June 21, 2018

GET WOKE, GO BROKE: GE Drops Out of the Dow Jones Industrial Average After More Than a Century.

GE’s market capitalization peaked at $594 billion in 2000, making it the most valued U.S. company. It has shrunk over the years. Under former CEO Jeff Immelt, the company shed its NBCUniversal media business and sold off most of its GE Capital arm, which was once one of the biggest U.S. lenders.

More recently, the Boston-based company struck a deal to sell its century-old railroad business, part of a plan to shed $20 billion worth of assets by the end of next year. It is also looking to sell its century-old lighting business.

Regarding that last item, it’s about time — a decade ago, a then-GE owned company insisted that we all radically cut back on our use of one of GE’s most ubiquitous products.

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