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or did Jeff Immelt squander it? It took almost 20 years for GE to fall apart, after all. I think that's more likely. At the end of Jack's tenure, GE was one of
by mjfl 4y ago
or did Jeff Immelt squander it? It took almost 20 years for GE to fall apart, after all. I think that's more likely. At the end of Jack's tenure, GE was one of the biggest, most profitable companies in the world.
- acdha 4y agoHe introduced financialization, which turned GE from a company which made useful things to an unregulated bank pursuing high-risk strategies. He promoted the idea that companies should only be loyal to shareholders, and in addition to cutting jobs he pushed offshore which hollowed out American manufacturing and cities, and helped build countries like China into strong competitors. That’s his legacy, not his successor’s.