Tuesday, February 22, 2005 1:45:42 PM
Jack Welch - the ex CEO of the largest conglomerates in the World?
Take a minute and read this - Kelly Jones is no Jack Welch
http://www.businessweek.com/1998/23/b3581001.htm
An excerpt - he started at GE in 1961:
John Francis Welch Jr. had worked for General Electric not much more than a year when in 1961 he abruptly quit his $10,500 job as a junior engineer in Pittsfield, Mass. He felt stifled by the company's bureaucracy, underappreciated by his boss, and offended by the civil service-style $1,000 raise he was given. Welch wanted out, and to get out he had accepted a job offer from International Minerals & Chemicals in Skokie, Ill.
But Reuben Gutoff, then a young executive a layer up from Welch, had other ideas. He had been mightily impressed by the young upstart and was shocked to hear of his impending departure and farewell party just two days away. Desperate to keep him, Gutoff coaxed Welch and his wife, Carolyn, out to dinner that night. For four straight hours at the Yellow Aster in Pittsfield, he made his pitch: Gutoff swore he would prevent Welch from being entangled in GE red tape and vowed to create for him a small-company environment with big-company resources. These were themes that would later dominate Welch's own thinking as CEO.
''Trust me,'' Gutoff remembers pleading. ''As long as I am here, you are going to get a shot to operate with the best of the big company and the worst part of it pushed aside.
These are my personal comments, observations, opinions and should not be relied upon for any investment decisions, and as always read the SEC filings for the facts of the company
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