Word: ge
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...most eagerly awaited executive decision since the scrapping of New Coke, super-CEO Jack Welch last week named an heir to the GE throne. He is Jeffrey Immelt, 44, an aggressive yet charming manager who currently runs GE's Medical Systems unit. GE was mum on Immelt's numbers, which will be laid out in the company proxy in a few months. No doubt the Welch protege won a valuable prize. As Welch pointed out during a press conference last week, "He got a helluva raise, I'll tell you that...
Yeah. But two other GE executives were possibly even bigger winners than Immelt: Robert Nardelli and W. James McNerney, two Welch-trained knights-in-the-running who failed to win the crown. With Welch's shoes filled--if that's possible--these executives won't stay at GE much longer, and the pay packages that land them will probably dwarf what will initially be given to Immelt. A signing bonus in the tens of millions of dollars? Instant vesting in stock plans? Huge guaranteed annual bonuses? A big chunk of the company? Such goodies are widely available to top-flight...
...sign and a special bonus of as much as $50 million, depending on the stock price in two years. Oh, and a salary, bonus, stock grants and options worth more than $3 million annually. Wendt, it's worth noting, is a grad of the famous Welch U., having run GE Capital Services until two years...
Such deals aren't reserved for GE alums. When Carly Fiorina left Lucent to become Hewlett-Packard's CEO, she reportedly landed more than $50 million up front to compensate for the value of stock options she had to leave behind. (Smart move. Lucent's stock collapsed this year, contributing to CEO Rich McGinn's recent unemployment.) Alex Mandl got $20 million up front and 18% of the company when he left the No. 2 post at AT&T to run the telecom start-up Teligent. Others landing huge pay deals include Jamie Dimon at Bank One, Joseph Nacchio...
UNBREAKABLE BULB INVENTOR: GENERAL ELECTRIC Light bulbs last longer these days, that is, if you can get them into the socket before accidentally breaking their delicate shell. GE's Saf-T-Gard incandescent bulb is the first one that's completely shatterproof. Its Teflon coating means the glass may crack, but the pieces stay together...