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ToughAncientSpark
VisualPolitik EN
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Comments by "ToughAncientSpark" (@freetolook3727) on "The decline of industrial icon of the US - VisualPolitik EN" video.
@1:04 WRONG!!! Maybe popular among other CEOs, Jack Welch was reviled not revered!
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@4:06 Hmmm, sounds a lot like Evergrande in communist China.
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What happened to GE? Short answer: Jack Welch. Long Answer: When Jack Welch took over Generous Electric, he had a plan. The plan was that GE would be first or second in the world in every division in everything they did. That meant selling off divisions even though they were profitable because they weren't number one or number two in their category. That's why GE stopped making light bulbs, small appliances, small gasturbine generators and laid off 2/3 rds of the workforce and cut back benefits. Many, many people in my area worked at GE lived a good lifestyle and retired with a nice pension. The GE plant in Schenectady once had a workforce of 29,000 employees in three shifts. Now, only about 6,000 work there and it's mostly clerical. GE asked to have it's tax liability lowered. The city said it was based on the buildings there, so GE tore down all the older industrial buildings and moved the divisions elsewhere in the world. Thanks to Jack Welch, Schenectady is just another destroyed back water industrial city in The Great Industrial Northeast.
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@1:20 WRONG AGAIN!!! GE is Schenectady based, not Boston. Get your facts right you hobgoblin.
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