Word: welches
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Running a big-time Wall Street firm is not like running a carmaker. GE wonderboss Jack Welch cried uncle shortly after acquiring Kidder Peabody in 1986, and the Solomonic Warren Buffett couldn't run fast enough from his interim job as chief of Salomon Brothers in 1992. So you can see why stumbling CSFB grabbed Mack, whose own record for running a clean ship is pretty much unblemished. Mack was even rumored to be on the short list to succeed Arthur Levitt as head of the Securities and Exchange Commission. He's known for giving egocentric bankers--Quattrone while...
...find the book fascinating. For Hardt, a professor at Duke University, the modern world is characterized by the absence of a power center. The U.S. may be mightier than any other nation, but with economic and political resources widely distributed, it cannot always call the shots--ask Jack Welch. That much has been said before; but in a new departure, Hardt and Negri place mobility--not just of goods and services but of people too--at the center of their analysis. "A specter haunts the world," they write, "and it is the specter of migration." In a world of porous...
...aren't taking on these cases because they want to stick it to the ugly Americans. They are doing so because in a globalized world, the country where a company has headquarters matters much less than where it does business. If one person understands that truth, it's Jack Welch. Why, TIME asked Welch, should a European be able to shape a merger between two American companies? "That's the law," replied Welch. "That really is just the way the world works." We'd all better get used...
...battle is stoked by divisions of class, real and perceived. Jack Welch, head of the 600,000-member Blue Ribbon Coalition of motorized recreationists, calls the greens "elitist." Many of his fellow drivers see their enemies either as rich ski folk defending their million-dollar chalets along the Volvo/Chardonnay line or as REI-outfitted granola eaters who want the backcountry to themselves. The greens in turn view the ATV crowd as an emission-spewing, beer-guzzling NASCAR subset that stops to smell the flowers only after running over them...
Still smarting from his defeat in Brussels, Jack Welch nonetheless showed good humor and little bitterness as he spoke last Friday with TIME writers and editors...