From the archives: Jack Welch on 60 Minutes

On the eve of his retirement in 2001, the former CEO of G.E. spoke with Lesley Stahl about turning his company around, embracing the internet, and the reputation that earned him the nickname “Neutron Jack.” Welch died Monday.

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"60 Minutes," the most successful television broadcast in history. Offering hard-hitting investigative reports, interviews, feature segments and profiles of people in the news, the broadcast began in 1968 and is still a hit, over 50 seasons later, regularly making Nielsen's Top 10. "60 Minutes" has won more Emmy Awards than any other primetime broadcast, including a special Lifetime Achievement Emmy. It has also won every major broadcast journalism award over its tenure, including 24 Peabody and 18 DuPont Columbia University awards for excellence in television broadcasting. Other distinguished awards won multiple times include the George Polk, RTNDA Edward R. Murrow, Investigative Reporters and Editors, RFK Journalism, Sigma Delta Chi and Gerald Loeb Awards for Distinguished Business and Financial Reporting. "60 Minutes" premiered on CBS Sept. 24, 1968. The correspondents and contributors of "60 Minutes" are Bill Whitaker, Steve Kroft, Scott Pelley, Lesley Stahl, Anderson Cooper, Sharyn Alfonsi, Jon Wertheim and Norah O'Donnell. "60 Minutes" airs Sundays at 7 p.m. ET/PT. Check your local listings.

[davidskalski]

So Jack Welsh stop producing household goods and got into media and weapons and financial services.
The other takeaway is that there will always be a bottom 10% to fire so he created a toxic work environment where people are always job insecure and paid as little as possible to benefit the shareholder.

[I_dont_want_an_at]

back when the internet was still something you could kind of ignore

[jeromedavis]

Jack Welch is the reason why GE filter-flo washers were killed.

[jimmimurphy]

I love the Gin Rummy game with your Mom story! I also would come home from grade school and some times invite a friend school and play Rummy with my Mom and Grand Mother. The funny thing is my Grand mother would make Welsh Rarebit and we would get a shot of beer that was leftover when she was done cooking!
I would always shoot for going out calling Rummy using a poker face! I wish I could have had my kids come home at lunch to play with my Mom and Wife but they made the school a closed campus. Need to say we still live in the same house I was born in and my kids and I went to the same grade school.

[Chertoff]

Neutron Jack one of the most evil men in history. Treated his employees horribly, fired whole floors of people so he could buy a new yacht. Destroyed the Hudson River, admitted to cooking the books by billions of dollars. OSHA exists because of him

[TheNighthawk]

Notice how he is talking with absolute confidence, doesn't use arguments but uses strong words to convince and when asked something tricky he brushes it off again with words and not arguments.
I don't know if this interview is a truthful representation of the man. Maybe someone can clear this up for me.

[chipbuttytime]

I wouldn't last 5 minutes with a boss like him, he is a tyrant

[jeffreywilliams]

Jane Beasley, Jack's second wife, is part of this report. Let's not forget Jack cheated on Jane and she divorced him, winning $180 million in her divorce settlement. Way to go, Jane!

[I_dont_want_an_at]

a rich guy who enjoys golf! Highly irregular!

[peaceseeker]

David Gelles wrote an excellent book explaining the destruction Jack Welsh leveled on capitalism in America. Given the outcomes in recent years, he was a failure by his own standards.

[jimlambrick]

He wanted to build a factory on a barge so he could float it to wherever the labor was cheapest. What a prince of a guy.

[Kylefassbinderful]

9/11 was just 9 days later. This was the Sunday episode (no duh) just before my first day of high school.

[christopherharmon]

IIRC this is the same guy your praising that wrote a book called Integrity, then he dumped his wife for the woman who helped him write it. INTEGRITY OK. NEUTRON JACK.

[flash]

GE — I once believed in Jack Welch about making GE products to an excellent standard; six sigma. Since then I have owned GE products. Microwave died in two years, hardly used. GE refrigerator, among the most expensive and has broke down more often than any refrigerator we have ever owned. GE service lousy. I applaud their dishwasher. Wow — reality met the false embellishments of Jack Welch. I will never buy another GE product again. If a GE product works now I say - amazing. Very convincing man that doesn’t match his message.

[sanjitnair]

GE's golden era ? Rather Jack's golden era. He was making money. Heights of selfishness...

[I_dont_want_an_at]

typical rich American business leader. dime a dozen. They're all carbon copies of each other

[I_dont_want_an_at]

Americans are so god damned American, it's incredible!

[I_dont_want_an_at]

in the future, we feel sorry for these prehistoric business times. Before you had a properly integrated smart economy

[DrHydro-mqsw]

Der Mann hat in seinem Leben sehr viel Schaden angerichtet.

[mohammediqbal]

RIP May be you have taken all the money with you which you earned by firing others job.