General Electric, the Immelt Way
It has been a tumultuous five years for Jeffrey Immelt, who took over the top job at General Electric (GE ) shortly before September 11, 2001. Amid war, post-Enron regulation, and investor boredom with blue-chip stocks, he has bought or sold businesses worth $100 billion. He has pushed for innovation and green technologies. Has it worked? Immelt thinks so, but investors have their doubts. GE stock (adjusted for splits and dividends) is worth less than it was the day he took over, and about a third below the highs of 2000.
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