It is very telling Welch was always on CNBC the mouthpiece of big business all the time. Never a hint of criticism of him, never questioning how is it possible that a complex conglomerate is having such predictable revenue and profits never missing the forecast.
Good ol "Ejack". Turned a bastion of productivity and prosperity into a burned out husk. But hey, a few shareholders got absolutely FILTHY rich, so there's that 🤷♂️
Warren Buffets fortune was thanks to Jack Welchs debts and assets. GE has a finance division that allowed me to by my first LCD Sony! It still works, and it is 13 years old! I use an indoor HD antennae .
I find it hard to believe letting go of 40 % of your workforce is merely trimming the fat. It sounds more like a numbers game to increase the bottom line. Letting go of the bottom 10% every year must have made it a great place to work. I don’t think he would have survived GE himself had his own policies been in place when he started.
Jack Welch and his successors destroyed what was once the greatest electrical products manufacturer in the world. They sold businesses and product lines that are still needed today because they refused to invest in them to stay ahead of the competition. They got into businesses that they knew nothing about! Banks don't make appliances for a reason. The same reason GE should never have gotten into finance. Stick to what you know and continue to invest to be the best.
He's a legend he fired lazy people occupying desk seats who are corporate waste... He turned around GE and saved money by firing people who didn't do a damn thing making hundred K... Lazy management who don't do anything should be fired...
A business is not a homeless camp. The CEO must make decisions that are sometimes brutal if those decisions ultimately benefit the company. The company is all.
GE was a fat far-flung dysfunctional company when Jack took the helm. He did what he had to do and lead one of the most amazing American success stories in the past 50 years! Sadly 9/11 hit and it was downhill from there.
