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Shortsightedness in American business never fails to amaze me. You would think that a company as old as GE would be able to recognize the difference between cap
by vinceguidry 8y ago
Shortsightedness in American business never fails to amaze me. You would think that a company as old as GE would be able to recognize the difference between capex and opex, but these sorts of missteps still seem absurdly common.
Even GE still struggles to understand software. It gives me hope that software engineers will become the next class of power players and the whole thing isn't going to get subsumed into finance like everything else. Even Apple is falling prey these days to finance-thinking.
- twunde 8y agoGE has really taken a significant step down under Jeff Immelt's tenure (how much is his fault is up for question). It certainly is no longer the place to go for managerial excellence. The people that are good, leave. The managerial rotation system leads to managers that make decisions for the short-term. The decisions just need to be good enough for the manager to get a promotion and then it's someone else's problem. Other issues have been being late and a dollar short to most things, requiring GE to spend $$$$ to be a late entry. Source: Multiple family members have worked for GE
- kevin_thibedeau 8y agoWelch turned the company into an agglomeration of warring fiefdoms. They are doomed to consume themselves. He got out because he knew the mess he created was unfixable.