Westinghouse Electric Corporation

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Westinghouse Electric Corporation
Formerly
  • Westinghouse Electric & Manufacturing Company (1886–1945)
  • Westinghouse Electric Corp. (1945–1997)
  • CBS Corporation (1997–2000)
Company type Public (1916–1997) [1]
NYSE: WX (1916–1997) [1]
FoundedAugust 8, 1886;138 years ago (1886-08-08)
Founder George Westinghouse
DefunctApril 26, 2000;24 years ago (2000-04-26)
FateRenamed CBS Corporation in 1997, then merged with Viacom in 2000
Successor
Headquarters
Pittsburgh, Pennsylvania
,
U.S.
Area served
Worldwide
Divisions
Subsidiaries

The Westinghouse Electric Corporation was an American manufacturing company founded in 1886 by George Westinghouse and headquartered in Pittsburgh, Pennsylvania. It was originally named "Westinghouse Electric & Manufacturing Company" and was renamed "Westinghouse Electric Corporation" in 1945. Through the early and mid-20th century, Westinghouse Electric was a powerhouse in heavy industry, electrical production and distribution, consumer electronics, home appliances and a wide variety of other products. They were a major supplier of generators and steam turbines for most of their history, and was also a major player in the field of nuclear power, starting with the Westinghouse Atom Smasher in 1937.

Contents

A series of downturns and management missteps in the 1970s and 80s combined with large cash balances led the company to enter the financial services business. Their focus was on mortgages, which suffered significant losses in the late 1980s. In 1992 they announced a major restructuring and the liquidation of their credit operations. In 1995, in a major change of direction, the company acquired the CBS television network and renamed itself CBS Corporation. Most of its remaining industrial businesses were sold off at this time. CBS Corp was acquired by Viacom in 1999, a merger completed in April 2000. [9] The CBS Corporation name was later reused for one of the two companies resulting from the split of Viacom in 2005.

One of the few remaining original lines of business to survive this process was the nuclear power division, which was sold to BNFL in 1999 and re-formed as Westinghouse Electric Company. The Westinghouse trademarks are owned by Westinghouse Electric Corporation, [10] and were previously part of Westinghouse Licensing Corporation. [10] [11]

History

Beginnings

George Westinghouse, founder George Westinghouse 1884.png
George Westinghouse, founder

Westinghouse Electric was founded by George Westinghouse in Pittsburgh, Pennsylvania, on January 8, 1886. Building on the advancement of AC technology in Europe, [12] the firm became active in developing alternating current (AC) electric infrastructure throughout the United States. The company's largest factories were located in East Pittsburgh, Pennsylvania, Lester, Pennsylvania [13] and Hamilton, Ontario, where they made turbines, generators, motors, and switch gear for the generation, transmission, and use of electricity. [14] In addition to George Westinghouse, early engineers working for the company included Frank Conrad, Benjamin Garver Lamme, Bertha Lamme (first woman mechanical engineer in the United States), Oliver B. Shallenberger, William Stanley, Nikola Tesla, Stephen Timoshenko, and Vladimir Zworykin.

Early on, Westinghouse was a rival to Thomas Edison's electric company. In 1892, Edison was merged with Westinghouse's chief AC rival, the Thomson-Houston Electric Company, making an even bigger competitor, General Electric. Westinghouse Electric & Manufacturing Company changed its name to Westinghouse Electric Corporation in 1945.[ citation needed ]

1990s

In 1990, Westinghouse experienced a serious setback when the corporation lost over one billion dollars due to bad high-risk, high-fee, high-interest loans made by its Westinghouse Credit Corporation lending arm. [15]

In an attempt to revitalize the corporation, the board of directors appointed outside management in the form of CEO Michael H. Jordan, who brought in numerous consultants to help re-engineer the company in order to realize the potential that they saw in the broadcasting industry. Westinghouse reduced the workforce in many of its traditional industrial operations and made further acquisitions in broadcasting to add to its already substantial Group W network, including Infinity Broadcasting, TNN, CMT, American Radio Systems, and rights to NFL broadcasting. These investments cost the company over fifteen billion dollars. To recoup its costs, Westinghouse sold many other operations, including its defense electronics division, its metering and load control division (which was sold to ABB), its residential security division, the office furniture company Knoll, and Thermo King. [16]

Westinghouse purchased CBS Inc. in 1994 for $5.4 billion. [17] Westinghouse Electric Corporation changed its name to and became the original CBS Corporation in 1997. [18] Also in 1997, the Power Generation Business Unit, headquartered in Orlando, Florida, was sold to Siemens AG of Germany. [19] A year later, CBS sold all of its commercial nuclear power businesses to British Nuclear Fuels Limited (BNFL). [20] In connection with that sale, certain rights to use the Westinghouse trademarks were granted to the newly formed BNFL subsidiary, Westinghouse Electric Company. [20] That company was sold to Toshiba in 2006. [21]

Patents

During the 20th century, Westinghouse engineers and scientists were granted more than 28,000 U.S. patents, the third most of any company. [22]

Products and sponsorships

Environmental incidents

There have been a number of Westinghouse-related environmental incidents in the US. Below is a short list of these. All of these are chemical pollution incidents; none of them involve nuclear reactors or nuclear pollution.

Timeline of company evolution

1880s

1888 Westinghouse brochure advertising their Alternating system Westinghouse Electric Company (1888 catalogue).jpg
1888 Westinghouse brochure advertising their Alternating system
Share of the Westinghouse Electric and Manufacturing Company, issued March 31, 1910 Westinghouse Electric and Manufacturing Comp. 1910.jpg
Share of the Westinghouse Electric and Manufacturing Company, issued March 31, 1910

1890s

1900s to 1920s

1924 book on protective relays for AC and DC electrical systems by the company SilentSentinelscover.png
1924 book on protective relays for AC and DC electrical systems by the company

1930s and 1940s

1950s to 1970s

Logo designed by Paul Rand in 1959 Westinghouse logo paulrand1959.png
Logo designed by Paul Rand in 1959

1980s

1990s to 2020s

Logo used by original CBS Corp CBS Corporation 1997.svg
Logo used by original CBS Corp

Employees

CEOs

Other

Overseas subsidiaries

Westinghouse established subsidiary companies in several countries including British Westinghouse and Società Italiana Westinghouse in Vado Ligure, Italy. British Westinghouse became a subsidiary of Metropolitan-Vickers in 1919 and the Italian Westinghouse factory was taken over by Tecnomasio in 1921.

See also

Related Research Articles

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George Westinghouse Jr. was a prolific American inventor, engineer, and entrepreneurial industrialist based in Pittsburgh, Pennsylvania. He is best known for his creation of the railway air brake and for being a pioneer in the development and use of alternating current (AC) electrical power distribution. During his career, he received 362 patents for his inventions and established 61 companies, many of which still exist today.

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Westinghouse may refer to:

Westinghouse Electric Company LLC is an American nuclear power company formed in 1999 from the nuclear power division of the original Westinghouse Electric Corporation. It offers nuclear products and services to utilities internationally, including nuclear fuel, service and maintenance, instrumentation, control and design of nuclear power plants. Westinghouse's world headquarters are located in the Pittsburgh suburb of Cranberry Township, Pennsylvania.

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The Westinghouse Astronuclear Laboratory (WANL) was a division of Westinghouse Electric Corporation. Established in 1959 to develop nuclear space propulsion technologies for the government, the lab was located, for most of its history, in the paradoxically small town of "Large" along Pa. Rte 51, about 13 miles (21 km) south of Pittsburgh in Allegheny County, Pennsylvania, USA. The site is not far from the Bettis Atomic Power Laboratory in West Mifflin, which Westinghouse operated during the same time and later.

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<span class="mw-page-title-main">Westinghouse Licensing Corporation</span> Subsidiary that manages the Westinghouse brand

The Westinghouse Licensing Corporation was a Delaware General Corporation Law organized subsidiary that was founded in 1998 by Westinghouse-CBS in managing the intellectual property assets relating to the Westinghouse trademarks produced from 1886 until 1996. The Westinghouse name and trademarks were purchased from ViacomCBS in 2021 by a new company called Westinghouse Electric Corporation.

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