Bill Herbert

General Electric: Genuine Risk of Collapse?

>>took over from icon Jack Welch in 2001<<

Yeah, Immelt took over from Welch, who is wrongly credited as some sort of management guru.

The truth is - GE amassed a HUGE amount of leverage under Jack Welch, almost like a hedge fund. Lots of risky loans and huge debts. But it was a big bull market, and it didn't blow up in his face.

Now it is ready to blow up, and Immelt gets blamed??

Puh-leeze! Jack Welch is perhaps the most overrated CEO in the history of American business. He is, without a doubt, one of THE most self-aggrandizing. The fact that this joker took about $1 BILLION of compensation out of GE is truly disgusting, and shows how very corrupt and distorted our business systems are here in the U.S. - from executive pay to a wildly distorted stock market that overvalued GE for the last twenty years, at least.