GE 2005 Annual Report Download - page 10

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(10)
Part I
Item 1. Business
General
Unless otherwise indicated by the context, we use the terms “GE,” “GECS” and “GE Capital” on the basis of
consolidation described in note 1 to the consolidated financial statements of General Electric Company (the
Company) on page 80. Also, unless otherwise indicated by the context, “General Electric” means the parent
company, General Electric Company.
General Electric’ s address is 1 River Road, Schenectady, NY 12345-6999; we also maintain executive
offices at 3135 Easton Turnpike, Fairfield, CT 06828-0001.
GE is one of the largest and most diversified industrial corporations in the world. We have engaged in
developing, manufacturing and marketing a wide variety of products for the generation, transmission, distribution,
control and utilization of electricity since our incorporation in 1892. Over the years, we have developed or acquired
new technologies and services that have broadened considerably the scope of our activities.
Our products include major appliances; lighting products; industrial automation products; medical
diagnostic imaging systems; bioscience assays and separation technology products; electrical distribution and
control equipment; locomotives; power generation and delivery products; nuclear power support services and fuel
assemblies; commercial and military aircraft jet engines; chemicals and equipment for treatment of water and
process systems; security equipment and systems; and engineered materials, such as plastics and silicones.
Our services include product services; electrical product supply houses; electrical apparatus installation,
engineering, and repair and rebuilding services. Through our affiliate, NBC Universal, Inc., we produce and deliver
network television services, operate television stations, produce and distribute motion pictures, operate
cable/satellite networks, operate theme parks, and program activities in multimedia and the Internet. Through
another affiliate, General Electric Capital Services, Inc., we offer a broad array of financial and other services
including consumer financing, commercial and industrial financing, real estate financing, asset management and
leasing, mortgage services, consumer savings and insurance services, and reinsurance.
In virtually all of our global business activities, we encounter aggressive and able competition. In many
instances, the competitive climate is characterized by changing technology that requires continuing research and
development, as well as customer commitments. With respect to manufacturing operations, we believe that, in
general, we are one of the leading firms in most of the major industries in which we participate. The NBC
Television Network is one of four major U.S. commercial broadcast television networks. We also compete with
syndicated broadcast television programming, cable and satellite television programming activities and in the
motion picture industry. The businesses in which GECS engages are subject to competition from various types of
financial institutions, including commercial banks, thrifts, investment banks, broker-dealers, credit unions, leasing
companies, consumer loan companies, independent finance companies, finance companies associated with
manufacturers, and insurance and reinsurance companies.