
Destruction of value
Grant’s Current Yield Podcast
Jack Wells, Jeff Imelt, and GE Capital
Under Jack Wells' reign, GE capital was arbitraging its AAA credit rating and borrowing really cheaply. We also wanted warrants, you know, right out of the Mike Milken play book, right? He loved that business; he had very smart people running it. And then when he didn't get along with Gary went, and Gary went and embarrassed him because of his very high-profile divorce,.
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