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☆ General Electric, once America’s iconic everything company, has completed its dismantling. Here’s what that means
▼ + stars: | 2024-04-02 | by ( Chris Isidore | Matt Egan | ) edition.cnn.com time to read: +4 min

The company was founded by Thomas Edison in 1892 and built into the world’s largest and most valuable company by the once legendary, but now oft-criticized CEO Jack Welch. General Electric home appliances are displayed for sale at an appliance store in San Jose, California, in 2019. But the despite the name, the company had already sold off its appliance business three years earlier. Its shares nearly doubled, rising 95%, in 2023, and were up another 37% this yearGE Aerospace will retain the longtime GE stock symbol, and Culp as its CEO. Some have suggested he could be the successor for Dave Calhoun, the retiring CEO of another troubled iconic US company, Boeing.

Persons: Thomas Edison, Jack Welch, Larry Culp, David Paul Morris, divestitures, Culp, Jason Redmond, Dave Calhoun Organizations: New, New York CNN, GE, Dow Jones, Walgreens Boots Alliance, General Electric, Bloomberg, Getty, NBC, Comcast, GE Capital, AAA, GE Healthcare, GE Aerospace, GE Vernova, Boeing, CNBC Locations: New York, San Jose , California, China, Everett , Washington, AFP

☆ Who can fix Boeing? Here are some potential CEO candidates
▼ + stars: | 2024-03-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

New York CNN —Since its founding by William Boeing more than a century ago, the Boeing Company has had 12 CEOs. What Boeing wants in its new CEOWhen picking a new CEO, the company likely has two pools of choices. Or it can once again pick a leader like outgoing CEO Calhoun, who has a financial background and an undergraduate degree in accounting. Spirit was the only one to comment, but it did not address the possibility of Shanahan becoming Boeing CEO. Culp has an undergraduate degree in economics and an MBA from Harvard, a business background more than an engineering background.

Persons: William Boeing, Dave Calhoun, Calhoun, “, ”, Sir Tim Clark, ” Calhoun, “ It’s, Richard Aboulafia, Pat Shanahan Pat Shanahan, Donald Trump, Shanahan, “ Mr, Joe Buccino, Larry Culp Larry Culp, Jack Welch, Culp, Aboulafia, Kathy Warden Kathy Warden, Northrop Grumman, Northrop, Warden, ” Aboulafia, Mary Barra, Greg Smith Greg Smith, Smith, Alan Mulally Aboulafia, Alan Mulally, Ford, Mulally, It’s, Ron Epstein, ’, Stephanie Pope, Brian West, Pope, West, Elizabeth Lund Organizations: New, New York CNN, Boeing Company, Boeing, Alaska Airlines, Emirates Airlines, CNBC, US Department of Defense, CNN, General Electric, GE Aerospace, GE, Danaher Corp, Harvard, Northrop, General Motors, Barra, American Airlines, Ford, Detroit, GM, DaimlerChrysler, Chrysler, of America, Airplanes, GE Aviation, Services, Boeing Commercial Airplanes Locations: New York, American, Calhoun

☆ Boeing Disaster Proves Americans Businesses Greedy Mentality Is Broken
▼ + stars: | 2024-02-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

They expose decades of American corporate philosophy gone awry. A good American company isn’t just a vehicle for financial returns; it is first and foremost an employer, a contributor to economic and/or technological innovation, and a source of US power. But it’s clear that what Boeing — and the entire American corporate body politic — needs is nothing short of a philosophical counterrevolution. Over these three decades of plenty for Boeing’s shareholders, the company’s staff was asked to penny-pinch. Boeing’s stock cratered, and France’s Airbus , a rival once colloquially known as “Scare Bus,” started to eat the American company’s lunch .

Persons: it’s, could’ve, William Lazonick, “, It’s, won’t, William McGee, T.A, Wilson, Frank Shrontz, Max, Peter Robison, —, ”, Dave Calhoun, we’ve, Scott Kirby, hasn’t, “ We’re, Lazonick, wasn’t, Milton Friedman, Michael Jensen, Jensen, nary, Jack Welch, Welch, Wall, ” Lazonick, We’ve, Mary Barra, ” McGee Organizations: Alaska Airlines, Boeing, Investments, University of Massachusetts, ”, NASA, Airbus, Alaska Airlines Max, Wall, United Airlines, Federal Aviation Administration, CNBC, Washington, University of Chicago, Electric, Wall Street, GE, Dow Jones, Securities and Exchange Commission, Reality Labs, Deutsche Bank, Business, General Motors, United Auto Workers, Companies, GM, & $ Locations: Washington, America

☆ Should a company rate its staff? A former Amazon exec says 'stack ranking' is useful when done right
▼ + stars: | 2023-12-05 | by ( Lucy Handley | ) www.cnbc.com time to read: +6 min

What is 'stack ranking?' "Stack ranking" is an employee rating system popularized by executive Jack Welch in the 1980s during his time as CEO of GE. Does stack ranking work? And in many cases, having a stack ranking system is actually helpful, because there's an objective, collaborative process to evaluating employees," he said. Why is stack ranking controversial?

Persons: —, Alykhan Sunderji, Sunder, Jack Welch, Sunderji, Banks, Goldman Sachs, McDonald's, Chris Kempczinski Organizations: Amazon, CNBC, GE, Amazon Pay, Google, Microsoft, Origin, New York Times

☆ BlackRock's ESG backlash looms over Larry Fink's legacy and succession
▼ + stars: | 2023-07-18 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

"BlackRock has posted industry-leading organic growth over the last year while most of our competitors are experiencing persistent outflows," a company spokesperson told Insider. I criticize the way they defended it," Seifert told Insider. "Given no mortal can fill Larry's shoes, there is a high risk they pick some Jeff Immelt equivalent," Keeley told Insider. Fink chose to make his letters public, which leads to concerns that Fink wrote them as a PR exercise. However, the most effective engagement is typically private," Edmans told Insider.

Persons: Larry Fink, It's, Fink, hasn't, Larry, BlackRock, BlackRock's, Terrence Keeley, —, it's, Ron DeSantis, GIORGIO VIERA, Erik McGregor, Keeley, They're, Cathy Seifert, Seifert, Rob Kapito, Mark Wiedman, Martin Small, Rachel Lord, Susan Wagner, Jack Welch, Jeff Immelt, Welch, Electric's, Immelt, Tim Buckley, Abby Johnson, Ron O'Hanley, Jamie Dimon, Alex Edmans, Edmans, Michael M, he's, I've, Rob Organizations: BlackRock, Republicans, GOP, Bloomberg, CNBC, Florida Gov, Getty, UBS, Environmental, CFRA Research, Company, JPMorgan, Citi, GE, Vanguard, Fidelity, London Business School Locations: BlackRock, Texas, Florida, Fink

☆ Who wants to be a CEO right now?
▼ + stars: | 2023-06-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Let's be real: Being a CEO sucks right now. But 2023 has brought a level of scrutiny that makes being a CEO today a nightmare for even the toughest leader. CNN's former chief Chris Licht stepped down on Wednesday after less than a year, following intense criticism from inside and outside his newsroom. Meme stock company GameStop fired its CEO Matthew Furlong on the same day as Licht, also after a short tenure. At the low point of a boom-and-bust cycle where high interest rates and high expectations reign supreme, being a CEO sucks.

Persons: Let's, CNN's Chris Licht, —, Jack Welch, CNN's, Chris Licht, Licht, Matthew Furlong, Jeff Shell, Jack Bowles, Patience, Matt Turner, Raul Vargas Organizations: Corporate, Service, General Electric, Observers, GameStop, Google, Farmers Group Locations: freefall, British

☆ Gen Z isn't afraid of unemployment — and they don't trust their employers, Suzy Welch says. Her late husband Jack Welch slashed 112,000 jobs at GE.
▼ + stars: | 2023-05-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

NYU Stern professor Suzy Welch told CNBC that "funemployment" shows a shift in how Gen Z views work. Welch said in an interview with CNBC that Gen Z — those born from mid-1990s to early 2010s — isn't afraid of unemployment like previous generations. Welch told CNBC that while Gen Z isn't promoting joblessness by choice, their perspective on the issue has shifted "far away" from that of previous generations. They think: 'We're going to be together for as long as we're together, then I'm going to be funemployed, and then I'm going to move on to my next engagement.'" However, Gen Z has indicated they're more concerned about work-life balance and less willing to put up with a toxic work culture.

☆ Gen Z isn't afraid of unemployment — and they don't trust their employers, Suzy Welch says. Her late husband, Jack Welch, slashed 112,000 jobs at General Electric.
▼ + stars: | 2023-05-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

The NYU Stern professor Suzy Welch told CNBC that "funemployment" showed a shift in how Gen Z work. Suzy Welch told CNBC that Gen Z, those born from the mid-1990s to early 2010s, wasn't afraid of unemployment like previous generations. Welch told CNBC that while Gen Z wasn't promoting joblessness by choice, their perspective on the issue had shifted "far away" from previous generations. They think: 'We're going to be together for as long as we're together, then I'm going to be funemployed, and then I'm going to move on to my next engagement.'" However, Gen Z has indicated they're more concerned about work-life balance and less willing to put up with toxic work culture.

☆ The mourning dress codes of ‘Succession’
▼ + stars: | 2023-05-22 | by ( Jacquelyn Palumbo | Jacqui Palumbo | ) edition.cnn.com time to read: +7 min

“Succession” has treated us to both a wedding and a funeral as fate of the Roy siblings spin out towards its finale (which is produced by Warner Bros. Discovery, parent company of CNN), and its penultimate episode gave us mourning dress codes in a grand Catholic setting. “I can do anything — my dad just died,” Shiv responds when asked for a favor at the mass. By episode nine, with the company in a shaky post-Logan transition, the optics of how the Roy siblings perform at the funeral hold a lot of weight. Emotions must be stamped down, they maintain a fragile façade, and getting too close to the truth of Logan Roy is met with a wall of cognitive dissonance.

☆ I'm a retired baby boomer who thinks Gen Z and millennial workers are smart to push back on return-to-office mandates
▼ + stars: | 2023-05-01 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Many Gen Z and millennial workers are rejecting old corporate rules and return-to-office mandates. But one who shared his thoughts on Gen Zers with Insider says he's cheering on younger generations. There might also be a sense that since we boomers paid our dues, we see Gen Z and millennial workers — particularly the ones forming unions and pushing back against corporate rules — as entitled. Now that I'm sitting on the sidelines of the workforce, I'm cheering on these younger generations with all my might. And I sympathize with my Gen Z and millennial counterparts who have decades of work ahead of them.

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ Tech Companies Are Ruining Their Apps, Websites, Internet
▼ + stars: | 2023-03-27 | by ( Ed Zitron | ) www.businessinsider.com time to read: +13 min

Google, Amazon, Meta, and other tech companies have monetized confusion, constantly testing how much they can interfere with and manipulate users. Abandoning the core productIn the 2000s and early 2010s, tech companies actually produced new, interesting products. This fueled Silicon Valley's explosive growth: Companies saw their valuations soar, revenue growth was exponential, and new users were joining by the boatload. There are ways to integrate new technology into a core product that doesn't end in disaster. Netflix was able to iterate on their core product — letting people watch movies — in a way that actually made that experience better.

☆ Warren Buffett blasted earnings manipulation as 'disgusting' in his annual letter. Here's what he meant, and how GE legend Jack Welch ties into it.
▼ + stars: | 2023-02-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett blasted earnings manipulation as "disgusting" and "one of the shames of capitalism." Former GE CEO Jack Welch specialized in using legal but creative accounting to beat forecasts. Look no further than Jack Welch, the late CEO of General Electric, for insights into the legal but controversial practice. He made it his mission to beat Wall Street's forecasts, and deliver slow, steady growth that would secure a higher valuation for GE stock. Welch's obsession with GE hitting its numbers each quarter spurred him to ruthlessly cut costs and fire workers as needed.

☆ Managers at my company have to give at least one bad review on their teams. How can I make sure I don't get targeted?
▼ + stars: | 2023-02-01 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Stack ranking is when managers score employees' performances relative to that of their coworkers. It's not easy to fight it if your company uses stack rankings, but you can take a few actions. Forced, or stack, ranking — a system in which managers score their employees' individual performances relative to that of their coworkers — needs to die but, alas, refuses to do so. Stack ranking is still used today, including at companies like Amazon, though it's largely been found to be a terrible management practice. Why, then, do some companies persist in stack ranking?

☆ This is the No. 1 career mistake young people make 'all the time,' says Uber's CEO—how to avoid it
▼ + stars: | 2023-01-19 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

While some people might argue that the secret to success lies in creating a detailed, linear path to your ultimate career goal, Uber CEO Dara Khosrowshahi says over-planning isn't just ineffective — it can torpedo your chances of building a fulfilling career. "Don't over-plan your career … I see young people make this mistake all the time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a new interview published Thursday. "I've never been in a hurry in my career, because if you're open, and you really want to hone your craft, it's so much more satisfying [to take your time]." "People talk about financial compounding — there's a career compounding that's magical. Here's how to pick them and stick to themSign up now: Get smarter about your money and career with our weekly newsletter

☆ Sister Patricia Daly Stood Up to CEOs at Shareholder Meetings
▼ + stars: | 2022-12-30 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

At shareholder meetings, she was the stinging nun. For more than four decades, Sister Patricia Daly pursued her chosen vocation: shareholder activist and scourge of corporate CEOs. A member of the Roman Catholic Sisters of St. Dominic congregation of Caldwell, N.J., she worked with religious shareholder groups to prod companies to take action on issues including environmental protection and human trafficking. She matched wits with General Electric Co. then-Chief Executive Jack Welch at a shareholder meeting in 1998, when she urged GE to issue warnings about the risks of eating fish contaminated with polychlorinated biphenyls, or PCBs, from its plants.

☆ A 290-Acre Estate in New York’s Hudson Valley Sells for a Record $18.5 Million
▼ + stars: | 2022-09-12 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Suzy Welch, wife of the late former General Electric Co. Chairman and CEO Jack Welch, has sold her roughly 290-acre estate in New York’s Hudson Valley for $18.5 million, property records show.

☆ Inside BlackRock's powerful consulting arm that's made the most influential money manager an advisor to world powers
▼ + stars: | 2021-06-07 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +21 min

One of the reporters noted that Powell's public calendar showed calls with Larry Fink, BlackRock's chief executive, in March, April, and May. The exchange was hardly the first time no-bid contracts between the Fed and BlackRock's Financial Markets Advisory unit raised questions. Still, former employees told Insider that FMA has served as a clear source of public-facing clout for BlackRock. "The FMA clients have extended their advisory relationships to be multiyear." A little over a year ago, FMA pulled employees out of BlackRock's office there, three former employees said.

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