Jack Welch did little to bring GE into fiscal reality but Jeffrey Immelt ran GE into the ground in about 14 known ways including jetting around with two jets...one for himself and his entourage and the other for their baggage. Immelt also walked away leaving the shareholders holding his bag full of mistakes and utter incompetencies. As for John Flannery, he was an Immelt clone who couldn't improvise if someone elses buttocks depended on it....why in the hell the GE Board kept Immelt and then was totallly dumb enough to hire his twin financial dummy is beyond reason.
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I have never seen a company in my experisence with several that was so into having multiple teams being funded to see "whuch one will win" nor such a level of "empire building" without any regard of whether it was good for the corporation or not.
Jack Welch is responsible for every single problem GE is facing. Just thinking about him and his psychopath behavior makes me want to vomit. America at its worst. He should be in jail. Toxic man that created a toxic culture. Larry has to wreck this house first, and then rebuild it on firm foundations.
One thing is very true here— we always have and look for a throat to choke.
Mr. Obvious is correct... I have never seen so many non-leaders...with back biting, lies, and outright employee sabotage in my entire career...pitiful little place with miserable little people...
JW specifically prided himself on putting HR in charge of the promotion and training process. Between the two of them they ran off all the leaders and trained any remaining leadership out of the rest. This became even more obvious as JF was consistently surprised by reality and moving sooooo slowly. This is why the board had to bring in an outside person. There was just no one in GE who could lead the company. This is ultimately JW's fault.
Mr. Obvious has spoken