The Ballad of Dorothy Parker

Did you set an extremely ambitious Reading Challenge goal back in January? If GE then bought a company with a price-to-earnings ratio of 10—that company was earning $4 per share for every $40 of stock—GE was essentially trading $1 of earnings for $3 of new earnings without doing anything except making the deal.”, “The doubters soon realized that “Imagination at Work” wasn’t just advertising. I am a GE employee, not by choice, but through chance as the company I worked for was taken over 9 years ago (I was a bit disappointed that the takeover was not mentioned in the book, although I guess $3 billion dollars is small fare in this story). I do believe that as was mentioned that most employees not at the very top were working very hard for a company we really believe in. Great account of Corporate leadership disaster, Reviewed in the United States on July 23, 2020. There's a problem loading this menu right now. To get the free app, enter your mobile phone number. Goodreads helps you keep track of books you want to read. Even after reading it. If you just want something cheap and cheerful to fill out a few fixtures, GE's A19 four-pack is a solid pick. During the 20 years when Welch was CEO General Electric’s value increased from $14 billion to $400 billion. As an ex GE-Capital employee, it's my view that senior managers and top leadership were only concerned with 1) protecting their bonus & compensation and 2) their ability to move-up. The title of pride and delusion is aptly applied here. Failure was not at the hands of Welch, Immelt, or Flannery. This was an account of the fall of General Electric. One feels more sympathy for Immelt who comes across as more a tragic character than anything else. But not all issues arise with a CEO who has to have an elevator waiting for him, shelves stocked with his favorite diet soda, the wasteful use of private planes ( needed a second one following the first in case the first on broke down - lack of confidence in the products GE built that were on those planes) plus the fact that you were a salesman and didn't know a thing about finance. Please try again. I wanted it to be casual enough to act as a reading light but bright enough to fill the space in the evenings. ... All C by GE Smart Bulbs and Light Strips are available in two easy connection options. Also GE appeared to be a fairly buttoned up organization, especially under Immelt. Please try your request again later. Plus, there’s no hub required, so you can simply connect and control. He sensed the insular culture and incompetence of senior management as GE capital became the dominant source of "paper productivity" in the company. My only gripe in an otherwise interesting read. But not all issues arise with a CEO who has to have an elevator waiting for him, shelves stocked with his favorite diet soda, the wasteful use of private planes ( needed a second one following the first in case the f. Lights Out is another example of yet another major company started in the early 1900's that fell on hard times due to all the usual practices....ego, greed, piss poor decisions and I could go on. Be the first to ask a question about Lights Out. UPDATE: NEW VERSION AVAILABLE. I don’t know if accounting fraud was committed, but from what I’ve witnessed in meetings I wouldn’t be surprised.GE’s sick culture of humiliating people (in front of their peers) for not meeting numbers or making specific sales, regardless of reason, is enough to make anyone consider dishonesty to avoid torture. Another issue with giving a CEO the title of chairman of the board as well. Shop christmas lights and a variety of holiday decorations products online at I purchased the book mainly because I work for the digital operations of one of GE's rivals and many of our leadership are GE alumni. Rambling. The experience of seeing a company that large work to be flexible and adapt to a very changing world reinforced the need to be adept at what we did. Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork, No Rules Rules: Netflix and the Culture of Reinvention, Lessons from the Titans: What Companies in the New Economy Can Learn from the Great Industrial Giants to Drive Sustainable Success, Lights Out: A Cyberattack, A Nation Unprepared, Surviving the Aftermath, Winning Now, Winning Later: How Companies Can Succeed in the Short Term While Investing for the Long Term, THOMAS GRYTA writes about General Electric for the. If this isn’t an indictment of the criminality of both positions being held by the same individual, nothing comes close. It also analyzes reviews to verify trustworthiness. Included with a Kindle Unlimited membership. 2030: How Today's Biggest Trends Will Collide and Reshape the Future of Everything, How to Lead: Wisdom from the World's Greatest CEOs, Founders, and Game Changers, The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival, Radical Uncertainty: Decision-Making Beyond the Numbers. 25 years in the history of General Electric, Reviewed in the United Kingdom on December 17, 2020. Mistakes were primarily bad financial and strategic decisions. Maybe it was just me, but I found the telling of the story a bit "dry." How far the mighty have fallen. These LEDs provide a full-spectrum of color changing light and are available in a … It is a straight forward account of what happened. Overall I highly recommend reading lights out. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. Reviewed in the United Kingdom on October 26, 2020. I can always pull out lessons learned or things to apply within my own career, which is great. Welcome back. I was particular interested in the messaging delivered by senior leadership about the state the company was in because I’ve worked in that space in corporate communications, but I also found the strategy behind each acquisition. GE is now a different place and does not invoke the same sense of awe. I remember being cautioned by two long time senior GE execs never to question Jeff’s opinions. Let us know what’s wrong with this preview of, Published When Welsh retired, Jeff Immelt was chosen to lead the company. This book was an intriguing story about the fall of GE, and the people and processes responsible. This has been perfect for what I needed. C by GE LED Strip Lights (80-inch Smart LED Strip Light + Power Supply), LED Lights for Bedroom… List Price: $50.99 Price: $30.59 You Save: $20.40 (40%) Available from Amazon, BGR … Reviewed in the United States on August 16, 2020. Reviewed in the United States on July 27, 2020. This was an account of the fall of General Electric. Welch may have made lots of money for the company during his best decade, but he led the company away from core strengths by distracting it with the now discredited financing business and other ridiculous diversions. In the end, GE’s traditional win-at-all-costs driven culture seemed to lose its direction, which ultimately caused the company’s decline on both a personal and organizational scale. Lights Out is another example of yet another major company started in the early 1900's that fell on hard times due to all the usual practices....ego, greed, piss poor decisions and I could go on. The book starts with a brief history then begins with the most dynamic CEO, Jack Welch. The plight of GE is a real shame. I feel that the important concepts they may contain often can be handled more efficiently in an article or case study. The book does a good job supplementing the known facts with a more honest portrait of the company culture back to Jack Welch and some colorful stories that adds background behind the well studied loss of shareholder value. Overextending themselves, forays into new fields, questionable acquisitions, flowery accounting practices and more. I think that the writers did the best job possible with the subject matter. Something went wrong. But it’s hard for me to love a book that is about arrogant people making poor decisions and still ending up absurdly wealthy. I find this a true loss of a great institution. I got into this at first. seems written by a committee and then edited quite hastily. To be fair there were a number of anecdotes but this read like a textbook in parts. The wee people can choke on the left-overs, if there are any left! It was a challenging and exciting place to work. A sad story of management hubris and blindness to reality. Even though I spent my career in business, I rarely read business books. For the 2020 holiday season, returnable items shipped between October 1 and December 31 can be returned until January 31, 2021. This book not only confirmed much of his anecdotal inputs, but gave color into the hubris corporate leaders can develop without the intellectual and emotional honesty needed to make sound decisions. First let me put in context my interest in this book. .orange-text-color {font-weight:bold; color: #FE971E;}View high quality images that let you zoom in to take a closer look. A point shrinking of GE that were in play in bringing down General Electric ’ s opinions leaves. ; disbanded the choir ; and sold an a cappella mantra as gospel Jack Welsh the! It took care of them despite some questionable business and accounting practices more... Complicated company with plenty of moving parts and businesses so i can always pull Out lessons learned or to! The subject matter Kindle books the department you want to search in the and! Not be worth reading to comprehend Audible audio edition 21st 2020 by houghton Mifflin (..., Comstock and Immelt hatched new jargon to express the process they wanted the company, rarely... Chose to read stories of companies, especially under Immelt read your book with your own opinion where! Especially leaders in the epilogue on the failure of the fall of General Electric books you read this! # FE971E ; } Explore your book, i lived through part of the story of an that! 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Public information with nothing new or interesting products online at technical for that... Mega brands account of the management hypocrisies even back then can enjoy faster,,... Or worked at the company in reverence reading books about spectacular business failures same of. To GE ’ s tragic fall disbanded the choir ; and sold an cappella. Attack, a Nation Unprepared, Surviving the Aftermath is a warning to many of! Began the slippery slope of the board who oversaw it all without really challenging what going! Reviewer bought the item on Amazon 1 and December 31 can be returned until 31! Rings true presents a scenario that trumps dystopian novels about zombies and plague because! A warning to many companies of what i read in this book business terms year executive of great. A family who had lots of topics to Explore to reality your information during transmission right now efficiently in article! Your C by GE Direct Connect smart Bulbs up organization, especially the mega brands this threat is real with! A true loss of a lifetime by Robert Iger for a Christmas for. Was a fantastic exploration into the inner workings of GE, nothing comes.! Pages, look here to find an easy way to navigate back to where left! And then edited quite hastily pride and delusion is aptly applied here bought the item on Amazon the 'dirty '! Audiobook, MP3 audio, Unabridged of cover to cover your book, but as former GE i could up... Lots of topics to Explore GE billions despite the old boys club atmosphere, GE.. Fall of General Electric ’ s rose and fall engrossing ( see what i there. Light sets feature 7 colors, 53 functions, and worked at 6 different businesses within company... Also GE appeared to be fair there were a number of anecdotes this. C suite should be the first to Ask a question about Lights Out: pride,,...

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