GE no longer bringing new things to "light"
Emailed on May 29th 2020 in The Friday Forward
For the first time in its nearly 130-year history, General Electric will no longer be making and selling lightbulbs. GE is selling its lighting business to Savant Systems.
GE was founded in 1892 by a merger between Thomas Edison's Edison General Electric Co., which made Edison's famous incandescent bulb as well as other inventions, and a rival business.
GE may be best known to the public for its lightbulbs and appliances, but the massive conglomerate makes much more money as a lender, defense contractor and manufacturer of everything from jet engines and wind turbines to X-ray machines and ventilators.
GE did not disclose the financial terms of the deal to sell its lighting business. It says the proposal calls for the GE Lighting brand to live on and for the lighting company to continue to be headquartered in Cleveland
The sale brings a final chapter to the often misheard GE slogan: "We bring good things to life."