Lights Out
Bradley Goldhar - Nov 12, 2021
General Electric Company , or GE was one of the original 12 members brought into the Dow Jones Industrial Average when it was first introduced in 1896.
Lights Out
Thomas Edison is considered one of the greatest inventors of all-time with the light bulb being his most famous. In the late 1800s he rolled several businesses into the Edison General Electric Company, which we now know as General Electric or GE. GE used to be viewed as one of the most important companies in the US and in 1896 was one of the original 12 members in the Dow Jones Industrial Average - it stayed for 122 years until 2018 when it was replaced by drugstore chain Walgreens Boots Alliance. The company (now the 72nd largest company in the S&P 500) was in the news this week as it plans to split into three publicly-traded companies focused on Aviation, Energy and Healthcare (the iconic light bulb business was sold last year). The plan by current CEO Larry Culp will finish the unwinding of the
company as a conglomerate, lights out to the company’s strategy under the previous leadership of Jack Welch and Jeff Immelt. The news of the split-up was well received by the market and the shares of GE are higher by 23.8% in 2021 (i).
Have a great weekend and please stay safe,
Brad
Bradley Goldhar | Senior Portfolio Manager and Senior Investment Advisor
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Source: (i) ThomsonOne
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