How the legendary boss of General Electric left a behind a house of cards
Jack Welch, who died last Sunday, was ruthless, quotable and energetic, but the GE Capital finance unit he created became the Achilles’ heel of the giant industrial conglomerate
Two years before he called time on his active business career in 2001, Fortune magazine put Jack Welch on its cover and anointed him ‘Manager of the Century’. In a glowing profile, the then boss of General Electric, which at the time was the world’s mightiest industrial corporation, was hailed as the greatest corporate leader of the age, and as America’s celebrity chief executive.
When Welch died on March 1...
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