014/ge10-k2017.htm|archive-date=February 24, 2018|url-status=live}}</ref> However its main offices are located at [[30 Rockefeller Plaza]] at [[Rockefeller Center]] in [[New York City]], known now as the Comcast Building.{{update inline|date=May 2019}}<ref>{{cite web|url = https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000040545&owner=include&count=40|title = Company Search, EDGAR System, Securities and Exchange Commission|access-date = December 21, 2015|at = header|archive-url = https://web.archive.org/web/20160101021438/http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000040545&owner=include&count=40|archive-date = January 1, 2016|url-status = live}}</ref> It was formerly known as the GE Building for the prominent GE logo on the roof; [[NBC]]'s headquarters and main studios are also located in the building. Through its RCA subsidiary, it has been associated with the center since its construction in the 1930s. GE moved its corporate headquarters from the GE Building on Lexington Avenue to [[Fairfield, Connecticut]] in 1974.<ref>{{cite web|url=http://www.capitalnewyork.com/article/albany/2015/06/8569598/ge-fumes-over-connecticut-tax-hike-new-york-calls|archive-url=https://web.archive.org/web/20150812060907/http://www.capitalnewyork.com/article/albany/2015/06/8569598/ge-fumes-over-connecticut-tax-hike-new-york-calls|url-status=dead|archive-date=August 12, 2015|title=As G.E. fumes over Connecticut tax hike, New York calls - Capital New York|date=August 12, 2015|access-date=December 27, 2018}}</ref> In 2016, GE announced a move to the [[South Boston Waterfront]] neighborhood of Boston, Massachusetts, partly as a result of an incentive package provide by state and city governments. The first group of workers arrived in the summer of 2016, and the full move will be completed by 2018.<ref>{{cite news|url=https://www.bostonglobe.com/business/2016/01/13/general-electric-will-announce-tomorrow-that-has-selected-boston-for-global-headquarters-according-official-familiar-with-process/ZYZSu7GorfVTRXM2ZIaabJ/story.html|title=Boston lands new GE headquarters|newspaper=Boston Globe|archive-url=https://web.archive.org/web/20171202115504/https://www.bostonglobe.com/business/2016/01/13/general-electric-will-announce-tomorrow-that-has-selected-boston-for-global-headquarters-according-official-familiar-with-process/ZYZSu7GorfVTRXM2ZIaabJ/story.html|archive-date=December 2, 2017|access-date=January 13, 2016}}</ref><ref>{{cite news |last1=Mann |first1=Ted |last2=Kamp |first2=Jon |url=https://www.wsj.com/articles/general-electric-plans-to-move-headquarters-to-boston-1452703676 |title=General Electric to Move Headquarters to Boston |work=The Wall Street Journal |date=January 13, 2016 |access-date=January 13, 2016 |archive-url=https://web.archive.org/web/20160113185153/http://www.wsj.com/articles/general-electric-plans-to-move-headquarters-to-boston-1452703676 |archive-date=January 13, 2016 |url-status=live }}</ref><ref>{{cite press release |author=<!--Staff writer(s); no by-line.--> |title=GE Moves Headquarters to Boston |url=http://www.genewsroom.com/press-releases/ge-moves-headquarters-boston-282587 |publisher=General Electric |date=January 13, 2016 |access-date=September 22, 2016 |archive-url=https://web.archive.org/web/20160923022821/http://www.genewsroom.com/press-releases/ge-moves-headquarters-boston-282587 |archive-date=September 23, 2016 |url-status=dead }}</ref>{{Update inline|date=February 2019}} Due to poor financial performance and corporate downsizing, GE sold the land it planned to build its new headquarters building on, instead choosing to occupy neighboring leased buildings.<ref>{{Cite web|url=https://www.wbur.org/bostonomix/2019/05/09/general-electric-seaport-property-sale|title=GE Sells Fort Point HQ For $252 Million|website=wbur.org|date=May 9, 2019 |access-date=August 11, 2019|archive-url=https://web.archive.org/web/20190902074327/https://www.wbur.org/bostonomix/2019/05/09/general-electric-seaport-property-sale|archive-date=September 2, 2019|url-status=live}}</ref> | ||
GE's tax return is the largest return filed in the United States; the 2005 return was approximately 24,000 pages when printed out, and 237 megabytes when submitted electronically.<ref>{{cite press release |title=IRS e-file Moves Forward; Successfully Executes Electronic Filing of Nation's Largest Tax Return |publisher=United States Department of the Treasury—Internal Revenue Service |date=May 31, 2006 |url=https://www.irs.gov/pub/irs-news/ir-06-084.pdf |access-date=December 23, 2018 |archive-url=https://web.archive.org/web/20170504201427/https://www.irs.gov/pub/irs-news/ir-06-084.pdf |archive-date=May 4, 2017 |url-status=live }}</ref> As of 2011, the company spent more on U.S. [[lobbying]] than any other company.<ref name="Carney">{{Cite web |last=Carney |first=Tim |date=April 7, 2011 |title=Want to know how GE paid $0 income taxes? Think green. |url=https://www.washingtonexaminer.com/want-to-know-how-ge-paid-0-income-taxes-think-green |access-date=September 3, 2020 |website=[[Washington Examiner]] |archive-date=February 1, 2021 |archive-url=https://web.archive.org/web/20210201023700/https://www.washingtonexaminer.com/want-to-know-how-ge-paid-0-income-taxes-think-green |url-status=live }}</ref> | GE's tax return is the largest return filed in the United States; the 2005 return was approximately 24,000 pages when printed out, and 237 megabytes when submitted electronically.<ref>{{cite press release |title=IRS e-file Moves Forward; Successfully Executes Electronic Filing of Nation's Largest Tax Return |publisher=United States Department of the Treasury—Internal Revenue Service |date=May 31, 2006 |url=https://www.irs.gov/pub/irs-news/ir-06-084.pdf |access-date=December 23, 2018 |archive-url=https://web.archive.org/web/20170504201427/https://www.irs.gov/pub/irs-news/ir-06-084.pdf |archive-date=May 4, 2017 |url-status=live }}</ref> As of 2011, the company spent more on U.S. [[lobbying]] than any other company.<ref name="Carney">{{Cite web |last=Carney |first=Tim |date=April 7, 2011 |title=Want to know how GE paid $0 income taxes? Think green. |url=https://www.washingtonexaminer.com/want-to-know-how-ge-paid-0-income-taxes-think-green |access-date=September 3, 2020 |website=[[Washington Examiner]] |archive-date=February 1, 2021 |archive-url=https://web.archive.org/web/20210201023700/https://www.washingtonexaminer.com/want-to-know-how-ge-paid-0-income-taxes-think-green |url-status=live }}</ref> | ||
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In February 2017, GE announced that the company intends to close the [[Gender pay gap|gender gap]] by promising to hire and place 20,000 women in technical roles by 2020. The company is also seeking to have a 50:50 male-to-female [[Gender equality|gender representation]] in all [[entry-level]] technical programs.<ref>{{cite news |last=O'Reilly |first=Lara |url=http://www.businessinsider.com/ge-commits-to-placing-20000-women-in-technical-roles-by-2020-2017-2 |title='What if female scientists were celebrities?': GE says it will place 20,000 women in technical roles by 2020 |work=Business Insider |date=February 8, 2017 |access-date=February 9, 2017 |archive-url=https://web.archive.org/web/20170209035200/http://www.businessinsider.com/ge-commits-to-placing-20000-women-in-technical-roles-by-2020-2017-2 |archive-date=February 9, 2017 |url-status=live }}</ref> | In February 2017, GE announced that the company intends to close the [[Gender pay gap|gender gap]] by promising to hire and place 20,000 women in technical roles by 2020. The company is also seeking to have a 50:50 male-to-female [[Gender equality|gender representation]] in all [[entry-level]] technical programs.<ref>{{cite news |last=O'Reilly |first=Lara |url=http://www.businessinsider.com/ge-commits-to-placing-20000-women-in-technical-roles-by-2020-2017-2 |title='What if female scientists were celebrities?': GE says it will place 20,000 women in technical roles by 2020 |work=Business Insider |date=February 8, 2017 |access-date=February 9, 2017 |archive-url=https://web.archive.org/web/20170209035200/http://www.businessinsider.com/ge-commits-to-placing-20000-women-in-technical-roles-by-2020-2017-2 |archive-date=February 9, 2017 |url-status=live }}</ref> | ||
In October 2017, GE announced they would be closing research and development centers in Shanghai, Munich and Rio de Janeiro. The company spent $5 billion on R&D in the last year.<ref>{{cite news |last1=Gryta |first1=Thomas |last2=Lublin |first2=Joann S. |url=https://www.wsj.com/articles/ges-new-chief-starts-making-cuts-starting-with-old-favorites-1508353939 |title=GE's New Chief Makes Cuts, Starting With Old Favorites |work= | In October 2017, GE announced they would be closing research and development centers in Shanghai, Munich and Rio de Janeiro. The company spent $5 billion on R&D in the last year.<ref>{{cite news |last1=Gryta |first1=Thomas |last2=Lublin |first2=Joann S. |url=https://www.wsj.com/articles/ges-new-chief-starts-making-cuts-starting-with-old-favorites-1508353939 |title=GE's New Chief Makes Cuts, Starting With Old Favorites |work=The Wall Street Journal |date=October 18, 2017 |access-date=October 19, 2017 |archive-url=https://web.archive.org/web/20171018230213/https://www.wsj.com/articles/ges-new-chief-starts-making-cuts-starting-with-old-favorites-1508353939 |archive-date=October 18, 2017 |url-status=live }}</ref> | ||
On February 25, 2019, GE sold its diesel locomotive business to [[Wabtec]].<ref>{{Cite web|url=https://seekingalpha.com/article/4245730-general-electric-deed-done|title=General Electric: The Deed Is Done|first=Daniel|last=Jones|date=March 1, 2019|website=Seeking Alpha|access-date=August 11, 2019|archive-url=https://web.archive.org/web/20190505054141/https://seekingalpha.com/article/4245730-general-electric-deed-done|archive-date=May 5, 2019|url-status=live}}</ref> | On February 25, 2019, GE sold its diesel locomotive business to [[Wabtec]].<ref>{{Cite web|url=https://seekingalpha.com/article/4245730-general-electric-deed-done|title=General Electric: The Deed Is Done|first=Daniel|last=Jones|date=March 1, 2019|website=Seeking Alpha|access-date=August 11, 2019|archive-url=https://web.archive.org/web/20190505054141/https://seekingalpha.com/article/4245730-general-electric-deed-done|archive-date=May 5, 2019|url-status=live}}</ref> | ||