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For telling the financial community something most common folk have know for years (in fact never forgot).. Oh well better late than never. Hopefully it's not too late.
:banghead: :noidea:
"On the face of it, shareholder value is the dumbest idea in the world," he said. "Shareholder value is a result, not a strategy...your main constituencies are your employees, your customers and your products."
"It is a dumb idea," he said. "The idea that shareholder value is a strategy is insane. It is the product of your combined efforts - from the management to the employees".
Asked to comment about recent remarks by Jeff Immelt, his successor at GE, that "anybody could run a business in the 1990s. A dog could have run a business," Mr Welch said he agreed with the concept because economic conditions were better.
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