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Crusty Old B*stard
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He was hated by many of the people who worked for the businesses that he either closed or sold off. Many of the people who were caught in the waves of layoffs were too young to retire but too old to be competitive in the job market. He ruined a lot of lives.
 
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He was hated by many of the people who worked for the businesses that he either closed or sold off. Many of the people who were caught in the waves of layoffs were too young to retire but too old to be competitive in the job market. He ruined a lot of lives.
GE has always been, at least in modern history, an advocate of performance management.

Divesting itself of the lowest percentage of its lowest performers, be it product, personnel, or even an entire division, is something that has been germane to General Electric, long before Jack Welch took the helm as CEO.

By moving the lowest performers out the door, the logic was that it freed up resources to pursue personnel and products that would better benefit the company. That method has at least some degree of merit, as Welch increased company profitability by 4000% during his tenure.
 

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The Power of the Glave
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He was also a pioneer and advocate of outsourcing American jobs. Such as GE's appliance division. To China and India.

Here's a quote from The Week:

Welch said: "companies should seek to lower costs and maximize profits by moving operations wherever is cheapest."
He went on to say: “Ideally, you’d have every plant you own on a barge to move with currencies and changes in the economy.” Not only did GE offshore much of its manufacturing, so did its parts suppliers, which were instructed at GE-orchestrated “supplier migration seminars” to “migrate or be out of business.”
 

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More than .0001%
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I joined GE in 1979 and considered myself lucky to survive 30 years. His management style was brutal but it delivered results. I’ll always appreciate the opportunities and the career GE provided me and my family.
 

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Jeff Immelt picked up where Jack left off. The X-ray division had been in the US for over 100 years. It is now in India.
 
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If you are / were a shareholder you have a lot to thank Welch for during his tenure. If you were rank and file probably not.
 

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The Power of the Glave
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If you are / were a shareholder you have a lot to thank Welch for during his tenure. If you were rank and file probably not.
I agree. Mr. Welch probably made a few investors very happy. He also caused misery for vast numbers of our fellow Americans.

We blame China for destroying America's blue-collar industries. But they couldn't have done it without the active connivance of people like Welch and others like him. The difference with Mr. Welch was that he didn't attempt to hide it, and was one of the first ones to forcefully advocate for outsourcing.

Yes--I know he "increased GE's profitability 4000%...yada...yada". But he was also the John the Baptist of the ideas that destroyed the middle class in this country, and weakened America economically.

And these ideas were the focusing on short-term profits and a priority of U.S. businesses to only care about the interests of the stockholders. Rather than the workers. Or indeed the economic health of the American economy. Leading directly to what we have today--a "slash and burn" strip-mining attitude by corporations. Far more interested in quarterly profit statements. Then they are in long-term investment in America and it's citizens.

And while Welch and others like him were busy outsourcing jobs, they were taking advantage of every possible thing this country could offer. It's well known that GE hasn't paid a nickle in corporate taxes in years. Not only that, they have gotten refunds. Welch took full advantage of the infrastructure, the education system, and the subsidies that were available here in America.

Now here's the point where morality comes in. For my part, I go out of my way to buy "Made in USA". Even if it costs me a little more. Knowing that I am helping working class people like myself.

There are others who look at the example of Welch and GE, and think "more power to 'em!" And that's your right. I'm not here to proselytize and try to convert you.

I'm sure there were plenty of folks who smiled at how much their GE stock went up in the 1980's. While their neighbor down the street lost his job at GE, when they decided to move the plant to low-wage China. But that shows the moral choices that we make. I take the other tack. And while it will never make me a millionaire, at least I can be satisfied that I made the choice my conscience can live with.
 

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I agree. Mr. Welch probably made a few investors very happy. He also caused misery for vast numbers of our fellow Americans.

We blame China for destroying America's blue-collar industries. But they couldn't have done it without the active connivance of people like Welch and others like him. The difference with Mr. Welch was that he didn't attempt to hide it, and was one of the first ones to forcefully advocate for outsourcing.
Going to add this for consideration: we as Americans have no one to blame but ourselves. Seriously, think about it. For long we've demanded high wages and cheap goods and services. Combine that with an anti-business climate and excessive government regulation across several administrations as well as questionable labor agreements. All of those factors have contributed in part to the situation we have now. Welch was a leading advocate if not the pioneer in pushing outsourcing to counter the above. The result of that was part of what Americans demanded. Unfortunately, it comes at the expense of the other.

Still want to hang all of that on Welch? Because honestly you can't.
 
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I agree. Mr. Welch probably made a few investors very happy. He also caused misery for vast numbers of our fellow Americans.

We blame China for destroying America's blue-collar industries. But they couldn't have done it without the active connivance of people like Welch and others like him. The difference with Mr. Welch was that he didn't attempt to hide it, and was one of the first ones to forcefully advocate for outsourcing.

Yes--I know he "increased GE's profitability 4000%...yada...yada". But he was also the John the Baptist of the ideas that destroyed the middle class in this country, and weakened America economically.

And these ideas were the focusing on short-term profits and a priority of U.S. businesses to only care about the interests of the stockholders. Rather than the workers. Or indeed the economic health of the American economy. Leading directly to what we have today--a "slash and burn" strip-mining attitude by corporations. Far more interested in quarterly profit statements. Then they are in long-term investment in America and it's citizens.

And while Welch and others like him were busy outsourcing jobs, they were taking advantage of every possible thing this country could offer. It's well known that GE hasn't paid a nickle in corporate taxes in years. Not only that, they have gotten refunds. Welch took full advantage of the infrastructure, the education system, and the subsidies that were available here in America.

Now here's the point where morality comes in. For my part, I go out of my way to buy "Made in USA". Even if it costs me a little more. Knowing that I am helping working class people like myself.

There are others who look at the example of Welch and GE, and think "more power to 'em!" And that's your right. I'm not here to proselytize and try to convert you.

I'm sure there were plenty of folks who smiled at how much their GE stock went up in the 1980's. While their neighbor down the street lost his job at GE, when they decided to move the plant to low-wage China. But that shows that moral choices that we make. I take the other tack. And while it will never make me a millionaire, at least I can be satisfied that I made the choice my conscience can live with.
I remember (former Treasury Secretary under Reagan to WH Chief of Staff) Don Regan's book, 'For the Record', in which Reagan was dumbfounded to learn that none had paid a nickel in taxes for years.

The problems aren't so much with people like Welch, but rather with the lawmakers that create the environment that allows corporations and individuals to legally shirk their responsibilities and live off the backs of everyone else.

The entire tax code could probably be made fair and reduced to 100 pages, but it would mean that common sense have to be interjected into the subject.
 

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Combat marxism Now!
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He was hated by many of the people who worked for the businesses that he either closed or sold off. Many of the people who were caught in the waves of layoffs were too young to retire but too old to be competitive in the job market. He ruined a lot of lives.
GE did not owe any of those workers jobs. Furthermore, none of those workers had to work for GE. That was a choice, and I'm sorry those workers did not have the foresight to save money for the bad times ahead.

Prosperity requires competitiveness. GE, for many years, was a competitive company. But even Chainsaw Al or the mighty Jack Welch can't make that old American dinosaur competitive with Asian competition.

Nor did anyone have to invest in GE. It really is that simple.

Don't like it??? Start your own company and see if there are sufficient funds to cover all employee needs.
 
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GE did not owe any of those workers jobs. Furthermore, none of those workers had to work for GE. That was a choice, and I'm sorry those workers did not have the foresight to save money for the bad times ahead.
Nobody stated that GE owed anyone a job, that anybody had to work for GE, nor that any of the GE workers did or didn't save money.

Prosperity requires competitiveness. GE, for many years, was a competitive company. But even Chainsaw Al or the mighty Jack Welch can't make that old American dinosaur competitive with Asian competition.
True enough.

Nor did anyone have to invest in GE. It really is that simple.
That is true as well. Though one would have to be a fool to not invest with a corporation that managed to increase revenues 4000%.

Don't like it??? Start your own company and see if there are sufficient funds to cover all employee needs.
Again, where are you getting this? Harry merely stated that a fact.
 

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Combat marxism Now!
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Nobody stated that GE owed anyone a job, that anybody had to work for GE, nor that any of the GE workers did or didn't save money. Again, where are you getting this? Harry merely stated that a fact.

He ruined a lot of lives.
Harry stated Jack ruined lives, a lot of them. That's simply not so, in any way. I clearly pointed out why.
 
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Harry stated Jack ruined lives, a lot of them. That's simply not so, in any way. I clearly pointed out why.
Actually it is so from a certain perspective, but not in the ways that places Welch as the business version of Lucifer.
 

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We blame China for destroying America's blue-collar industries. But they couldn't have done it without the active connivance of people like Welch and others like him.
How about the people who wouldn't pay the price for American made products if they could buy Chinese junk?

Didn't they have just as much to do with things?
 
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