https://www.thetimes.co.uk/edition/business/did-jack-welch-build-his-general-electric-house-on-sand-nkmhx5vtp
9 replies (most recent on top)
Immelt spent 17 years undermining the foundations of a respected company. Greedy double digit growth year on year was his mantra.
Yes Jack absolutely did! Awesome beach front property to boot! What happens to all those beautiful houses on the East Coast?? That’s right, every now and again a hurricane comes along and totally destroys it. So guess what’s happening now?? Those of us who were with GE in the 70’s, through the 80’s and straight into the 90’s saw how it all happened. I doubt hardly anybody who participates on this site was a part of GE in the early 90’s. We knew things were changing and GE was getting better every year. The stock is worth much more now than it was back then in the beginning. Hell, I remember when GE gave it to their employees. Yes there were lots of pains brought on by Jack. Schenectady knows that too well but those working there don’t have a clue. GE Plastics did great with him. Especially Selkirk. People can rip on him all they want but the reality is that if you like you’re paycheck or pension, he’s the one you should be thanking. Do you think any Union would have any legs to stand on at the bargaining table for the lucrative deals that have happened through the past couple of decades? The D-Rates never would have existed if it wasn’t for all the shady math and behind closed door action. GE had a choice to either come clean all of those times or keep playing the game to keep the stock price up and pass the buck along. I’m sorry for those of you who got left holding the bill but somebody has to. That’s how it always ends up. It’s not like you didn’t have a fun run at it yourselves or wouldn’t have gone all the way to the end if you could have.
They should have ranked and yanked GE's CEO's starting with Welch, just like he did to many hardworking employees. If you worked for GE you know what I'm talking about. Maybe a good theory but it was not practical when small groups who were all hard working smart people. People literally took turns being ranked low to protect their hardworking buddies.
Jack Welch was just another geedy sniveling bu—le that was born with a silver spoon in his mouth . Jack thought The blue collar worker was thought of as nothing more than common street trash. Don't look back on the past .
Is I melt going to prison any time soon ?
https://www.theonion.com/jack-welchs-retirement-perks-1819587219
Jack thought that if he gave excellent training to excellent people then an excellent company would result. We'll never know because either/or he didn't promote excellent people or give them excellent training.
Instead we got people who only make an excellent first impression.
Jack did build his house on sand and all the money that the company said it had is underneath jacks house. Fast forward many years and many people are about to loose their jobs over lies. The false sense of perception has finally caught up to GE.
Immelt is innocent...He is the biggest joke