Table of Contents
General Electric (GE) made many things like TV shows, light bulbs, and appliances for American families. It also provided electricity and bank loans to people. But the company is much smaller now.
Thomas Edison started GE in 1892. Later, CEO Jack Welch helped GE become the biggest company in the world. But, in the 2000s it had too much debt to pay back.
In 2018, Larry Culp became the CEO of GE. He started selling parts of the company to pay back the debt. In 2020, GE sold its light bulb business.
Before Culp started, GE had already sold its appliance business to a Chinese company in 2016.
In November 2021, GE said it would become three companies: GE Healthcare, GE Aerospace, and GE Vernova. GE Healthcare became a separate company last year. GE Aerospace and GE Vernova became two separate companies on April 2 this year.
GE’s stock price went down a lot in 2017 and 2018. But, because of Culp, the stock price of GE went up almost 100% in 2023. This year, it went up 37%.
Vocabulary
- TV show – A story or program you watch on television; a short “movie” on TV
- Light bulb – A thing that gives light when it’s turned on; 💡
- Appliance – a machine like toaster, oven, microwave, washing machine, dishwasher, etc
- Provide – to give or supply something that is needed or requested
- Electricity – power; current; energy used to operate lights, TVs, etc.; ⚡🔌
- Loan – Money that is borrowed from someone or a bank and needs to be paid back with interest
- CEO (Chief Executive officer) – the top person in a large company; president; boss
- Debt – Money that you owe to someone; money that you have to pay back
- Pay back – To return money that you borrowed from someone; To give back money you borrowed
- Part – a piece of something; a section of a whole thing; not the whole thing
- Separate – not together; disconnected; individual; not one; not related
- Stock – the money a company has from selling shares (parts of the company) on the stock market
- Stock price – the value or cost of a single share of a company’s stock in the financial market; the price of one small piece of a company which can be bought in a stock market like “the New York Stock Exchange on Wall Street”
Discussion Questions
- Why do you think GE decided to sell parts of its company?
- Why do you think General Electric (GE) sold its light bulb and appliance businesses? Why do you think other companies wanted to buy them?
- Do you think GE’s stock price going up is a good sign for the company’s future? Why or why not?
- Do you think big companies like GE should provide many products and services, or should they specialize on a few products? Why?
- English teachers looking for teaching ideas, check out my post on using easy news articles for lessons.
- English learners looking for study ideas, check out my post on using news stories for English practice.
Original Story
Fill-in-the-Blank Listening Practice
General Electric (GE) _____ many things like TV shows, light bulbs, and _____ for American families. It also provided electricity and bank loans to _____. But the company is much smaller now.
Thomas Edison started GE in _____. Later, CEO Jack Welch helped GE become the biggest _____ in the world. But, in the 2000s it had too much debt to _____ back.
In 2018, Larry Culp became the CEO of GE. He _____ selling parts of the company to pay back the debt. In _____, GE sold its light bulb business.
Before Culp started, GE had _____ sold its appliance business to a Chinese company in _____.
In November 2021, GE said it would _____ three companies: GE Healthcare, GE Aerospace, and GE Vernova. GE Healthcare became a _____ company last year. GE Aerospace and GE Vernova became two separate companies on April _____ this year.
GE’s stock price went down a _____ in 2017 and 2018. But, because of Culp, the stock _____ of GE went up almost 100% in 2023. This year, it went up _____%.
