Word: nardelli
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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...
After it was clear that Badillo had lost, Nardelli sat in the backroom of his club with the captains discussing what they should do next. Nardelli quickly convinced them that they had to support Beame...
While some of the younger workers were against the idea, the older captains all agreed that the organization had to support Beame. Nardelli told the captains he would be in touch with Beame's people the next morning...
Sitting in a corner, still muttering about the poor organization was "the Rabbit" Nardelli went over to him and gave him a pat on the shoulder...
...this" Nardelli was talking about was an envelope containing $150. As the district leader, Nardelli gives each worker between $25 and $150 for his efforts on primary pay depending on the relative importance of the job and the ability of the person...