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(The Motley Fool)   General Electric is shedding divisions so fast, it will be renamed Particular Electric   (fool.com) divider line
    More: Followup, Late-2000s recession, General Electric, Business cycle, finance division, series of businesses, Financial crisis of 2007-2010, helm of industrial conglomerate GE, piece of its healthcare division  
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603 clicks; posted to Business » on 03 Jun 2020 at 6:17 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-06-03 8:40:02 AM  
6 votes:
Not this shiat again.

I worked with a bunch of ex GE people while I was in college and then at GE as a contractor right after college. Any GE employee from that era will tell you a hundred stories of how Jack Welch ruined GE. That's why they called him "Neutron Jack"; he got rid of all the employees but left the buildings standing.
 
2020-06-03 10:38:11 AM  
4 votes:

Unscratchable_Itch: Not this shiat again.

I worked with a bunch of ex GE people while I was in college and then at GE as a contractor right after college. Any GE employee from that era will tell you a hundred stories of how Jack Welch ruined GE. That's why they called him "Neutron Jack"; he got rid of all the employees but left the buildings standing.


He also cooked the books for decades. He consistently beat consensus earnings estimates by a penny. Quarter after quarter. Year after year. Then he left his house of cards for Immelt to clean up.

ritholtz.comView Full Size


https://ritholtz.com/2012/10/ges-jack​-​welch-on-bls-book-cooking/
 
2020-06-03 8:55:38 AM  
4 votes:

Unscratchable_Itch: Not this shiat again.

I worked with a bunch of ex GE people while I was in college and then at GE as a contractor right after college. Any GE employee from that era will tell you a hundred stories of how Jack Welch ruined GE. That's why they called him "Neutron Jack"; he got rid of all the employees but left the buildings standing.


And then he and his successors knocked the buildings down to save on city \ county property tax payments

CSB time: coworker was a son of a retired GE executive that ranted, eloquently and at length, about what a farkup and criminal Jack Welsh was. The TL;DR version was "moving assets from one division to another shouldn't be counted as income for the target division"
 
2020-06-03 8:24:38 AM  
3 votes:
That biatch Carole Baskin Jack Welsh.
 
2020-06-03 11:10:45 AM  
2 votes:
Who could have guessed that trying to get into every conceivable business, no matter how unrelated, and centrally manage all those entities the same way to the exclusive benefit of the "shareholders" (the exectuives and hedge fund owners) would turn out poorly?
 
2020-06-03 8:50:49 AM  
2 votes:
GE becoming a big player in healthcare does not give off the good vibe.
 
2020-06-03 7:37:02 AM  
2 votes:
Jack Welch might want the bottom 25% back.
 
2020-06-03 10:45:07 AM  
1 vote:

cefm: Jack Welch might want the bottom 25% back.


Welch did more than anyone else to destroy GE. He was a toxic asshole who's toxic policies lingered long after his removal.
 
2020-06-03 7:29:42 AM  
1 vote:
The HQ move to the Seaport District in Boston
from CT was a flop.
 
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