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NBC

NBC

The National Broadcasting Company or NBC is an American television broadcasting company based in New York City's Rockefeller Center. It is now part of the media conglomerate NBC Universal, and supplies programming to more than 200 affiliated U.S. stations. NBC Universal is a unit of General Electric. The last U.S. network holding company to legally abandon the name behind its acronym, in 2003 the corporate name was shrunk from "National Broadcasting Company, Inc.", as it had been from 1926, to NBC Universal, Inc. following a merger with Vivendi Universal's Entertainment division in 2004. (ABC still occasionally uses American Broadcasting Company or Companies for some copyrights and on-air branding.) Control of the network passed to GE in 1986 following the purchase of NBC's original parent, RCA. Since this acquisition, the President and CEO of NBC has been Bob Wright.

History

Bob Wright]

Radio

The National Broadcasting Company (NBC) radio network went on the air with twenty-four affiliated stations on November 15, 1926. It was owned by Radio Corporation of America (RCA), itself set up in 1919 to control Guglielmo Marconi's American patents; RCA in turn was owned by General Electric Company (GE), the Westinghouse Electric Corporation, the United Fruit Company and American Telephone & Telegraph (AT&T). In a time of consolidation in the radio business, RCA had bought New York station WEAF from AT&T. RCA shareholder Westinghouse had a competing facility in Newark, pioneer station WJZ, which also served as originating station for a loosely-structured network. As NBC took over responsibility for these stations, WEAF and its affiliates became the NBC Red network; the WJZ group was dubbed the NBC Blue network. WEAF had been a laboratory for AT&T's Western Electric, which manufactured transmitters and antennas. AT&T's long-distance and local Bell operating divisions were developing technologies for transmitting voice- and music-grade audio over short and long distances, via both wireless and wired methods. So AT&T's creation of station WEAF in 1922 offered a research-and-development center for these activities. WEAF put together a regular schedule of programs of all types, and created some of the first broadcasts to incorporate commercial endorsements or sponsorships. An immediate success, and created links with other stations to offer coverage of sports or political events. WEAF's first efforts in what would become known first as "chain broadcasting" and later as "networking" tied together Outlet Company's WJAR in Providence, Rhode Island with AT&T's WCAP in Washington, D.C. (named for the Chesapeake and Potomac Telephone Company division of AT&T). RCA also saw an advantage in sharing programming, and after getting a license for station WRC in Washington, D.C. in 1923, attempted to transmit audio between cities via low-quality telegraph lines (since AT&T refused outside companies access to their high-quality phone lines.) The effort was poor at best, with the uninsulated telegraph lines incapable of good audio transmission quality and very susceptible to both atmospheric and man-made electrical interference. In 1925 the management of AT&T decided that WEAF and its network was not compatible with AT&T's goal of providing phone service, and offered to sell the station to RCA, whose business was set manufacturing. When RCA bought WEAF, it gained rights to rent AT&T's phone lines for network transmission. For $1 million, RCA got WEAF and a Washington sister-station, WCAP. It closed WCAP, and created a wholly-owned division called the National Broadcasting Company (it was actually owned 50% by RCA, 30% by General Electric, and 20% by Westinghouse). WEAF and Westinghouse's WJZ and the two networks were operated side-by-side for about a year, but in 1927 NBC formally split the two networks: the NBC Red Network offered entertainment and music programming; the NBC Blue Network carried many of the "sustaining" or non-sponsored programs, especially news and cultural in nature. Legend has it that the color designations originated from the color of the push-pins early engineers used to designate affiliates of WEAF (red pins) and WJZ (blue pins). At various times in the 1930s there were other color designations, with the NBC White, Gold, and Orange networks operating in various configurations in the south, the midwest and on the west coast. The famous three-note NBC chimes came about after several years of trying different musical note combinations. The three note combination (G-E-C; not related at all to RCA's original stockholder General Electric-and as such NBC was basically controlled by GE, since GE held a 30% share combined with RCA's 50%) came from WSB in Atlanta which used it for its own purposes until one day someone at NBC in New York heard the WSB version of the notes during a networked broadcast of a Georgia Tech football game and asked permission to use it on the national network. NBC started to use the three notes in 1931, and it was the first ever audio trademark to be accepted by the U.S. Patent and Trademark Office. An alternate jingle was also used that went E-G-C-C, known as "the fourth chime" and used during wartime (especially in the wake of the Pearl Harbor bombing) and other disasters. The NBC chimes were mechanized in 1932 by Richard H. Ranger of the Rangertone company; their purpose was to send a low level signal of constant amplitude that would be heard by the various switching stations manned by NBC and AT&T engineers, and thus used as a system cue for switching different stations between the Red and Blue network feeds. Because of fears of offending commercial sponsors by cutting their programs off in mid-sentence, the mechanized chimes were always rung by an announcer pushing a button; they were never set to an automatic timer, although heavy discussions on the subject were held between the Engineering and Programming departments throughout the 1930s and 1940s. NBC became the primary tenant in the brand new Rockefeller Center project in 1936. It would serve as the home of radio operations, some RCA corporate operations, and RCA-owned RKO Pictures. From its creation in 1934, the Federal Communications Commission (FCC) had studied the monopolistic effects of network broadcasting on the industry, and found that NBC's two networks and their owned-and-operated stations dominated audiences, affiliates and advertising dollars in American radio. In 1939 the FCC ordered RCA to divest itself of one of the two networks; RCA fought the divestiture order, but divided NBC into two companies in 1940 in case an appeal was lost. The Blue network became the "NBC Blue Network, Inc." and the NBC Red became "NBC Red Network, Inc." 1940 With the loss of the final appeal before the United States Supreme Court, RCA sold the NBC Blue Network, Inc. for $8 million to Lifesavers magnate Edward J. Noble in 1943. For his money Noble got the network name, leases on land-lines and the New York studios, two-and-a half stations (WJZ in Newark/New York, KGO in San Francisco, and WENR in Chicago which shared a frequency with "Prairie Farmer" station WLS), and about 60 affiliates. Noble renamed the company "The Blue Network, Inc." but wanted something more memorable. In 1944 he acquired rights to the name "American Broadcasting Company" from George Storer and the Blue Network became ABC. "NBC Red" reverted to being simply "NBC" when Blue was sold. In the golden days of network broadcasting, 1930 to 1950, NBC was the pinnacle of American radio. Home to many of the most popular stars and programs, NBC stations were often the most powerful, or occupied clear-channel frequencies so that they were heard nation-wide. Such well-known stars as Bob Hope, Jack Benny, Edgar Bergen and Fred Allen called NBC home, as did Arturo Toscanini's NBC Symphony. As television became more popular in the 1950s, many NBC radio stars gravitated there, and by 1960 the radio network's schedule was much reduced. By the late 1960s, there was little more to NBC Radio than news bulletins and news-related features. Since the 1986 acquisition of RCA, NBC has been GE's most consistently profitable division. In compliance with FCC rules, NBC Radio was sold following the sale to GE, to Westwood One. While the chimes and an hourly newscast still appear on radio at certain times on weekdays, the NBC Radio Network as a programming service ceased to exist in 1989, and became a brand-name on material produced by Westwood One.

Television

For many years NBC was closely identified with David Sarnoff, who used it as a vehicle to sell consumer electronics. It was Sarnoff who ruthlessly stole innovative ideas from competitors, using RCA's muscle to prevail in the courts. RCA and Sarnoff had dictated the broadcasting standards put in place by the FCC in 1938, and stole the spotlight by introducing television to the public at the 1939-40 New York World's Fair. While rivals CBS and DuMont also offered color broadcasting plans, RCA convinced a waffling FCC that its color system should prevail, and in 1953 the FCC agreed; the NBC network was to begin offering color programming within days of the FCC's decision. The first NBC show to air all episodes in color, Bonanza, began in the fall of 1959. By 1963, most of NBC's schedule was in color; without television sets to sell, rival networks followed more slowly, CBS in 1965 and ABC in 1966. In 1983, NBC began its new fall season with nine new series. All nine of them were eventually cancelled before completing a year. This is the only time that a network's entire line of new series has failed to be renewed. It was estimated in 2003 that NBC is viewable by 97.17% of all households, reaching 103,624,370 houses in the United States. NBC has 207 VHF and UHF affiliated stations in the U.S. and U.S. possessions. It is also seen throughout Latin America and the Caribbean via cable and satellite using the WNBC feed.

Evolution of the NBC logo

NBC has used a number of logos throughout its history, early logos were similar to the logo of its then parent company, RCA, but later logos included stylized peacock images.

NBC News

While CBS has received more attention from historians discussing broadcast journalism history, NBC's news operation was equal to it. From 1956 through 1970, the television broadcast team of Chet Huntley and David Brinkley consistently exceeded the viewership levels attained by CBS News and its main anchor Walter Cronkite. The pair, together with fellow correspondent Frank McGee, distinguished itself in the coverage of American manned space missions in the Project Mercury, Project Gemini and Project Apollo programs, during an era when space missions rated continuous coverage. (An entire studio, Studio 8H, was configured for this coverage, complete with models and mockups of rockets and spacecraft, maps of the earth and moon to show orbital trackage, and stages on which animated figures created by puppeteer Bil Baird were used to depict movements of astronauts before on-board spacecraft television cameras were feasible. Studio 8H is now the home of the NBC entertainment program Saturday Night Live.) The dominance ended when Huntley retired, to only die from cancer in 1974. The loss of Huntley, along with a reluctance of RCA to fund NBC News at the level CBS was funding CBS News, left NBC News in the doldrums. NBC News did not recover viewership levels until after GE acquired RCA. NBC News got the first interview from two Russian presidents (Putin, Gorbachev) and was the only American eye-witness of the Fall of the Berlin Wall in 1989. In the second Iraq war, NBC News and main anchor Tom Brokaw covered the war like no other television company, in part owing to the willingness of GE to fund it. NBC News correspondent David Bloom pushed through the GE and U.S. Department of Defense bureaucracies permission to construct a mobile news vehicle that could transmit live video broadcasts from the battlefield. The "Bloommobile" brought satellite images and videos (clear, detailed) into homes of America and Europe, live and one-on-one. Bloom did not live to accept the accolades after the armed conflict; he died of natural causes unrelated to combat during the final phase of the fighting. NBC News also benefits from the GE corporate structure by having the ability to take reports from its cable counterpart MSNBC.

See also


- NBC News
- NBC Sports
- List of programs broadcast by NBC
- List of United States television networks
- List of NBC affiliates
- List of NBC slogans
- Lists of corporate assets
- NBC chimes

External links


- [http://www.nbc.com/ NBC Television official site]
- [http://www.museum.tv/archives/etv/N/htmlN/nationalbroa/nationalbroa.htm Museum of Broadcast Communications - NBC History]
- [http://www.tv-ark.org.uk/international/us_nbc.html Screen captures of NBC logos past and present, as well as footage of vintage promos]
- [http://www.nbcumv.com/broadcast/ NBC press releases and photos on NBC Universal Media Village]
- Category:Companies based in New York City Category:General Electric subsidiaries NBC television network Category:United States television networks ja:National Broadcasting Company nb:National Broadcasting Company

United States

:For alternative meanings, see the disambiguation page for US, USA, United States, or American. The United States of America is a federal democratic republic situated primarily in central North America. It comprises 50 states and one federal district, and has several territories. It is also referred to, with varying formality, as the United States, the U.S., the U.S.A., the States, or simply and most commonly, America. The official founding date of the United States is July 4, 1776, when the Second Continental Congress—representing thirteen British colonies—adopted the Declaration of Independence. However, the structure of the government was profoundly changed in 1788, when the states replaced the Articles of Confederation with the United States Constitution. The date on which each of the fifty states adopted the Constitution is typically regarded as the date that state "entered the Union" (became part of the United States). Since the mid-20th century, following World War II, the United States has emerged as a dominant global influence in economic, political, military, scientific, technological, and cultural affairs.

Geography and climate

The United States shares land borders with Canada (to the north) and Mexico (to the south), and territorial water boundaries with Canada, Russia, the Bahamas, and numerous smaller nations. It is otherwise bounded by the Pacific Ocean and the Bering Sea, in the west; the Arctic Ocean, in the northernmost areas; and the Atlantic Ocean, the Gulf of Mexico, and the Caribbean Sea, in the eastern and southeastern areas. Forty-eight of the states are in the single region between Canada and Mexico; this group is referred to, with varying precision and formality, as the continental or contiguous United States, sometimes abbreviated CONUS, and as the Lower 48. Alaska, which is not included in the term contiguous United States, is at the northwestern end of North America, separated from the Lower 48 by Canada. The archipelago of Hawaii is in the Pacific Ocean. The capital city, Washington, District of Columbia is a federal district located on land donated by the state of Maryland. (Virginia also donated land, but it was returned in 1847.) The United States also has overseas territories with varying levels of independence and organization. When inland water is included in the total area, only Russia and Canada are larger than the United States; if inland water is excluded, China ranks third and the U.S. ranks fourth. The United States' total area is 3,718,711 square miles (9,631,418 km²), of which land makes up 3,537,438 square miles (9,161,923 km²) and water makes up 181,273 square miles (469,495 km²). The United States' landscape is one of the most varied among those of the world's nations: among its many features are temperate forestland and rolling hills, on the east coast; mangrove, in Florida; the Great Plains, in the center of the country; the Mississippi–Missouri river system; the Great Lakes, four of the five of which are shared with Canada; the Rocky Mountains, west of the Great Plains; deserts and temperate coastal zones, west of the Rocky Mountains; and temperate rain forests, in the Pacific northwest. Alaska's tundra, and the volcanic, tropical islands of Hawaii add to the geographic diversity. Hawaii The climate varies along with the landscape, from tropical in Hawaii and southern Florida to tundra in Alaska and atop some of the highest mountains. Most of the North and East experience a temperate continental climate, with warm summers and cold winters. Most of the South experiences a subtropical humid climate with mild winters and long, hot, humid summers. Rainfall decreases markedly from the humid forests of the Eastern Great Plains to the semi-arid shortgrass prairies on the high plains abutting the Rocky Mountains. Arid deserts, including the Mojave, extend through the lowlands and valleys of the southwest, from westernmost Texas to California and northward throughout much of Nevada. Some parts of California have a Mediterranean climate. Rainforests line the windward mountains of the Pacific Northwest from Oregon to Alaska.

History

American history started with the migration of people from Asia across the Bering land bridge approximately 12,000 years ago following large animals that they hunted into the Americas. These Native Americans left evidence of their presence in petroglyphs, burial mounds, and other artifacts. It is estimated that 2-9 million people lived in the territory now occupied by the U.S. before European contact, and the subsequent introduction of foreign diseases such as small pox that greatly diminished the native populations. Some advanced societies were the Anasazi of the southwest, who inhabited Chaco Canyon, and the Woodland Indians, who built Cahokia, located near present-day St Louis, a city with a population of 40,000 at its peak in AD 1200. Vikings first visited North America around 1000, but did not settle permanently. Following the discovery voyages of Christopher Columbus around 1492, other Europeans began to explore and settle there. During the 1500s and 1600s, the Spanish settled parts of the present-day Southwest and Florida, founding St. Augustine, Florida in 1565 and Santa Fe (in what is now New Mexico) in 1607. The first successful English settlement was at Jamestown, Virginia, also in 1607. Within the next two decades, several Dutch settlements, including New Amsterdam (the predecessor to New York City), were established in what are now the states of New York and New Jersey. In 1637, Sweden established a colony at Fort Christina (in what is now Delaware), but lost the settlement to the Dutch in 1655. This was followed by extensive British settlement of the east coast. The British colonists remained relatively undisturbed by their home country until after the French and Indian War, when France ceded Canada and the Great Lakes region to Britain. Britain then imposed taxes on the 13 colonies, widely regarded by the colonists as unfair because they were denied representation in the British Parliament. Tensions between Britain and the colonists increased, and the thirteen colonies eventually rebelled against British rule. British Parliament, George Washington (1789-1797).]] In 1776, the 13 colonies split from Great Britain and formed the United States, the world's first constitutional and democratic federal republic, after their Declaration of Independence of that year, and the Revolutionary War (1775 to 1783). The original political structure was a confederation in 1777, ratified in 1781 as the Articles of Confederation. After long debate, this was supplanted by the Constitution in 1789, forming a more centralized federal government. Prior to all these was the Albany Congress in 1754, in which a union was first seriously proposed. From early colonial times, there was a shortage of labor, which encouraged unfree labor, particularly indentured servitude and slavery. In the mid-19th century, a major division occurred in the United States over the issue of states' rights and the expansion of slavery. The northern states had become opposed to slavery, while the southern states saw it as necessary for the continued success of southern agriculture and wanted it expanded to the territories. Several federal laws were passed in an attempt to settle the dispute, including the Missouri Compromise and the Compromise of 1850. The dispute reached a crisis in 1861, when seven southern states seceded1 from the Union and formed the Confederate States of America, leading to the Civil War. Soon after the war began, four more southern states seceded. During the war, Abraham Lincoln issued the Emancipation Proclamation, mandating the freedom of all slaves in states in rebellion, though full emancipation did not take place until after the end of the war in 1865, the dissolution of the Confederacy, and the Thirteenth Amendment took effect. The Civil War effectively ended the question of a state's right to secede, and is widely accepted as a major turning point after which the federal government became more powerful than state governments. Thirteenth Amendment). The title of the painting, from a 1726 poem by Bishop Berkeley, was a phrase often quoted in the era of Manifest Destiny, expressing a widely held belief that civilization had steadily moved westward throughout history. [http://americanart.si.edu/t2go/1lw/1931.6.1.html (more)] ]] During the 19th century, many new states were added to the original 13 as the nation expanded across the continent. Manifest Destiny was a philosophy that encouraged westward expansion in the United States. As the population of the Eastern states grew and as a steady increase of immigrants entered the country, settlers moved steadily westward across North America. In the process, the U.S. displaced most American Indian nations. This displacement of American Indians continues to be a matter of contention in the U.S. with many tribes attempting to assert their original claims to various lands. In some areas American Indian populations were reduced by foreign diseases contracted through contact with European settlers, and US settlers acquired those emptied lands. In other instances American Indians were removed from their traditional lands by force. Though some would say the U.S. was not a colonial power until the Spanish-American War when it acquired Puerto Rico, Guam and the Philippines, the dominion exercised over land in North America the United States claimed is essentially colonial. The Philippines became independent in 1946. During this period, the nation also became an industrial power. This continued into the 20th century, which has been termed "the American Century" because of the nation's overriding influence on the world. The US became a center for innovation and technological development; major technologies that America either developed or was greatly involved in improving include the telephone, television, computer, the Internet, nuclear weapons, nuclear power, aviation, and aeronautics. In addition to the Civil War, another major traumatic experience for the nation was the Great Depression (1929 to 1939). The nation has also taken part in several major foreign wars, including World War I and World War II (in both of which the US later joined the Allies). During the Cold War, the US was a major player in the Korean War and Vietnam War, and, along with the Soviet Union, was considered one of the world's two "superpowers". With the collapse of the Soviet Union, the US emerged as the world's leading economic and military power. Beginning in the 1990s, the United States became very involved in police actions and peacekeeping, including actions in Kosovo, Haiti, Somalia and Liberia, and the first Persian Gulf War driving Iraq out of Kuwait. After attacks on the World Trade Center and the Pentagon on September 11, 2001, the United States and other allied nations found themselves involved in what has come to be called the "War on Terrorism," which has primarily encompassed military actions in both Afghanistan and Iraq.

Government

Iraq of the United States.]]

Republic and suffrage

The United States is an example of a constitutional republic, with a government composed of and operating through a set of limited powers imposed by its design and enumerated in the United States Constitution. Specifically, the nation operates as a presidential democracy. There are three levels of government: federal, state, and local. Officials of each of these levels are either elected by eligible voters via secret ballot or appointed by other elected officials. Americans enjoy almost universal suffrage from the age of 18 regardless of race, sex, or wealth. There are some limits, however: felons are disenfranchised and in some states former felons are likewise. Furthermore, the national representation of territories and the federal district of Washington, DC in Congress is limited: residents of the District of Columbia are subject to federal laws and federal taxes but their only Congressional representative is a non-voting delegate.

Federal government

The federal government is the national government, comprising the Legislative Branch (led by Congress), the Executive Branch (led by the President), and the Judicial Branch (led by the Supreme Court). These three branches were designed to apply checks and balances on each other. The Constitution limits the powers of the federal government to defense, foreign affairs, the issuing and management of currency, the management of trade and relations between the states, and the protection of human rights. In addition to these explicitly stated powers, the federal government—with the assistance of the Supreme Court—has gradually extended these powers into such areas as welfare and education, on the basis of the "necessary and proper" clause of the Constitution.

The Congress

necessary and proper The Congress of the United States is the legislative branch of the federal government of the United States. It is bicameral, comprising the House of Representatives and the Senate. The House of Representatives consists of 435 members, each of whom represents a congressional district and serves for a two-year term. House seats are apportioned among the states by population; in contrast, each state has two Senators, regardless of population. There are a total of 100 senators, who serve six-year terms. The powers of Congress are limited to those enumerated in the Constitution; all other powers are reserved to the states and the people. The Constitution also includes the necessary-and-proper clause, which grants Congress the power to "make all laws which shall be necessary and proper for carrying into execution the foregoing powers."

The President

necessary-and-proper clause At the top level of the executive branch is the President of the United States. The President and Vice-President are elected as 'running mates' for four-year terms by the Electoral College, for which each state, as well as the District of Columbia, is allocated a number of seats based on its representation (or ostensible representation, in the case of D. C.) in both houses of Congress (see U.S. Electoral College). The relationship between the President and the Congress reflects that between the English monarchy and parliament at the time of the framing of the United States Constitution. Congress can legislate to constrain the President's executive power, even with respect to his or her command of the armed forces; however, this power is used only very rarely—a notable example was the constraint placed on President Richard Nixon's strategy of bombing Cambodia during the Vietnam War. The President cannot directly propose legislation, and must rely on supporters in Congress to promote his or her legislative agenda. The President's signature is required to turn congressional bills into law; in this respect, the President has the power—only occasionally used—to veto congressional legislation. Congress can override a presidential veto with a two-thirds majority vote in both houses. The ultimate power of Congress over the President is that of impeachment or removal of the elected President through a House vote, a Senate trial, and a Senate vote. The threat of using this power has had major political ramifications in the cases of Presidents Andrew Johnson, Richard Nixon, and Bill Clinton. The President makes around 2,000 executive appointments, including members of the Cabinet and ambassadors, which must be approved by the Senate; the President can also issue executive orders and pardons, and has other Constitutional duties, among them the requirement to give a State of the Union address to Congress once a year. Although the President's constitutional role may appear to be constrained, in practice, the office carries enormous prestige that typically eclipses the power of Congress: the Presidency has justifiably been referred to as 'the most powerful office in the world'. The Vice President is first in the line of succession, and is the President of the Senate ex officio, with the ability to cast a tie-breaking vote. The members of the President's Cabinet are responsible for administering the various departments of state, including the Department of Defense, the Justice Department, and the State Department. These departments and department heads have considerable regulatory and political power, and it is they who are responsible for executing federal laws and regulations. George W. Bush is the 43rd President, currently serving his second term.

The Courts

George W. Bush The highest court is the Supreme Court, which consists of nine justices. The court deals with federal and constitutional matters, and can declare legislation made at any level of the government as unconstitutional, nullifying the law and creating precedent for future law and decisions. Below the Supreme Court are the courts of appeals, and below them in turn are the district courts, which are the general trial courts for federal law. Separate from, but not entirely independent of, this federal court system are the individual court systems of each state, each dealing with its own laws and having its own judicial rules and procedures. A case may be appealed from a state court to a federal court only if there is a federal question; the supreme court of each state is the final authority on the interpretation of that state's laws and constitution.

State and local governments

supreme court of each state. Note that Alaska and Hawaii are shown at different scales, and that the Aleutian Islands and the uninhabited Northwestern Hawaiian Islands are omitted from this map.]] The state governments have the greatest influence over people's daily lives. Each state has its own written constitution and has different laws. There are sometimes great differences in law and procedure between the different states, concerning issues such as property, crime, health, and education. The highest elected official of each state is the Governor. Each state also has an elected legislature (bicameral in every state except Nebraska), whose members represent the different parts of the state. Of note is the New Hampshire legislature, which is the third-largest legislative body in the English-speaking world, and has one representative for every 3,000 people. Each state maintains its own judiciary, with the lowest level typically being county courts, and culminating in each state supreme court, though sometimes named differently. In some states, supreme and lower court justices are elected by the people; in others, they are appointed, as they are in the federal system. The institutions that are responsible for local government are typically town, city, or county boards, making laws that affect their particular area. These laws concern issues such as traffic, the sale of alcohol, and keeping animals. The highest elected official of a town or city is usually the mayor. In New England, towns operate directly democratically, and in some states, such as Rhode Island and Connecticut, counties have little or no power, existing only as geographic distinctions. In other areas, county governments have more power, such as to collect taxes and maintain law enforcement agencies.

Political divisions

With the Declaration of Independence, the thirteen colonies proclaimed themselves to be nation states modeled after the European states of the time. Although considered as sovereigns initially, under the Articles of Confederation of 1781 they entered into a "Perpetual Union" and created a fully sovereign federal state, delegating certain powers to the national Congress, including the right to engage in diplomatic relations and to levy war, while each retaining their individual sovereignty, freedom and independence. But the national government proved too ineffective, so the administrative structure of the government was vastly reorganized with the United States Constitution of 1789. Under this new union, the continued status of the individual states as sovereign nation states fell into dispute in 1861, as several states attempted to secede from the union; in response, then-President Abraham Lincoln claimed that such secession was illegal, and the result was the American Civil War. Since the Union victory in 1865, the independent status of the individual states has not been broached again by any state, and the status of each state within the union has been deemed by mainstream officials and academics to be settled as being subordinate to the union as a whole. In subsequent years, the number of states grew steadily due to western expansion, the purchase of lands by the national government from other nation states, and the subdivision of existing states, resulting in the current total of 50. The states are generally divided into smaller administrative regions, including counties, cities and townships. The United States–Canadian border is the longest undefended political boundary in the world. The U.S. is divided into three distinct sections:
- the "continental United States," also known as "the Lower 48" and more accurately termed the conterminous, coterminous or contiguous United States
- Alaska, which is physically connected only to Canada
- the archipelago of Hawaii, in the central Pacific Ocean. The United States also holds several other territories, districts, and possessions, notably the federal district of the District of Columbia, which is the nation's capital, and several overseas insular areas, the most significant of which are American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the United States Virgin Islands. The Palmyra Atoll is the United States' only incorporated territory; it is unorganized and uninhabited. The United States Navy has held a base at a portion of Guantanamo Bay, Cuba, since 1898. The United States government possesses a lease to this land, which only mutual agreement or United States abandonment of the area can terminate. The present Cuban government of Fidel Castro disputes this arrangement, claiming Cuba was not truly sovereign at the time of the signing. The United States argues this point moot because Cuba apparently ratified the lease post-revolution, and with full sovereignty, when it cashed one rent check in accordance with the disputed treaty.

Foreign relations and military

sovereign] The immense military and economic dominance of the United States has made foreign relations an especially important topic in its politics, with considerable concern about the image of the United States throughout the world. Reactions towards the United States by other nationalities are often strong, ranging from uninhibited admiration and mimicking of all things American to anti-Americanism. US foreign policy has swung about several times over the course of its history between the poles of strict isolationism and imperialism and everywhere in between. Three of the nation's four military branches are administered by the Department of Defense: the Army, the Navy (including the Marine Corps), and the Air Force. The Coast Guard falls under the jurisdiction of the Department of Homeland Security in peacetime, but is placed under the Department of the Navy in time of war. The combined United States armed forces consist of 1.4 million active duty personnel, along with several hundred thousand each in the Reserves and the National Guard. Military conscription ended in 1973. The United States Armed forces are considered to be the most powerful military (of any sort) on Earth and their force projection capabilities are unrivaled by any other nation. The 2005 defense budget amounted to $401.7 billion, which is an increase of 4% over 2004 and of 35% since 2001. Over 50% of that number is spent in research & development. (For comparison, in 2004 the European Union (considered as the second-largest military force) had a combined total of 1.6 million troops, and a defense budget of €160 billion, with less than 10% of that being spent on R&D.)

Largest cities

The United States has dozens of major cities, including 11 of the 55 global cities of all types — with three "alpha" global cities: New York City, Los Angeles, and Chicago. The figures expressed below are for populations within city limits. A different ranking is evident when considering U.S. metro area populations, although the top three would be unchanged. Note that some cities not listed (such as Atlanta, Boston, Las Vegas, Miami, Nashville, New Orleans, Seattle, and Washington, D.C.) are still considered important on the basis of other factors and issues, including culture, economics, heritage, and politics. The twenty largest cities, based on the United States Census Bureau's 2004 estimates, are as follows:

Economy

The United States has the largest single-country economy in the world, with a per-capita gross domestic product of $40,100. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. gross domestic product The largest industry of the U.S. is now service, which employs roughly three quarters of the U.S. work force. The United States has many natural resources, including oil and gas, metals, and such minerals as gold, soda ash, and zinc. In agriculture, the U.S. is a top producer of, among other crops, corn, soy beans, and wheat; the United States is a net exporter of food. The U.S. manufacturing sector produces goods such as, cars, airplanes, steel, and electronics, among many others. Economic activity varies greatly from one part of the country to another, with many industries being largely dependent on a certain city or region; New York City is the center of the American financial, publishing, broadcasting, and advertising industries; Silicon Valley is the country’s primary location for high-technology companies, while Los Angeles is the most important center for film production. The Midwest is known for its reliance on manufacturing and heavy industry, with Detroit, Michigan, serving as the center of the American automotive industry; the Great Plains are known as the "breadbasket" of America for their tremendous agricultural output; the intermountain region serves as a mining hub and natural gas resource; the Pacific Northwest for fish and timber, while Texas is largely associated with the oil industry; the Southeast is a major hub for both medical research and the textiles industry. Several countries continue to link their currency to the dollar or even use it as a currency (such as Ecuador), although this practice has subsided since the collapse of the Bretton Woods system. Many markets are also quoted in dollars, such as those of oil and gold. The dollar is also the predominant reserve currency in the world, and more than half of global reserves are in dollars. The largest trading partner of the United States is Canada (19%), followed by China (12%), Mexico (11%), and Japan (8%). More than 50% of total trade is with these four countries. In 2003, the United States was ranked as the third most visited tourist destination in the world; its 40,400,000 visitors ranked behind France's 75,000,000 and Spain's 52,500,000. Labor unions have existed since the 19th century, and grew large and powerful from the 1930s to the 1950s. See Labor history of the United States. Since 1970 they have shrunk in the private sector and now cover fewer than 8% of the workers. However union membership has grown rapidly in the public sector, especially among teachers, nurses, police, postal workers, and municipal clerks. There have been few strikes in recent years. The United States' imports exceed exports by 80%, leading to an annual trade deficit of $700,000,000,000, or 6% of gross domestic product. It is the largest debtor nation in the world, with total gross foreign debt of over $13,000,000,000,000 (2005 estimate); and it absorbs more than 50% of global savings annually. Since the 1980s, the U.S. has increased the use of neoliberal economic policies that reduce government intervention and reduce the size of the welfare state, backing away from the more interventionist Keynsian economic policies that had been in favor since the Great Depression. As a result, the United States provides fewer government-delivered social welfare services than most industrialized nations, choosing instead to keep its tax burden lower and relying more heavily on the free market and private charities. Sixteen states and the District of Columbia have minimum wages higher than the national level ($5.15 per-hour), including the highest, Washington State at $7.35. Twenty-six states are the same as the federal level; two--Ohio and Kansas--are below; and six do not have state laws. America's wealth is relatively highly concentrated. The average C.E.O. earns 500 times the typical amount a worker grosses, this is up from 25 times in the late 1970s. In terms of wealth the top 1% of Americans own 40% of all assets and 50.1% of the country's income goes to the top twenty percent of households. Average wages for the majority of employees have been largely stagnating since the 1970s. America's poverty line defined as a family of four earning less than $19,157 is at 12.7% of the general population. Approximately one out of every five children in the United States grows up below the official poverty line. Among racial groups; African Americans have the lowest median income while Asians had the highest. Regionally, the southern states had the lowest median incomes while the West Coast and New England had the highest. The current Federal Reserve Chairman Alan Greenspan remarked that the U.S.’s growing income inequality since the 1970s is, "not the type of thing which a democratic society - a capitalist democratic society - can really accept without addressing."[http://www.csmonitor.com/2005/0614/p01s03-usec.html?s=itm] However, Greenspan also noted, "...you can look at the system and say it's got a lot of problems to it, and sure it does. It always has. But you can't get around the fact that this is the most extraordinarily successful economy in history."

Transportation

Alan Greenspan ]] Because the United States is a relatively young nation, most of the development of U.S. cities has taken place since the invention of the automobile. To link its vast territory, the United States built a network of high-capacity, high-speed highways, of which the most important element is the Interstate Highway system, commissioned in the 1950s by President Dwight D. Eisenhower and modeled after the German Autobahn. The United States also has a transcontinental rail system, which is used for moving freight across the lower forty-eight states. Passenger rail service is provided by Amtrak, which serves forty-six of the lower forty-eight states. Many cities in the United States have extensive mass-transit systems. New York City operates one of the world's largest and most heavily used subway systems. The regional rail and bus networks that extend into Long Island, New Jersey, Upstate New York, and Connecticut are among the most heavily used in the world. Air travel is often preferred for destinations over 300 miles (500 kilometers) away. In terms of passengers, seventeen of the world's thirty busiest airports in 2004 were in the U.S., including the world's busiest, Hartsfield-Jackson Atlanta International Airport; in terms of cargo, in the same year, twelve of the world's thirty busiest airports were in the U.S., including the world's busiest, Memphis International Airport. There are several major seaports in the United States; the three busiest are the Port of Los Angeles, California; the Port of Long Beach, California; and the Port of New York and New Jersey. Others include Houston, Texas; Charleston, South Carolina; Savannah, Georgia; Miami, Florida; Portland, Oregon; San Francisco, California; Boston, Massachusetts; Philadelphia, Pennsylvania; and Seattle, Washington; plus, outside the contiguous forty-eight states, Anchorage, Alaska, and Honolulu, Hawaii.

Society

Demographics

Hawaii The mean center of the U.S. population continues to drift farther west and south. The fastest growing region is the western United States followed by the southern portion. According to Census 2000, the states that saw the greatest increases from 1990 were: Nevada (66.3%), Arizona (40%), Colorado (30.6%), Utah (29.6%), Idaho (28.5%), Georgia (26.4%), Florida (23.5%), Texas (22.8%), North Carolina (21.4%), and Washington (21.1%). [http://www.census.gov/population/cen2000/phc-t2/tab03.pdf]

Ethnicity and race

:Main article: Racial demographics of the United States The United States is a very racially diverse country. According to the 2000 census, it has 31 ethnic groups with at least one million members each, and numerous others represented in smaller amounts. The majority of Americans descend from white European immigrants who arrived at the establishment of the first colonies (most after Reconstruction). This majority--69.1% in 2000--decreases each year, and is expected to become a plurality within a few decades. The most frequently stated European ancestries are German (15.2%), Irish (10.8%), English (8.7%), Italian (5.6%) and Scandinavian (3.7%). Many immigrants also hail from Slavic countries such as Poland and Russia. Other significant immigrant populations came from eastern and southern Europe and French Canada. Russia Hispanics from Mexico and South and Central America are the largest minority group in the country, comprising 12.5% of the population (2000 census). People of Mexican descent made up 7.3% of the population in the 2000 census, and this proportion is expected to increase significantly in the coming decades. About 12.3% (2000 census) of the American people are African Americans (Blacks). African Americans are spread throughout the country, but their presence is largest in the South. Asian Americans--including Native Hawaiians and Pacific Islanders--are a third significant minority (3.7% of the population in 2000). Most Asian Americans are concentrated on the West Coast and Hawaii. The largest groups are immigrants or descendants of emigrants from the Philippines, China, India, Vietnam, South Korea, and Japan. Indigenous peoples in the United States, such as American Indians and Inuit, make up 0.9% of the population (2000 census). About 35% live on Indian reservations.

Religion

Polls estimate that just under 80 percent of Americans are Christians of various denominations. The other 20 percent comprises other religions such as Hinduism, Judaism, Islam, and Buddhism, other various faiths, and those without a specific religion. The United States is noteworthy among developed nations for its relatively high level of religiosity. According to a 2004 Gallup poll, about 44% of Americans attend a religious service at least once a week. However, this rate is not uniform across the country; attendance is more common in the Bible Belt—composed largely of Southern and Midwestern states—than in the Northeast and West Coast. In the Southern states, Baptists are the largest group, followed by Methodists; Roman Catholics are dominant in the Northeast and in large parts of the Midwest due to their being settled by descendants of Catholic immigrants from Europe (such as Germany, Ireland, Italy, and Poland) or other parts of North America (mainly Quebec and Puerto Rico). The rest of the country for the most part has a complex mixture of various Christian groups.

Education

West Coast's home at Monticello and the University of Virginia (library building shown above, and designed by Jefferson), the only collegiate campus on the list. Both sites are located in Charlottesville, Virginia.]] In the United States, education is a state, not federal, responsibility, and the laws and standards vary considerably. However, the federal government, through the Department of Education, is involved with funding of some programs and exerts some influence through its ability to control funding. In most states, all students must attend mandatory schooling starting with kindergarten, which children normally enter at age 5, and following through 12th grade, which is normally completed at age 18



Conglomerate (company)

A conglomerate is a large company that consists of divisions of often seemingly unrelated businesses. Conglomerates were popular in the 1960s due to a combination of low interest rates and a repeating bear/bull market, which allowed the conglomerates to buy companies in leveraged buyouts, sometimes at temporarily deflated values. Famous examples of the 1960s conglomerators include Ling-Temco-Vought, ITT, Litton Industries, Textron, Teledyne, and Gulf and Western Industries. As long as the target company had profits greater than the interest on the loans, the overall return on investment (ROI) of the conglomerate appeared to grow. For many years this was enough to make the company's stock price rise, as companies were often valued largely on their ROI. The aggressive nature of the conglomerators themselves was enough to make many investors, who saw a "powerful" and seemingly unstoppable force in business, buy their stock. High stock prices allowed them to raise more loans, based on the value of their stock, and thereby buy even more companies. This led to a chain reaction, which allowed them to grow very rapidly. However, all of this growth was somewhat illusory. As soon as interest rates started to rise in order to offset inflation, the profits of the conglomerates fell. Investors also noticed that the companies inside the conglomerate were growing no faster than they had before they were purchased, whereas the excuse for buying a company was often that "synergies" would lead to more efficiency. By the late 1960s they were frowned on by the market, and a major sell off of their shares ensued. In order to keep the companies going, many conglomerates were forced to shed the industries they had purchased recently, and by the mid-1970s most had been reduced to shells. The conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency. Most conglomerates have generally proven unsuccessful. One exception is General Electric, whose huge industrial equipment surplus was turned into a successful rental and leasing business. Cash flush during the 1980s, GE also moved into financing and financial services, which today accounts for half of the company's income. In some ways GE is the opposite of the "typical" 1960s conglomerate: the company was not highly leveraged, and when interest rates went up they were able to turn this to their advantage as it was often less expensive to lease from GE than buy new equipment using loans. The best known British conglomerate was Hanson plc. It followed a rather different timescale than the U.S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into five separate listed companies between 1995 and 1997. It was quite a successful example of a conglomerate.

Potential Advantages of the Conglomerate Organizational Form

To modern business analysts, the best argument for conglomerate organizational form is that it may allow capital to be allocated in a more efficient way. For example, a hypothetical conglomerate consists of a candy store and an internet website. Suppose the candy store has high cash flow, but very few profitable investment opportunities. The startup has low cash flow, but lots of good investment projects. By combining the businesses together, the cash from the candy store can be used to make profitable investments that would otherwise not be made in the web site. The main question associated with this strategy is why this improves upon a market-based allocation of captial. That is, if the entities were standalone, then presumably the investors in the candy store could receive dividends, and then reinvest those dividends in the startup. If this market-based mechanism works well, then all profitable internet startup investments can be made without having the two entities be under common ownership. Research suggests that financial markets may not always operate efficiently due to the presence of asymmetric information. If this problem is severe, then the common ownership of the assets might yield a more efficient allocation of capital. See, for example, Chapter 5 ("Diversification") of the textbook "Economics of Strategy" by David Besanko, David Dranove, Mark Shanley and Scott Schaefer.

Media conglomerates

In her 1999 book No Logo, Naomi Klein provides several examples of mergers and acquisitions between media companies designed to create conglomerates for the purposes of creating synergies between them:
- Time Warner (now merged with AOL) have a series of tenuously linked business including internet access, internet content provision and music, film and traditional publishing. Their diverse portfolio of assets allow cross-promotion and economies of scale.
- Clear Channel Communications, a quoted company, which owns a variety of TV and radio stations, together with a large number of concert venues, across the US and a diverse portfolio of assets in the UK and other countries around the world. The concentration of bargaining power in this one entity allows it to gain better deals for all of its business units. For example, the promise of playlisting (allegedly, sometimes, coupled with the threat of blacklisting) on its radio stations is often used to secure better deals from artists performing in events organised by the entertainment division. These policies have been attacked as unfair and even monopolistic, but are a clear advantage of the conglomerate strategy.

See also

Japanese


- zaibatsu
- keiretsu

Korean


- chaebol Category:Companies
- Conglomerate

NBC Universal

NBC Universal is a media and entertainment conglomerate formed in May 2004 by the combination of General Electric's NBC with Vivendi Universal Entertainment, part of Vivendi Universal. GE owns 80% of NBC Universal with the remaining 20% owned by Vivendi and Barry Diller. The company develops, produces, and markets entertainment, news, and information to a global customer base. NBC Universal owns and operates a United States television network and group of stations, a Spanish-language network, a portfolio of news and entertainment networks, a motion picture company, a number of television production companies, and several theme parks. Bob Wright, who serves as vice chairman of General Electric, is Chairman and CEO of NBC Universal.

Television

NBC Universal has its modern roots in a series of expansions undertaken by NBC. In the late 1980s, NBC began pursuing a strategy of diversification, including the formation of two NBC-owned cable-television networks, CNBC and America's Talking. NBC also has partial ownership of several regional sports channels and other cable channels, such as Court TV and American Movie Classics. NBC Super Channel reaches more than 65 million households in Europe. In 1994, NBC began operating NBC Desktop Video, a financial news service that delivers live video to personal computers. In 1996 the company announced an agreement with the Microsoft Corporation to create MSNBC, an all-news cable television channel, using its subscriber base from its America's Talking network. The joint venture also included establishing a companion news service, MSNBC Online, on the World Wide Web. NBC Desktop Video and America's Talking were phased out. Also in 1996, NBC began broadcasting CNBC Europe, NBC Asia and CNBC Asia and in 1998 in partnership with Dow Jones & Co. they combined their financial news channels outside the US. In 1999, NBC took a 32% stake in the Paxson group, operator of PAX TV. In 2004 NBC announced it was looking to sell its interest in PAX and end its 5 year relationship with Pax owner Paxson Communications. In 2002, NBC acquired the US Spanish-language broadcaster Telemundo, which included the bilingual Mun2 Television (pronounced "moon dose"). Also in 2002, NBC acquired the cable channel Bravo. In 2003, as part of the dismantling of the Vivendi Universal conglomerate, GE formed NBC Universal: 80% owned by GE, 20% by Vivendi. In 2006, Vivendi will have the right to monetize the remaining 20% at fair market value, which would result in a forced purchase by GE. The joint venture encompasses Vivendi's US film interests, such as Universal Studios production and distribution units, five theme parks, and cable television channels such as the USA Network, Sci Fi Channel, and Trio, a cable channel devoted to pop culture. In 2004, the television production divisions of NBC Studios and Universal Network Television were combined to form NBC Universal Television Studio. NBC Studio series brought into the company include the NBC dramas Las Vegas (with DreamWorks SKG), Crossing Jordan, and American Dreams. Universal Network Television brought the Law & Order franchise and The District. Late night shows produced by the new group include The Tonight Show with Jay Leno, Late Night with Conan O'Brien, Saturday Night Live, and Last Call with Carson Daly. The formation of NBC Universal saw the establishment of NBC Universal Cable, which oversees the distribution, marketing, and advertisement sales for twelve channels (Bravo, Bravo HD+, CNBC, CNBC World, MSNBC, mun2, Sci Fi Channel, ShopNBC, Telemundo, TRIO, USA Network, Weather Plus, and the Olympics on cable). NBC Universal Cable also manages the company's investments in A&E, the History Channel, History Channel International, the Biography Channel, National Geographic International, the Sundance Channel, and TiVo. In the early 1990s, NBC began its expansion throughout Europe by creating CNBC Europe and its long-time successful NBC Europe Superstation by broadcasting NBC Giga throughout Germany and the rest of the European Union. NBC Europe helped to develop the largest European computer and video games expo "Games Convention" in Leipzig with more than 100,000 visitors each year. On December 6th they announced a partnership with apple computer to offer shows from all the NBC Universal channels on the iTunes music store As of January 1st, 2006, TRIO will become a web-based network for broadband Internet users housed at Bravo's official website - http://www.bravotv.com Also on that date, NBC Universal will launch a new cable channel, SLEUTH, a 24-hour entertainment cable channel dedicated to the popular – and enduring – crime, mystery and suspense genre. The company's popular "Law & Order" series will not be featured on this new channel as it is already airing on its USA Network and Bravo cable channels. SLEUTH will feature crime and mystery classics from NBC Universal's extensive library of feature films, classic television shows, reality series and documentaries. Programming includes popular and cult television series like "Miami Vice," "The A-Team," and "Knight Rider." Crime, mystery and suspense films like "Scarface," "The Jackal," "Casino," "Sneakers" and "Mercury Rising" will be in the SD and HD lineups, with at least 20 hours of content from the channels offered on demand at any given time to consumers.

Film

Universal Studios became a part of NBC Universal as a result of the 2004 merger. In July 2005, rumors began to emerge that NBC Universal might buy Dreamworks SKG for $2.5 billion. Dreamworks Pictures already uses Universal's film distribution and home entertainment divisions to distribute their products. Dreamworks Animation would not be included in the merger.

Parks and resorts

NBC Universal owns Universal Studios in Hollywood and has a major stake in
- Universal Orlando Resort in Orlando, Florida, which features Universal Studios Florida and Islands of Adventure
- Universal Studios Japan in Osaka
- Port Aventura (formally Universal Mediterranea) near Barcelona, Spain
- Sold in 2004/2005

External links


- [http://www.nbcuni.com/ NBC Universal's website] Category:General Electric subsidiaries Category:entertainment companies of the United States

General Electric

The General Electric Company, or GE () is a multinational technology and services company. Going into 2005, it was the world's largest corporation in terms of market capitalization ([http://screen.yahoo.com/b?mc=100000000/&b=1&z=mc&db=stocks&vw=1]). It should not be confused with The General Electric Company plc, which was renamed Marconi plc in 1999. In the 1960s, peculiarities in U.S. tax laws and accounting practices made it fashionable to assemble conglomerates. GE, which was a conglomerate long before the term was coined, is one of the very few corporations to achieve great success with this kind of organization.

History

In 1876, Thomas Alva Edison opened a new laboratory in Menlo Park, New Jersey. Out of the laboratory was to come perhaps the most famous invention of all—a successful development of the incandescent electric lamp. By 1890, Edison had organized his various businesses into the Edison General Electric Company. In 1879, Elihu Thomson and E. J. Houston formed the rival Thomson-Houston Company. It merged with various companies and was later led by Charles A. Coffin, a former shoe manufacturer from Lynn, Massachusetts. Mergers with competitors and the patent rights owned by each company put them into dominant positions in the electrical industry. As businesses expanded, it became increasingly difficult for either company to produce complete electrical installations relying solely on their own technology. In 1892, these two major companies combined, in a merger arranged by financier J. P. Morgan, to form the General Electric Company, with its headquarters in Schenectady, New York. In 1896, General Electric was one of the original 12 companies listed on the newly-formed Dow Jones Industrial Average. GE is the only one that remains today. The Radio Corporation of America (RCA) was founded by GE and American Telephone & Telegraph (AT&T) in 1919 to further international radio. General Electric was one of the eight major computer companies (with IBM - the largest, Burroughs, Scientific Data Systems, Control Data Corporation, Honeywell, RCA and UNIVAC) through most of the 1960s. GE had an extensive line of general purpose and special purpose computers. Among them were the GE 200, GE 400, and GE 600 series general purpose computers, the GE 4010, GE 4020, and GE 4060 real time process control computers, and the Datanet 30 message switching computer. A Datanet 600 computer was designed, but never sold. It has been said that GE got into the computer manufacturing business because in the 1950's they were the largest user of computers outside of the United States federal government. In 1970 GE sold its computer division to Honeywell. In 1986, GE re-acquired RCA, primarily for the NBC television network. The rest was sold to various companies, including Bertelsmann and Thomson. In 2004, GE bought the television and movie assets of Vivendi Universal and became the third largest media conglomerate in the world. The new company was named NBC Universal. Also in 2004, GE completed the spinoff of most of its life and mortgage insurance assets into an independent company, Genworth Financial, based in Richmond, Virginia. In that same year, GE also acquired the credit card unit of the department store Dillard's for $1.25 billion. In 2005, General Electric bought the financial assets of the Canadian airplane manufacturer Bombardier for $1.4 billion [http://www.bloomberg.com/apps/news?pid=10000082&sid=aeIc.zt1tBbc]

Today

GE is an enormous multinational industrial company headquartered in Fairfield, Connecticut. The company describes itself as composed of a number of primary business units or "businesses." Each "business" is itself a vast enterprise, any of which would, even as a standalone company, rank in the Fortune 500. The list of GE businesses varies over time as the result of acquisitions, divestitures and reorganizations.

GE subsidiaries

:Main article: List of assets owned by General Electric
- Access Distribution
- GE Advanced Materials
- GE Capital IT Solutions
- GE Capital Rail Services
- GECAS
- GE Commercial Finance
- GE Consumer & Industrial
- GE Consumer Finance
- GE Energy
- GE Engine Services, Inc.
- GE Equipment Services
- GE Fanuc Automation North America, Inc.
- GE Financial Assurance Holdings, Inc.
- GE Franchise Finance Corporation
- GE Global Research
- GE Healthcare
- GE Infrastructure
- GE Insurance
- GE Money
- GE Osmonics
- GE SeaCo SRL
- GE Security
- GE Small Business Finance Corporation
- GE Supply
- GE Transportation
- General Electric Mortgage Insurance Corporation
- Global Nuclear Fuel - Japan Co., Ltd.
- HPSC, Inc.
- Instrumentarium Corporation
- MRA Systems, Inc.
- NBC Universal, Inc.
- Transport International Pool Inc.
- WMC Mortgage Corp. Through these businesses, GE participates in a wide variety of markets including the generation, transmission and distribution of electricity, lighting, industrial automation, medical imaging equipment, motors, railway locomotives, aircraft jet engine, aviation services and materials such as plastics, silicones and abrasives. It was co-founder and is 80% owner (with Vivendi Universal) of NBC Universal, the National Broadcasting Company. Through GE Commercial Finance, GE Consumer Finance, GE Equipment Services, and GE Insurance it offers a range of financial services as well. It has a presence in over 100 countries. Interestingly, over half of GE's revenue is derived from financial services, ostensibly making it a financial company with a manufacturing arm. It is also one of the largest lenders in countries other than the United States, such as Japan. Even though the first wave of conglomerates (such as ITT, Ling-Temco-Vought, Tenneco, etc) fell by the wayside by the mid-1980s, in the late 1990s, another wave (consisting of Westinghouse, Tyco, and others) tried and failed to emulate GE's success.

Jack Welch

The CEO from 1981-2001 was Jack Welch, who many regard as one of the premier business managers of his era. Nicknamed "Neutron Jack", he presided over a 28-fold increase in earnings (on a 5-fold increase in revenue) with his policy (referred to by detractors as "rank and yank") of sacking the worst performing 10% of his staff every year. In running GE's many diverse businesses he maintained a policy of only keeping those businesses which were #1 or #2 within their respective industries. In 1987, GE was the United States' second largest nuclear power company and third largest producer of nuclear weapons systems. Jack Welch introduced the use of the six sigma quality system, originally developed at Motorola, within GE.

Corporate information

The company's market capitalization ([http://finance.yahoo.com/q?s=GE]) is almost $100 billion higher than that of Microsoft ([http://finance.yahoo.com/q?s=msft]). In 2004, GE was named number one company for employers and employees on the Forbes 500 Global Player list. Jeffrey Immelt is succeeded Jack Welch as CEO of General Electric and holds that office today. Current members of the board of directors of General Electric are: James Cash, Jr., William Castell, Dennis Dammerman, Ann Fudge, Claudio Gonzalez, Jeffrey Immelt, Andrea Jung, A.G. Lafley, Robert Lane, Ralph Larsen, Rochelle Lazarus, Sam Nunn, Roger Penske, Robert Swieringa, Douglas Warner, and Bob Wright.

Analyst coverage

See [http://finance.yahoo.com/q/sa?s=GE Yahoo! analyst converage]
- Germanotta, Jeffrey (William Blair & Company, L.L.C.)
- Cornell, Robert (Lehman Brothers)
- Parent, Nicole (Credit Suisse First Boston)
- Dray, Deane (Goldman Sachs)

Financials

[http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000040545&owner=exclude SEC filings including 10-k]

See also


- Borazon
- Lexan
- List of assets owned by General Electric
- MOOSE
- Rank and yank

External links


- [http://www.ge.com/ General Electric's website]

Data


- [http://biz.yahoo.com/ic/10/10634.html Yahoo! - General Electric Company Company Profile] Category:Conglomerate companies Category:Companies based in Connecticut Category:Fortune 500 companies Category:Companies traded on the New York Stock Exchange ja:ゼネラル・エレクトリック

Vivendi Universal

Vivendi Universal (VU) is a French company active in media and communications with activities in music, television and film, publishing, telecommunications and the Internet. The company disclosed a corporate loss of 23.3 billion euros in its 2002 annual report: the worst loss to this date for a French company. Amid intense media scrutinty, its flamboyant Chairman and CEO, Jean-Marie Messier (who had overseen the most dramatic phase of the company's diversification), was subsequently replaced by Jean-René Fourtou.

History

Vivendi Universal was created in December of 2000 with the massive merger of the Vivendi media empire with Canal+ television networks and the Canadian company Seagram, the owner of Universal Studios film company. What had once been Vivendi's core business (water and waste services and other utilities) had previously been spun off as a separate company, now known as Veolia Environnement. See the individual companies' articles for pre-merger company history.

2001


- In 2001, VU acquired MP3.com and a leading American publisher, Houghton Mifflin.

2002


- In 2002, VU began facing financial trouble. It began financial reshuffling, trying to shore up media holdings while selling off shares in its spin-off companies.
- VU reduced its stake in Vivendi Environnement to 40% and sold its stake in Vinci Construction.
- The flamboyant company's Chairman and CEO, Jean-Marie Messier (who had overseen the most dramatic phase of Vivendi's diversification) resigned. He was replaced by Jean-Rene Fourtou. The company then began reorganizing to stave off bankruptcy. The company announced its strategy to sell non-strategic assets. Its largest single shareholder was the family of Edgar Bronfman, Jr., who was head of Seagram at the time of the merger.
- VU sold its stake in Vizzavi to Vodafone, with the exception of Vizzavi France. It also sold 20.4% of Vivendi Environnement's capital to a group of investors, and its stake in North American satellite operator EchoStar Communications Corporation.

2003


- VU sold Canal+ Technologies to Thomson (formerly Thomson Multimédia); Tele+ to News Corporation and Telecom Italia. It also sold its 26.3% interest in Xfera.
- On March 6, 2003, Vivendi disclosed its annual report (term ended at December 31,2002), that is downloadable in pdf format on its site. Some highlights include:
  - Corporate loss of 23.3 billion euros: the worst loss for a French company.
  - Net debt of 12.3 billion euros
  - Vivendi will sell assets for 7 billons euros in 2003
- On December 1, 2003, Vivendi closed a deal to sell MP3.com to CNET.

2004


- The Vivendi Universal Entertainment branch merged with NBC to form NBC Universal.
- VU also sold its interests in Kencell, Monaco Telecom and Sportfive (which it held through