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Strategies & Market Trends : ahhaha's ahs
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To: ahhaha who wrote (5607)11/15/2002 4:32:16 PM
From: ahhahaRead Replies (1) of 24758
 
Ned Riley comes on CNBC and says that GE looks very attractive. Little does he know how much trouble Welch put into that company.

You think Bernie is bad. Bernie gets up in front of Congress and states he's innocent. Anyone who knows how to read voices could easily see he was telling the truth. The problem is that if he was guilty, it wouldn't be so bad, but his testimony must imply he's incompetent. He didn't do his job at WCOM. You can be a crook, but in the CEO position the one thing you can't be is incompetent.

The media spent years heralding the "genius" of Ebbers. I'm on record in the ATHM thread in 1999 saying he was a fraud and a clutz. He was made by a doting media looking to put someone on a pedestal who they could worship for all their mythical wealth. When they're going up even the SEC and war on wealth are put on hold.

Same with Welch. The only thing this guy did was entrench a marginally working formula when GE needed to transform itself into a company building devices for the 21st century. Welch failed to take the necessary risks to accomplish this end but preferred the risk averse strategy of maintaining his darling image which was created and supported by the media. Anyone who knows how to read voices could easily see he felt guilty when he appeared as a guest on various shows for what he knew was his failure at management.

He and Ebbers typify the era of little men, but they were only creatures of a nation still trying to rid itself of the glories of socialism, and so should only be punished with the bad press that is their wage.
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