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...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...
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...
Corporate takeovers get all the attention. How could they not? Billions of dollars and thousands of jobs are at stake. Then there's the rock-star status of dealmakers like GE's Jack Welch. But the ugly truth about mergers, running at a record clip again this year, is that a great many don't work out. It should be no surprise, then, that amid so much merger mayhem, company divestitures are running high as well...
...stocks. Big decisions. Neither company is likely to hurt you badly. GE will keep growing without Welch, and AT&T is getting so cheap that it will attract bargain hunters. But as icons go, both will disappoint...
...time.com/personal for more on AT&T and GE. E-mail Dan at kadlec@time.com See him Tues. on CNNfn...