The General Electric Company or GEC was a major British-based industrial conglomerate, involved in consumer and defence electronics, communications and engineering. The company was once a constituent of the FT 30 and FTSE 100 Index.
In December 1999, GEC was renamed to Marconi plc and became a telecommunications focused company; when its defence arm, Marconi Electronic Systems was amalgamated with British Aerospace to form BAE Systems. The financial troubles that followed the burst of the dot-com bubble in 2000/2001, led to the May 2003 restructuring of Marconi plc to Marconi Corporation plc.
In 2005, Ericsson purchased the bulk of Marconi Corporation plc, along with its principal subsidiary, Marconi Communications. The remainder of the business was renamed Telent.
Famous quotes containing the words general, electric and/or company:
“The man who would change the name of Arkansas is the original, iron-jawed, brass-mouthed, copper-bellied corpse-maker from the wilds of the Ozarks! He is the man they call Sudden Death and General Desolation! Sired by a hurricane, dam’d by an earthquake, half-brother to the cholera, nearly related to the smallpox on his mother’s side!”
—Administration in the State of Arka, U.S. public relief program (1935-1943)
“Persons grouped around a fire or candle for warmth or light are less able to pursue independent thoughts, or even tasks, than people supplied with electric light. In the same way, the social and educational patterns latent in automation are those of self- employment and artistic autonomy.”
—Marshall McLuhan (1911–1980)
“More company increases happiness, but does not lighten or diminish misery.”
—Thomas Traherne (1636–1674)