GE’s CEO Jeff Immelt falls on his sword:
“Our company’s reputation was tarnished because we weren’t the ‘safe and reliable’ growth company that is our aspiration,” Immelt, 53, said in his yearly letter to shareholders dated Feb. 6 and released yesterday with the annual report. “I accept responsibility for this. But, I think the environment presents an opportunity of a lifetime.”
For Jeff’s sake, it had better.