https://nypost.com/2020/07/11/how-a-power-hungry-ceo-drained-the-light-out-of-general-electric/
Sorry not to see him prison.
7 replies (most recent on top)
Thank you Paul Harvey! I see what you did there @2zot+15Tw2GGn
According to Wikipedia, Immelt was voted one of the "World's Best CEOs" three times. The Financial Times named him "Man of the Year" in 2003. Immelt was named to Time magazine's 100 most influential people in the world in 2009. In 2009, Immelt won the Oslo Business for Peace Award, an award chosen by winners of the Nobel Prizes in Economics and Peace and given to leaders in the private sector who have demonstrated transformative and positive change through ethical business practices. In 2017, Immelt was honored with an Edison Achievement Award for his commitment to innovation throughout his career. He has other awards.
And now you know the rest of the story...
This is a problem in corporate America that so far no one has been able to get a handle on : How to hold executives who through gross neglect, greed or incompetence utterly ruin your company. Right now such execs like Jeff Immelt still go scott free and with millions of $$$!!
It's not illegal to be a c-appy CEO and it's not like any of us didn't know he was one. You're a chump if you though anything good would come from his mismanagement in the long run. Everything is falling apart as it should, like it or not. No guarantees are going to save any of us. If GE can save itself from the brink, then it will be a model of what to do when things go bad. If it crumbles and goes off the cliff, then it will be an example of what not to do. Since GE has always been viewed as Too Big To Fail, it might be the most valuable training aid the corporate world will ever get.
Do your own research. Start here and go down the rabbit hole.
https://www.secform4.com/insider-trading/40545.htm
They are all corrupt and should be turn over to the people to determine their fate. The law will only let them slide. As all real corporate criminals do.
I think he is being prosecuted by some federal agency including SEC.
Yeah, I was kind of hoping for something new about Jeff...