General Electric timeline

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General Electric has a long history, involving many mergers, acquisitions, and divestitures.

Contents 1 1876-1950 2 1950-2000 3 2000 and beyond 4 References

[edit] 1876-1950

Date	Event
1876	Thomas Edison opens a new laboratory in America.
1879	Thomson-Houston formed.
1890	Edison General Electric formed.
1892	Edison General Electric and Thomson-Houston merge to form The General Electric Company.
1893	Compagnie Française Thomson-Houston, a sister company to General Electric, formed in Paris. This company would eventually become Thomson.
1896	General Electric made a component of the Dow Jones Industrial Average.
1905	The Electric Bond and Share Co. is formed, with the goal of providing financing to small utility companies. This was the genesis of GE Commercial Finance.[1]
1912	General Electric begins using phenolic resins to mold plastic parts.[1]
1919	Radio Corporation of America (RCA) formed by General Electric and American Telephone & Telegraph.
1930	General Electric forms its Plastics Department in order to research and produce advanced plastics.[1]
1932	GE Credit Corporation is founded to allow families to purchase General Electric appliances on credit. This was the basis for GE Consumer Finance.[1]
1935	General Electric markets the first electric garbage disposal, the Disposall.[1]
1942	General Electric develops the first American jet engine.
1949	General Electric test-fires the M61 Vulcan rotary cannon.

[edit] 1950-2000

Date	Event
1953	Lexan accidentally developed by a GE Plastics scientist while searching for a new coating for wire.[1]
1955	GE Research Laboratory announces their ability to create the first artificial diamonds, primarily for industrial use.[1]
1962	General Electric scientist Bob Hall invents the solid state laser.[1]
1964	General Electric sponsors Carousel of Progress at the 1964 New York World's Fair, Disneyland, and the Magic Kingdom. Sponsorship ends in 1985.
1970	Computer systems division sold to Honeywell.
1971	CFM International is formed with partner SNECMA for the purpose of producing medium-sized civil turbofans.[1]
1972	Reginald Jones becomes Chairman and CEO, replacing Fred J. Borch.
1981	Jack Welch becomes CEO, replacing Reginald Jones. Welch's management style would leave a lasting effect upon General Electric and Corporate America.
1982	CFM International's CFM56 is introduced. The CFM56 would go on to dominate the engine market for short haul airliners.[1]
1983	General Electric sponsors Horizons at EPCOT Center. Sponsorship ends in 1993.
1985	GEnie, one of the pioneering online services, was developed using extra processor cycles on General Electric Information Systems mainframes.
1986	General Electric re-acquires RCA, primarily for the NBC television network. Bertelsmann and Thomson acquire the bulk of the remainder. Thomson would also acquire General Electric's consumer electronics division.
1988	General Electric sponsors IllumiNations, a series of fireworks at EPCOT Center. Sponsorship ends in 1998.
1989	The Consumer News and Business Channel, or CNBC, is formed to provide business news to cable television subscribers.[1]
1993	GE Aerospace sold to Martin Marietta, now Lockheed Martin.
1996	MSNBC is formed with partner Microsoft, to compete with the Cable News Network.[1]
1996	GEnie is sold to Yovelle, now part of IDT Corp.
1996	General Electric sponsors the Main Street Electrical Parade for the farewell season at Disneyland.
1999	Harkening back to the Easy-Bake Oven, General Electric introduces the Advantium oven, which uses halogen lights to cook food.[1]
1999	Montgomery Ward exits Chapter 11 bankruptcy protection, and becomes a subsidiary of GE Capital, a major creditor.

[edit] 2000 and beyond

Date	Event
2000	Montgomery Ward folded by GE Capital due to declining sales.
2001	General Electric and Honeywell agree to merge. The merger is blocked by European Union M&A chief Mario Monti.
2001	Jeffrey Immelt becomes CEO, replacing Jack Welch.
2001	NBC acquires Telemundo, one of the leading Spanish language television networks.
2003	GE Healthcare acquires Instrumentarium.
2003	GE Capital acquires Transamerica Finance from AEGON, who retained the rest of Transamerica Corporation.
2004	NBC acquires the entertainment assets of Vivendi Universal, excluding Universal Music. This forms NBC Universal, of which General Electric owns 80%.
2004	GE Healthcare acquires Amersham plc.
2004	GE Capital acquires Dillard's credit card unit for US$1.25 billion.
2004	GE sells 60% stake in GE Capital International Services (GECIS) to private equity companies, Oak Hill Capital Partners and General Atlantic, for $500 million.
2004	Genworth Financial formed from General Electric's life and mortgage insurance assets.
2004	GE Security acquires InVision Technologies, a leading manufacturer of airport security equipment.
2005	GE Commercial Finance acquires the financial assets of Bombardier, a Canadian aircraft manufacturer for US$1.4 billion.[2]
2006	GE Healthcare acquires IDX Systems, a medical software firm, for US$1.2 billion.

[edit] References