Word: electricizers
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General Electric has been the world's most valuable company. In fact, it can serve as a proxy for the transformation of American business. A few highlights:
Ling, an Oklahoma high school dropout, went into the electronics business in 1946 with a $3,000 stake. To finance his earliest acquisitions, he hired salesmen to peddle shares of Ling Electric Co. door to door in Dallas and even set up a booth at the Texas State Fair. Brokers...
1905 To increase the demand for electricity, GE begins to produce electric appliances, including the toaster and a lightweight iron.
At the beginning of the 1980s, 45-year-old Jack Welch became CEO of another giant, General Electric. Farsighted, incisive--and controversial--he recognized the threat of competition from Japan and elsewhere and had the intellectual and emotional strength to deal with it. He set the tone for U.S. industry...
1900 The General Electric Co. is eight years old, the product of the merger of the Edison General Electric Co.-Thomas Edison's firm and the Thomson-Houston Co. It is a forced marriage: Edison was an inventing genius but no match for J.P. Morgan in finance. Edison would quit...