General Electric

After cutting a fifth of it's US jobs,and boosting hiring overseas where work is cheaper,they recieved a 4.1 Billion Dollar refund from the IRS.
Item added by Djahuti. Added on 04/18/2011
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3 Reviews

miaminaples
12/27/2018

General Electric 4

Incredible how GE went from being one of the country's most pre-eminent blue chip corporations, to de-listed on the Dow, trading at $7 a share and spiraling towards bankruptcy much like Enron did. Part of it is that economy is changing rapidly, but mismanagement also played a big role in their downfall. CEO's Welch, Immelt, Bolze, and Flannery all made critical errors, the root of which stemmed from the mentality of "making the quarter", which destroys companies in the long term. This, along with the mania for blockbuster, "transformational" M&A transactions. So many senior executives are too lazy or greedy to spend money to build up new businesses. Instead, they overpay to buy "growth." And this isn't just GE, but many corporations.

If GE is the exemplar of managerial competence, then the US is in deep trouble. Good companies are more than just making their large shareholders and management rich. They understand their mission and stick to their processes. GE was doomed when it fell into the hands of financial engineers, MBA toadys, business media cheerleaders, and "value" investors. They are getting their due, and so will many others...

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numbah16tdhaha
04/21/2011

General Electric 5

Isn't their CEO Obama's Job Czar or some shit?

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Djahuti
04/21/2011

General Electric 4

With unemployment a major problem in todays USA,these sleazebags cut jobs here & increased hiring overseas,where they can get away with low pay.They were rewarded for this insult to American workers with a nice fat 4.1 Billion dollar tax refund.

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