The Decline of General Electric (GE) w/ William Cohan | Power Failure Book Discussion (TIP527)
发布时间 2023-02-24 07:45:00 来源
摘要
My guest today is NYT best selling author, William Cohan. William has just released a new book titled Power Failure: The Rise and Fall of an American Icon. It’s the incredible story of General Electric, which at many points over its 130 year history was the largest and most admired company in the world. We sometimes take for granted all of the many innovations that came out of GE like, for starters.. Electricity. As well as diesel locomotives, jet engines, water treatment systems, power grids, diagnostic and imaging products for health care, and media and entertainment through NBCUniversal and RCA.The book is as big as a Harry Potter sequel at nearly 800 pages and, if you’re listening to this show, probably more entertaining! With over 17 years on Wall Street and the opportunity to work at GE Capital for a few years, William's insights and research are unparalleled.
📌 A quick note that we had a couple of technical difficulties during the recording, resulting in a microphone change for William towards the back half, but the audio quality did improve.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:04:35 - The origin story of GE, starting with founder Thomas Edison with backing from JP Morgan
00:08:28 - Why Charlie Coffin might be the best CEO of all time
00:17:17 - The dark side of Jack Welch and his career at GE, as well as the many successes
00:27:08 - The many cycles that repeated over its 130 year history
00:37:48 - Why the company has now been deconstructed into 3 separate entities
00:46:34 - How Jeff could have saved the company by listening to Bill Gross and Jim Grant
00:50:02 - The debate on whether Jack handed his successor, Jeff Immelt, a “royal flush” or an open grenade.
00:52:59 - Warren Buffett’s bet on the company
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📖 BOOK MENTIONED:
- Power Failure by William Cohan: https://amzn.to/3YI6shg
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀
💡 OTHER RESOURCES
- Visit William’s website: https://williamcohan.com/about/
- GE website: https://www.ge.com/
- Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a special $140 discount: https://bit.ly/3WG6WU3
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I’m Trey Lockerbie and host of We Study Billionaires🎙. I used to study options trading but pivoted to value investing 💵 after a life-altering dinner with Warren Buffet. Back in the day I was traveling around the world as a musician, but I’ve now settled in Los Angeles with my wife and two children. Together with my wife I started Better Booch 🥃 - a nationally distributed Kombucha company.
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