Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: CodeToad

#21 You explained what is happening to the last company I worked at. New management came in and rearranged the deck chairs. Either they will go or the company will be bought out.


74 posted on 03/16/2024 10:11:33 PM PDT by minnesota_bound (Need more money to buy everything now)
[ Post Reply | Private Reply | To 21 | View Replies ]


To: minnesota_bound
Jack Welch was said to have fired 250,000 people during his time at GE. That is an entire city of people. There are others like him such as "Chainsaw" Al and Mitt Romney. Top 10 Worst Bosses - "Chainsaw" Al https://content.time.com/time/specials/packages/article/0,28804,2025898_2025900_2026107,00.html Jack Welch https://www.nytimes.com/2022/05/21/business/jack-welch-ge-ceo-behavior.html Almost immediately after Mr. Welch retired in September 2001 with a $417 million severance package, G.E. went into a tailspin from which it would never recover. His pupils, though, went on to run dozens of other major companies, including Home Depot, Albertson’s, Chrysler and Boeing. Most of them failed. G.E. was an industrial company when he took over — making most of its money selling appliances, light bulbs, power turbines and jet engines. By the time he retired, the company derived much of its profit from GE Capital, which was essentially a giant unregulated bank. READ THIS PART: More than any company besides G.E., it was Boeing that was most directly shaped by Mr. Welch. Over the past 25 years, a succession of men who worked for Mr. Welch refashioned the airplane maker’s culture to resemble G.E.’s, transforming a company that once made a priority of aeronautical engineering into one that thrived on financial engineering. “When people say I changed the culture of Boeing, that was the intent, so it’s run like a business rather than a great engineering firm,” Mr. Stonecipher said in 2004. “It is a great engineering firm, but people invest in a company because they want to make money.”
76 posted on 03/16/2024 10:47:30 PM PDT by minnesota_bound (Need more money to buy everything now)
[ Post Reply | Private Reply | To 74 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson