JACK

WELCH
 Dr. John Francis Welch, Jr
 November 19, 1935 (age 74)

 Peabody, Massachusetts

 John, a Boston & Maine Railroad conductor, and Grace, a

homemaker

 University of Massachusetts Amherst, graduating in 1957 with

a Bachelor of Science degree in chemical engineering

 Welch went on to receive his M.S. and Ph.D at the University of

Illinois at Urbana-Champaign in 1960
 Welch joined General Electric in 1960. He worked as a
junior engineer in Pittsfield, Massachusetts, at a salary of
$10,500 annually

 Welch was displeased with the $1,000 raise he was offered

after his first year, as well as the strict bureaucracy within GE

 He planned to leave the company to work with International

Minerals & Chemicals in Skokie, Illinois

 Reuben Gutoff, a young executive two levels higher than Welch,

decided that the man was too valuable a resource for the
company to lose

 Welch was named a vice president of GE in 1972

 He moved up the ranks to become senior vice president in 1977
and vice chairman in 1979

 Welch became GE's youngest chairman and CEO in 1981,

succeeding Reginald H. Jones. By 1982, Welch had
disassembled much of the earlier management put together by
Jones.

 Welch worked to streamline GE. In 1981 he made a speech

in New York City called "Growing fast in a slow-growth
economy“
General Electric
 General Electric
GE is imagination at work. From jet engines
to power generation, financial services to
water processing, and medical imaging to
media content, GE people worldwide are
dedicated to turning imaginative ideas into
leading products and services that help solve
some of the world's toughest problems.
 General Electric
 Year of inception – 1978

 Founders - Thomas Edison

Elihu Thomson
Edwin J. Houston

 Headquarters- Fairfield, Connecticut, U.S

 Employees - 304,000 (2009)
 General Electric
Products Subsidiaries
Appliances GE Energy
Aviation GE Technology Infrastructure
Consumer Electronics GE Capital
Electrical distribution NBC Universal
Energy GE Home & Business
Finance Solutions
Healthcare
Lighting
Entertainment
Oil
Gas
Locomotives
Software
Water
 General Electric
 Key people

Jeffrey R. Immelt (Chairman and CEO)

Keith Sherin  (Vice Chairman and CFO)

Gary M. Reiner  (SVP and CIO)

Beth Comstock  (SVP and CMO)

 General Electric
Revenue ▲ US$157 Billion (2009)

Operating income ▲ US$10.34 Billion (2009)

Net income ▲ US$10.7 Billion (2009)

Total assets ▼ US$782 Billion (2009)

Total equity ▲ US$117 Billion (FY 2009)

 General Electric
Formation :
 By 1890, Thomas Edison had brought together several of his
business interests under one corporation to form Edison
General Electric.
 At about the same time, Thomson-Houston Company, under
the leadership of Charles A. Coffin, gained access to a number
of key patents through the acquisition of a number of
competitors.
 Subsequently, General Electric was formed by the 1892 merger
of Edison General Electric of Schenectady, New York and
Thomson-Houston Company of Lynn, Massachusetts, and both
plants remain in operation under the GE banner to this day.
 The company was incorporated in New York, with the
Schenectady plant as headquarters for many years thereafter.
 General Electric
Going Public:

 In 1896, General Electric was one of the original 12 companies

listed on the newly formed Dow Jones Industrial Average and still
remains after 114 years, the only one remaining on the Dow
(though it has not continuously been in the DOW index).

 23 Ton diesel electric locomotive made at the General Electric

Corp. plant in Schenectady, N.Y.

 In 1911 the National Electric Lamp Association (NELA) was

absorbed into General Electric's existing lighting business. GE
then established its lighting division headquarters at Nela Park
in East Cleveland, Ohio. Nela Park is still the headquarters for
GE's lighting business.
 General Electric
RCA

 The Radio Corporation of America (RCA) was founded by GE in

1919 to further international radio. GE used RCA as its retail
arm for radio sales from 1919, when GE began production, until
separation in 1930.RCA would quickly grow into an industrial
giant of its own.
 General Electric
Power generation
 GE's long history of working with turbines in the power generation field
gave them the engineering know-how to move into the new field of
aircraft turbosuperchargers.

 Led by Sanford Moss, GE introduced the first superchargers during

WWI, and continued to develop them during the Interwar period. They
became indispensable in the years immediately prior to WWII, and GE
was the world leader in exhaust-driven supercharging when the war
started. This experience, in turn, made GE a natural selection to develop
the Whittle W.1 jet engine that was demonstrated in the US in 1941.

  GE Aviation emerged as one of the world's largest engine

manufacturers second only to the well founded, and older, British
company; Rolls-Royce plc, who led the way in innovative, reliable, and
efficient high performance heavy duty jet engine design and
manufacture.
 General Electric
Computing
 GE was one of the eight major computer companies through all of the
1960s — with IBM, the largest, called "Snow White" followed by the
"Seven Dwarfs": Burroughs, NCR, Control Data
Corporation, Honeywell, RCA, UNIVAC and GE.

 GE had an extensive line of general purpose and special purpose

computers. Among them were the GE 200, GE 400, and GE 600 series
general purpose computers, the GE 4010, GE 4020, and GE 4060 real
time process control computers, and the Datanet 30 message switching
computer.

 In 1970 GE sold its computer division to Honeywell. This group,

including Burroughs, UNIVAC, NCR, Control Data Corporation and
Honeywell, were usually, within the industry itself, referred to as the
"BUNCH", not as the "Seven Dwarfs", whereas IBM has always, within
the industry itself, been referred to as "Big Blue", and still is