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dark
informative
fast-paced
As you’re off to dance* on the graves of Reagan and Kissinger, be sure to include Jack Welch.
The information wasn’t new, but the book does an excellent job of laying out the long-term damage from the smoke-and-mirrors that marked Welch’s leadership.
*or doing other things to their grave. Your call.
The information wasn’t new, but the book does an excellent job of laying out the long-term damage from the smoke-and-mirrors that marked Welch’s leadership.
*or doing other things to their grave. Your call.
informative
medium-paced
informative
inspiring
medium-paced
informative
sad
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I buy the central premise of the book, that Jack Welch and his cult following fundamentally changed capitalism in America to value shareholders and devalue employees and communities. The book does a good job of summarizing the history of GE and putting it into a wider context. However, I found the lack of financial depth a real detractor from the argument. The details of the financial shenanigans that Welch and his followers pulled that allowed them to boost share price but hurt longterm prospects was yadda-yadda-ed over. So often CEO actions were shortened to "layoffs" when in reality, GE and the other companies former GE people led also had periods of rapid hiring. Growing by acquisition only worked for GE because there was a perception that GE had internal synergies like the GE Store and excellent leadership training. Those perceptions would have been worth examining.
The oversimplification of Jack Welch's legacy almost turns him into an evil caricature. I believe much of the writing was a reaction to the endless Welch fluff pieces, overly negative as a counter-balance. However, it leaves too many statements that don't pass the sniff test. I think the "how to undo his legacy" part of the book also added nothing - it was short, empty on specifics, and ultimately a regurgitation of ideas that appear in plenty of places.
The oversimplification of Jack Welch's legacy almost turns him into an evil caricature. I believe much of the writing was a reaction to the endless Welch fluff pieces, overly negative as a counter-balance. However, it leaves too many statements that don't pass the sniff test. I think the "how to undo his legacy" part of the book also added nothing - it was short, empty on specifics, and ultimately a regurgitation of ideas that appear in plenty of places.
An interesting and insightful look at former GE CEO Jack Welch, and the far-reaching, destructive impact his management philosophy had on the business world (despite the facade of success)
This was really enlightening, provided some better historic framework and specifics for how American capitalism transitioned from a model in which all stakeholders in a company mattered to shareholder value (and therefore quarterly earnings) being the end all, be all at the expense of the average worker (who was often viewed as the enemy) and in some cases general safety (Boeing 737-MAX). The book, I think accurately, paints Jack Welch as a largely negative force in corporate America which we are still struggling to purge ideologically. The author also highlights examples of companies working against his “profits at any cost” methods and are focusing on their overall role in society and long term growth, which goes to show that an economic system that doesn’t pay a living wage and take care of the least of these is a choice, not just a rule of life.
informative
sad
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An interesting account of Welch and his impact on the world around him, but Gelles gives him too much credit. Friedman laid the foundation; if Welch hadn’t built on it, someone else surely would have. And the picture painted of pre-welchian capitalism is certainly overly rosy. Still worth the read.
informative
sad
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dark
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reflective
sad
medium-paced
Credits Jack Welch too much for doing the concept of shareholder value and the regulatory and political environment that enables this.