The Decline of General Electric...What Happened?

General Electric has helped shape the society we have today. 126 years of invention and innovation that all started with Thomas Edison, yet today they're struggling. This video takes a look their decline and attempts to convey why it's significant. It also explains a popular belief concerning the for this decline. It's been a sad story, but it's not over yet.
Twitter: / mikecompany17
Patreon: / companyman
Website: companyman.squarespace.com
Recent Video: Pillsbury: • Pillsbury - The Overlo...
Other Company Declines:
Kmart: • The Decline of Kmart.....
Blockbuster: • The Decline of Blockbu...
RadioShack: • The Decline of RadioSh...
Solo Cups: • The Decline of Solo......
Toys "R" Us: • The Decline of Toys R ...
hhgregg: • The Decline of hhgregg...
Pan Am: • The Decline of Pan Am....
ESPN: • The Decline of ESPN......
Gibson: • The Decline of Gibson....
iHeartMedia: • The Decline of iHeartM...
Bon-Ton: • The Decline of Bon-Ton...
Kodak: • The Decline of Kodak.....
______________________________
Intro Made By - / @jombo1

[@sj69694]

It’s 2021, three years after General Electric was removed from the Dow. Now they recently (like yesterday) announced they’re splitting into 3 separate companies. Each company focuses on one of GE’s most profitable segments. This is big news in the business world. Can you make another video covering GE about this situation (like you did with Toys R Us)?

[@peaber69]

No it's actually 2022 man get your facts straight

[@wizzard5442]

@@peaber69 Didnt you notice the comment was 9 months ago which was December 2021?

[@michaelkelleypoetry]

@@peaber69 He posted the comment in 2021 man get your facts straight

[@timf2279]

@@peaber69 = Idiot

[@peaber69]

@@michaelkelleypoetry it was a joke🤦

[@cdsnider9496]

I knew a guy that worked for GE and he said the only thing they make that doesn't suck is their vacuum. Lol

[@companyman114]

Nice one.

[@massivereader]

I guess he isn't around their jet engines much.

[@jockellis]

He’s full of bologna. We made great gas turbines, turbo fan engines, diesel locomotives, home appliances and lots of other things.

[@jockellis]

Andy Davies fAndy, do you know what division of GE the lasers came from. As to the transducers, I’ve heard of lots of UT machines being used in the NDT field but never heard of any problems. I’m not certified in either UT or UTT so I have no experience with GE’s transducers except for my level 1 & 2 schools.

[@Twinson1]

I wasn't involved with the ND glass amplifier renovations so I can't pinpoint the exact parts. I suspect it was the electrical equipment, i.e. high voltage capacitors and supporting equipment. But I don't want to disparage GE based solely on a second hand account so I have removed my comment. GE Research and Development contributed greatly to laser technology development so I have a lot of respect for there contributions to the field. As for the transducers, there from GE healthcare used for ultrasound images of cancer.

[@Chompchompyerded]

Q: Why did the soldier salute the refrigerator? A: It was General Electric. well it was funny 68 years ago when I was 5 years old...

[@amadiolivas1405]

Nice

[@wolf397]

@@amadiolivas1405 Nice

[@Panteni87]

Those jokes are timeless

[@brujay9321]

My dad works for GE aviation and he almost got layed off

[@uwuperson1046]

Still funny today because they still sell tat kind of stuff.

[@redburtley6021]

Considering that GE put up with a CEO that failed to deliver for 16 years, I don't have much hope for the company.

[@LogicallyAnswered]

You never know though. General Motors filed for bankruptcy 10 years ago, but know they're actually doing really well. I have a video on GM if you are interested.

[@mitchellalexander8508]

Might as well restructure. GE is $8.00 a share now. They have nothing more to lose lol

[@16v15]

@@LogicallyAnswered GM is just a new flavor of fcked, none of the inherent systemic problems were ever addressed. Mary Barra?!? Learn to read the 10Ks and 10Qs, it looks just as pathetic as 2007.

[@TheDr502]

When I think of GE, I think "old-ass white fridge from 1995" or "old-ass white washing machine from 1998". I don't think, "sophisticated, cutting-edge technology and appliances of the 2020s".

[@jakekaywell5972]

@@TheDr502 In my case, I think "old ass white fridge from 1955." That's much cooler!

[@madManMickey]

In it's day, GE, invested in emerging technologies. They were leader in development of new technologies and product. In the late 20 century GE was a leading innovator. They would hire and fund people and projects that may not pay off with 20% return within a year but may build a new industry. With the advent of Jack Welch, who expected every unit to be high return and first and second in the industry. If not in that category that year, the unit was sold. Many are now doing fine, (example: sonar radar divisions) which means he gutted GE of their unit that are long term investments. This is akin to eating your seed corn, you have nothing for the future. Aerospace was down in the early 90’s and is doing well today. An example of a CEO who does not understand the business unit under their control.

[@tnndll4294]

Sounds kinda like John Scully of Apple. He got rid of Steve Jobs and was profitable for the short term. In the long term they ran out of ideas until Jobs came back. What I'm seeing with other companies is that they are getting too involved with politics rather than working on their products. Facebook, Google, ESPN, etc. maybe it's just me, but I find it harder to find things on Google Search than just a couple of years ago.

[@frankspeaking2630]

@@tnndll4294 Volume and spin Back in the late 90's for example I did a Google search in "the Moslem Brotherhood" - came up with maybe a dozen references which were all very informative and largely evidence backed, try it now and there are 100's of thousands of references completely drowning out the valuable ones, a paranoid person migny thing those informative references are being drowned out by whitewash and paid for "preferred results", he who pays the piper calls the tune

[@dknowles60]

i sorry jack has been gone since 2001. this is 2019. any more bs

[@roxyraccoon8856]

Michael is exactly correct with one exception. Jack Welch knew exactly what he was doing and he didn't care. Why? Because Jackoff got Rich, scumbags on the Board of Directors got Rich, Jackoff's friends got Rich... The media _raved_ about Jack Welch and not just the media that General Electric owned but all the financial turds loved him. And don't forget, Jackoff was in charge for a long time. That meant that all his selling and all his cutting could never be duplicated so no one would ever look as "brilliant" as Jack. Instead they would be picking up the pieces. General Electric was a huge company with many divisions and a company so very large takes a *long* time to fail, even when the priority switches to profit taking by only selling divisions and cutting costs - a concept lost on dknowles60. It's a model that Al "Chainsaw" Dunlap used, it was demonstrated in the first Oliver Stone "Wall Street" movie and it is what Republicans are trying to do to the United States so they can hand over control of land and resources to their wealthy donors.

[@Feroxing12]

you are right. Worked in GE between 2010-2016, all their priorities was to deliver short term annual income plan at any cost without thinking long term. simetimes rhey did ugly things such as price up for customer just to make good annual numbers. they didnt care about any long term innovations. if the return isnt immediate they didnt do it. i was in finance calculating expected return of many prijects for management. they were very strongly short term oriented with zero customer approach. we had these CV actions meeting where we brainstormed what can we price up.

[@mattyduncan4679]

I worked at GE power & water division for years as a tool & die maker. They cut their workforce. Forced people into early retirement. I took my buyout and started my own business. Glad to be out of there. The amount of bureaucracy in that company is unbelievable. There was so much red tape and rules on every single thing you did that just doing your job is difficult. Corporate insanity.

[@AdamSmith-gs2dv]

Matty Duncan My dad works for GE and you are 100% correct, the management is so corrupt and inept it's unbelievable

[@Beau4824]

These monopolies' control is coming to an end! The coming years will be a revelation to the masses!

[@tikiwoo8540]

What's your business? How are you doing currently

[@verdatum]

I have an ancestor who was a tool & die maker. I'm a software engineer who turned into a huge machining and metalcasting enthusiast. I always thought that tool & die making was such a badass job. Complicated exacting work that has a serious impact on the world.

[@frankschneider6156]

What might seem to you as corporate insanity is often not insanity at all. If there are no rules, the arising chaos usually costs a lot more than having strict, but sometimes senseless and inefficient rules. One job of management is to strike the right balance. And if you think GE is bad managed: they still make lot's of money. I'd kindly ask you to look into a major company that's continuously losing money. That's bad management.E.g. Yahoo comes to mind as one of the worst managed companies ever.

[@alejandrobasaldua5930]

Finally Tesla got the last laugh.

[@Narutojaden]

Not really because this guy said Thomas Edison invented the light bulb “InVeNtEd!!!” More like stole patents and ran around scream “I’m important and smart look at me. I have not morals and will make crapper stuff just so someone can charge you to use it” 🤮

[@ethancarberry-holt3011]

@@davidgood7621 Tesla was started by two technological engineers with a very optimistic future of the cars, they just so happened to meet a guy mad enough to have the same vision as them and are now dominating the car market. Ford? Catching up. Audi? Catching up. BMW? Catching up. What makes Tesla successful? They reinvest the money they make. GE here seems to keep on spending it on other companies so they can acquire them.

[@pphyjynx8217]

@@davidgood7621 okay dave.

[@Caddynars]

I think Nikola got the last laugh when J.P. Morgan booted Edison out of GE when he got a majority stake in the company.

[@whorton4]

He got the last laugh when his AC system was adopted for the power grid. . .

[@SergeantExtreme]

Makes sense. My dad worked as an Engineer for GE for over 35 years. He used to tell me that the managers would require him to send them laboratory reports that showed that the products would fail shortly after their warranty expired.

[@ted4683]

I saw a guy with a GE tattoo in a supermarket.

[@mr.otaku2399]

What a brave, brave man. Or stupid.

[@YoumuHoover]

I would love to have a GE tattoo.

[@MrNightpwner]

What a moron

[@geraldoconnor7212]

This is incredibly stupid dialogue.

[@Beau4824]

Could it have been something else?

[@AllieRX]

Can you do a video on Sony? Their PlayStation brand is doing well, but they're bleeding money on virtually everything else.

[@JJAstley]

they had trinitron and walkman to depend on in the past, but that's about it. The camera division is decent though, due to their acquisition of Konica-Minolta camera business.

[@natehiggins2487]

Sony is a Japanese conglomerate which means they have their fingers in a lot of pies. It is true their general electronics aren't what they used to be and the same for their movie division, they have plenty of other industries they are in that we don't hear about. We don't hear about their insurance or financial side of the conglomerate, for example. I think their music industry is still doing great however. The Japanese simply have a different way of doing business compared to Americans too. Americans are too focused on shareholder value theory where they try to raise up the value of stocks using financial wizardry, despite the very short term nature of the strategy. The Japanese look at things more hollistically and try to look at the long term. So the Japanese aren't in a rush to sell off a part of their conglomerate that isn't doing well in the here and now. While GE would sell itself off to try getting capital to try utterly dominateling and impressing shareholders in a few industries, Sony will try to ride it out and see if there's any future opportunities for their industries.

[@stevennguyen8935]

That sounds like good idea

[@BAIGAMING]

THIS! I remember a business class where the prof wanted us to have fun with an assignment and asked us on how we thought Sony, Xbox and Nintendo were doing. I was shocked when I realized Sony wasn't doing well, and pretty much everyone's presentation was ripping on Sony, but for good reason of course.

[@rzpogi]

The issue is back in the 2000s where they started to make veteran employees "retire early." They jumped after to Samsung and other companies. Afaik, their profiting division is the Playstation, Media(Sony Pictures and Sony Music), and camera division where they make camera sensors for mobile phones. Coldfusion made a great video about them.

[@dhrj233]

This video is gonna blow up again.

[@IAMEMPIRE-rc2to]

Yep I came back you watch it because of the news

[@BourbonbluesNet]

Yes

[@Brainulator9]

I hope there's a 2.0 video!

[@alexluna1222]

@@IAMEMPIRE-rc2to what happened in the news?

[@gigilaco]

Alex Luna Harry Markopolos, the guy who blew the whistle on Madoff, said GE is a fraud and has concrete proof.

[@billl1127]

I worked for Westinghouse in the 1980s. We were always admiring GE's size and reputation. Westinghouse is another historic company mismanaged out of business.

[@gyip6146]

Ex-CEO was running a stock, not a company for his bonus. Divested assets (that could have been future cash cows) for cash to do buybacks at above the book value of the company.

[@thanksobomba1963]

Specific electric happened

[@companyman114]

Nice.

[@mmouse1886]

Then Focused Electric comes next

[@TheGhjgjgjgjgjg]

Thanks obomba...

[@SuperCN28]

Hahaha I don’t get it 😂

[@jenniferclark9842]

😆

[@daroachdoggjr188]

General Electric will go away...and come back as “General Atomic”, selling nuclear powered household appliances and potentially automobiles.

[@RustyShackelford6]

General atomics Is already a company

[@Misha-dr9rh]

@@RustyShackelford6 Oh my god you're fucking right! Fallout is coming! en.wikipedia.org/wiki/General_Atomics Except they mainly make military aircraft, not nuclear appliances. Yet.

[@criptin4075]

@@Misha-dr9rh General Atomics brought us the predator drone.

[@Misha-dr9rh]

@@criptin4075 how long until they make one with a nuke?

[@lunahetfield]

Lol

[@ping5580]

they started trading businesses instead of building them. if you add no value, how can you expect your company to increase in value?

[@khunopie9159]

I guess you could say that GE... _blew a fuse_

[@accelrailgun5065]

ha...ha... *ha*

[@ceiling771]

AccelRailgun506 at least he tried

[@theanalogkid2778]

Khu NoPie ba dum crash

[@realdavidschneier]

lol

[@emperorleroy6747]

*put sun glasses on*

[@clydecessna737]

It was Jack Welch that destroyed the company favoring deals rather than innovation and US based technology production of the existing product lines. He, like many US manufacturing CEOs stopped the process of innovation, design, produce and the sale of useful products that Japan does do well. He went for short term stock market gains and lost the DNA.

[@phade2blaq]

Don't forget all the perks he also leveraged for himself at GE expense all while shafting hourly workers in the process.

[@phade2blaq]

JJ You are absolutely 100% correct and this is what average Americans fail to grasp and understand. They're shafting working people by weakening their unions, benefits and pay all while the top tier execs are making 10 15 20 and in some instances 30M annual salaries.

[@seththomas9105]

There's a fella in Omaha that kinda' likes to think long term. Older guy, glasses, white hair. Think his first name is Warren. Plays a lot of cards, everyone in Omaha says he's a nice guy. Wish I could remember his las... BUFFET. That's it!

[@stanleyluce901]

yep your right about jack

[@paulomahoney8314]

Welch was a liar, I had the misfortune of having a boss who came from GE. He insisted that we'd do the accounts the GE way, those accounts had no connection to the reality of the business. It was all short term, no strategic planning nothing......just under promise and over deliver

[@adriatic98]

The GE factory where I live is being turned into apartments

[@scottgionet7265]

Schenectedy, NY or Pittsfield, MA?

[@victoriafrodsham3730]

With the right CEO CTO and CFO anything can happen. Come on GENERAL ELECTRIC change = great opportunity and with the right people to support you it won’t take you too much longer to get right back up there on the leading pedestal of the world - where you belong. Come on #GE Happy New Year - to the future and beyond. Victoria

[@dumdum7786]

What do they make at that factory? GE makes a lot of things, ranging from light bulbs to train locomotives.

[@McTrollinftw]

@@dumdum7786 GE hasn't made locomotives since early 2019 when their Transportation division was bought by Wabtec.

[@johnreese7291]

Jack Welch hated the middle class too. He developed a lot way to make things overseas with the GE symbol on it. My uncle was an electrical engineer for GE. He had to go over to Singapore in the early 80’s to help get the TV plant up and running that they were moving from Virginia. It’s hard to believe they use to make TVs in the United States. I think Jack Welch laid the foundation for some of the problems today.

[@VoiceDisasterNz]

Neutron Jack was largely responsible for the downfall of GE

[@Vienticus]

I used to work for GE. The company was asinine to work for. Aside from the typical idiocy of the first thing that they always made sure they did when something went wrong was to have a pow wow to figure out who to blame. But it ended there. Solutions to problems were something never discussed. Beyond that, their actual company policy was to have all of their different branches competing with each other in any way possible. And competition wasn't the only thing that different branches did to each other, they tried to screw each other over as well. On top of that, their products in most of the industries I've interacted with were often considered some of the lowest quality. On top of that, one thing I used to do for GE was install the CT scanners. If you followed the instructions on how to install the machine, it wouldn't work. One of my co-workers told me that this was done on purpose in order to prevent external companies from installing them. The only expectation I have for GE is that they'll go completely under considering that people don't even call anything made by GE "Good Enough" anymore.

[@verdatum]

Damn...CT scanners are pretty important...you'd think they'd get that right...

[@timmmahhhh]

The idiot running Sears does the same crap of having departments compete against each other, moron has his head up Ayn Rand's arse. No wonder GE is in trouble if they pull the same nonsense.

[@Xergecuz]

I also worked at GE Healthcare in Mexico and yes, top management was exactly like that here too, then Invisalign opened a factory right next and almost everyone went to work there.

[@swinde]

I have always wondered why that throughout the corporate world, currently there is this urge to grow and expand and have quarterly earnings that constantly increase year over year. It seems to be sort of a "tunnel vision" method that can actually hurt the company's success in the future. It seems very few organizations do any long term planning anymore, but focus only on the current quarter's earnings. There was always a rush to push out more billable products in the closing few weeks of each quarter to artificially increase the current quarter's earnings, but forgetting that these earnings are actually ripped from the next quarter's numbers at the risk of the quality of the products suffering due to the urgency of pushing them out prematurely. GE seems to have operated in this manner over the last twenty years and was reactive rather than proactive in its philosophy.

[@carolineyau9409]

It is OK for GE to apply the top 10% system to the employees but the great oversight was for the Board of Directors not applying the same system to the CEO like this: If the CEO does not perform at the top 10% among S&P 500 companies, he would be shown the door. In addition, if he was proven to have cooked the books, then all his pass bonuses would be forfeited.

[@robertcasey2490]

It's been my experience that employee ratings is mostly based on how well you kiss your boss's ass, not how well you do the job.

[@jamesrobinson7381]

Jack Welch gets a lot of acclaim for being a guiding "light" for GE management. He's even held up as the standard too in the area of management. As you have shown in this video Jeff Immelt has been given a lot of blame for its recent fall. I would submit that Jack Welch's forced ranking system of employees and managers is a big part of it. As a former manager for a major bank that used his theories it was held up as "the Way" to go. In fact, they pushed Jack Welch's books as a must read when I was there. The forced ranking system basically goes like this: if you have a team 10% get great marks and praise, another 10% are labelled a "Needs Improvement" with a mandatory development plan designed to lead them out the door. And then, 80% get rated as OK and a speech at raise time basically claiming times are hard and you'll only get a 2% raise; but really, you're lucky to have a job. Lol. Of course, the top 10% are given the keys to the kingdom, fast tracked for promotion, large raises and hefty bonuses where applicable. Here's the problem. Not every unit has an even distribution of talent. Some have quite a bit of high achievers. Others are solid 80 percenters. And some suck so bad you need to start over and build a new team. When I tried to explain this to my director his eyes glazed over. I said what if you had a team of 10 top performers and you use this forced ranking system? Half would leave after the first evaluation. You'd be lucky to keep 40% if 30% had poor self esteem. But top performers know they are top performers and they would not put up with this bullshit. Therefore, over time there would be a gradual brain drain of great performers. And some units would promote less talented individuals because they were lucky enough to be grouped with mediocre performers. As for our implementation at the bank, sure it worked for about 3 years. In fact, with all the wheeling and dealing at GE it works great with acquisitions and mergers. You have to get the synergies of putting two organizations together. But after 3 years it starts to tear at the very fabric of the organization. Eventually, we cut too deep. Letting great talent out the door. This led to a shortfall in staffing requiring us to hire in more expensive "consultants". If they got lucky enough to be brought on fulltime? Eventually, they would be snared into the forced ranking system. Which as the FNG (F'ing New Guy) often led to a needs improvement review. And the vicious cycle continued. Elevating the good ole boys and crushing the people they didn't like. In my banking scenario, eventually my boss cut so deep he was demoted. Before finally being shown the door himself. As for me, I saw the writing on the wall. Raised my hand for a generous reduction in force package. Allowing me to take an interesting assignment with a bank overseas. GE can come back. And I hope they do under CEO Flannery. However, he is a big disciple of Jack Welch too. So, we'll see what the future holds? I would submit good managers build good teams which leads to solid continuity and improvement. Don't let a tactic used in limited situations be your guiding principle forever. Good managers have many tools in their arsenal. Not every problem is a Nail. Lol. Nice food for thought video.

[@carstenjunge1327]

I work for GE and the ranking system is changing......

[@fe1ixsam]

Agreed with your point on Forced Ranking System; I have seen managers destroying their team by applying this theory

[@bobmar9239]

It sounds a lot like Microsoft. They would fire the bottom 10% performers every 6 months. People spent more time gaming the system to keep their jobs, then doing their jobs.

[@jc.1191]

Ge isn't coming back. They have too much hidden accounting problems and debt.

[@timf2279]

Keep those TPS reports moving.

[@anonymoose9315]

GE is too government dependent. They are also like Sears. Once a great giant and are now on life support. They didn't innovate in time.

[@matthew8153]

loser name user name They also structured their company so it it wouldn’t have to pay income taxes. The bit them in the ass in the long run.

[@noname-nw3yd]

Wrong government is dependent on GE, without ge there is pretty much no america

[@Babygirlkakes]

Wasn't GE connect with a lot of Sears sales? I feel that was Sears was the main seller of GE product

[@GiantWalrus]

Well they did design a minigun

[@cigarr3870]

I disagree loser name user name, I just think their products suck. Nothing they make seems to be the best, just medium range trash. They did innovate, the "energy saving" light bulbs were pretty revolutionary if I remember correctly. They make a ton of parts for the green industry, wind mill parts I do believe. I think it boils down to very terrible management that aren't worried about failing since they have been bailed out before. They are "too big to fail" and I think that is a shit place to be in. Way too many moving parts, and they don't have the "brass" to pull it off. Samsung is better in every single way. But, that being said, you have a point, they are on life support and I hope our tax dollars aren't used again.

[@shybaka2892]

I remembered when I was a kid I always thought GE logo was a fancy candy logo like York 😅

[@floridianrailauto9032]

I thought it was some sort of beer, lol

[@t6amygdala]

i thought it was the letter H

[@brandonmonson2147]

Exactly, I thought it was just a little scribble. And now I'm finally seeing the "GE"

[@blgarage9519]

East Coast Multimedia you and I both lol

[@theprodegypk]

At GE we call it the GE Meatball idk why and no I’m not kidding haha

[@PaulRichards1]

You didn't even mention their Long Term Care business. That's what's killing them!

[@steveworrell]

How did you work that out?

[@PaulRichards1]

Math.

[@steveworrell]

You're a smart guy

[@AgentSmith911]

Yeah those liabilities will empty their asset holdings so they gotta get rid of that health care department.

[@joemeehan9329]

The NBC chimes are musically a G-E-C, started during the days of the original ownership by the General Electric Corporation. Thank you NBC tour at 30 Rock!

[@the1tacoirvin]

How about lg(life's good): bigger than you know

[@natehiggins2487]

Taco Irvin That can be described for any Korean or Japanese conglomerate.

[@mspysu79]

You mean Lucky Goldstar.

[@TheLastAnalogJunkie]

mspysu79 This! So many people accidentally conflate the slogan and their actual name. It’s still pretty amazing how their reputation/quality was turned around and raised so quickly here in the US after their rebranding from Goldstar in the 00’s.

[@gonigeena]

ThisEpisode The UBK 90 is good

[@patrickm2912]

Peter Nadreau phones are good. They just dont market them enough

[@WorldWideWong]

okay, I'll be "that guy"...didn't Thomas Edison invent the MODERN incandescent lightbulb? didn't someone else invent the FIRST lightbulb? anyway, great video. I do appreciate that you show your sources but could you start putting links in the description so we can also read up on them? Also, maybe you could start a "Company Man Explains" series where you explain various concepts from IPO to VC vs Angel investing to different chapters of bankruptcy. I know you already sorta do it in your videos and other channels have vids like that, too. But, maybe you could put your own spin on it! Just a thought...

[@darthmcgee2216]

There were previous lightbulbs, but they were tremendously expensive and would burn out rapidly. If they even worked at all. He remade them fixing all the problems and made them viable hence why he gets the credit.

[@MooneJay20]

Put simply, Edison “perfected” the lightbulb, not invented it.

[@elgatto3133]

Edison made it viable, you'll find Edison was good at making things viable

[@depressedfedora4125]

Actually Edison bought the plans from2 guys who didn’t have the money to make the lightbulb we know today

[@alphared4655]

World Wide Wong Edison had an army of minds working for him. It's likely he didn't have anything to do with the implementation of tungsten as a filament. Someone who worked for him did. Contracts for his elves said they have no rights to their breakthroughs

[@tonyahinrichs8828]

In my town There's a big GE Factory that's been sitting vacant since 2003

[@invaderzim1265]

It's for the benefit of the few. 🙂😈

[@bryany9476]

Pittsfield?

[@tonyahinrichs8828]

@@bryany9476 Fort Wayne

[@PiroKUSS]

Could be turned into apartments.

[@avuci]

My new house has all GE appliances. All of them are horrible except for the oven.

[@gus473]

Oh, that will go too! Only GE products I trust anymore might be silicone seal, Lexan® & turbines...!

[@joedoe-sedoe7977]

Just tossed my ge gas range because the 3rd electronic board failed in 5 years cost $300 also junked the Ge front loader because bearing went out after 3 years. ..the name Ge means nothing anymore

[@Szari124]

Only GE products I buy is lightbulbs

[@bernardscheidle5679]

In the 80s & 90s, GE was touted as the example of how to succeed. They would dump any division that needed fixing or long term investment, and just buy an already successful firm that did something else. I never liked their philosophy, and it sure looks like it isn't working too well anymore. Just buy, sell, spin it off, and who cares what they make or do, it's just numbers that they want to go up.

[@bernardscheidle5679]

Yep, it was Jack Welch the Wonderboy Wiz Kid who could do no wrong, back in the 80-90s when they were riding high. Now their stock is what, 13 bucks? A short term investing philosophy comes to an end when the music stops. I hope Jack sold his stock before he died.

[@billl1127]

GE's philosophy was to unload the bottom 10% performers. It was a throw the baby out with the bathwater mentality as a lot of talented people were cast off.

[@Andreas4696]

I see GE being replaced in the Dow by Walgreens as a reflection of today's economy. America is rapidly shifting into a spending-driven, consumer economy, while manufacturing and heavy industry has been declining for decades.

[@jarrelldaniel4199]

Yeah and Walgreens has low prices. Sarcasmo has spoken.

[@MrKidkiller159]

LegendMeadow yes it's a sad thing.

[@utubewatcher806]

+steve b that's true, but manufacturing has also shifted to "right-shoring" like services based on knowledge skills. The lower-priced labor markets for labor-intensive manufacturing (assembly) are non-US; what is made in the US is highly automated and requires less workers. Those factories are fewer than you would have found in the 1950s through the mid-1970s when factories and processing plants began to shutdown by yielding to imports when the Congress and Executive Office abolished quotas and tarriffs on imported goods and resources in the early 1980s.

[@DrunkenGuitarGuy]

steve b something wrong with your keyboard??

[@SecondTake123]

And manufacturing is being outsourced heavily.

[@mikeall7012]

I work at a nuke that has a GE design. I can speak to the consumer side, regarding power. Like you said, it is complicated. They have not adapted well to fit the need of the consumer and have spent too long knowing most of the plant with their design would never dream of obtaining 3rd party support for maintenance and new upgrades. I have many many examples. I'll put it this way, they make westinghouse look like an innovative well run machine... if anyone is interested I can tell a tale or 2.

[@misterrickschannel2238]

Edison didn't invent the light bulb, he simply perfected what already existed.

[@NotOurRemedy]

Rick Carlstrom he made the light bulb work essentially. Use electricity to make light is easy. Reliably, effectively, affordable is such a different thing

[@hydrogendiamond5830]

Yeah, that's how the progress in inventions work. After one is made people often improve on it, making it more affordable and convenient for the public. Look up the history of the phonograph, it's a good example of this.

[@leechyfruit4464]

@SmokeFan2014 They're not, because they are telling the truth. So why are YOU trying to erase history.

[@tristanheaton2127]

I mean that's what 99% of inverters do no one works alone

[@AlexTraxxas]

GE is kicking ass in the railroad world.....

[@TheCandoRailfan]

That's what I was thinking when I clicked on this video.

[@TheCandoRailfan]

All EMD has done in recent times is the SD70ACe-T4 in 2015, and only UP has bought any. The ES44AC and ET44AC is what everyone is buying, not the SD70ACe-T4. Yes, CP and NS and others are rebuilding locomotives, of both the GE and EMD variety. But, for GE locomotives, who are they turning to to rebuild them? GE! They rebuild them.

[@AlexTraxxas]

EMD used to make the best locomotives of all time, but then Progress Rail turned it into a shitshow.

[@gilangmahesa3112]

And also aircraft engine

[@TheCandoRailfan]

Brennan Conway, lol, look at CN and all the ES44AC's and ET44AC's they have.

[@RobertMorgan]

Ever since it was revealed in 2008 that GE was doing business with Iran, they were done. Also keep in mind that Fukashima nuclear power plant was designed and built by GENERAL ELECTRIC, and at the time was known to be unsafe.

[@charismatic9904]

Funny since people still love that asswad Obama even though he gave iran 4 billion dollars and freed 21 isis soldiers.

[@charismatic9904]

@Coby Brady israel is better than iran

[@Sabundy]

@@charismatic9904 how so? Iran isnt treating another people as sub humans, and their soldiers arent shooting unarmed children and pregnant women. That alone means they arent violating human rights as badly as Israel.

[@charismatic9904]

@@Sabundy proof? Oh right its easy to talk shit without proof. Typical leftist behavior

[@jakekaywell5972]

@@charismatic9904 He's talking about the ongoing Israel-Palestine conflict, which is equal parts bloody and convoluted. I find Israel to be grossly over-reaching their authority concerning their treatment of Palestinian citizens. This quote from Amnesty International, a well-known NGO focused on human rights, has this to say: "Israel continued to impose institutionalized discrimination against Palestinians living under its rule in Israel and the Occupied Palestinian Territories (OPT). Israeli forces killed 38 Palestinians, including 11 children, during demonstrations in the Gaza Strip and West Bank; many were unlawfully killed while posing no imminent threat to life." I'd say it's pretty self-explanatory that Israel is doing particularly awful things right now.

[@get_emld]

GE in the complete opposite in the Aviation World, they are kicking ass selling jet engines.

[@csanton3946]

They should just spin off that business and let it fly in the engine world. Those engineers dont need the distraction and pressure coming from corporate.

[@willburns497]

I put in over twenty five years and was invested heavily in stock. Jack Welch (nutron jack) is the culprit dismantling the company. I worked in finance and could flood your ears with foolish and stupid moves by Jack and his protease gang. We all tried to advise them to stop wasting company funds. All the top was filled with puffed up, know it all show offs. Most all the units sold off now make very good and stable returns.

[@phade2blaq]

I had fam members who worked in the 1970s and 1980s in Louisville KY at their appliance park and that's around the time Jack Welch showed up and decimated appliance park in Louisville KY which is now owned by Haier I believe. He moved 80% of the work to Mexico.

[@famousbowl9926]

Is your first name actually Montgomery?? ;)

[@333panda]

*stares at GE fridge* cries

[@WilliamLeeSims]

I remember being a kid in the 70s and I saw "GE" on every bit of electronics and the commercials were always playing: "GE.... we bring good things to life!" It's fairly shocking to me that it's struggling now. While I hope they have a future, that really comes down to getting the right employees and right ideas.

[@fermainjackson2899]

What happened......??? Poor management. That's all it takes to ruin a great company....😎👎

[@chromosoze]

cool sunglasses thumbs down

[@jakekaywell5972]

Studebaker-Packard will attest to this.

[@greentriumph1643]

Worked for them as an engineer and project manager in the late 1980s. I was excited to work their and waited to learn the "GE Magic" that Jack Welch had. I left 4 years later still waiting to learn. I felt that their quality and management was very over rated even then. They had a good run. Time to move on.

[@nukecity20]

I think a video on the Disney 21st century Fox acquisition would be very interesting.

[@nukecity20]

@Majime My bad

[@michelinman8592]

I grew up with GE lightbulbs and appliances, and still live with said bulbs and appliances. The fact that they're (potentially) crashing is appalling; and their lighting segment only brings in 2% of revenue when it's all I see in a store's lighting section!? And to think that it's the same company which made my great aunt's stove, which has run like a clock since 1952. What has this world come to?

[@machintelligence]

You obviously never had to repair a GE appliance. GE loves their parts, so much that they hate to sell them and they charge accordingly. $400 GE range, needed a new clock -- serviced as a unit (no clock motor available) $235.

[@DrunkenGuitarGuy]

how long do your light bulbs last now?? not hard to see the problem there

[@michelinman8592]

Everybody is that way nowadays; they want to move product, not parts. Maytag is worse than GE's newer appliances; I know this as it's happened to me several times. Every Maytag I've had fell apart around 4-5 years, and had to be outright replaced at 6-7 years.

[@michelinman8592]

OK, you got me there. And with LED's being commonplace, incandescent bulbs are just about obsolete (except for specialty applications...)

[@jeffdorris5321]

GE appliances is owned my a Chinese company. They are not even American anymore they just slap a GE logo on the appliances.

[@wz8881]

My brand new GE dishwasher died within 1 year and customer service was upset that they had to replace it!

[@RJARRRPCGP]

@WZ88 Haier bought the appliance division.

[@PauleyDucati]

A friend worked for GE Fleet Financing for over 30 years. Their fleet vehicle financing department was run by terrible management structure after terrible management structure ever since GE bought out the smaller company this friend started working when she was very young and absorbed all over their employees etc. When the economy stuttered in 2008 they tried pulling out of Michigan to consolidate the midwest market in Chicago. My friend was the only sales consultant in Michigan but because she was so good at her job, was so knowledgeable and had such a strong reputation with the customer network here, they let her stay and work from home remotely when they closed their sales offices in Michigan. She worked from home for a few years and eventually they wanted to completely pull out of Michigan. Due to her knowledge and excellent work performance they could not just fire her so they did what a lot of companies will due to get around this. They played games with her annual quotas and sales goals until they made the numbers so unrealistically high and unobtainable that there was no way to meet them even within a strong stable economy... and this was all during a decline. They ended up firing her for this. There are a lot of worse things done by corporations throughout time but because she was such a long time loyal and capable employee, this story always stuck with me. It made me HATE GE altogether even though this was merely one department within one of the biggest corporations in the world.

[@spankyx813]

You're videos are always very interesting. Great detail with every video I've seen from Company Man.

[@efraindunn]

*on a date* guy: i watch company man, do you? girl: company who? guy: yeah we should break up

[@madalynnbarnlund4866]

ayyymate 😂😂😂😂😂

[@verdatum]

Dude, fail. Next time: guy: I watch company man, do you? girl: company who? guy: Oh damn, you're in for a treat. Company Man binge and chill.

[@RebelKitty19]

Their logo looks like an *"H"* to me

[@tatfung]

I was in their Healthcare division, and their bad leadership probably contributed quite a bit to this situation. Reducing headcount is nothing new but they really make the teams so understaffed that those who were still there couldn't bare all the extra workload and left. (At least in the healthcare side) They have bought some good companies with good brand image into GE, however, those tech people ,who knew what they were doing and know the do's and don'ts in the R&D, were put into the unfamiliar frontline or management duty and they generally don't like that. The result is tech people left the company, GE only got some product brand name but without the development experience and knowledge, and product quality suffers and features aren't competitive anymore

[@hansvongruber3214]

Love your videos Company Man and Keep up the good work on your videos.👍👍👍👍👍

[@beaviswealth]

Buy the stock now, check back in 15 years.. I say you'll be one happy camper! 😉

[@alphared4655]

Brandon Beavis Investing I don't know.....with the way things are going it's weird. I don't trust this stock.

[@littlerhino2006]

Or they could be folded up and put away like most retail stores.

[@timberman2023]

Brandon Beavis Investing I agree. New leadership, down size the company, reduce debt is the way to go. Now would be the time to buy the stock and sit on it.

[@nachteldantes4990]

They've had a good relationship with the government, and with the new management, I can see many people, including the government subsidizing their efforts. They'll slowly climb back out of this hole like they did back with the recession.

[@TheJttv]

*Brandon Beavis Investing* they have invested heavily in green technology they are not going anywhere.

[@jamesfarrell1116]

GE just said to Enron hold my beer and i will show you how to cook some books.

[@danielwwe223]

Love the Video, would love to see an update and one on Tuesday Morning

[@VIM365]

Can you please do the decline of Hastings?

[@jaciemybeloved]

I second this

[@Frygonz]

Cookie Crumbler I really miss my town's Hastings.

[@yokedmonster]

Yes yes yes

[@oquinnblount9329]

I used to work for Hastings. Miss that place.

[@sixletters9759]

Besides a town in the UK, what is Hastings???

[@InfernoBlade64]

How Edison screwed Tesla now everyone is using Tesla's inventions and mocking general electric

[@ctc514]

What Tesla inventions are we using?

[@natehiggins2487]

CTClarke Elon Musk cars that set itself on fire or Elon Musk rockets that blows itself up or an Elon Musk tube that obliterates people with the slightest crack. /s

[@ctc514]

Nate Higgins Elon Musk has nothing to do with Tesla, He just owns a company called Tesla

[@Legoguy1979]

CTClarke Have you heard of Alternating current? That's what Tesla with the help of Westinghouse created while Edison had developed Direct current.

[@ctc514]

Zachary Solomon yeah, but we arent just now using ac current, we've been using it, has nothing to do with tesla rising and edidon declining

[@buffyVampslyr364]

Haha that's what the first season of 30 Rock is so heavy on GE product placement, because they owned NBC. 😂

[@ReluctantCriticDude]

Talking to former employees, GE is very ridged internally. Top down management and poor employee delegation. Stifles creativity and innovation possibly which is why they need to buy other companies that are not like that to try and remain relevant. Great people at GE but needs a culture change.

[@MatthewCobalt]

Note: Thomas Edison did NOT invent the light bulb. He made it cheaper to reproduce. Saying Thomas Edison was the inventor of the light bulb is like saying One man invented Television. Unlikely and hardly believable, historically speaking.

[@mrbdx]

Matt Cobalt Thomas Edison DID invent it. But it was Lewis Latimer who IMPROVED on Edison’s invention and it was Latimer’s improved design that we still use today.

[@MatthewCobalt]

Does this apply as evidence? www.energy.gov/articles/history-light-bulb "Long before Thomas Edison patented -- first in 1879 and then a year later in 1880 -- and began commercializing his incandescent light bulb, British inventors were demonstrating that electric light was possible with the arc lamp. In 1835, the first constant electric light was demonstrated, and for the next 40 years, scientists around the world worked on the incandescent lamp, tinkering with the filament (the part of the bulb that produces light when heated by an electrical current) and the bulb’s atmosphere (whether air is vacuumed out of the bulb or it is filled with an inert gas to prevent the filament from oxidizing and burning out). These early bulbs had extremely short lifespans, were too expensive to produce or used too much energy." "When Edison and his researchers at Menlo Park came onto the lighting scene, they focused on improving the filament -- first testing carbon, then platinum, before finally returning to a carbon filament. By October 1879, Edison’s team had produced a light bulb with a carbonized filament of uncoated cotton thread that could last for 14.5 hours. They continued to experiment with the filament until settling on one made from bamboo that gave Edison’s lamps a lifetime of up to 1,200 hours -- this filament became the standard for the Edison bulb for the next 10 years."

[@ebenuke]

FINALLY! I THOUGHT I WAS THE ONLY ONE WHO THOUGHT THIS! THANK YOU!

[@ckm-mkc]

Bad analogy, one man did invent television, Philo Fransworth - en.wikipedia.org/wiki/Philo_Farnsworth#Electronic_television

[@MatthewCobalt]

ck m It's actually more complicated than that. Here is my source: kzbin.info/www/bejne/hIbEoKqZjbanhdE

[@bio3m]

Quiznos!!! What happened Company man?!

[@patrickmarsh2538]

Nothing? I still hear ads on the radio about them

[@motorin25]

I was wondering the same last night my self. Turns out they closed probably around 3/4 of their US locations and filed for chapter 11 bankruptcy, and I hadn't heard of them in probably a decade. I'd have to drive an hour and 15 minutes to get to my nearest location according to google. It would be interesting to hear the rise and fall and potential rise. I loved the one that was by my work in 2005 - 08.

[@OrderOfTwisted]

Damn before reading this comment I haven’t heard of Quiznos in YEARS... probably 10 years. Wow. There’s none in my area.. Are they still around?

[@user-jp8zs4bu1y]

Yes please make the video

[@ryan82scott]

Subway?

[@GeorgiaOverdrive]

Love the days when Letterman used to make jokes about GE when they owned NBC.

[@chrisholdroyd3555]

Current ratio .67. They are two quarters from Chap 11.

[@vegetojr1]

You should talk about heelys

[@yokedmonster]

Brandon Brown why would he do a vid on those when agamerfrommars already covered it

[@dosbrostacozzinc.6856]

yokedmonster because this is a different channel.

[@dosbrostacozzinc.6856]

Brandon Brown I thought that company totally died put but a few weeks ago I looked them up randomly and it turns out that there is a whole ass website still there. Surprised me.

[@Beau4824]

Hahaha

[@erinmeak801]

You should do Cisco!

[@texasyojimbo]

Indeed! Cisco is sort of the GE of the IT world... got into everything and now trying to spin stuff off.

[@eigrp]

John Chambers always told us, "Deal with the world how it is, not how you'd like it to be." I think he got that from Jack Welch (speaking of GE). Anyway, that's exactly what Cisco hasn't been doing for a long time. They've remained far too dependent on selling high-margin, largely proprietary hardware. I.e. big network switches and routers tied to even bigger service contracts. Over half of what keeps Cisco's lights on is being commoditized and open-sourced right out from under them. They remain in denial.

[@caturdaynite7217]

Nice job on this video. I don't even follow the markets and heard they were having trouble. I'm not really connected to the financial world, except for interest rates to manage my debt. I'm a repair tech and I would love to hear a story about Cisco. I earned my CCENT in 2009 and my CCNA certification in 2010. And never went any further and never re-certified, because I do not see that much enterprise level equipment. I work with SOHO and residential. And you only see LinkSys in residential clients. Never Cisco. Using the CLI (Command Line Interface) doesn't come up that much for me. It's good know. I found the education from their books to be good. Also, look at Chris Bryants channel here on youtube, if you are studying for any of these certs. I also enjoyed learning and filling the gaps my Network+ certification didn't cover very well. Especially subnetting and the OSI model. My Net+ was completed in 2000, so I needed a booster shot of knowledge in 2008. And it's helped quite a bit. From a techs point of view they make good stuff, but it's for bigger clients that can afford them. Most people hook a belkin switch to their ISP supplied stuff and then they wait until they need me. Then I throw the belkin switch out and replace it. Anyway, I'd love to hear about Cisco.

[@nerychristian]

Same for Dell and HP

[@ECrespo175]

Caturday Nite cisco is big in the enterprise market and service provider space. Most of the network engineer postings ask for cisco experience.

[@jamesberlo4298]

This is sad , Edison was a real maggot of a Man , Westinghouse & His Co. was truly awesome and has a fantastic history.

[@billl1127]

I worked for Westinghouse in the 80s. It's amazing how quickly a stalwart of American innovation and technology was run into oblivion by stupid management decisions.

[@matthewronson5218]

Westinghouse (the man) was no better than that arse hole Edison and Westinghouse was also a thief and swindler.

[@Call-me-James]

Many years ago, GE's motto was "Progress is our most important product". Their focus, going all the way back to Thomas Edison, was on innovation. I think the problem today is that there are now tons of companies that are focused on innovation, and these companies have access to all the low-interest capital that they can use. The only thing left for GE is to build things like jet engines and power stations - things that are just too big for smaller competitors to build. I hope they are successful !

[@davidmoss4061]

I think that this is spot on - there was and is a huge amount of confusion at the top levels of the company . Jack Welch ran the company and was a hateful and arrogant man who was ‘sweet talked’ by many useless people. One ended up running Home Depot and he was kicked out after 2-3 years. The idea was that with the proper tools the company could use its resources to innovate and grow. The mantra to Grow and Innovate is great - but the tools that were used were designed to check upon what was already created. Nothing ‘new’ comes from looking backwards. I worked as a contractor at GE Capital in 2015. I got to see up close and personal what had happen to GE is what happened to the rest of the US companies over the last 30 years - they let the older and more experienced mangers and leaders go or sent them into retirement or just let them get out when the getting was good. Rinse and Repeat. By the time I was working at GE no one really knew how to run the place. The company was left to be run by the people who could not figure out how or when to leave. With a leadership that was mostly ok management the opening for decline by cooking books and other mismanagement grew large and easy. I think that it will take more than a few fixes to get the General back on track

[@daggylmcgra9653]

@David Moss; Sounds depressingly similar to some companies I know. Yes I believe you know what you're talking about!

[@sparsparkster]

Sounds like you're talking about GM today.

[@jeffreyhueseman7061]

Let them find rock bottom and then rebuild.

[@Orsbore]

The heck with GE! I know lighting isn't a large part of their business, but their spiral florescent bulbs are garbage. I bought eight of them two years ago. Four of them are fine, but four of them burned out within two weeks. I think they make them poorly on purpose so you'll have to buy more.

[@billl1127]

GE has had a poorly performing commercial and industrial lighting division for years. GE has failed to find a buyer for 15-20 years so in flounders along.

[@leifharmsen]

Fukushima burned out and melted down too. Crap GE reactor, totally unsafe.

[@markw5805]

Those GE appliances you spoke of are designed by the same engineers that designed them before, just reporting to a different parent company. It was a good move for us to get out from under them.

[@AgentSmith911]

Amazing that this modern version of Enron is still in existence.

[@johnrenaud690]

Gullible much? Enjoy reading the National Enquirer. 😄

[@jonathandetournillon]

GE has been a long running company. From kitchen stuff to the largest jet and military engines. Enron was a joke hahaha

[@kevinbyrne4538]

Let's see: their power business is losing Huge amounts of money, so -- let's Sell the parts of the corporation that are Earning money and Retain the parts that are Losing money. Why can't I be a CEO ? I can lose money as fast as anyone else. I can make stupid decisions that don't make sense. Want to waste a billion dollars ? Hire me !

[@AdamSmith-gs2dv]

Kevin Byrne Power isnt the problem, it was profitable before they bought that bastard of a company called Alstom

[@kevinbyrne4538]

@Adam Smith -- possibly. But they're Retaining Alstom. They're sinking and they're clinging to the anchor that's pulling them under water.

[@AdamSmith-gs2dv]

Kevin Byrne Sadly they have to retain it or Macron will have a big hissy fit

[@frankschneider6156]

Kevin Byrne Everybody knew Alstom was just a zombie. Clinically dead but still moving when they acquired it. And I'm sure that they signed contract's with long-term job guarantees etc, so that nobody else will be stupid enough to take it, if not being pay enormous sums for taking it. So keeping it and trying to turn it around might indeed be a smarter thing, especially as the energy market is guaranteed to grow in the future. I'm not sure why they want to exit the healthcare market. Profit margins are high, this is also a growth market and building such devices are core competence of GE, just like turbines. That they kept their lighting business for too long was obviously a management fault. Siemens and Philips got rid of theirs already half a decade ago.

[@t6amygdala]

same

[@theslimyitalian]

The company behind Necco & The candy hearts just shut down. You might wanna make an update video about that

[@krunkologist]

Just gonna done replacing GE kitchen appliances which were new in 2012 in our new home. I just want everyone to know the dishwasher and microwave were crap.

[@aeroscottmodelenginerepair2830]

My GE refrigerator of that same time period was TOTAL JUNK. It could be heard running thruought the house and we were told by a service tech that this is normal. After 4 years of use it failed, good riddance to GE appliances for ever!

[@Sekushiwolf]

Sad part is that we still own a small GE fan from the 70s that runs great as old as it is. There was an estate sale here about a year ago and the guy who owned the house clearly worked for GE since ALL the appliances in the house were GE. Which is sad seeing that they used to make great long lasting products.

[@seana806]

I have a GE fan from the early to mid 50’s that still works, moves tons of air, and fairly quiet. GE made long lasting appliances many years ago but started cutting corners in the late 80’s and early 90’s since their washers made after 1995 had a weak transmission that would wear out in fairly short order, a friend of mine told me he once knew someone who had one of those GE washers that didn’t even do 400 loads before it’s transmission gave up the ghost. Whirlpool soon took over as the largest appliance manufacturer after that since they made dependable appliances that were easy to repair and diagnose if a problem developed, Maytag was the same as well.

[@AttommicDog]

I bought GE at almost $30. I hate my life.

[@bananya6020]

Rest in Peace. Thankfully I'm too young to invest in stocks, but I'm angry my mother didn't buy bitcoin in 2015 when I told her to! I looked at Bitcoin and said, "There's not infinite money like most money. As long as someone buys some bitcoin, the value can only go up" lol.

[@stephanesonneville]

Me at $16. Don't worry it will rise again and there's 3.5% dividend !

[@leftyleftistspeaks]

Electroblade Your mother was smart.

[@Jam5zW]

Electroblade Please continue to listen to you mother.

[@Crazyasian123456]

I feel your pain

[@chicagodog3171]

Also GE used to make Locomotives, then there was this Wabtec merge with the locomotives

[@bryanleverett2830]

This video is a lot of foreshadowing lol. This guy should make a follow up video like YESTERDAY and link it to this older video

[@PhilipX2030]

Thank you. Informative. Well put together

[@henrybrown4658]

You should do 3M as your next Bigger Than You Know. When I think of 3M, I think of adhesive, but they also make toothpaste and other products too. I want to know more about this company and how they got to become such a large one.

[@thesauce6107]

Having mentioned Comcast, you should do a video on them. They're the single most hated company in the country, yet remain one of the biggest in their field. Would be interesting to see how they got to this point.

[@georgehill8285]

Funny thing, you know the NBC three tone chime? It’s actually a musical joke, as the notes are a G, E, and C, for “General Electric Company.”

[@af2828]

I think they’re biggest issue is the logo. If you see it, it reminds you of a grandma. That might be good for old people but for younger folks it just doesn’t look modern. And that is the first impression.

[@tinman63]

Immelt-ed down.

[@watershed44]

tinman63 Indeed Immelt is guilty of fiduciary malfeasance and should be arrested and put on trial for this.

[@frankschneider6156]

Being inept is afaik not a crime (or we'd need a LOT more prisons) and iirc he was continuously re-elected by the majority of the shareholder. So where is the problem ?

[@watershed44]

Frank Schneider Except we're speaking of an highly paid, intelligent, highly educated and experienced CEO. He is supposed to be an "expert" in his field, correct? If he would have resigned early when problems were just arising I'd agree with you, but he did NOT and knowing his background it DOES make him guilty of criminal negligence, the only reason the shareholders re-elected him was because he was HIDING the signs of his inability to deal with issues. Time to start holding these white collar criminals responsible for their actions.

[@Clipper1094]

I'll be honest, my core interest in GE stems from Jack Donaghy from 30 Rock.

[@singingislife18]

GE is based in my home town. As an observer of what has been going on, you can see them downsizing by firing a lot of people (there was a huge protest), knocking down a lot if buildings, and just minimizing everything. Yes, they still are huge but these minimizing tactics keep me watching. If GE goes down our entire town may go down.

[@sachikoaichan]

@@Jj-gi2uv GE didn't completely leave the country, they moved part of their operations from upstate NY to Texas. I honestly wouldn't be surprised if the only reason that GE is still in Schenectady, is because they're covering up pollution or something.

[@cigarr3870]

I would love to hear you go into depth on investing and the stock market. You have a very pleasing voice, you seem knowledgeable and the material is interesting to a good section of folks that watch your stuff already. I'd love to know how the dow thirty are chosen, and what is required for a company to be replaced. THanks for some of the better content on youtube.

[@oddmanout4256]

Anyone else sad about these once great American companies seeing their downfall?

[@shaebae5133]

Nathan Gerrin Very!

[@massivereader]

It's all down to the "Harvard MBA" mindset that became prevalent in the seventies. Prior to that, most American companies were run by people who had practical experience with the products and the industry and relationships with the workforce and the communities that supported their businesses. That was replaced by the 'fungible' management concept where people with no ties to the company were supposed to be just as adept at running the business as those that had made a career there. The predictable happened. Every company started making decisions made on the next quarters earnings, pushing the limits of profitability and following market fads in making acquisitions where they had no expertise. This diversion of capital resulted in shorting research & development, putting off maintenance and not making capital improvements to update their production facilities, then they eventually moved everything overseas to hide the consequences of their actions.

[@billl1127]

Yes, Westinghouse was an American icon.

[@ben-vf]

massivereader Yeah. ...what you said.

[@allgoo1964]

massivereader says: "It's all down to the "Harvard MBA" mindset that became prevalent in the seventies..." == Neoliberalism aka Reaganomics.

[@ChuckKeough]

I bet Morgan Stanley had a big stake in G.E.

[@Funni-guy99]

Of topic my dad used to work there

[@thedwarfgimli5323]

First Buster1999 my mom did too. But she was just a bank cashier for a Morgan Stanley/ dean witter. Still was an amazing job with benefits and earning like 50,000/yr

[@ChuckKeough]

Good for your mom. awesome moms are the best, kicked butt at scoring a most excellent job to better provide for you and your family.

[@Saurabh_3084]

Can you do a video on Philips? it has a very interesting history of starting as a light bulb company, to creating CDs, casette players, TVs, shavers to now being a healthcare company.

[@chriswaltman5313]

Company Man, could you please make one of these videos about the fall of KFC? It went from the business standard to the business joke.

[@Speeskees]

Please do a video on Heineken or Phillips, or any other big Dutch company

[@bandombeviews6035]

Cheese Phillips would be really interesting i think

[@verdatum]

If Dutch, then you mean Philips. Not to be confused with Phillips 66/ConocoPhillips, an American petroleum company that was split up.

[@Speeskees]

verdatum yeah sorry for the typo. I do mean Philips

[@RacingWorldTV202]

Decline of Sears would be interesting to see! I know you did one for Kmart but Sears has a very interesting back story worth its own video, especially with how they were like Amazon in the mid-1900s.

[@juniyananajukyu]

That acquisition of Baker Hughes was doomed and Immelt fucked up by acquiring them. They swooped in after the Halliburton-Baker merger deal fell through due to non approval by the SEC. Then the oil glut hit and definitely hurt them. But then again, CEO could give a shit. He’s got a severance in the millions while your neighbor tries to figure out how to get on unemployment. It seems like the same ole bs with publicly traded companies.

[@mywirsrxed]

Please do a Westinghouse video!!!

[@TheCandoRailfan]

Considering how well GE Transportation is doing with locomotives right now, and knowing what the rest of GE is, I never would've guessed GE is considered to be on a decline. Very interesting.

[@DrunkenGuitarGuy]

why do people keeping saying this, they have sold their rail business money.cnn.com/2018/05/21/news/companies/ge-rail-transportation-deal-wabtec/index.html

[@DiegoMartinez-jv1tv]

One of the things that people don't realize is that GE was partially responsible, along with researchers at Bell Labs and MIT, for creating Multics - a mainframe operating system which was the ancestor of Unix, which is what most servers run these days.

[@apl175]

I believe there's a field in /etc/passwd called the GECOS field that has that history with GE. As a side note, Intel's integrated graphics started with the acquisition of 3D imaging technology from GE Aerospace - this is what became the Intel740 integrated graphics processor - and later Intel GMA, HD, and Iris of today.

[@PuntingKidz]

I lived in Schenectady NY (old GE world hq is here) I for most of my life, you could really watch GE slow down and die through that time

[@SignOfTheTimes008]

Actually I remember hearing "Thomas Edison is most well known for his invention of the light bulb. Contrary to popular belief, Edison did not invent the light bulb; it had been around for a number of years. The electric lights at the time, however, were unreliable, expensive, and short-lived." Not sure if that is entirely accurate.

[@78anurag]

No it is true. While he did not invent the bulb, he did invent one which stayed on for more than 2 seconds