Jack Welch, financialization, and the true force behind US deindustrialization
Jack Welch, financialization, and the true force behind US deindustrialization Watch the video clips of 3 apostles of capitalism at the end, one unfortunately was not fictional Hua Bi N When I studied business in the mid-90s, there was no company more revered than General Electric and no CEO more respected than Jack Welch. For years, GE was honored as the most admired company in the world and was the most valuable by market cap. Jack Welch was the idol corporate chieftain case-studied in every business school and emulated by aspiring “corporate leaders”. He pioneered “the GE Way”. GE had an array of world leading businesses from aircraft engines, turbines, health care, NBC, Universal Studios, to refrigerators and light bulbs. GE Finance led in aircraft leasing and financing of capital goods produced by GE’s industrial units. GE executives were widely courted as corporate superstars. When Welch retired in 2001 and Jeff Immelt took over as CEO, several frontrunners to succeed Welch...