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kpete

(71,994 posts)
Tue Oct 9, 2012, 02:21 PM Oct 2012

Welch can't take the heat: I quit

Source: Fortune

Welch can't take the heat: I quit
By Stephen Gandel, senior editor October 9, 2012: 12:43 PM ET


FORTUNE -- 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.

"I think it's exactly the opposite of what Jack Welch is saying," Serwer said. "Things are actually improving."

Read more: http://finance.fortune.cnn.com/2012/10/09/jack-welch-quits/

23 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Welch can't take the heat: I quit (Original Post) kpete Oct 2012 OP
Didn't Welch quit GE and leave his predecessor to settle the accounting fraud byeya Oct 2012 #1
Don't want to be a grammar-nazi, but I think you mean successor, not predecessor. JDPriestly Oct 2012 #6
That was such a gentle correction duhneece Oct 2012 #11
That was such a gentle correction AlbertCat Oct 2012 #20
Many thanks. My error. byeya Oct 2012 #13
*W*H*Y* would Welch do that? Are things NOT actually improving for Jack Welch? patrice Oct 2012 #2
The jobs numbers have been improving steadily for months, with only one month really showing a shift truthisfreedom Oct 2012 #3
... And that IS bad for him & other CEOs... Myrina Oct 2012 #18
Typical 'pub bully tactic. DollarBillHines Oct 2012 #4
Please allow me to translate for Mr. Welch using the immortal words of Eric Cartman: savannah43 Oct 2012 #9
"he would get better "traction" elsewhere". coming soon to FOX the jack welch poma show leftyohiolib Oct 2012 #5
My thoughts exactly. meadowlark5 Oct 2012 #14
and what is it with billionaire's voices? NYtoBush-Drop Dead Oct 2012 #7
That's right, "Chicken Jack"--bwack, bwack, bwack...scuttle on outta there, ya LOSER! MADem Oct 2012 #8
The pukes set the goalposts at 8%. They did it themselves if I recall correctly. Ed Suspicious Oct 2012 #10
...saying he would get better "traction" elsewhere. GrantDem Oct 2012 #12
Proof he'd rather the economy fail for us all just to support the 1%. What a devil.... n/t AAO Oct 2012 #15
Whiny little baby leftynyc Oct 2012 #16
Jack and his ? MindMover Oct 2012 #17
Love the Doctor Who reference. tclambert Oct 2012 #23
awww COWARD Jack would love to hear from you underthematrix Oct 2012 #19
Neutron Jack is a big part of the problem with our economy. tclambert Oct 2012 #21
LLLLLOOOSING!!! HughBeaumont Oct 2012 #22
 

byeya

(2,842 posts)
1. Didn't Welch quit GE and leave his predecessor to settle the accounting fraud
Tue Oct 9, 2012, 02:26 PM
Oct 2012

charges the SEC lodged against the firm?

He's a fine one to talk.

JDPriestly

(57,936 posts)
6. Don't want to be a grammar-nazi, but I think you mean successor, not predecessor.
Tue Oct 9, 2012, 03:08 PM
Oct 2012

I noticed because I make that kind of mistake often. Sorry to be so rude.

duhneece

(4,113 posts)
11. That was such a gentle correction
Tue Oct 9, 2012, 03:44 PM
Oct 2012

I've never seen such gentleness in correcting something like that. You made me smile.

 

AlbertCat

(17,505 posts)
20. That was such a gentle correction
Tue Oct 9, 2012, 05:22 PM
Oct 2012

Really.... it's much more fun to be snarky doncha know!

Snark doesn't get on my nerve though, because everybody makes typos and flip flop mistakes. I once typed a whole paragraph using "pre-" when I meant "post-". A strange kind of prefix dyslexia!

truthisfreedom

(23,148 posts)
3. The jobs numbers have been improving steadily for months, with only one month really showing a shift
Tue Oct 9, 2012, 02:29 PM
Oct 2012

in the wrong direction. This conspiracy thing is completely without merit. They're just crybabies.

Myrina

(12,296 posts)
18. ... And that IS bad for him & other CEOs...
Tue Oct 9, 2012, 05:12 PM
Oct 2012

... They want it to be a "buyers" market so they can continue to rake in profits and suppress wages/cut benefits... the more people un-or underemployed & desperate for work - ANY work - the better for the vulture capitalists ...

DollarBillHines

(1,922 posts)
4. Typical 'pub bully tactic.
Tue Oct 9, 2012, 02:43 PM
Oct 2012

Call them on their bullshit, punch them in the mouth....

Whatever...

They go running to Mommy.

savannah43

(575 posts)
9. Please allow me to translate for Mr. Welch using the immortal words of Eric Cartman:
Tue Oct 9, 2012, 03:33 PM
Oct 2012

"Screw you guys, I'm going home."

 

leftyohiolib

(5,917 posts)
5. "he would get better "traction" elsewhere". coming soon to FOX the jack welch poma show
Tue Oct 9, 2012, 02:52 PM
Oct 2012

or world nut daily or the blaze or all of them.

meadowlark5

(2,795 posts)
14. My thoughts exactly.
Tue Oct 9, 2012, 04:00 PM
Oct 2012

When I read that line I thought, he probably got a call from Roger Ailes over the weekend to be their resident jobs expert on Fox. He fits in nicely. Throws out accusations and conspiracies with not a shred of evidence. Perfect addition to the staff.

NYtoBush-Drop Dead

(490 posts)
7. and what is it with billionaire's voices?
Tue Oct 9, 2012, 03:13 PM
Oct 2012

Welch, Bloomberg... With all their money can't they buy a better voice? Instead of a voice that sounds like the pig is getting slaughtered.

MADem

(135,425 posts)
8. That's right, "Chicken Jack"--bwack, bwack, bwack...scuttle on outta there, ya LOSER!
Tue Oct 9, 2012, 03:27 PM
Oct 2012

I must say, I love it when a hubris-laden asswipe of a wingnut gets his ass handed to him. It's so well deserved. He will not be missed, the silly old hate-filled fool.

Ed Suspicious

(8,879 posts)
10. The pukes set the goalposts at 8%. They did it themselves if I recall correctly.
Tue Oct 9, 2012, 03:35 PM
Oct 2012

Now that President Obama just scored in their arbitrary little game, they cry foul?

 

leftynyc

(26,060 posts)
16. Whiny little baby
Tue Oct 9, 2012, 04:15 PM
Oct 2012

What is it with all the pubs? All they do is bitch and whine when people don't bow down and believe their bullshit.

tclambert

(11,087 posts)
23. Love the Doctor Who reference.
Tue Oct 9, 2012, 09:23 PM
Oct 2012

Jack Welch was sort of a Dalek-type of executive. He exterminated a lot of jobs. Employment at GE went from 411,000 in 1980 to 299,000 at the end of 1985 (according to Wikipedia).

tclambert

(11,087 posts)
21. Neutron Jack is a big part of the problem with our economy.
Tue Oct 9, 2012, 08:49 PM
Oct 2012

He made it fashionable to lay off workers en masse and for corporate executives to not feel guilty about doing so. Prior to his example, executives felt it as a kind of failure if their workforce shrank.

The Neutron Jack nickname came from comparing his reign at GE to the enhanced radiation neutron bomb. He got rid of the people, but left the buildings standing.

HughBeaumont

(24,461 posts)
22. LLLLLOOOSING!!!
Tue Oct 9, 2012, 09:01 PM
Oct 2012

Fuck this fascist gremlin. Little bastard's just angry that the economy isn't collapsing (which Jack and his enormous wealth would be shielded from) and Republicans aren't going to be in complete control like they were during Bewsh's first term. Neutron Jack set the tone for CEO economic terrorism in the early 1980s, firing anyone that couldn't be nailed down and offshoring the jobs to enhance major shareholders (and his own) coffers. He later had the unmitigated GALL to say that he "was helping those workers", reasoning that if he didn't, they'd be "complacent". Fucking clownshoe.

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