Thread regarding General Electric Co. layoffs

Just brought back a rat.

This is the most despicable payday orgy I've ever witnessed. What a horribly vile and disgusting bunch of incompetent frat boys we have running GE. I would not trust any of these a$$-clowns to manage a 7-Eleven.

JVL, you just take "twisted" to a new level.

GE has the money to pay him because it eliminated the spare jet, the company car program for the 700 top managers, the annual three-day retreat in Boca Raton for top management, and it shutdown the Shanghai, Munich and Rio de Janeiro research centers. Plus the money GE saved from underfunding the Pension fund.

Decisions are made by those who show up.

In the land of the blind, the one-eyed man is king.

You are not that naive, are you? Or only PowerPoint smart?

To fight against bunch of wolves?

Perfect example of a fox guarding the henhouse.

The author has no real world business experience. Trust and relationships win more business than lower price.

Think of this... $2MM is only a price of it... add another $.5MM for travel and living expenses and I’m sure his own Admin. Heard to went to Crotonville to give a rah, rah rally speech... wow that’s just what we need! That will turn the business around!

Meanwhile, Global Ops got rid of the free coffee, and JA gave us a huge speech about how we all have to make sacrifices for GE to thrive.

Think of this...,. Part time Rice might have been the best choice. GE doesn't have an internal leader who can do the job. A company that prides itself on leadership development hasn't developed a leader who is better than someone hired before JW was CEO.

Ridiculous! Absolutely ridiculous!

His compensation is for only "Part Time" work. Imagine how much leadership would have paid him if hew was "Full Time."

From Bloomberg... "Offering an outsize salary to a veteran brought out of retirement for a part-time job raises questions about just how much GE has learned."

"For every step General Electric Co. takes toward overhauling its culture, it seems to take a step back."

"That’s nearly twice the median salary for CEOs at companies in the Standard he isn’t even a full-time employee.

And while a $2 million pay award is minuscule compared with GE’s estimated $100 billion liabilities, those extra millions add up. It’s this kind of thing that’s left GE — the supposed champion of the by-the-numbers Six Sigma strategy — with such a bloated cost structure. Fixing GE is about much more than simply cutting expenses or selling off assets, after all. For the recovery to stick, the company has to attack the cultural rot that allowed it to go from corporate icon to cautionary tale. And on this front, GE just can’t seem to get out of its own way."

Disgusting... a slap in the face of all the remaining employees. Could save atleast 14-15 jobs on what we’re spending on this guy. He should be paying back GE for his part in taking the company down. Nothing but an Immelt yes man!

Absolutely absurd. Culp and the BOD making another strategic error. How in hell can they justify bringing a guy back that was the #2 guy under Immelt and has as much dirt in their hands as anyone for the situation GE is in. Walks away with $63MM+ and has the gall to come back saying he wants to help at $2MM. This from a man who lived the high life in one of the most expensive cities in the world (Hong Kong) put an organization together(GGO) that for the most part was non value add except siphoning more cash. Amazing how you can get on board with Culp and believe he might be the right guy and then he makes s bone head move like this. If Rice is the only answer we have we’re in more trouble than anyone thought. Larry you lost the team in this one. For 5 years Power employees raises haven’t even kept up with inflation and most likely no raise again this year but yet for every dime we’re being forced to save these decisions just draw down the coffers even more at the expense of the all the other employees trying to pull this company out of the ditch. Shame on you and the BOD.