Did Jack Welch destroy GE?

It’s trading around $6 today, and Henry Blodget says it’s Welch’s fault for  turning an industrial company into a failing commercial bank. Hey, works for me. Hope Welch’s ex-wife cashed in whatever GE stock she received in the divorce.

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4 responses to “Did Jack Welch destroy GE?

  1. anonymous

    Was GE a competent company before Welch was CEO?

    Places like GE have had the slow kids forever….who signs up for low pay for decades and to suffer life selling widgets in various awful locales?

    A “young” CEO is 45 yo

    45 yo hedgies or techies are elder, semi-retired statesmen of industry…and own their own G550 and don’t depend upon company paying for plane, unlike clowns like Welch (recall his post-retirement plane scandal of ~7 yrs ago)

  2. Kidding Really??

    Add GE to the scrap heap of broken stocks that people in Fairfield County are heavily invested in… whether being an employee or shareholder – people are way underwater. My point is that until local companies stop the massive bleeding, people won’t be buying homes in a similar fashion than the past 20 years! The “pent up demand” Greenwich real estate brokers think is out there is a myth. That cushion “Greenwich” people have with “lots of cash” to get through tough times” – is eroding FAST. I won’t be shocked to see some panic pricing start to occur in Greenwich.

  3. PoeticJustic

    GE remains in Immeltdown. Immelt has jumped from excuse to excuse since he took over the helm and the Board has been negligent in its unwilingness to replace him. Part of the problem is GE’s lack of bench strength. The best preformers at all levels left in the years after Jack retired. Now they have no real alternatives to current management. Immelt was a sales guy who never understood GE Capital and was forced to rely on Mike Neal, a guy who would sell out his mother, after the original builders of GE Capital moved on. Lack of understanding and mismanagement led to the Immeltdown which must end, although it may be too late. Plus, after taking government support what’s with the tens of millions in GE Cap bonuses in February? Where is Cuomo when you need him.

  4. Cos Cobber

    Can someone point to me a finance company that isn’t in the hurt box?