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Non-Tech : General Electric (GE)

GE 298.30

-0.8%

11:41 AM EST

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To: Wally Mastroly who wrote (1412)	9/1/2000 6:38:03 PM
From: Arthur Tang	Read Replies (1) of 3256

It took many years for GE to change from manufacturer to a financial service concern. Some business (Kidde Peabody) they did not understand almost caused a loss of confidence on Wall street. Welch probably should stay on for some time to come until GE capital guy can understand and control the young turks in investment banking operation. New employees tend to think one individual worthy of his salt will pick ventures that can make much money for GE. And thus he alone should be rewarded. Mr. Welch's reply was "over my dead body". Team efforts and matrix management will continue if Welch stays on for a while. What most of us all realize is that, by virtual that the venture is supported by GE and its many resources, the venture has a better chance to succeed. No individual from a smaller outfit can accomplish much. GE will do many venture capital selections; but the parent is too big to be wag by its tail of any small ventures. GE has already picked a successor from GE capital; but they should have an orderly transition, maybe the same as Gordon Moore and Andy Grove at Intel.

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