Ken Langone: GE is an absolute tragedy

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  • Опубликовано: 17 май 2018
  • Home Depot co-founder and "I Love Capitalism" author Ken Langone on former NY Gov. Eliot Spitzer and the future of General Electric.

Комментарии • 78

  • @MyUsernameIsGuess
    @MyUsernameIsGuess 6 лет назад +13

    GE was deliberately destroyed by the enemy within.

  • @wesgrant1017
    @wesgrant1017 6 лет назад +4

    GE is a huge company. I live behind a GE finishing plant; they put the final CNC machining on airline engines. Honestly they have a HUGE contract right now, so much they are hiring thousands nationwide to barely meet the order.
    Thing to remember is that GE electric, GE Aviation, GE Appliances and so on, are actually different companies under the GE umbrella. GE Aviation stock is doing just fine. GE Appliances, not so much.

  • @davidjmify
    @davidjmify 6 лет назад +4

    It used to be run by engineers. It's now a financial services company.

    • @niilespunkari8832
      @niilespunkari8832 4 года назад

      i.e., it used to be a engineering company, today it is a hedge fund.

  • @averagejoe845
    @averagejoe845 6 лет назад +26

    I've worked for several very large corporations over the last 35 years and worked with other large corporations. I worked for GE for two years in the early 2000s. The vast majority of the managers in the company were arrogant, ignorant and abusive. They browbeat their employees routinely and by doing so taught everyone that it is best to lie to management to avoid the daily verbal abuse. There are signs posted throughout the facility promoting doing business with integrity, etc. These signs did not reflect the culture of the management. The shame of it all is that non-management employees are bright, hardworking and wanting to do the best for GE's customers. While other CEOs who followed will take the blame, GE's problems stem from the culture imposed by Jack Welch.

    • @jalsr.speak2379
      @jalsr.speak2379 6 лет назад +5

      Worked for them too and can confirm your comments.

    • @averagejoe845
      @averagejoe845 6 лет назад

      Fair question. I can though since I still have friends at GE I choose not too.

    • @arnabdas7634
      @arnabdas7634 6 лет назад

      #GE is going to sell its industrial engine unit for at least $3 billion. Last week it was announced that DOW will be replacing #GeneralElectric from the list with #WalgreensBootsAlliance. The replacement will be made on June 28. Check both the stocks here in-depth analysis:
      #GE: bit.ly/2yq3KoS
      #WBA: bit.ly/2MZewWC

    • @shooter7a
      @shooter7a 6 лет назад +1

      Jack Welch was just riding the wave of the economy (1981-2001). It is when the economy turns tough that you see what a company is really about, and how good it is.

    • @ag-bk5wf
      @ag-bk5wf 6 лет назад +1

      It worked for them for like 100 years. They bought a few divisions from my current employer.

  • @mactastic144
    @mactastic144 6 лет назад +4

    General Electric was founded in 1892. It's 2018. Business choices were made that ultimately led to the tragedy that is the company today. "Fortune 500 firms 1955 v. 2016: Only 12% remain, thanks to the creative destruction that fuels economic prosperity." GE is no longer innovating.

  • @registereddino1922
    @registereddino1922 6 лет назад +8

    0:50 What does this guy love?!?!

  • @TheStraightDope857
    @TheStraightDope857 5 лет назад +2

    Six Sigma killed GE. And Jack Welch insisted on Six Sigma. Immelt never stood a chance.

  • @1stchoicejohn
    @1stchoicejohn 6 лет назад +1

    It is a shame that GE has been run so poorly. But to say Home Depot is so well run is Wrong as well. The staff turn over is very high at Home Depot as they offer low wages, poor training, part time positions and little or no room for advancement. I shop there frequently and see great people leaving continually to find better employment. There is a ton of customer experience issues that should be corrected however there doesn’t appear to be anyone taking note. When I have made mention of procedures that would better our experience with their stores I have been told to go on line and give my feed back. Why don’t they take customer feed back at the store? Right customer satisfaction isn’t so important.

  • @GeneDexterExperience
    @GeneDexterExperience 6 лет назад +6

    Grateful i sold at $35 a share.

    • @moviesjean23
      @moviesjean23 4 года назад

      Gene Dexter when you taking us for a beer 🍺

  • @billashby7858
    @billashby7858 6 лет назад +4

    Jeff of GE advised Obama on the economy, anymore questions!

  • @mattcolver1
    @mattcolver1 6 лет назад +11

    A CEO who cares about the workers? Come on.

    • @dsgregg
      @dsgregg 6 лет назад +6

      GE was leader of the pack in changing American culture to believe that workers were a cost to be reduced. GE dehumanized people as does Home Depot.

  • @ennz2798
    @ennz2798 6 лет назад +7

    GE still has value in some sectors, don't be fooled.

  • @drumchefhubdad8698
    @drumchefhubdad8698 6 лет назад +3

    I stopped doing business with GE back in 2010 when I found out Immelt was lobbying Obama and had an office set up inside the Whitehouse for a time and ran MSNBC into the ground. He is a piece of cap who was doing business with Iran through German ties when there were sanctions and embargo against Iran. Immelt buried GE and for these reasons I will never do business with them again unless it's restructured and the leaders replaced by competent people.

    • @je5485
      @je5485 6 лет назад

      What about those banks who have paid Michael Cohen to have access to the white house? Did you close your account with them as well?
      Ben Carlson from Fox News is working for Trump and Scott Shine now is getting in the white house of staff, Will you stop watching Fox? I am not sure.
      My friend, anything we are using in our day to day life is related to those millionaires and businessmen who are influencing our politics for decades.

  • @aabrown300
    @aabrown300 6 лет назад +2

    Can she let him actually answer a question without interruption?

  • @dicklongmire6836
    @dicklongmire6836 6 лет назад

    3:00 Exactly why Bob Briker says to never exceed the 4% of your total investment portfolio in one stock. Thank you Mr. Brinker for the great education for nearly three decades.

  • @RodinThink28
    @RodinThink28 5 лет назад +1

    Will she stop TF from interrupting him ?

  • @e3erockstar08
    @e3erockstar08 5 лет назад +1

    Hey, Ken: It's easy to throw dirt on someone ELSE'S casket. By the way, that 65 yr old man is going back to work because he made his OWN decision to invest in the wrong way. Decisions have consequences.

  • @helpAmerica1
    @helpAmerica1 6 лет назад +2

    It's American, like GM and Chrysler and so many others they need social assistance

  • @waldensmith4796
    @waldensmith4796 6 лет назад +2

    Also forgot to mention we believe in GE great appls we just refitted our kichen with new GE appls. I encourage GE CEO and mgt to view the RUclips messages bringing hope, blessings, encouragement etc

  • @mrearlygold
    @mrearlygold 5 лет назад

    isn't home depot the walmart of home improvement stores? ( most everything is made in china ) ?

  • @waldensmith4796
    @waldensmith4796 6 лет назад +1

    Home Depot Co founder made some great points on GE. Great discussion. All i have to offer to GE Home Depot and other great corp are my 2 youtube messages on Money titled Giving and receiving the other is Strong and Courageous. Access with Rev. waldensmith. Thks for viewing if you can.

  • @janetmack7269
    @janetmack7269 5 лет назад

    These are the people

  • @janetmack7269
    @janetmack7269 5 лет назад

    What happen to GE

  • @jonathancisneros7150
    @jonathancisneros7150 5 лет назад

    This is like Enron if you think about it

  • @janetmack7269
    @janetmack7269 5 лет назад

    If GE had none evil men

  • @janetmack7269
    @janetmack7269 5 лет назад

    Illinois
    Shares are gone

  • @RJ1999x
    @RJ1999x 6 лет назад +1

    The problem with GE is its product. It's poor quality mass produced low cost, yet they spin it as GE being high quality. I've stood next to GE turbines that vibrate from poor design, while turbines made by Allis Chalmers were so smooth you couldn't tell they were running

  • @xpat73
    @xpat73 5 лет назад

    I'd love capitalism if it made me his money as well!

  • @janetmack7269
    @janetmack7269 5 лет назад

    Why warch CNCBS when they only speak negative about GE anything positive to feed out

  • @moviesjean23
    @moviesjean23 4 года назад

    GE 8,75 BUY. SELL
    _0.05 (0.57%)
    Today SHARES

  • @64Street
    @64Street 5 лет назад

    He says "I love Dick". Why would you say that on TV, This is why CNN is in trouble. Then he says he wants to "unjack something", really keep that in the bedroom.

  • @janetmack7269
    @janetmack7269 5 лет назад

    Home Depot oh no them to

  • @janetmack7269
    @janetmack7269 5 лет назад

    That's what happen when you hate on a race of people you don't educate
    Walgreene

  • @furtrapper11
    @furtrapper11 6 лет назад +3

    Home Depot is my favorite store

  • @whtwitch3014
    @whtwitch3014 6 лет назад

    first of all American companies stop whinging about how unfair the rest of the world is and start making products that the rest of the world actually wants to buy. Germany runs a trade surplus with China, why? because they make products that are more innovative and better quality than the Chinese produce themselves. People in Europe don't buy American because they can get better quality, more innovative and cheaper products than they can buy from the US even without tariffs. The people of the EU simply don't want things like chorine washed chicken and meat full of chemicals they value their health more. The UK used to have a huge Empire and the countries of that Empire were banned from buying and selling to anybody outside the Empire. So for example India could grow cotton but they weren't allowed to weave it. They had to sell it to the UK and then import the cloth back. In the 1950's because much of the developed world had been destroyed in the war American companies found a welcoming market where they sold their products because those countries couldn't make what the US produced. By the 1960's those countries had gotten back on their feet. But what they soon discovered was that even though they had given US companies access to their markets they were paying considerably more for the product than the US consumer did. What they also discovered was that many American companies were selling their products in the US at near cost and making up their profit shortfall from other countries. So those countries started to make better and cheaper products than their American counterparts. Soon they discovered they could export to the US and undercut the American product. What did American companies do? they ran to government and complained that other countries weren't playing fair and got government protection. So other countries imposed similar protections. American farmers receive billions of dollars of government aid but then complain their foreign competitors are receiving government support but don't think they should lose theirs. The rest of the world trades with each other without resorting to threats and trade wars and they get along just fine because of moaning they get on with improving. The world has grown since the 1950's and new markets and producers have come into play and while they have innovated many US producers have sat back on their backsides and expected the world to still work the way they want it to. America grew on the back of the railroad boom but all the technology they used was stolen they never bothered with patents or intellectual property rights. If American companies spent less of their profits on, lobbyists, share buy backs and excessive corporate bonuses and instead spent it on research and development then they might have a chance in the world market. But other countries are not going to stand still while America thinks the world should operate the way they want it to. The base material for the manufacture of aluminium is bauxite and the US has very little bauxite and is dependant on imports. what would happen to the US aluminium industry if those countries who do have bauxite and nearly all produce aluminium were to turn round and say we have decide not to export bauxite in it's raw state but turn it into aluminium which you can buy? In the 1980's Jack Welch the then CEO of GE said that unless GE were in the top two of any sector they would get out of that sector and many American companies have followed suit. They ran away instead of fighting. Harley used to make bikes that nobody wanted because they were poor quality and the Japanese and Germans got into their market. they blamed everything and everyone for their problems until they finally discovered that their problem was themselves. Many US producers are doing exactly the same thing they blame any one and everyone but themselves and then wonder why they can't compete. Apple among others have proved that American producers can compete in the world regardless of tariffs and regulations. But sadly many want to blame others for their own inadequacies and have found a President who is more than willing to listen. But while there will be some hardship on all sides in a trade war the rest of the world will still be able to trade with each other and many of those markets will grow. But America is in real danger of locking itself out of those markets for good

  • @minmaungmaung8129
    @minmaungmaung8129 6 лет назад

    Gone with the lousy American wind. RIP GE or request China for help.

  • @AhuwahZeus
    @AhuwahZeus 6 лет назад +1

    Don Fabrizio Massimo-Brancaccio is the top owner of the Vatican and has high authority over the Sicilian Mafia and owns the Corleonisi Clan with the Riina and Graviano family of Brancaccio as their mafia agents. They own a large fortress in Arsoli and another castle in Campania. The Massimo family use lions on their coat of arms like Corleone, Sicily uses a lion on its flag. The Massimo family frequently take the name Leone which means lion. Brancaccio is a neighborhood in Sicily where Cosa Nostra originated and named after the Brancaccio family that later merged with the Massimo family. The Massimos use violence, threats, terrorism, extortion, and blackmail as their primary tools for control. The Massimo family are one of the oldest families of Rome and claim to be the ancient Fabii-Maximus dynasty. They likely have a portion of Maximus ancestry. The Pope is titled the Pontifex Maximus. Massimo or Maximus mean massive or the Latin meaning of greatest. The Fabii family were known for using the "scorched earth" military tactic during the Roman Empire. Scorched Earth is a ruthless tactic where they burn everything down that can aid an enemy like food, resources, and people. The communist Fabian Society uses the wolf in sheep's clothing for its logo. Fabii like Fabian. The Massimo family are married with royal bloodlines like the Savoy, Wettin, Bourbon, and Osorio noble family which have a family branch in Galicia, Spain. The Osorio family use wolves on their coat of arms. Prince Carlo Massimo is married to Princess Elisa Osorio of Moscoso and Estagna. Amancio Ortega is from Galicia and works as a Court Factor and money launderer for Spanish nobles including the House of Osorio. Amancio Ortega is one of the wealthiest billionaires and worth more than 70 billion. Amancio Ortega owns Inditex with the store chain called Massimo Dutti which is high end fashion.
    Prince Stefano Massimo married into the British Foxwell family and he is a fashion photographer with residences in London. Prince Stefano's mother was the English actress Dawn Addams. The Massimo family of Roccasecca own the Clerkenwell Mafia of London also called the Adams crime family and are part owners of various Irish Mafias. The district of Clerkenwell is known as London's "Little Italy." Rupert Murdoch who owns Fox News is a Vatican Knight of the Order of St Gregory. Fox was covertly named for Foxwell. The fox is considered a cunning animal. Fox News is a propaganda machine for the Vatican. Prince Valerio Massimo founded SCM Capital Partners and an aerospace company called Auctus Industries with his business associate Duke Edward Spencer-Churchill. The House of Massimo and other Italian Nobility have infiltrated the United Kingdom and work with the House of Windsor and some British Peers. The Massimo family has married in with the Lucchesi-Palli, Savoy-Genovese, and Bourbon families. All these families are mafia owners. The Massimo family have a close alliance with the Borghese family with Princess Barbara Massimo-Brancaccio married to Prince Scipione Borghese. I believe the billionaire Bulgari family of Rome work for the Massimo family. The Bulgari family and their jewelry company were recently investigated for tax evasion. Some jewelry companies are involved in money laundering by fixing the prices of jewelry. The Bulgari family originated from Bulgaria which uses a coat of arms with two lions similar to the Massimo coat of arms. I believe the term Black in Black Nobility refers to the Black Sea along the eastern coast of Bulgaria where some Goths resided. The words mass and bulge can be synonymous.
    The House of Massimo is the nucleus of the Black Nobility. They are the primary owners of the Holy See. I believe they have a hidden ancestry with the ancient Spanish House of Burgundy. Queen Maxima of the Netherlands claims Burgundian ancestry. I believe Baron August von Senarclens de Grancy who had an affair with Princess Wilhelmine of Baden was a relative of the Massimo family and this is why the House of Hesse created the name Battenberg for suspected Senaclens offspring which later married in with the royal families of Russia, Spain, Sweden, and England. Princess Marie of Battenberg's son was named Count Maximilian and another suspected Senarclens was Princess Maximiliane Wilhelmine Auguste Sophie Marie of Hesse. Prince Carlo Massimo oversees the Sovereign Military Order of Malta as President of the Italian Association of the Order of Malta. The Order of Malta was involved in various wars and several top military and intelligence leaders in the United States like Alexander Haig, William Colby, and John McCone were Knights of Malta. The Massimo family have authority over a faction of the Jesuits through their Massimiliano Massimo Institute and former Jesuit Nobile Collegio Mondragone which had five Massimo presidents. Prince Ferdinando Massimo has been an honorary president of this closed college. Mondragone uses a dragon for its symbol. The Black Nobility use Jesuits as Roman intelligence and infiltrators. The Roman born Mario Draghi is President of the European Central Bank and Draghi was educated at the Massimo Institute. The Black Nobility have control over vast wealth through private Swiss banking. There are three board directors for the Bank for International Settlements connected to Rome including Mario Draghi, Fabio Panetta, and Ignazio Visco. The very evil Prince Giacomo Massimo-Brancaccio worked at Banca Finnat located at the Palazzo Altieri in Rome.
    The Massimo family are the foundations of the global crime syndicate and they are involved in every crime imaginable including war crimes, terrorism, murder, extortion, threats, human trafficking, money laundering and more. The Massimo family also run organized crime in Rome like the Magliana Mafia and were one of the families behind the neo-fascist group Nuclei Armati Rivoluzionari headed up by their agent Massimo Carminati. This family has a portion of ownership over various mafias including the Corleonisi Clan, Magliana Mafia, Gambino crime family, Clerkenwell Mafia, Lanza crime family, Philly Mob, Irish Mafia, and Boston crime family. Most mafias pay dues back to the Massimo family through their Corleonisi Clan. Individual mafia families make billions per year. I believe the Massimo Palazzo has an underground tunnel connecting to the basement of the Vatican which is how they have maintained their control. The Massimos have recently married with the Carpegna-Falconieri-Gabrielli family which function as their support. Members of the Massimo crime family include Prince Fabrizio Massimo-Brancaccio, Donna Alessandra Malesci, Princess Barbara Massimo-Brancaccio, Prince Giacomo Leone Massimo-Brancaccio, Prince Carlo Massimo, Prince Stefano Massimo of Roccasecca, Prince Valerio Massimo of Roccasecca (Foxwell), Prince Cesare Massimo of Roccasecca, Prince Tancredi Massimo of Roccasecca, Prince Ferdinando Massimo, Prince Lucovico Massimo-Lancellotti, Prince Ascanio Massimo-Lancellotti, and Prince Filippo Massimo-Lancellotti. Prince Giacomo Massimo-Brancaccio's unnamed father is another high level and well guarded member of this wicked family and possibly living in France or French Polynesia. The Massimo family are the greatest source of wickedness on Earth.
    www.dagospia.com/mediagallery/dago_fotogallery-76137/443528.htm
    Don Fabrizio Massimo
    www.zimbio.com/photos/Alexis+Pouille+de+Balkany
    Prince Giacomo Massimo in the middle
    www.scenariomag.it/bloody-brunch-allhotel-locarno/pamela-allvin-e-filippo-massimo-lancellotti-2/
    Filippo Massimo Lancellotti II
    geneall.net/en/name/153619/stefano-massimo-prince-of-roccasecca-dei-volsci/
    Stefano Massimo, prince of Roccasecca dei Volsci
    www.dagospia.com/mediagallery/dago_fotogallery-60518/395615.htm
    Prince Carlo Massimo with the satanic witch Princess Giorgia Pacelli
    www.dagospia.com/mediagallery/dago_gallery-29886/305569.htm
    Barbara Massimo with Scipione Borghese
    www.collegiomondragone.com/EX-VII°Pres.html
    Ferdinando Massimo
    www.auctusindustries.com/team.html
    VALERIO MASSIMO di ROCCASECCA
    geneall.net/en/name/361690/cesare-camillo-alessandro-massimo-di-roccasecca-dei-volsci/
    Cesare Camillo Alessandro Massimo di Roccasecca dei Volsci
    artattackapp.wordpress.com/2016/06/15/artattack-launch-exhibition-the-dot-project-london-art-scene/#jp-carousel-6833
    Prince Tancredi Massimo

  • @shooter7a
    @shooter7a 6 лет назад +3

    I am sorry, but all this worship of Jack Welch is nonsense. When the economy is booming, a monkey can run a company. Jack did good things, but there were probably a thousand managers who would have done the same thing at the head of GE during that period. It is when the economy is tough that you see how good someone is. All the Jack Welch people that got pushed out of GE starting in the 2000s went on to work at other companies. I worked for a company that took on dozens of top management people from GE...and they nearly destroyed our company. Why did it work so great from the 1980's though the 1990s...and not work later? Because the economy was fundamentally different. Take the Jack Welch of 1980 and put him in charge of GE now...and the result would be the same.

  • @JimmyKraktov
    @JimmyKraktov 6 лет назад +2

    Maria always looks like she has a permanent case of hay fever.

  • @nohopeequalsnofear3242
    @nohopeequalsnofear3242 5 лет назад

    This is why i canceled cable tv..this billionaire schill, cant say anything meaningful

  • @CHAS1422
    @CHAS1422 6 лет назад

    Elliott Spitzer is doing a damn good job building massive housing projects on the East River in Williamsburg Brooklyn. Politics are endlessly complicated.