Word: ge
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...every wave, evolved into a diversified manufacturing and finance colossus with strong positions in media and information. This year's sales are expected to exceed $100 billion, and with market capitalization of $302 billion, the company is in a close race with Microsoft for the title of Most Valuable. GE chairman Jack Welch isn't the innovator that GE's founder Thomas A. Edison was, but this son of a railroad conductor and lifelong GE employee would certainly get my vote for CEO of the century...
Sarnoff retired as RCA chairman in 1970 and died a year later. RCA became a conglomerate, diversifying broadly--and unsuccessfully--before being taken over in 1986 by GE, the outfit that started RCA and was forced to divest...
...often the case with environmental pollution, practices once deemed safe turn out years later to be hazardous. So it was with the PCBs used by General Electric Co. and other manufacturers of transformers. Now cost estimates for cleaning up GE's PCB contamination in the Hudson River alone range as high as $3 billion...
...global strategy has paid off brilliantly for the company. GE's shareholder value spiraled 515%, from $39 billion in 1986 to $240 billion in 1997. During the same period, profits shot up 228%, from $2.5 billion to $8.2 billion, while the company's income tax payments to the U.S. Treasury rose a modest 27%, from $1.1 billion to $1.4 billion. In the process, GE pared the U.S. portion of its income tax bill from 84% to 52%. At the same time, GE's income tax payments to foreign governments shot up 550%, from $200 million to $1.3 billion...
...your barber will tell you that before you invest in a company's stock, you should make sure it has great management. The best managers are agile enough to steer through trouble and exploit new opportunities. That's how Jack Welch at General Electric became a star and why GE perpetually trades at a higher multiple of earnings than the average stock. Welch is proven. You can buy his stock and throw it in a drawer. Ditto Charles Knight at Emerson Electric and Lawrence Bossidy at AlliedSignal...