GE chief attacks “meanness and greed’; Richest made most mistakes with least accountability; Bottom 25% of Americans poorer than 25 years ago
Dec 10th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Jeffrey Immelt, General Electric’s - - GE - - chief executive, on Wednesday in a searing indictment of American corporate leadership, said of his generation of business leaders: "Tough-mindedness, a good trait - - was replaced by meanness and greed - - both terrible traits. Rewards became perverted. The richest people made the most mistakes with the least accountability. In too many situations, leaders divided us instead of bringing us together. As a result, the bottom 25% of the American population is poorer than they were 25 years ago. That is just wrong."