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Finance types have run a once-proud product company into the ground

Engineer
Former Employee
Worked at General Electric for less than 1 year
January 8, 2011
Lynn, Massachusetts
3.0
Approves of CEO
Pros

Reputation. Experienced professionals all around. Work with very smart people. Great place to learn. Great products in aviation, some other businesses.

Cons

Metric-driven; gaming the metrics more often than doing the right thing.

Decisions based on obsolete financial metrics and the stock price.

Products that people want and value are secondary.

The company hasn't invested in key facilities and product lines in decades.

The new health plan took away whatever advantage this had been in the past.

Advice to Management

Product, product, product.

GE has been a bank for too long, and it hasn't served the company well.

Reinvest in the people, technology, and hardware that made the company great in the past.

There are some early signs that Jeff Immelt has started to do this. I fear that it's too late.

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