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What Happened To GE?

Mandel Ngan
/
AFP/Getty Images

For almost a century, General Electric was a powerhouse of the American economy, a byword for progress, innovation, and excellence.

GE did everything, from light bulbs to jet engines to medical devices to banking. And it was that last little venture that turned out to be a bridge too far. GE got into the business just ahead of the financial crisis, and once the dust from that debacle had settled, GE found itself more than a little dinged up. A decade later, the company still hasn't recovered. Today on The Indicator, we find out what brought GE to its knees.

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Note: the audio has been updated with a correction after saying GE created the jet engine.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

Stacey Vanek Smith is the co-host of NPR's The Indicator from Planet Money. She's also a correspondent for Planet Money, where she covers business and economics. In this role, Smith has followed economic stories down the muddy back roads of Oklahoma to buy 100 barrels of oil; she's traveled to Pune, India, to track down the man who pitched the country's dramatic currency devaluation to the prime minister; and she's spoken with a North Korean woman who made a small fortune smuggling artificial sweetener in from China.
Cardiff Garcia is a co-host of NPR's The Indicator from Planet Money podcast, along with Stacey Vanek Smith. He joined NPR in November 2017.