Word: aircrafting
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China’s newly constructed Minsk Park, a big-boy playground named after the Russian aircraft carrier that serves as the center attraction, is delectable fodder for those in the media who are on a quest to prove that China is the natural enemy of the United States. With rides and games whose objective is to destroy the US Navy, it is almost too easy for the American media to play up Chinese anti-American sentiment. However, I would be more inclined to believe that in the case of Minsk Park, there is more testosterone involved than anti-American...
Immelt believes that "services are still in their infancy" at many of the company's other divisions. Rather than just sell aircraft engines, for instance, GE can help airlines maintain them, even remotely monitoring performance from the ground while the jets are in the air. Power systems, currently enjoying a $40 billion order backlog, can work with utilities to maximize efficiency and eventually offer forecasting technology to better predict electricity demand. Medical, which Immelt transformed from a $4 billion imaging-equipment vendor into a $7 billion, full-fledged systems provider, not only sells MRI machines to hospitals but also monitors...
...underperformance. In the two decades since he took the helm from Reginald Jones, another legend, the wiry, intense Welch, son of a train conductor from Salem, Mass., has turned a sprawling $27 billion-a-year industrial conglomerate into a $130 billion-a-year diversified dynamo that sells everything from aircraft engines, power turbines and CT scanners to life insurance, sitcoms, light bulbs and dishwashers. He exited businesses that GE couldn't dominate, from semiconductors to toasters, and earned the nickname "Neutron Jack" for his massive layoffs...
There is plenty of work yet to do on the portfolio that Welch created. GE's long-cycle businesses, such as power and aircraft, where orders are locked in years in advance, are in good shape. Not so the short-cycle divisions, such as appliances and lighting. Many observers expect Immelt to get out of the cutthroat business of selling dishwashers and refrigerators, which Welch was unable to do. Still, "having a few consumer brands is worth something," says Noel Tichy, a University of Michigan management professor who ran GE's famed Crotonville executive-training center in the mid-1980s...
...IRAQ Air Defenses Hit The U.S. launched several raids on Iraqi military installations after Baghdad claimed to have shot down an American aircraft over the southern no-fly zone. The Pentagon confirmed that an unmanned Predator reconnaissance plane was missing but denied Iraqi reports that retaliatory raids killed three civilians and injured 15. U.S. officials said American warplanes attacked military targets, including the radar site at Basra airport, that provide support for Iraq's recently upgraded air defenses...