In fact, I was one of the GER (GE reject) crowd, but afterward had a chance to visit with the father of my daughter's college roommate. He described how he had headed up the team that cleared out GE's middle management by firing or psychological bludgeoning. When that was finished, Welch then economically fired his whole "clean-out" team. Completely sand-bagged them. Nice guy, eh?
Yeah, we called him "Neutron Jack"--the people go, the buildings stay.
I have no doubt but that Jack and The Donald saw things eye to eye.
I wouldn't call that a good sign.
I thought Welch was a never Trumper during the campaign.
May be wrong.
Glasses of jade, maybe.
Trump is insistent on loyalty in important matters, but he isn’t cruel. One has to suffer more than a few peccadilloes before getting the “you’re fired” from the real life Donald. The unreality apprentice show really was a caricature and did real life Donald no justice. Some people try to advance through cruelty because they are truly ignorant of any better way of doing things. God will forgive it, but God won’t excuse it. It brings its own shackles sooner or later.
As a result of working for GE (defense division) many years ago, I gained a few shares of stock, which decades later are now many. Was shocked when my stock dropped from $50 to $5 a share. Next annual report almost a year later I saw that the top 7 executives were earning from $11 to $22million. No cut the following year either. Realized it was because so much of their business was now in the financial sector and that took a real bath ‘07 and ‘08. I fear that our President may do too much deregulating in the banking area. Welch left GE with a HUGE pile of money, oover $400million. And he is not the only one:
http://investorplace.com/2012/01/ceo-golden-parachute-executive-compensation/#.WJY251MrKM8
I am certainly glad he is trying to get useful input from some of the most successful (in terms of money) executives in business, but how many of them got that way from scrxxxxxg the workers and overpaying themselves and shipping work to cheap labor countries. What President Trump needs with this panel is a few people who have participated at the low end of the economic ladder to inject some little guy reality into the mix. I spent about 5 years working hard to save a group of small entrepreneurs from the ravages of Democrat politicians and corrupt police. Regulations were being used to harass these low income business people with endless fines, to force them from their business location so people who had paid bribes could take over their location. I finally left the Democrat party in disgust.
Our President has talked about lowering corporate income tax, but how is this going to be a good idea if he just runs up the debt. Here is one idea. In the 1960’s when income seemed better distributed than now, top CEO’s were paid about 40 times the amount as their low level workers. Now the ratios run from 200 to 1 up to 1,000 to 1. No wonder they are sending the jobs overseas and underpaying the workers here. There is a lot of talk about the $15 minimum wage. Multiply that by 40 and you get a number close to $1,500,000. So consider that as base pay for top execs, and don’t allow them to deduct more than that as corporate business expenses. What the IRS gets in business taxes from that saving can then finance the tax deduction for businesses overall. Many complain about the high cost of medicine. Drug companies wildly overpay their execs, and overcharge their dependent customers. Their roughly 20% earnings is far higher than the typical 3 to 7 percent of many other businesses. Time for a change, go for it P. Trump.
“Neutron Jack” came out hard in favor of Trump at the beginning, including a series of charts and graphs. Then, he publicly denounced him and withdrew support during “pussygate”. Now, he’s changed his tune again.
You have to wonder how many of these people Trump is calling realize they are there for “courtesy meetings.”