ToughAncientSpark
IT'S HISTORY
comments
Comments by "ToughAncientSpark" (@freetolook3727) on "Why Gary Indiana will Become a Ghost Town (The Rise and Fall of Gary Indiana) - IT'S HISTORY" video.
6
6
4
3
3
3
1
1
1
More than anything else, corporate greed, killed the industry.
GE in Schenectady, NY employed 29,000 people until Jack Welch took over.
His "vision" was to make GE numer one or number two in the world in every department.
So, many departments were sold off, including light bulbs, small appliances, and small generators even though those divisions were entirely profitable, they weren't #1 or #2 in the world.
So, GE lost many opportunities for profit from divisions selling products that consumers wanted and needed.
GEs work population went from 29,000 to around 6,000-7,000 and on top of that benefits were cut.
Many workers were replaced by "consultants" who made more money but had absolutely zero benefits.
Thanks Jack!🖕👎💩
1