Guys' Point of View

Life and business perspectives told from a Guy's point of view!


American Genius: Thomas Edison harbored a big grudge when the
newly formed General Electric Company was not named after him

Founded in 1892, the General Electric Company (GE) was an early innovator in electric lighting and power and set out to dominate the American electrical industry. On this day in that same year, GE is traded on the New York Stock Exchange for the first time - about two months after the Edison-Houston merger that created it and arranged by financier J. P. Morgan. World headquarters for the company were established in Schenectady, New York.

Miffed that his name did not adorn the new company, Thomas Edison attended his first, last, and only board meeting in August 1892. "I will not go on the board of a company that I don't control," he growled before selling all his GE shares. Edison did remain as a consultant to the company so that he could continue to collect royalties on his patents which remained. Four years later in 1896, GE was one of the original 12 companies listed on the newly-formed Dow Jones Industrial Average. GE is the only one that still remains today.

1 comments

  1. TheStrategist  

    If you want the complete, unbiased strategic perspective of GE from its beginning to the present read my new book: The Secret to GE's Success and my blog GEWatcher (www.strategyleader.com). It provides insights into why GE has been successful, covers its failures and summarizes the success factors in one word LATIN.
    The book is available on all BOOK STOR sites and AMAZON.

    Bill Rothschild,Rothschild Strategies Unlimited LLC

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