72-455: The Broadmoor Manitou and Pikes Peak Cog Railway (also known as the Pikes Peak Cog Railway ) is a cog railway that climbs one of the most iconic mountains in the United States, Pikes Peak in Colorado . The base station is in Manitou Springs , near Colorado Springs . Construction on the line was started in 1889 and the first train reached the summit on June 30, 1891. Cog railways are common in Switzerland and found in other parts of
144-533: A $ 3 billion deal and also bought a $ 1.6 billion portfolio of retail credit cards from Citigroup Inc. On October 14, 2010, GE announced the acquisition of data migration & SCADA simulation specialists Opal Software. In December 2010, for the second time that year (after the Dresser acquisition), GE bought the oil sector company Wellstream , an oil pipe maker, for 800 million pounds ($ 1.3 billion). In March 2011, GE announced that it had completed
216-480: A complete refurbishment that saw the replacement of the track infrastructure, the rebuild of older railcars and the purchase of three new trainsets. The idea for the railroad came in 1888, after a trip to the summit by inventor Zalmon G. Simmons , who had founded previously the Simmons Bedding Company . Simmons had designed a wooden telegraph insulator while on the board of directors of Western Union , and
288-526: A controlling interest in the company, while GE would retain a 49% stake and would buy out shares owned by Vivendi. Vivendi would sell its 20% stake in NBCUniversal to GE for US$ 5.8 billion. Vivendi would sell 7.66% of NBCUniversal to GE for US$ 2 billion if the GE/Comcast deal was not completed by September 2010 and then sell the remaining 12.34% stake of NBCUniversal to GE for US$ 3.8 billion when
360-492: A deal with the city of Manitou Springs that would provide $ 36 million in tax breaks for the railroad over a 50-year period if the company completed the upgrades. The agreement was signed on November 20, 2018. The major refurbishment project would involve the near-complete replacement of the track infrastructure, the rebuild of facilities and older railcars and the purchase of three new trainsets. Starting in March 2019, crews ripped up
432-449: A diesel-electric locomotive, two coaches and a control car , and marked a return to locomotive-hauled trains. Additionally, a snowblower (No. 30) was ordered from Stadler's partner, Zaugg AG Eggiwill of Switzerland. The snowblower has a diesel engine to turn its blades, but it is not self-propelled and instead acts as a control car and pushed by one of the Stadler locomotives. In February 2021,
504-577: A division of GE called GE Information Systems (GEIS). The new company, named GXS , is based in Gaithersburg, Maryland . GXS is a provider of business-to-business e-commerce solutions. GE maintains a minority stake in GXS. Also in 2002, GE Wind Energy was formed when GE bought the wind turbine manufacturing assets of Enron Wind after the Enron scandals . In 2004, GE bought 80% of Vivendi Universal Entertainment,
576-565: A few years later with Thomson-Houston Electric Company , led by Charles Coffin . In 1887, Hart left to become superintendent of the Edison Electric Company. General Electric was formed through the 1892 merger of Edison General Electric Company and Thomson-Houston Electric Company with the support of Drexel, Morgan & Co. The original plants of both companies continue to operate under the GE banner to this day. The General Electric business
648-417: A fleet of self-propelled railcars in 1964, purchasing two units (#14 and #15) from Swiss Locomotive and Machine Works (SLM), which would be similar to equipment used on many Swiss cog railways. The air-cooled, 8-cylinder diesel engines in the first units proved to be less than satisfactory on the railroad above the tree line and were replaced by water-cooled engines. The railcars proved to be a good addition to
720-507: A joint venture in steam turbines, plus a €3.1 billion cash investment. In June 2014, a formal offer from GE worth $ 17 billion was agreed by the Alstom board. Part of the transaction involved the French government taking a 20% stake in Alstom to help secure France's energy and transport interests and French jobs. A rival offer from Siemens Mitsubishi Heavy Industries was rejected. The acquisition
792-467: A long-time Edison supporter and investor, proposed to consolidate all of business interests. The proposal was supported by Samuel Insull - who served as his secretary and, later, financier - as well other investors. In 1889, Drexel, Morgan & Co. —a company founded by J.P. Morgan and Anthony J. Drexel —financed Edison's research and helped merge several of Edison's separate companies under one corporation, forming Edison General Electric Company, which
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#1732859315610864-509: A manufacturer of dynamos and large electric motors in Schenectady, New York ; Bergmann & Company, a manufacturer of electric lighting fixtures , sockets , and other electric lighting devices; and Edison Electric Light Company, the patent -holding company and financial arm for Edison's lighting experiments, backed by J. P. Morgan (1837–1913) and the Vanderbilt family . Henry Villard,
936-538: A rockslide in 1990. This line's lower terminus was adjacent to the Cog Railway base station in Manitou Springs. The Manitou Incline averaged almost a 40% grade, gaining 2,011 feet (613 m) in elevation over a length of approximately 1 mile (1.6 km), with the maximum grade being 68%. The Manitou Incline was initially built in 1907 for use in the construction of city water lines and a hydroelectric plant. When
1008-463: A stake in the line. Penrose was the owner of The Broadmoor , a well-known hotel in Colorado Springs. Under the control of Penrose, there was an effort to find more economical ways to operate the line. To that end, gasoline -powered railcar #7 was constructed in 1938. The railcar was intended to be a cheaper alternative to operating steam locomotives during quieter times of the year. The railcar
1080-513: Is one of GE's four multifunctional shared services centers worldwide in Pudong , China; Budapest , Hungary; and Monterrey , Mexico. In April 2015, GE announced its intention to sell off its property portfolio, worth $ 26.5 billion, to Wells Fargo and The Blackstone Group . It was announced in April 2015 that GE would sell most of its finance unit and return around $ 90 billion to shareholders as
1152-628: The Fortune 500 as the 33rd largest firm in the United States by gross revenue . In 2023, the company was ranked 64th in the Forbes Global 2000 . In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE— Irving Langmuir (1932) and Ivar Giaever (1973)—have been awarded
1224-559: The DATANET-30 and Datanet 355 message switching computers (DATANET-30 and 355 were also used as front end processors for GE mainframe computers). A Datanet 500 computer was designed but never sold. In 1956 Homer Oldfield had been promoted to General Manager of GE's Computer Department. He facilitated the invention and construction of the Bank of America ERMA system, the first computerized system designed to read magnetized numbers on checks. But he
1296-497: The Multics operating system on the GE 645 mainframe computer. The project took longer than expected and was not a major commercial success, but it demonstrated concepts such as single-level storage , dynamic linking , hierarchical file system , and ring-oriented security . Active development of Multics continued until 1985. GE got into computer manufacturing because, in the 1950s, they were
1368-566: The NBC television network for $ 6.28 billion; this merger surpassed the Capital Cities/ABC merger from earlier that year as the largest non-oil company merger in world business history. The remainder of RCA's divisions and assets were sold to various companies, including Bertelsmann Music Group which acquired RCA Records . Thomson SA , which licensed the manufacture of RCA and GE branded electronics, traced its roots to Thomson-Houston, one of
1440-543: The National Broadcasting Company (NBC), which built two radio broadcasting networks. In 1930, General Electric was charged with antitrust violations and was ordered to divest itself of RCA. In 1927, Ernst Alexanderson of GE made the first demonstration of television broadcast reception at his General Electric Realty Plot home at 1132 Adams Road in Schenectady, New York. On January 13, 1928, he made what
1512-564: The Nobel Prize . Following the Great Recession of the late 2000s decade, General Electric began selling off various divisions and assets, including its appliances and financial capital divisions, under Jeff Immelt 's leadership as CEO. John Flannery, Immelt's replacement in 2017, further divested General Electric's assets in locomotives and lighting in order to focus the company more on aviation. After restrictions on air travel during
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#17328593156101584-626: The transmission of electrical power . In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average , where it remained a part of the index for 122 years, though not continuously. In 1911, General Electric absorbed the National Electric Lamp Association (NELA) into its lighting business. GE established its lighting division headquarters at Nela Park in East Cleveland, Ohio . The lighting division has since remained in
1656-399: The 9HA. After the break, GE developed new protective coatings and heat treatment methods. Gas turbines represent a significant portion of GE Power's revenue, and also represent a significant portion of the power generation fleet of several utility companies in the United States. Chubu Electric of Japan and Électricité de France also had units that were impacted. Initially, GE did not realize
1728-530: The COVID-19 pandemic caused General Electric's revenue to fall significantly in 2020, GE's final CEO Larry Culp announced in November 2021 that General Electric was to be broken up into three separate, public companies— GE Aerospace , GE HealthCare , and GE Vernova —by 2024. The new companies are respectively focused on aerospace, healthcare, and energy. GE HealthCare's spin-off was finalized on January 4, 2023. This
1800-639: The Denver television station until in 1986, when General Electric bought out RCA and made it into an owned-and-operated station by NBC . It even stayed on until 1995 when it was transferred to a joint venture between CBS and Group W in a swap deal, alongside KUTV in Salt Lake City for longtime CBS O&O in Philadelphia, WCAU-TV . Stations are arranged in alphabetical order by state and city of license . Led by Sanford Alexander Moss , GE moved into
1872-479: The Incline trail through an intergovernmental agreement. Also used to push snowblower #30. Also used to push snowblower 30. Also used to push snowblower 30. To be pushed by a Stadler Hm 4/4 diesel electric locomotive in operation. 38°51′22″N 104°55′53″W / 38.85605°N 104.93130°W / 38.85605; -104.93130 Cog railway Too Many Requests If you report this error to
1944-524: The U.S. Army Air Corps to select GE to develop the nation's first jet engine during the war. This experience, in turn, made GE a natural selection to develop the Whittle W.1 jet engine that was demonstrated in the United States in 1941. GE was ranked ninth among United States corporations in the value of wartime production contracts. However, their early work with Whittle's designs was later handed to Allison Engine Company . GE Aviation then emerged as one of
2016-520: The U.S. and Canada. The exact terms of the sale were not disclosed, but the final price would be based on the value of the assets at closing, plus a premium according to the parties. In October 2015, activist investor Nelson Peltz 's fund Trian bought a $ 2.5 billion stake in the company. In January 2016, Haier acquired GE's appliance division for $ 5.4 billion. In October 2016, GE Renewable Energy agreed to pay €1.5 billion to Doughty Hanson & Co for LM Wind Power during 2017. At
2088-686: The Wikimedia System Administrators, please include the details below. Request from 172.68.168.151 via cp1112 cp1112, Varnish XID 392219396 Upstream caches: cp1112 int Error: 429, Too Many Requests at Fri, 29 Nov 2024 05:48:35 GMT General Electric General Electric Company ( GE ) was an American multinational conglomerate founded in 1892, incorporated in the state of New York and headquartered in Boston . The company had several divisions, including aerospace , energy , healthcare , and finance . In 2020, GE ranked among
2160-443: The acquisition of Hydril Pressure & Control in 2008 for $ 1.1 billion. GE Plastics was sold in 2008 to SABIC (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business. On December 3, 2009, it was announced that NBCUniversal would become a joint venture between GE and cable television operator Comcast . Comcast would hold
2232-455: The acquisition of privately held Lineage Power Holdings from The Gores Group . In April 2011, GE announced it had completed its purchase of John Wood plc's Well Support Division for $ 2.8 billion. In 2011, GE Capital sold its $ 2 billion Mexican assets to Santander for $ 162 million and exited the business in Mexico. Santander additionally assumed the portfolio debts of GE Capital in
Pikes Peak Cog Railway - Misplaced Pages Continue
2304-449: The cog wheels were wearing out twice as quickly as they did in the 1980s. Winter operations were suspended on October 29, 2017, to conduct maintenance on the railway, but crews soon realized more serious repairs were needed and in March 2018 it was announced that the railway would close indefinitely. The Anschutz Corporation , which owned the railway, estimated a full refurbishment of the line would cost $ 100 million. The company negotiated
2376-792: The company expanded into cable with the launch of a franchise, which was awarded to a non-exclusive franchise in Schenectady through subsidiary General Electric Cablevision Corporation. On February 15, 1965, General Electric expanded its holdings in order to acquire more television stations to meet the maximum limit of the FCC, and more cable holdings through subsidiaries General Electric Broadcasting Company and General Electric Cablevision Corporation. The company also owned television stations such as KOA-TV (now KCNC-TV ) in Denver and WSIX-TV (later WNGE-TV, now WKRN ) in Nashville, but like WRGB, General Electric sold off most of its broadcasting holdings, but held on to
2448-404: The company was renamed back to Baker Hughes. In May 2017, GE had signed $ 15 billion of business deals with Saudi Arabia . Saudi Arabia is one of GE's largest customers. In September 2017, GE announced the sale of its Industrial Solutions Business to ABB . The deal closed on June 30, 2018. On August 15, 2019, Harry Markopolos , a financial fraud investigator known for his discovery of
2520-620: The company's longtime stake in television and film media. In April 2013, GE acquired oilfield pump maker Lufkin Industries for $ 2.98 billion. In April 2014, it was announced that GE was in talks to acquire the global power division of French engineering group Alstom for a figure of around $ 13 billion. A rival joint bid was submitted in June 2014 by Siemens and Mitsubishi Heavy Industries (MHI) with Siemens seeking to acquire Alstom's gas turbine business for €3.9 billion, and MHI proposing
2592-483: The construction was finished, the Manitou and Pike's Peak Railway took over the cable car as a tourist operation. From 1990 forward, the defunct Incline had been controversial because, although legally off-limits to the public, its roadbed was heavily used for recreation and exercise by people ignoring the trespassing signs. It became legal to use the Incline on February 1, 2013. Colorado Springs Parks and Recreation manages
2664-522: The country. Following this, GE Capital focused on its core business and shed its non-core assets. In June 2012, CEO and President of GE Jeff Immelt said that the company would invest ₹ 3 billion to accelerate its businesses in Karnataka . In October 2012, GE acquired $ 7 billion worth of bank deposits from MetLife Inc . On March 19, 2013, Comcast bought GE's shares in NBCU for $ 16.7 billion, ending
2736-509: The deal was completed or to the public via an IPO if the deal was not completed. On March 1, 2010, GE announced plans to sell its 20.85% stake in Turkey-based Garanti Bank. In August 2010, GE Healthcare signed a strategic partnership to bring cardiovascular Computed Tomography (CT) technology from start-up Arineta Ltd. of Israel to the hospital market. In October 2010, GE acquired gas engines manufacturer Dresser Industries in
2808-426: The end of October 2016, it was announced that GE was under negotiations for a deal valued at about $ 30 billion to combine GE Oil & Gas with Baker Hughes . The transaction would create a publicly traded entity controlled by GE. It was announced that GE Oil & Gas would sell off its water treatment business, GE Water & Process Technologies, as part of its divestment agreement with Baker Hughes. The deal
2880-633: The firm looked to trim down on its holdings and rid itself of its image of a "hybrid" company, working in both banking and manufacturing. In August 2015, GE Capital agreed to sell its Healthcare Financial Services business to Capital One for US$ 9 billion. The transaction involved US$ 8.5 billion of loans made to a wide array of sectors, including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals, and medical devices. Also in August 2015, GE Capital agreed to sell GE Capital Bank's on-line deposit platform to Goldman Sachs . Terms of
2952-432: The fleet and the railroad purchased two more railcars (#16 and #17) in 1968. As tourism increased in the 1970s the railway needed more capacity. In 1976, the railway took delivery from SLM of two larger railcars (#18 and #19). These are identical in cosmetic appearance to cars 14-17, however consist of two articulated cars. Passing sidings were built at Minnehaha and Windy Point, allowing trains to pass at various points on
Pikes Peak Cog Railway - Misplaced Pages Continue
3024-475: The hill. Trains could previously pass only at Mountain View, permitting only three trains a day up the mountain. Eight trains per day became possible with the new equipment and sidings. Two additional two-car trainsets were added in the 1980s (#24 in 1984 and #25 in 1989). By the 2000s, the rail infrastructure was starting to show its age. Railway managers reported that in 2017 the track geometry had become so poor that
3096-495: The largest user of computers outside the United States federal government , aside from being the first business in the world to own a computer. Its major appliance manufacturing plant " Appliance Park " was the first non-governmental site to host one. However, in 1970, GE sold its computer division to Honeywell , exiting the computer manufacturing industry, though it retained its timesharing operations for some years afterward. GE
3168-489: The new equipment was shipped from Switzerland to the United States, arriving in Manitou Springs the next month. Meanwhile, the city of Colorado Springs (which operates the Pikes Peak Highway ) built a new visitor center at the summit, while the railroad built a new platform. Down in Manitou Springs, the depot received a second boarding track and platform. The line reopened on May 20, 2021. The cost has increased over
3240-452: The new field of aircraft turbo superchargers . This technology also led to the development of industrial gas turbine engines used for power production. GE introduced the first set of superchargers during World War I and continued to develop them during the interwar period . Superchargers became indispensable in the years immediately before World War II. GE supplied 300,000 turbo superchargers for use in fighter and bomber engines. This work led
3312-580: The old manual track switches with radio-controlled versions that would enable faster operations at the passing sidings. While the track work was underway, crews at the railroad shops in Manitou Springs began to rebuild the four two-car SLM railcars (Nos. 18, 19, 24 and 25). Each railcar was converted to the new Strub system, received a new transmission with a retarder for dynamic braking and was repowered with new diesel engines. The railroad also placed an order for three trainsets (Nos. 27, 28 and 29) from Stadler Rail of Switzerland. Each trainset would consist of
3384-451: The old rails, Abt rack system, and wooden ties, some of which had been in place since the line was first built in 1889. Work started at the depot in Manitou Springs and reached the summit in September. In May 2020, crews began working down from the top, laying down metal ties, new rails custom ordered from Poland and a new Strub rack system which featured more robust teeth. Crews also replaced
3456-545: The original components of GE. Also in 1986, Kidder, Peabody & Co. , a U.S.-based securities firm, was sold to GE and following heavy losses was sold to PaineWebber in 1994. In 1997, Genpact was founded as a unit of General Electric in Gurgaon . The company was founded as GE Capital International Services (GECIS). In the beginning, GECIS created processes for outsourcing back-office activities for GE Capital such as processing car loans and credit card transactions. It
3528-558: The original locomotives were rebuilt as Vauclain compounds in 1893. Over time, the Vauclain compound technology made the locomotives notoriously difficult to maintain. An additional locomotive was added to the fleet in 1901 and again in 1906. All six steam locomotives were rebuilt in 1912 to similar specifications and would burn slightly under 1 ton of coal per trip. Just before the start of the Great Depression , Spencer Penrose purchased
3600-552: The parent of Universal Pictures from Vivendi . Vivendi bought 20% of NBC, forming the company NBCUniversal . GE then owned 80% of NBCUniversal and Vivendi owned 20%. In 2004, GE completed the spin-off of most of its mortgage and life insurance assets into an independent company, Genworth Financial , based in Richmond, Virginia . In May 2007, GE acquired Smiths Aerospace for $ 4.8 billion. Also in 2007, GE Oil & Gas acquired Vetco Gray for $ 1.9 billion, followed by
3672-509: The remedies proposed by GE were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell". On June 27, 2014, GE partnered with collaborative design company Quirky to announce its connected LED bulb called Link. The Link bulb is designed to communicate with smartphones and tablets using a mobile app called Wink . In December 1985, GE reacquired the RCA Corporation , primarily to gain ownership of
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#17328593156103744-685: The same location. Owen D. Young, who was then GE's general counsel and vice president, through GE, founded the Radio Corporation of America (RCA) in 1919. This came after Young, while working with senior naval officers, purchased the Marconi Wireless Telegraph Company of America , which was a subsidiary of the British company Marconi Wireless and Signal Company. He aimed to expand international radio communications. GE used RCA as its retail arm for radio sales. In 1926, RCA co-founded
3816-414: The steeply inclined grades. While most locomotives pull rail cars, these steam engines would push the line's wooden passenger cars up the mountain, decreasing the chance of a runaway car. A fourth steam locomotive was added to the fleet in 1892 (which was built as a Vauclain compound ), which proved to be more efficient and cut the cost of operating on a steep incline. The locomotive was so successful that
3888-474: The summit of Pikes Peak at an elevation of 14,115 feet (4,302 m). The average grade of the line would be 12% but would top out at 25%. Normal trains can not retain traction on the rails at grades steeper than 10%, so the railway would need to use a cog and rack system to help pull trains up the mountain and control the speed of the descent. Construction was started in 1889, being built by Italian laborers using only pickaxes and assisted by donkeys. The line
3960-505: The time, and GE increased engineering and supplies for the Wind Division and doubled the annual sales to $ 1.2 billion in 2003. It acquired ScanWind in 2009. In 2018, GE Power garnered press attention when a model 7HA gas turbine in Texas was shut down for two months due to the break of a turbine blade . This model uses similar blade technology to GE's newest and most efficient model,
4032-596: The transaction were not disclosed, but the sale included US$ 8 billion of on-line deposits and another US$ 8 billion of brokered certificates of deposit. The sale was part of GE's strategic plan to exit the U.S. banking sector and to free itself from tightening banking regulations. GE also aimed to shed its status as a "systematically important financial institution". In September 2015, GE Capital agreed to sell its transportation finance unit to Canada's Bank of Montreal . The unit sold had US$ 8.7 billion (CA$ 11.5 billion) of assets, 600 employees, and 15 offices in
4104-500: The turbine blade issue of the 9FB unit would impact the new HA units. GE was one of the eight major computer companies of the 1960s along with IBM , Burroughs , NCR , Control Data Corporation , Honeywell , RCA , and UNIVAC . GE had a line of general purpose and special purpose computers, including the GE 200 , GE 400 , and GE 600 series general-purpose computers, the GE/PAC 4000 series real-time process control computers, and
4176-493: The world (totaling about 50 lines), but this is one of only three such lines remaining in the United States, the others being the older Mount Washington Cog Railway in New Hampshire, and the short Quincy and Torch Lake Cog Railway . Originally powered by steam locomotives, the line later switched over to diesel-powered locomotives and self-propelled railcars. The railway was closed between October 29, 2017 and May 20, 2021, for
4248-461: The world's largest engine manufacturers, bypassing the British company Rolls-Royce plc . Some consumers boycotted GE light bulbs, refrigerators, and other products during the 1980s and 1990s. The purpose of the boycott was to protest against GE's role in nuclear weapons production. In 2002, GE acquired the wind power assets of Enron during its bankruptcy proceedings. Enron Wind was the only surviving U.S. manufacturer of large wind turbines at
4320-575: The years. In 2023, the price for auto-assigned seatings was USD$ 58.50 (adults) / USD$ 48.50 (age 12 and under); or USD$ 71 / USD$ 61 for reserved seating. More commonly called simply the Manitou Incline , the Mount Manitou Scenic Incline Railway was actually a funicular up the side of a peak called Rocky Mountain located adjacent to Mount Manitou . It was operated by the Manitou and Pike's Peak Railway until its closure following
4392-482: Was a huge success, and led the railroad to purchase five 'streamlined' diesel locomotives from General Electric , which were equipped with matching passenger cars , acquired from 1939 onward. The diesel locomotives slowly supplanted the steam locomotives, though some steam operations persisted until the 1960s as backup power and to operate the snow-clearing train (where their greater weight meant they were less likely to derail). The railroad started switching over to
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#17328593156104464-599: Was a major provider of computer time-sharing services through General Electric Information Services (GEIS, now GXS), offering online computing services that included GEnie . In 2000, when United Technologies Corp. planned to buy Honeywell, GE made a counter-offer that was approved by Honeywell. On July 3, 2001, the European Union issued a statement that "prohibit the proposed acquisition by General Electric Co. of Honeywell Inc.". The reasons given were it "would create or strengthen dominant positions on several markets and that
4536-597: Was an experimental concept at the time and the beginning of the business process outsourcing (BPO) industry. GE sold 60% stake in Genpact to General Atlantic and Oak Hill Capital Partners in 2005 and hived off Genpact into an independent business. GE is still a major client to Genpact today for services in customer service, finance, information technology, and analytics. In 2001, GE acquired Spanish-language broadcaster Telemundo and incorporated it into NBC. In 2002, Francisco Partners and Norwest Venture Partners acquired
4608-540: Was built as a standard-gauge railway with an Abt rack system and wooden ties . Limited service was started in 1890 on the first segment of the line from Manitou Springs to the Halfway House Hotel. On June 30, 1891, the first train reached the summit. Three steam locomotives were built for the line by the Baldwin Locomotive Works that each featured boilers offset by 16 degrees to keep them level on
4680-644: Was cleared by the EU in May 2017, and by the United States Department of Justice in June 2017. The merger agreement was approved by shareholders at the end of June 2017. On July 3, 2017, the transaction was completed, and Baker Hughes became a GE company and was renamed Baker Hughes, a GE Company (BHGE). In November 2018, GE reduced its stake in Baker Hughes to 50.4%. On October 18, 2019, GE reduced its stake to 36.8% and
4752-607: Was expected to be completed in 2015. In October 2014, GE announced it was considering the sale of its Polish banking business Bank BPH . Later in 2014, General Electric announced plans to open its global operations center in Cincinnati , Ohio. The Global Operations Center opened in October 2016 as home to GE's multifunctional shared services organization. It supports the company's finance/accounting, human resources, information technology, supply chain, legal and commercial operations, and
4824-604: Was fired from GE in 1958 by Ralph J. Cordiner for overstepping his bounds and successfully gaining the ERMA contract. Cordiner was strongly against GE entering the computer business because he did not see the potential in it. In 1962, GE started developing its GECOS (later renamed GCOS) operating system , originally for batch processing , but later extended to time-sharing and transaction processing . Versions of GCOS are still in use today. From 1964 to 1969, GE and Bell Laboratories (which soon dropped out) joined with MIT to develop
4896-523: Was followed by the spin-off of GE's portfolio of energy businesses on April 2, 2024, into GE Vernova. Following these transactions, General Electric Company changed its trading name to GE Aerospace, pivoted to aviation, and ceased to exist as a conglomerate. During 1889, Thomas Edison (1847–1931) had business interests in many electricity-related companies, including Edison Lamp Company, a lamp manufacturer in East Newark, New Jersey ; Edison Machine Works ,
4968-636: Was incorporated in New York on April 24, 1889. The new company acquired Sprague Electric Railway & Motor Company in the same year. The consolidation did not involve all of the companies established by Edison; notably, the Edison Illuminating Company , which would later become Consolidated Edison , was not part of the merger. In 1880, Gerald Waldo Hart formed the American Electric Company of New Britain, Connecticut , which merged
5040-452: Was incorporated in New York, with the Schenectady plant used as headquarters for many years thereafter. Around the same time, General Electric's Canadian counterpart, Canadian General Electric , was formed. In 1893, General Electric bought the business of Rudolf Eickemeyer in Yonkers, New York , along with all of its patents and designs. Eickemeyer's firm had developed transformers for use in
5112-433: Was said to be the first broadcast to the public in the United States on GE's W2XAD : the pictures were picked up on 1.5 square inches (9.7 square centimeters) screens in the homes of four GE executives. The sound was broadcast on GE's WGY (AM) . Experimental television station W2XAD evolved into the station WRGB , which, along with WGY and WGFM (now WRVE ), was owned and operated by General Electric until 1983. In 1965,
5184-461: Was surveying Englemann Canyon for telegraph lines to the top of Pikes Peak . It was a miserable two-day trip on a mule and after his return, Simmons was convinced that there needed to be a more "civilized" mode of travel to the summit of Pikes Peak and decided to fund the construction of a railway. The line would start at a depot in the town of Manitou Springs, located at an elevation of 6,320 feet (1,930 m), and climb 8.9 miles (14.3 km) to
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