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GE announced it's breaking into three. Meanwhile, tech companies continue to take over a wider swath of industries.
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With its announcement that it will spin off its healthcare unit in early 2023 and its energy segment in early 2024, GE may have signaled the end of the conglomerate era.
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GE was born when Thomas Edison's electrical company merged with a rival in 1892, and the company has been making (and inventing) lightbulbs ever since. Now it's selling off its lighting business.
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General Electric has had a steep fall from grace this year. Its stock has dropped and it's halving its dividend. Now GE watchers are wondering if the new CEO can pull off a dramatic turnaround.