The hard truth about GE
No, Jack Welch wasn't dissing Jeff Immelt when he said his successor as GE's chief "has a credibility issue." He was just doing something he's famous for, which is telling the hard truth. Obviously Immelt has a credibility issue. The real question... 7 months ago
Fortune Magazine Click here to Read the Full Story
Digg
del.icio.us
Reddit
Stumble
Newsvine
Facebook
As a GE shareholder, I couldn't agree more with Welch when he says: Here's the screw-up. "You made a promise that you'd deliver this, and you miss three weeks later." The stock dropped 12% on the news. The problem, as always in these cases, wasn't the news itself but rather what it implied. If Immelt didn't know three weeks earlier that he had an earnings disaster on his hands, especially in a company with the sophisticated, bulletproof financial procedures of General Electric, then something must be really wrong. --- For a stock like GE to drop 12% in one day, obviously something was and is wrong.
Is GE doing Business with IRAN? Fox news says Yes. MSNBC says No.