Welch destroyed GE through sheer greed
GE’s decline began when former CEO Jack Welch transformed GE from a respected, innovative manufacturing company to one that was focused only on raising earnings and the stock price GE increased earnings every quarter during Welch’s 20 years as CEO. These too-good-to-be-true earnings resulted from layoffs of engineers, scientists and workers from its manufacturing businesses and by closing the labs that supported manufacturing with new technologies and QC. The Schenectady Turbine Technology Lab that supported Power Systems was one of the labs closed.
Wall Street applauded Welch’s “genius” for increasing earnings and the stock price. The earnings increases resulted by stripping GE of the engineers needed for new innovative products. This is why the company that gave the world jet engines, gas turbines, unbreakable plastics and silicones did not produce any new blockbusters during the 20 years Welch was CEO.
The destruction done by Welch could not be undone by Immelt when he tried to restore manufacturing and rid GE of Welch’s disastrous financial acquisitions.
It took a hundred years and generations of engineers and scientists to make GE a successful company, but only 20 years of Welch’s greed to enrich himself with stock options to destroy GE.
MARK MARKOVITZ
Niskayuna
Niskayuna district must have security
In response to one of the concerned parents, David Klein, who asked a very pertinent question, “Why is it happening in Niskayuna?”, parents and NSD staff should consider the following: The State Sheriffs’ Association said, “New York should fund at least one armed resource officer in every school.” (Feb. 2018); “New York already spends millions … to protect a relatively small number of judges.” (Barry Virts-Wayne County Sheriff); The estimated cost would be the equivalent of hiring one more teacher in each school (Sheriff’s Association); and, districts with a much lower tax base, such as Mohonasen, have hired armed security officers.
Superintendent Tangorra needs to answer this: How long before he responds with action to continual threats?
How long will he be working for Niskayuna if threats become reality and he hasn’t recommended security officers?
Also, if there is no real threat, Mr. Tangorra should move his office to the high school and provide verbal security!
Emilia Sasso
Rotterdam
The writer is a retired high school teacher and administrator.
Categories: Saratoga County
