Why Jack Welch is Wrong about Obama
Between 2001 and 2008, the playing field was set up almost exactly as CEOs wanted it â reduced taxes on high incomes, capital gains and dividends; a business-friendly White House and Congress that let industry write its own regulation; a "CEO president" surrounded by MBAs; no new mandates and lots of subsidies. But the result was a disaster â a lost decade in employment and the markets ended with a crash.
Take a long-term look at the stock of the company Jack Welch left in 2001: GE stock (NYSE: GE - News) is basically where it was in January 1997. Between 2001 and 2008, a period of strong global growth and favorable policy that should have been a golden era for the company, the stock stagnated. Whom should we blame for that?