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I didn't come up with it. It is the yardstick that he suggested we use to measure his performance :) And it's a well-known issue with executive compensation th
by 0zymandias 6y ago
I didn't come up with it. It is the yardstick that he suggested we use to measure his performance :)
And it's a well-known issue with executive compensation that CEOs will juice numbers in the short-term to get their payouts which is likely why he proposed this as a measure of his performance.
- ping_pong 6y agoYes, I know. But it's a nonsensical way to measure it. Is sounds like something he said flippantly without thinking about what that meant, because it's meaningless.
- javajosh 6y agoAn interesting comment because it's a good example of what you see more and more of from people with a positive emotional disposition toward someone who won't let them fail or look bad even if its quite obvious that they failed, and it looks bad (and even if they themselves would admit it). As a factual matter, the measurement isn't meaningless at all. Give Jack some credit.
- ping_pong 6y agoSo are you saying that the new successors to GE have no agency at all, and they are just following a script? That's ridiculous. The CEOs of GE have not been great or successful but that's on them, not Welch.
- javajosh 6y agoPresumably Welch believed in the hiring system he put in place. It was also an audacious claim, which comes with its own rewards. But folks like you let Welch have his cake and eat it too: he gets the praise for making an audacious claim, and then when it turns out false, folks like you make excuses for him. It's good to be the king, I guess.
- ping_pong 6y agolol I never praised him for making an audacious claim, I've said it's nonsensical several times.