When Jack Welch retired, there where three heir-apparents: Jeff Immelt, Jim McNerney and Robert Nardelli.
McNerney went to 3M and damn near ruined one of Americas greatest innovation companies. He seems to have redeemed himself somewhat at Boeing.
Nardelli took the reins at Home Depot and promptly got rid of the knowledgable full-time expert employees that had built that company to it’s #1 market position, replacing them with part-timers who were taught the flawed six sigma dogma. After finally being fired from HD, Nardelli was hired to run Chrysler in 2007 - what more needs to be said?
Immelt got the biggest plum of all - the opportunity to not only oversee the loss of billions of dollars of shareholder value and thousands of US jobs from GE, but now the chance to help Obama implement the same kind of elite centralized anti-American autocracy in Washington DC.
Enjoy your retirement and alimony payments, Neutron Jack.
“GE has become addicted to generating revenue from the president’s big-government agenda.”
Immelt believes that the era of capitalism is over.
Geez we need a story like this to realise that the same man who sent GE jobs overseas now is supposedly creating jobs here?
Obama is out to destroy America , and this is just another flanking attack.
GE is also into water filtration big time. I’m sure they have a plan to turn water into liquid Gold.