My old boss, before he retired a year ago, was heavily invested in G.E. stock throughout his career at the recommendation of his Edward Jones financial advisor. I am pretty sad about his financial situation.
Welch identifies politically as a Republican.He has stated that global warming is "the attack on capitalism that socialism couldn't bring", and that it is a form of "mass neurosis".Yet, he has said that every business must embrace green products and green ways of doing business, "whether you believe in global warming or not...because the world wants these products".
Although it was long after Jack left GE (and there is evidence most of GEs success was a facade [1], with poor management decisions abound), GE's gas turbine business (for electrical generation, not aircraft) was slaughtered by the rapid decline in cost for renewables along with the firm wagering on the gas business versus their renewables division [2] [3].
Regarding the beliefs of climate change: “A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it.” - Max Planck
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[ 3.0 ms ] story [ 23.3 ms ] threadWelch identifies politically as a Republican.He has stated that global warming is "the attack on capitalism that socialism couldn't bring", and that it is a form of "mass neurosis".Yet, he has said that every business must embrace green products and green ways of doing business, "whether you believe in global warming or not...because the world wants these products".
Regarding the beliefs of climate change: “A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it.” - Max Planck
[1] https://www.bloomberg.com/graphics/2019-general-electric-ris... (Charting GE’s Historic Rise and Tortured Downfall)
[2] https://www.pbs.org/wnet/peril-and-promise/2019/07/ge-multi-... (How slow action on clean energy cost GE billions of dollars)
[3] https://ieefa.org/ieefa-report-ge-made-a-massive-bet-on-the-... (IEEFA report: GE made a massive bet on the future of natural gas and thermal coal, and lost: Investors lost hundreds of billions by GE’s misreading of the energy transition)