Chris who'd sell his mamma for the bargain price of 2.44M
---------- Original Message ---------------------------------- From: "Carl Remick" <carlremick at hotmail.com> Reply-To: lbo-talk at lists.panix.com Date: Fri, 21 Jul 2000 19:55:05 GMT
>Certainly no greater cult of personality exists than the one that has grown
>up around GE CEO Jack Welch, who has received an advance of $7.1 million
>from Time Warner for a book about his career and philosophy.
>
>In an editorial entitled "The Welsh Mystique," the NY Times yesterday summed
>up Welch's career this way: "He took a company with a market value of $12
>billion and [in 20 years] turned it into a company worth $500 billion.
>Along the way he sold off underperforming divisions and fired about 100,000
>people, thus earning himself the name 'Neutron Jack.'"
>
>The NYT clearly thinks the tradeoff was worth it, since Welch's gung-ho
>management style "freed [GE] of fuzzy paternalism."
>
>Waddya think LBOers -- is $488B in added market cap worth 100K pink slips
>and freedom from fuzziness?
>
>Carl
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