Word: ge
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...20th century, General Electric's incoming chief, Jeffrey Immelt, 45, doesn't seem at all fazed. "Believe it or not, I know, operationally, how to do this job," says the towering, outgoing Immelt. He knows how to do a lot of jobs, having spent almost 20 years at GE. Most recently he ran its medical-systems business. "It's not like I have to go up on the mountain for 40 days and come down with a bunch of stone tablets," Immelt says...
...outside the company, particularly on Wall Street, where GE stock has enjoyed a hefty Welch premium, Immelt knows it's just beginning. Following a successful CEO is never easy. Consider such CEO casualties as Coca-Cola's Doug Ivester and Xerox's Rick Thoman, who followed high-profile bosses--Roberto Goizueta and Paul Allaire--and barely got a chance to make a mark before the long knives came...
...doesn't help matters that Immelt is starting his tenure at the end of an unprecedented bull market and in the midst of a global economic slowdown, when GE businesses from lighting and appliances to NBC are slumping and, some critics suggest, cash cows like power systems and aircraft engines may be peaking. Even the political climate has changed. In Europe, regulators scotched GE's proposed $43 billion deal with Honeywell (last week they moved on to Microsoft). In the U.S., the Environmental Protection Agency is forcing GE to clean up the mess it made dumping PCBs into the Hudson...
...their ancestors' graves and headed to Mombasa, where they heard that just maybe a medical clinic was needed. Today, they administer acupuncture to squirming Kenyan patients, and dry homemade noodles on a clothesline in their dining room. "We have created a little China in Mombasa," says Li's wife, Ge Yuehua, as she pushes pickled cucumbers onto my dinner plate...
...they're earning more. European sales of American-size refrigerators are growing 10% a year. And many are sold by U.S. firms. Says General Electric spokesman Terry Dunn: "Americans take big fridges for granted, but in Europe it's like owning a BMW or a Jag." Market research led GE to pitch its offerings to local tastes: stainless-steel finishes for the British and Dutch, warm colors for the Italians, artsy images for the French and Spanish...