Westinghouse Electric Corporation

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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 were also a major player in the field of nuclear power, starting with the Westinghouse Atom Smasher in 1937. A series of downturns and management missteps in the 1970s and 1980s 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...

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