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Tue Oct 9, 2012, 02:21 PM

Welch can't take the heat: I quit

Source: Fortune

Welch can't take the heat: I quit
By Stephen Gandel, senior editor October 9, 2012: 12:43 PM ET


FORTUNE -- Jack Welch has left our building, metaphorically that is.

Welch said he will no longer contribute to Fortune following critical coverage of the former CEO of General Electric, saying he would get better "traction" elsewhere. On Friday, Welch suggested that the Obama administration, calling them "these Chicago guys," had manipulated the monthly jobs report in order to make the economy look better than it actually is just weeks before the election. Welch has been battered by criticism since making the suggestion on Twitter.

Monday morning on MSNBC's Morning Joe, Fortune managing editor Andy Serwer said there were a number of things wrong with Welch's tweet, the biggest of which was that the economy doesn't back up the former executive's claim that the numbers were faked.

"I think it's exactly the opposite of what Jack Welch is saying," Serwer said. "Things are actually improving."

Read more: http://finance.fortune.cnn.com/2012/10/09/jack-welch-quits/

23 replies, 6289 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 23 replies Author Time Post
Reply Welch can't take the heat: I quit (Original post)
kpete Oct 2012 OP
byeya Oct 2012 #1
JDPriestly Oct 2012 #6
duhneece Oct 2012 #11
AlbertCat Oct 2012 #20
byeya Oct 2012 #13
patrice Oct 2012 #2
truthisfreedom Oct 2012 #3
Myrina Oct 2012 #18
DollarBillHines Oct 2012 #4
savannah43 Oct 2012 #9
leftyohiolib Oct 2012 #5
meadowlark5 Oct 2012 #14
NYtoBush-Drop Dead Oct 2012 #7
MADem Oct 2012 #8
Ed Suspicious Oct 2012 #10
GrantDem Oct 2012 #12
AAO Oct 2012 #15
leftynyc Oct 2012 #16
MindMover Oct 2012 #17
tclambert Oct 2012 #23
underthematrix Oct 2012 #19
tclambert Oct 2012 #21
HughBeaumont Oct 2012 #22

Response to kpete (Original post)

Tue Oct 9, 2012, 02:26 PM

1. Didn't Welch quit GE and leave his predecessor to settle the accounting fraud

 

charges the SEC lodged against the firm?

He's a fine one to talk.

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Response to byeya (Reply #1)

Tue Oct 9, 2012, 03:08 PM

6. Don't want to be a grammar-nazi, but I think you mean successor, not predecessor.

I noticed because I make that kind of mistake often. Sorry to be so rude.

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Response to JDPriestly (Reply #6)

Tue Oct 9, 2012, 03:44 PM

11. That was such a gentle correction

I've never seen such gentleness in correcting something like that. You made me smile.

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Response to duhneece (Reply #11)

Tue Oct 9, 2012, 05:22 PM

20. That was such a gentle correction

Really.... it's much more fun to be snarky doncha know!

Snark doesn't get on my nerve though, because everybody makes typos and flip flop mistakes. I once typed a whole paragraph using "pre-" when I meant "post-". A strange kind of prefix dyslexia!

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Response to JDPriestly (Reply #6)

Tue Oct 9, 2012, 03:50 PM

13. Many thanks. My error.

 

I'll never be a proofreader, that's for sure.

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Response to kpete (Original post)

Tue Oct 9, 2012, 02:28 PM

2. *W*H*Y* would Welch do that? Are things NOT actually improving for Jack Welch?

Why might that be?

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Response to kpete (Original post)

Tue Oct 9, 2012, 02:29 PM

3. The jobs numbers have been improving steadily for months, with only one month really showing a shift

in the wrong direction. This conspiracy thing is completely without merit. They're just crybabies.

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Response to truthisfreedom (Reply #3)

Tue Oct 9, 2012, 05:12 PM

18. ... And that IS bad for him & other CEOs...

... They want it to be a "buyers" market so they can continue to rake in profits and suppress wages/cut benefits... the more people un-or underemployed & desperate for work - ANY work - the better for the vulture capitalists ...

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Response to kpete (Original post)

Tue Oct 9, 2012, 02:43 PM

4. Typical 'pub bully tactic.

Call them on their bullshit, punch them in the mouth....

Whatever...

They go running to Mommy.

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Response to DollarBillHines (Reply #4)

Tue Oct 9, 2012, 03:33 PM

9. Please allow me to translate for Mr. Welch using the immortal words of Eric Cartman:

"Screw you guys, I'm going home."

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Response to kpete (Original post)

Tue Oct 9, 2012, 02:52 PM

5. "he would get better "traction" elsewhere". coming soon to FOX the jack welch poma show

or world nut daily or the blaze or all of them.

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Response to leftyohiolib (Reply #5)

Tue Oct 9, 2012, 04:00 PM

14. My thoughts exactly.

When I read that line I thought, he probably got a call from Roger Ailes over the weekend to be their resident jobs expert on Fox. He fits in nicely. Throws out accusations and conspiracies with not a shred of evidence. Perfect addition to the staff.

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Response to kpete (Original post)

Tue Oct 9, 2012, 03:13 PM

7. and what is it with billionaire's voices?

Welch, Bloomberg... With all their money can't they buy a better voice? Instead of a voice that sounds like the pig is getting slaughtered.

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Response to kpete (Original post)

Tue Oct 9, 2012, 03:27 PM

8. That's right, "Chicken Jack"--bwack, bwack, bwack...scuttle on outta there, ya LOSER!

I must say, I love it when a hubris-laden asswipe of a wingnut gets his ass handed to him. It's so well deserved. He will not be missed, the silly old hate-filled fool.

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Response to kpete (Original post)

Tue Oct 9, 2012, 03:35 PM

10. The pukes set the goalposts at 8%. They did it themselves if I recall correctly.

Now that President Obama just scored in their arbitrary little game, they cry foul?

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Response to kpete (Original post)

Tue Oct 9, 2012, 03:46 PM

12. ...saying he would get better "traction" elsewhere.

Must have got a gig over at FOX.

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Response to kpete (Original post)

Tue Oct 9, 2012, 04:01 PM

15. Proof he'd rather the economy fail for us all just to support the 1%. What a devil.... n/t

 

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Response to kpete (Original post)

Tue Oct 9, 2012, 04:15 PM

16. Whiny little baby

What is it with all the pubs? All they do is bitch and whine when people don't bow down and believe their bullshit.

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Response to kpete (Original post)

Tue Oct 9, 2012, 04:32 PM

17. Jack and his ?


welch_bls_skaro

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Response to MindMover (Reply #17)

Tue Oct 9, 2012, 09:23 PM

23. Love the Doctor Who reference.

Jack Welch was sort of a Dalek-type of executive. He exterminated a lot of jobs. Employment at GE went from 411,000 in 1980 to 299,000 at the end of 1985 (according to Wikipedia).

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Response to kpete (Original post)

Tue Oct 9, 2012, 05:14 PM

19. awww COWARD Jack would love to hear from you

u can tweet his sorry ass @jack_welch

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Response to kpete (Original post)

Tue Oct 9, 2012, 08:49 PM

21. Neutron Jack is a big part of the problem with our economy.

He made it fashionable to lay off workers en masse and for corporate executives to not feel guilty about doing so. Prior to his example, executives felt it as a kind of failure if their workforce shrank.

The Neutron Jack nickname came from comparing his reign at GE to the enhanced radiation neutron bomb. He got rid of the people, but left the buildings standing.

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Response to kpete (Original post)

Tue Oct 9, 2012, 09:01 PM

22. LLLLLOOOSING!!!

Fuck this fascist gremlin. Little bastard's just angry that the economy isn't collapsing (which Jack and his enormous wealth would be shielded from) and Republicans aren't going to be in complete control like they were during Bewsh's first term. Neutron Jack set the tone for CEO economic terrorism in the early 1980s, firing anyone that couldn't be nailed down and offshoring the jobs to enhance major shareholders (and his own) coffers. He later had the unmitigated GALL to say that he "was helping those workers", reasoning that if he didn't, they'd be "complacent". Fucking clownshoe.

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