Jack Welch's Way of Making GE Look Good

Welch used his finance division to buy up new businesses rather than like R&D and develop anything of its own that looked like they would be profitable. He would sell off businesses GE had many of which were still profitable, because it would bring in the swift short term profits. By kind of mixing these sales of business units with purchasing business units, he was able to ensure that the balance sheet said whatever he wanted it to say.