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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (1568)	7/5/2000 1:25:10 AM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 4155

Business Week June 1997: Cover Story on GE: JACK WELCH'S ENCORE businessweek.com JACK WELCH'S ENCORE businessweek.com But to fuel revenue growth, Welch is increasingly looking towards services. Of course, it's hardly a new arena for GE. Almost from the day Welch took the helm, he has preached the need to shift from manufacturing. ''All I talked about was the drive to get into services,'' he recalls. Nearly 60% of GE's profits now comes from services--up from 16.4% in 1980. ''I wish it were 80%,'' he says. Much of that shift is the result of the stunning growth of GE Capital Services. The financial-services unit has grown sevenfold since 1985, from revenues of $3.8 billion to $26.5 billion today, while operating profits leapt from less than $500 million to nearly $3.5 billion. Today, GE Capital provides nearly a third of total operating profits of $11 billion. Welch's Would-Be Heirs businessweek.com ESTABLISHED LEADERS DENNIS DAMMERMAN Age: 50 CFO and a Welch troubleshooter JAMES MCNERNEY Age: 47 Oversees Lighting ROBERT NARDELLI Age: 48 Heads Power Generation GARY ROGERS Age: 51 Plastics chief, turned around Appliances GARY WENDT Age: 54 Built GE Capital into powerhouse ROBERT WRIGHT Age: 53 Ex-Capital exec turned around NBC UP-AND-COMERS DAVID CALHOUN Age: 39 Runs Transportation DAVID COTE Age: 44 Runs Appliances MICHAEL FRAZIER Age: 38 Fast-tracker on the move at GE Capital JEFFREY IMMELT Age: 40 Marketing whiz MICHAEL NEAL Age: 43 Rising Capital star GARY REINER Age: 42 Heading Welch's companywide quality push