Word: ge
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...Apart from its annual $500 million investment on training and education programs worldwide, GE's strong reservoir of talent is largely due to Welch's focus on his employees...
...handwritten notes to workers keep the faxes humming, and he knows by sight the names and duties of at least the top 1,000 people in GE...
...Part of the premium Welch places on people can be seen in his development of Crotonville, where he is a familiar figure. The 52-acre New York GE campus is the first major corporate business school in the world where everyone from newly-hired college graduates to division heads gather to learn from each other and, frequently, the big man himself...
...Welch earned the nickname "Neutron Jack" in the early 1980s for the massive layoffs he initiated at GE--he eliminated nearly two-fifths of the company's total workforce in his drive to get the conglomerate out of businesses it could not dominate...
...early '80s was a horrific time for all of us in the industry. All kinds of businesses just went in the toilet and GE was in some of those businesses," Buckman says...