• chaogomu@kbin.social
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      1 year ago

      The bad management was Jack Welch, and his bullshit was only possible due to Reagan loosening regulations on businesses.

      “legendary CEO” my ass. Dude was a fucking disaster.

      • Neuromancer
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        1 year ago

        You have a cite for that as that does again every expert in the field.

        So I like to see where you’re getting this data. Since jack was brought In to save the company. It’s really strange to blame him for saving the company.

        • chaogomu@kbin.social
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          1 year ago

          https://www.npr.org/2022/06/01/1101505691/short-term-profits-and-long-term-consequences-did-jack-welch-break-capitalism

          Strange? Accurate.

          He took a healthy company that turned a consistent profit in to a house of cards built on lies. It blew up the stock price for a decade or two before the cracks began to show.

          Jack Welch was 100% about short term profit at the expense of long term stability.

          His stack ranking fucked over thousands at GE alone, and countless more at all the companies who followed suit. It was and still is a brain-dead policy.

          The list goes on, but it all boils down to taking an innovative company and turning it into an unregulated bank, an unregulated bank that was at the heart of the 2008 subprime mortgage crisis.

          • Neuromancer
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            1 year ago

            Did you ignore the previous article which shows the issues predate jack and jack is the one who saved the company?

            I’m no fan of jack for many reasons but had he not been the ceo, there would have been no Ge today