Jack Welch, who led GE through two decades of unparalleled growth with a brash style that changed the landscape of American corporations, has died at 84.
As head of General Electric from 1981 to 2001, he took the company founded by Thomas Edison a century earlier and brutally transformed it into the biggest US company by market value.
Jack Welch (1935~2020)；是美式領導之神話的代表。書本《不惜任何代價，但求利潤》(At Any Cost: Jack Welch, General Electric, and the Pursuit of Profit)是很好的寫照。
2020.3.4
抽樣"作假"？
The dollar figures involved were relatively small for a company of GE's size. In 2002, for example, the changes reduced revenue by $158 million and net income by $22 million, less than 0.2% of GE's net income, according to a quarterly filing with the Securities and Exchange Commission.
他的"不可一世"績效，待退休不到20年，就煙消雲散，
讓公司退休人員痛苦，員工蒙羞(百年老明星企業被股市"忽略"......)公司可以苟延多年。21世紀的GE的故事，就是一家了不起的百年企業的步上"衰亡"：董事長國外考察，飛機隊都是6架，不准有錯。
2020.3.4
It's not just General Electric's share price, dividend and bottom line that have contracted. GE's once-sprawling workforce is also shrinking in dramatic fashion.
抽樣"作假"？
GE's Accounting Draws Fresh Focus On News of Improper Sales Bookings
BY KATHRYN KRANHOLD
Word Count: 360 | Companies Featured in This Article: General Electric
General Electric Co.'s accounting practices are again in the spotlight after GE revealed that employees had improperly booked locomotive sales in 2000 through 2003.The dollar figures involved were relatively small for a company of GE's size. In 2002, for example, the changes reduced revenue by $158 million and net income by $22 million, less than 0.2% of GE's net income, according to a quarterly filing with the Securities and Exchange Commission.
好魔幻
請查他創立的GE Finance！
Jack Welch, G.E. Chief Who Became a Business Superstar, Is Dead at 84
Mr. Welch was named “manager of the century” after General Electric’s revenue jumped nearly fivefold during his tenure.
請查他創立的GE Finance！
Jack Welch, G.E. Chief Who Became a Business Superstar, Is Dead at 84
Mr. Welch was named “manager of the century” after General Electric’s revenue jumped nearly fivefold during his tenure.
Jack Welch, the former C.E.O. of General Electric, in 2001.
Jack Welch died. "GE is 'one recession away from Chapter 11' , General Electric: Madoff investigator alleges $38bn fraud - BBC. How General Electric became a general disappointment...GE大裁員..At Any Cost: Jack Welch, General Electric, and the Pursuit of Profit
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"We'll see how solvent they are at year end, and we'll see if they make it into 2020"
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2019.8.15
3 時間前 - A private financial investigator who flagged warnings about Bernard Madoff's $65
General Electric fought back Thursday night after the company was accused of fraud and its stock experienced its worst one-day percentage drop since April 2008.2018.2.13
Turbines built by GE create a third of the world's electricity. But with a $9.8 billion loss and the looming risk of being dropped from the Dow, GE is in a real-time meltdown.
GE: The American golden child
GE represents the height of American business. The godfather of modern electricity, Thomas Alva Edison, provided notable inventions including the lightbulb and the locomotive while other GE scientists invented the x-ray machine, the jet engine and everyone's favorite summertime appliance: the electric fan. Katharine Burr Blodgett, the first female scientist hired by GE, invented the non-reflective glass that is used in cameras today. GE built a large portion of the American economy, expanding across industries with the grit and moxie American companies pride themselves on.
"While I believe Immelt compounded GE's problems, I also think these started under Welch, particularly when he allowed GE Capital to borrow way too much money," says investigative reporter Charles Ortel, one of the first to predict GE's downfall. "At heart of GE's pain likely were too many ill-advised and debt-financed investments that may, in theory, have offered earnings per share accretion potential, but confused financing and investment decisions."
And that brings us to GE Capital. Most people don't know much about GE Capital. Functioning as the financial services unit for GE it finances GE customers buying products like jet engines, industrial equipment, power turbines and medical machines. But under Jack Welch GE Capital amassed a portfolio of highly specific assets, financing everything from Mexican warehouses to condos, to leasing railcars and fleets, all of which came to a head during the 2008 financial crisis.
But they wanted it to be bigger
Responding to pressure from investors, Jack Welch expanded GE Capital, making it the largest issuer of commercial paper in the world, incurring debt to invest beyond their means. GE Capital made up 60 percent of GE's earnings growth between 1990 and 2005.
Jeff Immelt, nicknamed by the Harvard Business Review as "The Great Transformer" claimed to remodel GE toward industrial businesses, where GE's enormous scale made it a good fit. Immelt's letter, published in the HBR was titled "How I Remade GE" and describes a different company than the one investors saw.
In 2001, Welch received the largest retirement package in history. Valued at $420 million, it included access to an $80,000-per-month Manhattan apartment, tickets to elite sporting events and lifelong use of airplanes and other GE facilities. And it wasn't until Immelt stepped down that GE finally cut some costs.
Read more: General Electric to cut 12,000 jobs
During his tenure, it was not uncommong for Immelt to take company aircrafts to business meetings, often having an empty jet follow behind, just in case.
The 2008, crisis marked a point when GE had to make some big decisions. Rana Faroohar, an economic analyst for CNN, had conversations with executives who knew the choice was between being a bank or going back to innovation, "They decided to do the latter and they have moved away from finance. They have been selling off their financial assets and they are trying to now move into making things particularly geared for the emerging markets.
A lot of people are really watching that company to see, hey, can a big American company that went this far into the process of financialization pull back and really move to a different paradigm?"
What next?
A recent $6.2 billion charge for problems with its finance unit is only stoking concern about its survival. GE's new chief executive John Flannery has spoken with analysts about his plan to focus GE on its three main businesses: health care, aviation and power generation. GE has since disassembled GE Capital, reinstating it to its former purpose.
Read more: General Electric to slice up its empire
The options are increasingly limited and investor confidence has been pummeled. Unless GE can convince another billionaire like Warren Buffett to bail them out again, many analysts are surmising the company will only survive if broken apart. One can interpret what Immelt said in his departure letter with new eyes, given the current state of affairs, "We were a classic conglomerate. Now people are calling us a 125-year-old start-up."
2016.1.15
【即時頭條】GE計劃在歐裁員6500人
GE表示由於歐洲對燃氣輪機和汽輪發電機的需求減弱，計劃在歐洲裁員約6500人，同時將原阿爾斯通能源業務整合到公司運營中。
GE發言人Renaud Petitjean1月13日在巴黎表示，包括在法國裁員765人，德國裁員1700人。在完成對阿爾斯通的收購後，裁員人數約佔子公司GE發電和水處理(GE Power & Water)在歐洲聘用的48000名員工的14%。
2015年11月，GE敲定了對阿爾斯通能源業務價值85億歐元（92億美元）的收購交易。此舉促使總部位於美國康涅狄格州的GE擴大了盈利豐厚的燃氣輪機維修和維護業務，同時在可再生能源和輸電業務方面增設合資企業。GE此前承諾將在法國淨增1000個職位，以獲得法國政府對該收購交易的支援。
「法國可能受到影響的任何職位在該期間結束後將得到替換，」Petitjean在電話中表示。「如果我們撤銷這些職位，將會在此前承諾的1000個職位之外，再次創設這些職位。」撰文/彭博社 編輯/鄧雅蔓
總之 GE計劃在歐洲裁員約6500人，同時將原阿爾斯通能源業務整合到公司運營中。
GE發言人Renaud Petitjean1月13日在巴黎表示，包括在法國裁員765人，德國裁員1700人。在完成對阿爾斯通的收購後，裁員人數約佔子公司GE發電和水處理(GE Power & Water)在歐洲聘用的48000名員工的14%。
2015年11月，GE敲定了對阿爾斯通能源業務價值85億歐元（92億美元）的收購交易。此舉促使總部位於美國康涅狄格州的GE擴大了盈利豐厚的燃氣輪機維修和維護業務，同時在可再生能源和輸電業務方面增設合資企業。GE此前承諾將在法國淨增1000個職位，以獲得法國政府對該收購交易的支援。
「法國可能受到影響的任何職位在該期間結束後將得到替換，」Petitjean在電話中表示。「如果我們撤銷這些職位，將會在此前承諾的1000個職位之外，再次創設這些職位。」撰文/彭博社 編輯/鄧雅蔓
總之 GE計劃在歐洲裁員約6500人，同時將原阿爾斯通能源業務整合到公司運營中。
該唾棄 傑克．威爾許 的狂言
這位 傑克．威爾許， 在聯合報與他太太推出什麼專欄，賣的盡是美國「可能」最爛的管理實務，並強姦行銷與策略字眼differentiation，應該予以譴責。
「來自吉隆坡的谷澤問：我真心支持依員工表現決定升遷及裁員的差異化管理制度（differentiation），把員工分為績效最優的前20%、績效中間的70%，和較差的最後10%，建立「不長進則淘汰」的標準。但執行時很容易遭到百般抗拒，要如何解決？」(傑克．威爾許專欄》實施差異化管理 急不得 【經濟日報／編譯 謝璦竹】 2006.10.02 )
「……差異化管理是什麼？簡單地說，它的精神是「擁有最優秀人才的團隊才能取勝」。要是你不同意上述原則，永遠不可能了解差異化管理。如果你同意，那麼這套制度可以提供你達成上述目標的方法。如何達成？首先，大方地獎勵團隊裡的明星，不只在荷包上，也要讓他們的心理感到滿足，這樣才能留住最好的人才，讓他們發揮最大才能；積極開發中間的70%的潛能，給予訓練跟個別指導；去除墊底的10%，好讓新血可以加入。…….」
我們知道一個人在組織中的績效並不是他/個人的表現而已，還有更多的環境因素（系統等共同原因）和互動、變異，需要長時間才能確認，所以遴選員工要慎始。員工的表現和主管的領導可能有莫大之關係。他們更不應該用粗糙的"(年度)考績制"或強制排序法來合理化。
分級太殘忍？ 文化偏見
不適任的員工，至少可以考量去留及時轉行。
答：用「抗拒」來形容恐怕委婉了些！
很多人支持差異化管理制度，甚至有不少死忠派，但歷來從沒有一種管理措施引起如此激烈的爭議。感謝你提出來，我們正好藉此說明差異化管理的精神，其實真正的差異化管理並不等同於每到年底就「把人分級、揪出壞份子」，然後公開開除他們；差異化管理也不殘忍，容易受循私與文化偏見影響。
那麼差異化管理是什麼？簡單地說，它的精神是「擁有最優秀人才的團隊才能取勝」。要是你不同意上述原則，永遠不可能了解差異化管理。如果你同意，那麼這套制度可以提供你達成上述目標的方法。
如何達成？首先，大方地獎勵團隊裡的明星，不只在荷包上，也要讓他們的心理感到滿足，這樣才能留住最好的人才，讓他們發揮最大才能；積極開發中間的70%的潛能，給予訓練跟個別指導；去除墊底的10%，好讓新血可以加入。
基本上，差異化管理制度可幫助導入精英領導，且持續提高團隊的績效標準，讓公司競爭力不斷提昇。如果是這樣，為什麼這個制度會引起你說的百般抗拒？最常聽見的理由是：把人分級太殘忍。
但我們的看法完全相反。差異化管理評定各人表現，因此人人都知道他目前的評級，即使不總是好消息，但至少讓他們可以控制自己的命運。
比較另一種情況，某家公司出於仁慈的理由，讓表現不佳的人在公司裡摸魚好幾年，只拍拍他的背安慰他。有一天情況不允許時，突然來個大逆轉，年屆中年表現不佳的員工首當其衝，一個一個被叫進主管辦公室懇談，對話通常如下：
「喬，恐怕你得另覓高就了。」
「什麼？為什麼是我？」
「呃…因為你的表現一直不佳。」
「我在這兒20年了，怎麼你從沒跟我說過？」
說真的，為什麼你從沒說過呢？如果你早點說，這個員工早幾年前可能還可以找到有前途的工作，現在已經45歲，或者50歲，他面對的就業市場從沒像現在這麼競爭，這樣難道不殘忍？
At Any Cost: Jack Welch, General Electric, and the Pursuit of Profit
本書 At Any Cost: Jack Welch, General Electric, and the Pursuit of Profit By Thomas F. O'Boyle， 1998年初版，書名意思是Jack Welch 把他在中學時"不惜一切代價追求贏 (Win- At-All-Cost)心態帶入企業界。 (p.69) 它說明20世紀90年代GE的CEO，Jack Welch，他的一心追求的財務上短視績效，只是美國崇拜華爾街心態下應運而生的"假"英雄.....。
由本書的索引中的Peter Drucker和W. Edwards Deming，我們很可以知道作者如何利用這兩位管理學理論大師的基礎來寫他的史詩。
第69頁以Drucker 著名的企業三問，導入Welch先生學自Bendix公司企畫長致Fortune 的信，發展出"本公司所有的事業部都必須是業界的第一名或第二名，才可以在本公司有立足之地。"的哲學。頁373-74 頁更以Drucker 在1946年的【公司的概念】說，現代通用企車公司的開創者Alfred P. Sloan, Jr.，雖然將公司的汽車的美國市場佔有率提升到48% (約40年代末)，集團之經營極客觀、有效、就事論事，不過GM是一家"沒有靈魂的公司" (參考Sloan 著的【我在通用汽車公司的日子】)。
Drucker 的另外一位企業英雄是創IBM的Thomas J. Watson Sr (他大Sloan一歲)。Sloan建立的是大而分權的企業，不過Watson 十年之後所建立的IBM，更尊重員工個人，創立Drucker夢寐以求的"全廠共同體" (plant community，如公司俱樂部等)，對於要求尊守高商業道德標準等等，都是日本公司戰後學習的楷模--這是日本的友人告訴他的。(頁240-41)
本書也介紹Deming的經營管理的十四要點等，來針貶GE公司的經營---在Jack Welch的前任，60~80年代，GE的人，讓Drucker選為"專業知識工作者的代表。記W. Edwards Deming是作者當WSJ的記者時訪問Dr. Deming的。
Google Books這版本是2001版--Afterword 寫於2001年4月。上述2011年版應該是補充近35頁。由書內搜索。
這本書很難能可貴處是沒寫 Jack Welch的緋聞與離婚記。簡述故事：美國著名的商業刊物Harvard Business Review 的編輯某人去訪談 Jack Welch 董事長，兩人一見鍾情，可能還一起去珠寶店為 Jack Welch太太買結婚紀念禮物？後來 Jack Welch太太知道先生偷情，兩人就離婚。
2011 前幾天在CNN看 Jack Welch 的訪問
才知道有人認為他是20世紀最了不起的經理---才怪
約10多年前 哈佛商業評論HBR的一位編輯訪問他
結果是兩人煞到 開始約會 (此 Jack 還將新書 送其妻)
一年後女有高升 最後辦公室革命 群起而攻之
他們戀情公開後結婚......
之後包裝再寫書 寫專欄 儼然是位管理大師......
現在有管理學院訓練MBA....
此君是美式管理的包裝大王......別相信這種人
Jack Welch - Wikipedia, the free encyclopedia
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John Francis "Jack" Welch, Jr. (born November 19, 1935(1935-11-19)) is an American chemical engineer, businessman and author. He was Chairman and CEO of ...
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傑克·威爾許- 维基百科，自由的百科全书
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