Jack Welch’s Challenge
Jack Welch’s Challenge
“It was Jack Welch’s night to reign supreme once more.
That’s the assessment of Vanity Fair magazine, which along with Bloomberg News staged a panel discussion in Manhattan on Thursday evening on how the economy got into its current mess and how to get out of it. Vanity Fair said Mr. Welch, the former longtime chief executive of General Electric, was the audience favorite as he gave what it called “an unapologetic defense of old-school capitalism in a room teeming with past and future Masters of the Universe.”
Mr. Welch went head to head with the other panelists and the moderator, DealBook’s Andrew Ross Sorkin. At one point, he challenged the Nobel Prize-winning economist Joseph Stiglitz on the role of unions, saying, “Give me a highly successful, unionized American industry.”
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