Word: downturn
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Welch wasn't perfect--retailer Montgomery Ward and brokerage Kidder Peabody were businesses that blew up on his watch--but GE stock has risen close to 4,000% and the company has consistently delivered 10% to 20% in annual earnings growth. Even during the current downturn, GE posted a healthy 15% rise in second-quarter earnings, though its stock has fallen 33% since its most recent high of $60 last August. No wonder, then, that as Immelt put it at the company's annual managers' meeting in Boca Raton, Fla., in January, "everybody at GE thinks they work for Jack...
...also said that “it could be bad because if you have people who are coming just to make money and to hedge against an economic downturn it could lessen the intellectual curiosity of the place...
...home. Thus Fox's plan for immigration reform, coupled with economic reform to grow the Mexican economy. But President Bush also has plenty of reason to be cautious, since curbing immigration has long been a hot-button issue for his party's conservative base. And the U.S. economic downturn will increase the pressure that forced the White House to backpedal on the wide-ranging amnesty it floated at the beginning of summer. Today, the Bush administration is talking not of an amnesty, but of a "guest worker" program...
...coming in, but its effects are not widely felt. All of this puts a lot more pressure on a president who has promised fundamental change and redistribution of wealth and better opportunities for everyone. His major challenge is to find a way of delivering on his promises during a downturn...
...there may be Republican voters who don't like the idea of changing the immigration laws to favor Mexicans at a time when people in the U.S. are worried about their jobs. If we were in an economic boom it wouldn't matter as much, but the economic downturn changes everything for both sides...