Friday, March 25, 2011
When I wrote THE SECRET TO GE's SUCCESS...which was originally entitled BREAKING THE GE CODE..(the so called experts at Mc Graw Hill changed the title, since they already several SECRET BOOKS).. I thought that JEFF IMMELT was just a victim of POOR TIMING and having to succeed THE LEGEND OF ALL LEGENDS..JACK WELCH..
I was even given the previlege of LUNCHING WITH JEFF in the EXECUTIVE DINNING ROOM for over two hours...
BUT, now I am totally confused.
JEFF appears to be very gracious and understanding and even has some elements of TRADITIONAL GE leadership...
BUT AGAIN.. his RELATIONSHIPS with the biggest failure of AMERICAN PRESIDENTS and even WORSE a PRESIDENT THAT LACKS LEADERSHIP TO SUSTAIN THE COUNTRIES POWER and the BEST SOCIETY EVER.. IS BOTH DISTURBING AND EVEN MAKES ME WONDER WHAT JEFF IS DOING.. IT APPEARS THAT HE SUPPORTS THE SOCIALIZATION OF THE COUNTRY AND HE IS NOT HELPING THE COMPANY, AND KEY STAKEHOLDERS.
I was once proud of GE as an ALUMNUS..but now I challenge its entire VISION, STRATEGIES and LEADERSHIP...
JEFF DO YOU REALLY KNJAOW NOW NEGATIVE WHAT YOU ARE DOING IS HAVING ON ALL OF THE "GE LOVERS, ALUMNI and KEY STAKEHOLDERS?
JACK WELCH appears to have SELECTED THE WRONG LEADER...even with the so called CREATIVE SELECTION SYSTEM.
Bill ROTHSCHILD..author of THE SECRET TO GE SUCCESS. the only real STRATEGIC HISTROY OF GE PAST and PROJECTED FUTURE.
Friday, March 4, 2011
Recently Jack has challenged the IMMELT strategies of GOING GREEN and IMMAGINATION.
He challenges whether the GREENING strategy...namely WIND FARMS and SOLAR will ever turn to the GREEN Currency of the US (which as become MONOPOLY MONEY with different colors because of the ability to replicate the currency).
When I worked for Jack it was clear that he always wanted to see the PROFIT results for any ventures or acquisitions...I agreed with the concept but challenged his logic...
IMMELT is the HEDGE FUND MANAGER of all time...and it is not clear that his portfolio makes sense..he needs the challenge of a WELCH LIKE leader...which I have always played with my clients and even in GE...
IMMELT must return to Critical analysis and REAL STRATEGIC THINKING and avoid BEING ALL THINGS TO ALL PEOPLE AND IMMAGINATION...
I still own a large number of GE shares and am disturbed that the stock price is so vulnerable and not the consistent earner of the past...
JEFF LISTEN TO ALL OF THE STAKEHOLDERS and EVEN YOUR MENTOR JACK WELCH..who is aging but not senile.
Still A GE LOVER...BUT CONTINUE TO BE A CHALLENGER OF ILLOGIC, AND NON STRATEGIC THINKING
Bill Rothschild..GE CLASS OF 1984.. and a retiree and shareholder,
Thursday, October 7, 2010
Everyone was very pleasant and professional. The lobby had not changed and I was directed to the third floor, which was the home of Reg Jones and Jack Welch when I worked there. I was greeted by a women who said to me" do you remember me?" I hesitated and said I did, but was uncertain, but she told me who she was and I did remember. She then introduced me another women who had also worked at the headquarters when I was the Strategic planner and had worked for one of my associates.
I felt at HOME and that NOTHING had changed since I left more than twenty years ago.
I was directed to the massive reception room, and I was the only guest.
After a short time, Jeff Immelt came out to welcome me. This was the first time I met Jeff personally and he was a delightful host.
Jeff and I had a one half hour visit in his executive dining room and discussed many issues about the company and my experience. He was surprised that I was at CROTONVILLE, now the Jack Welch Learning Center and that I was responsible for introducing BUSINESS SIMULATIONS and leading all of the Strategic Planning programs that was vital to the introducing the company to this vital process.
I left the over one half meeting feeling good about Jeff and his ability to lead the company. I thought he recognized that he had made mistakes and would address them.
I still like Jeff and his values and abilities but have been disappointed that that he had changed and that the strategy is on the right track.
My next discussion will describe my visit to CROTONVILLE and how it has changes when it was the TEMPLE OF CHANGE.
If you want to learn the complete story of GE's CODE of Success, read my book THE SECRET TO GE's SUCCESS...(a title I protested but was over- ruled by the creative editors of McGraw Hill)..
Sunday, August 29, 2010
This surprises me since it was always clear that GE had backed the less popular BWR and the market preferred the PWR. This is what I wrote in my book: The Secret To GE's Success three years ago: " Recall that, in the heyday of nuclear power, GE elected to back the BWR and not the PWR reactors. Over 75% of the installed nuclear units are PWR, and in many emerging markets like China, PWR dominate.
In January, 2006, British Nuclear Fuels--the owner of what was left of Westinghouse, including nuclear assets--decided to put it up for sale. GE allied with Hitachi made a bid. The two other bidders were both Japanese companies: Mitsubishi Heavy Industries and Toshiba. Toshiba bid $ 5.4 billion and acquired Westinghouse. GE believed the bid was too high but by failing to match Toshiba's price, it missed the opportunity to get access to the PWR technology and a large installed base, as well as the possibly losing the Chinese market. However, it should be noted that they have a relationship with Hitachi, who has been a PWR supplier. This may be one of the reasons that GE decided not to increase its bid for Westinghouse and it plans to use the combination of their own BWR and Hitachi's PWR to capture a significant share of Chinese opportunity"
I guess I was wrong about the combination of BWR and PWR since the article pointed out the GE is still focused on "a new improved" BWR, which I still think is a losing strategy.
This situation illustrates that GE may still be doing too much "imagination planning and not the proven, critical strategic thinking and decision making that made the company strong.
Thursday, August 12, 2010
A year ago, I was asked to comment, by CHEIF EXECUTIVE MAGAZINE, on whether IMMELT and his team should be fired. I asserted that it was not a good idea to replace Immelt, since IMMELT was the best GE had and t there was no one in the current GE team that could do the job. Since the GE TEAM was all hand picked by Jeff and would likely continue the same strategic plan.
I personally met with IMMELT in JULY 2009 and came away believing he was open and committed to doing what was needed for GE to be come the GREAT company was. For the first few months it appeared that he was doing what a good STRATEGIC leader, in the GE tradition.
IMMELT has done some of the SURGERY that is needed, but it is confuusing to understand why he supported an OBAMA administration which is clearly either doing what is wrong because it is confused or incompetent or is trying to do what will UNDERMINE what the country is built on and wants to REDISTRIBUTE wealth AND destroy the country.
If you read my book THE SECRET TO GE's SUCCESS, you will see that GE has been a political company and was once a SOCIALISTIC oriented company under SWOPE; to a highly conservative creator of RONALD REAGEN... but unlike the IMMELT situation was based on intensive evaluations of what the US needed and how GE could help and benefit. This is a contrast to the current situation where GE, under IMMELT, has backed an adminstration which is clearly FAILING to help the country and is not help GE succeed in using its talents and resources to help the country GROW STRATEGICALLY and create REAL financially strong jobs.
IMMELT has challenged the benefit of investing in CHINA and has added a few hundred jobs to the US, but it still APPEARS TO BE A STRONG PRO-AMERICAN COMPANY.
IMMELT must decide whether it is in favor of SAVING the country or supporting the forces what will undermine it.
Sunday, July 18, 2010
Unfortunately my Alma-mater, GE, appears to be so enamored with imaging that they may have lost sight of the reality that winners must DO WHAT THEY SAY AND NOT JUST DREAM ABOUT IT.
The current GE management team imagined that CHINA was winner and now find it is not as easy to deliver results and NEVER will be.
They thought that the OBAMA HOPE was consistent with their IMAGINATION and it is not.
They IMAGINED THAT THEY COULD GROW REVENUES at a consistent rate of 8% and have now realized it is not that easy.
IHOPE AS A STOCKHOLDER, ALUMNI and FAN OF GE's ability to succeed, THAT THEY FACE REALITY AND RETURN TO REAL STRATEGISTS and SUCCESSFUL LEADERS AND NOT JUST DREAMERS.