Does GE’s first quarter bomb mean it needs to needs to break up or at least sell off NBC U? The very question caused former GE CEO Jack Welch to reach over and theatrically slap Fox News’ Neil Cavuto. “That’s all crap, that’s all nonsense,” Welch said.
On CNBC this morning, Welch said his former protege Jeff Immelt “was getting his arse kicked,” but by this afternoon on Fox News, he seemed to be buying the notion that “seized-up” credit markets were explanation enough for the missed earnings.
Said Welch: “The facts are the guy came on television, he apologized for missing. I don’t think he’s going to miss again. He made a prediction, unfortunately, three weeks prior earnings, and the world changed on him.”
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