Motley Fool Money GE’s Legacy & Lessons for Investors
Jan 22, 2023
William D. Cohan, founding partner of Puck and author of "Power Failure: The Rise and Fall of an American Icon," joins to discuss General Electric's storied legacy. He delves into the myths surrounding GE's origins and the frequent challenges of CEO succession, reflecting on Jack Welch's controversial era. Cohan also provides insights on the potential merger between Warner Brothers Discovery and NBCUniversal, predicting significant impacts on the media landscape. The conversation is a compelling blend of corporate history and modern business strategy.
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Edison and GE's Founding
- It's commonly believed Thomas Edison founded GE.
- However, he opposed its formation and quickly sold his resulting stock.
CEO Succession Psychology
- CEOs may subconsciously choose successors who won't outshine them.
- This might have been the case with both Bob Iger and Jack Welch.
Working with Welch
- Despite his abrasive style, many GE executives enjoyed working for Jack Welch.
- They valued his belief in them and his encouragement of dissenting opinions.
