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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWelch can't take the heat, Quits Fortune Mag
Jack Welch has left our building, metaphorically that is.
Welch said he will no longer contribute to Fortune following critical coverage of the former CEO of General Electric, saying he would get better "traction" elsewhere. On Friday, Welch suggested that the Obama administration, calling them "these Chicago guys," had manipulated the monthly jobs report in order to make the economy look better than it actually is just weeks before the election. Welch has been battered by criticism since making the suggestion on Twitter.
Monday morning on MSNBC's Morning Joe, Fortune managing editor Andy Serwer said there were a number of things wrong with Welch's tweet, the biggest of which was that the economy doesn't back up the former executive's claim that the numbers were faked. <...>
Following the story, Welch sent an e-mail to Reuters' Steve Adler and Serwer saying that he and his wife Suzy, who have jointly written for Reuters and Fortune in the past, were "terminating our contract" and will no longer be sending our "material to Fortune." Reuters' story about Welch's tweet quoted money manager and blogger Barry Ritholtz, who said Welch's comments were laughable. Reuters wrote that Ritholtz comments were referring to allegations that Welch regularly manipulated GE's earnings during his tenure as CEO in order to best Wall Street profit estimates. <...> CNN Money
ah, to be rich and egomaniacal enough to be able to quit jobs when a boss doesn't carry water for your nutbaggery....
flamingdem
(39,313 posts)Atman
(31,464 posts)Good riddance, you fucking tool.
Canuckistanian
(42,290 posts)They seem to have the monopoly on Obama CT's
He'll fit right in.
Bake
(21,977 posts)They call it "managing" earnings. It's an art form there--when to recognize revenue and expenses, where and how to account for things. It's done by virtually EVERY big corporation now.
Bake
oswaldactedalone
(3,491 posts)I had no idea who Jack Welch was prior to Friday morning's ridiculous tweet. How does a smarmy piece of crap like him become a CEO of a lemonade stand much less GE?
rurallib
(62,416 posts)probably looked down on by the right these days.
Baitball Blogger
(46,715 posts)The $ probably didn't mean anything to him.
Historic NY
(37,449 posts)GulleyJimson
(107 posts)is a constant fixture on CNBC.... the fauxnancial station. Joe Kernen rivals Glenn Beck in idiocy with Michele Caruso-Cabrera not far behind. I'm doing penance watching this show. Please, forgive me.
jsmirman
(4,507 posts)I couldn't possibly take that man seriously about, well, anything.
Where's the crazy hair, Joe?
Segami
(14,923 posts)GulleyJimson
(107 posts)back on CNBC today so says Joe Kernen.