Jack Welsh, CEO, GE discussed on Freakonomics



So culture counts now there there are some people who would say that the astronomical growth at ge under jack welsh was due in part to coinciding with a huge boom in financial services and obviously you acquired a lot financial services became a huge part of general forty percent sam so huge part during that period we should also note that that was the category that's been most aggressively cut in the last several years i'm just curious from telling me the kidder story did you regret that you had to take on so much of financial services to drive profit be you didn't know i thought we have tons of leverage there we had a great balance sheet we had a talent in financial services we had our own homegrown financial management program where we could put people we build great businesses and i would still be entered by was running but oh really that's interesting so you wouldn't have the best doing with the assets they bought yeah well it helps when you're making up a fake million accounts here and there right well that that's not that's not the business they bought yeah so you're saying that you would not have divestiture financial services stuff if i'm not saying that i i'm saying that i might not have gotten in trouble they got in by by exploding in real estate but that that's second guessing i you can't second guess seo that happened eight years after i left that's the normal tenure for two ceo's.

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