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Jack Welch : Has the Man no Sense of Irony?

October 8, 2012

When it came to cooking account books, nobody did it with the finesse of Jack Welch. The purpose of GE’s insurance subsidiaries, during Welch’s tenure, was to help GE beat Wall Street’s quarterly earnings expectations by a penny (there is simply no business like insurance for hiding losses).  Hence, it is amazing that the man was bold enough to accuse the US government of cooking employment numbers.  Now we don’t know enough to comment whether the US government is cooking data.  But such an allegation from Welch is just too delicious.  The man just does not have a sense of irony.  He showed this lack of sense of irony when he berated his successor Immelt in 2008 for missing a quarterly earnings forecast.

Please read  Jack Welch and the Moral Balance Sheet in case you have not done so.  Link given below:

https://crediteye.wordpress.com/2010/12/01/jack-welch-managements-moral-balance-sheet-credit-analysis/

 

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