In his recent one-volume history of American capitalism, “Americana,” author Bhu Srivnivasan recounts the rise of many of the country’s large corporations in the late 19th century, including the long-standing U.S. industry stalwart, General Electric. GE was formed when Wall Street bankers engineered the merger of two fledgling electrical services providers, including the company formed by Thomas Edison, Edison Electric. The company has since grown to become a massive conglomerate and something of a mainstay of the U.S. commercial economy, in many ways a bellwether for the country’s economic health and a representative example of the country’s industrial might. More recently the company has gone through some high-profile struggles, drawing questions for the company’s management – and as discussed below, attracting securities class action litigation as well.
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