Word: welch
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Love doesn't take you far in politics, but until last Wednesday, Jack Welch, the CEO of General Electric, might not have known it. "I love George W. Bush," Welch said during the presidential campaign. Bush loved Welch back, considering him for a Cabinet spot and earlier this summer dispatching members of his Administration to Brussels to lobby the European Union on behalf of Welch's proposed--and ultimately rejected--merger with Honeywell...
...Republican shock troops in the West, and antagonizing greens, with this week's House approval of his plan to drill for oil in the Alaska National Wildlife Refuge. So there was little cost in offering a nod to environmentalists in the East, and what more conspicuous a target than Welch, who had enjoyed the Administration's largesse this summer and will soon retire anyway. "It's something you can give Pataki at the same time you're standing up to one of the largest companies in the world [and] striking a blow for the environment," says a top Republican consultant...
...spent millions on a public-relations and lobbying campaign to nix the plan, and CEO Jack Welch even went to Whitman personally. The company insisted Tuesday that the dredging operation - the largest in U.S. history - would "do more harm than good," stirring up PCBs, or polychlorinated biphenyls, now safely buried under layers of sediment on the river bottom, and besides that would visit "decades of disruption" on area residents. And yet Whitman remained unmoved...
...Bush could convince his friend, Enron CEO Kenneth Lay, to squawk even louder than Jack Welch, he might get those 2004 soccer-mom votes...
Harnessing the good, culling the bad: that's where things get dicey. Since the mid-'90s, a growing number of companies have looked to the success of Jack Welch with General Electric to guide them through this psychologically ambiguous terrain. GE's mandate from the top is that high performers--even prodigies--who unrepentantly trash company values are given the boot...