None of the Croutonville indoctrinated buzz words worked!!! They need new buzzwords fast!
------ GE Beliefs!!!!
I see Stokes is still clinging to the buzzword cult.
GE wasted $Millions on these dumb buzzwords and talking points. Shutdown Croutonville!!!!
OldGE - "Hope the new board will be able to right the ship but it's a mess." - what are you smoking ?
Are you following who Flannery is putting in charge of the businesses ? Leaders who know products , markets , customers ? Absolutely not , the path to salvation per Flannery is to put financial folks in charge of businesses like Power services ( once a star , now a dog).
I was a GE guy "all in" at one point , feels like a bad dream
Nope cracka it's Croutonville
*Crotonville
Cretinville world class failure. That works for an internet startup let's do that we will call it fastworks
Charlie-Recall there were 3 candidates: Jeff, McNerney, and Nardelli.
Nardelli ran Power (Energy or whatever it was called at the time), and was not a strategic thinker from what I heard from people who worked directly with him. He left GE to run Home Depot into the ground and got fired. Led Chrysler right into bankruptcy.
McNerney - Ran Aircraft did ok but commercial market was picking up. Ran 3M successfully then Boeing. Of the 3 he was the most successful.
Immelt had run several businesses and was probably seen as best prepared.
His selection was a decent decision, his retention by the board by 2006 was the mistake. Jack made some big acquisitions (RCA) but grew organically and as an engineer understood the products. Jeff, a Harvard MBA tried to grow by acquisitions and "bolt-ons" but clearly was not any good at it. The board approved all of them.
Bottom line is our board failed us and our investors. Hope the new board will be able to right the ship but it's a mess.
Seriously that leadership team does not deserve the packages they are walking away with. They failed. It was a wasted marketing effort that included spending big bucks on flashy commercials and buzz word campaigns. Out spending your competitor on fancy events doesn't move the stock.
Ecomagination !
GE store !
blah..blah, blah...how bout you make some f---ign money GE and stop spending on your leadership!
@pww the board will not do any of what you suggest, unless it benefits them personally.
And C-ville was a place to have a boondoggle and drink booze...it is and always has been a bad idea.
Crotonville was an asset to GE, where not just GE leaders were challenged, but customers benefited as well. However, with the streamlining that is on the horizon to hopefully save a 125 year old company that Jeff Immelt has almost run into the ground, Crotonville may not be as relevant any longer. Unfortunately GE no longer reflects the company that Jack Welch handed over to Jeff Immelt seventeen years ago and I am sure Jack regrets choosing him as his successor, possibly one of the worst decisions of his entire career. If the new Board of Directors has any integrity, they should look at the compensation packages for Immelt, Bornstein, Comstock and others that have recently been removed. There should be some level of accountability for the lives that have been impacted, retirements that have been reduced to rubble, 401K's decimated, towns and states impacted, etc.