GE 2015 Annual Report Download - page 49

ABOUT GENERAL ELECTRIC
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COMPETITIVE CONDITIONS AND ENVIRONMENT
In 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. 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 businesses in
which GE Capital engages are subject to competition from various types of financial institutions, including commercial banks,
investment banks, leasing companies, independent finance companies, finance companies associated with manufacturers and
insurance and reinsurance companies.
As a diverse global company, we are affected by world economies, instability in certain regions, commodity prices, such as the price of
oil, and foreign currency volatility. Other factors impacting our business include:
x product development cycles for many of our products are long and product quality and efficiency are critical to success,
x research and development expenditures are important to our business and
x many of our products are subject to a number of regulatory standards.
These factors are discussed throughout MD&A.
OUR EMPLOYEES AND EMPLOYEE RELATIONS
At year-end 2015, General Electric Company and consolidated affiliates employed approximately 333,000 persons, of whom
approximately 125,000 were employed in the United States. For further information about employees, see the Other Financial Data
section within the MD&A.
Approximately 16,000 GE manufacturing and service employees in the United States are represented for collective bargaining
purposes by one of 11 unions (approximately 82 different locals within such unions). A majority of such employees are represented by
union locals that are affiliated with the IUE-CWA, The Industrial Division of the Communication Workers of America, AFL-CIO, CLC. In
June 2015, we negotiated new four-year collective bargaining agreements with most of our U.S unions. These agreements continue to
provide employees with good wages and benefits while addressing competitive realities facing the Company.
Other GE affiliates are parties to labor contracts with various labor unions, also with varying terms and expiration dates that cover
approximately 3,300 employees.
PROPERTIES
Manufacturing operations are carried out at approximately 206 manufacturing plants located in 40 states in the United States and
Puerto Rico and at approximately 295 manufacturing plants located in 39 other countries.
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