Volume 49, Number 2 · February 14, 2002
Welch's Juice
By Jeff Madrick
Jack: Straight from the Gut
by Jack Welch with John A. Byrne
Warner Business Books, 479 pp., $29.95
When Jack Welch became chief executive officer of General Electric in 1981, American business was more beleaguered than at any time since the Great Depression. Economic growth in the 1970s had slowed significantly on average from the pace of the 1950s and 1960s. Inflation appeared to be uncontrollable. Stock prices, after falling precipitously in the 1970s, had yet to climb back to the levels they first reached as early as 1966.
Review, 4884 words
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