Word: welch
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...business. At the same time, U.S. competitiveness has been vastly enhanced by a trend that could be reversed at a moment's notice -- the cheapening of the exchange value of the dollar, which lowers the price of American goods to foreign buyers. Says General Electric's chief executive Jack Welch: "If the Japanese are prepared to compete at 90 yen to the dollar, the U.S. must be prepared to compete at 130 yen to the dollar. Until we are, we delude ourselves if we think we are in control of our own fate...
With regard to jet engines, Welch said GE notified the Federal Aviation Administration about an employee's safety concerns in 1992, before the engineer went to the FBI as a whistle-blower. The FAA and the Defense Department investigated, Welch said, and found no problem. "So far on this one, everything appears fine," he adds. "Air Force One has those engines. The President is flying everywhere with them. And everyone feels comfortable...
That is how Welch wants everyone to feel about GE, which often appears to be his lengthened shadow. "The biggest tests in business are not about how great men handle success but about how good men handle crises," says G.G. Michelson, a longtime Macy's executive and an 18-year member of the GE board. As Welch makes his case and marshals his papers in GE's executive conference room, this highly celebrated corporate manager knows he is certainly facing one of those times of testing...
...rival Klan out of Chicago. According to Klanwatch, based in Montgomery, Alabama, Novak's Federation of Klans has siphoned off at least a third of Robb's members nationwide. "This group is more likely to embrace the neo- Nazi, swastika-wearing segment of extremists," says Klanwatch director Danny Welch...
...TIME interview, CEO Jack Welch takes on his critics...