…to Electrolux, for $3.3 billion.
Today’s WSJ story on the sale began with the words “General Electric, which commercialized the electric toaster and self-cleaning oven”…sounds sort of trivial Actually, household appliances have been an important factor in the liberation of human energies and in social change.
Owen Young, who was GE’s chairman from 1922-1939, grew up as a farm boy. To his biographer Ida Tarbell, he described what life had been like on each Monday–wash day:
He drew from his memory a vivid picture of its miseries: the milk coming into the house from the barn; the skimming to be done; the pans and buckets to be washed; the churn waiting attention; the wash boiler on the stove while the wash tub and its back-breaking device, the washboard, stood by; the kitchen full of steam; hungry men at the door anxious to get at the day’s work and one pale, tired, and discouraged woman in the midst of this confusion.