Lights Out: Pride, Delusion, and the Fall of General Electric

Thomas Gryta (Author) Ted Mann (Author)
& 1 more
Backorder

Description

How could General Electric--perhaps America's most iconic corporation--suffer such a swift and sudden fall from grace? This is the definitive history of General Electric's epic decline, as told by the two Wall Street Journal reporters who covered its fall. Since its founding in 1892, GE has been more than just a corporation. For generations, it was job security, a solidly safe investment, and an elite business education for top managers. GE electrified America, powering everything from lightbulbs to turbines, and became fully integrated into the American societal mindset as few companies ever had. And after two decades of leadership under legendary CEO Jack Welch, GE entered the twenty-first century as America's most valuable corporation. Yet, fewer than two decades later, the GE of old was gone. ​Lights Out examines how Welch's handpicked successor, Jeff Immelt, tried to fix flaws in Welch's profit machine, while stumbling headlong into mistakes of his own. In the end, GE's traditional win-at-all-costs driven culture seemed to lose its direction, which ultimately caused the company's decline on both a personal and organizational scale. Lights Out details how one of America's all-time great companies has been reduced to a cautionary tale for our times.

Product Details

Price
$39.99  $36.79
Publisher
Houghton Mifflin
Publish Date
July 21, 2020
Language
English
Type
MP3 CD
EAN/UPC
9781094179322

Earn by promoting books

Earn money by sharing your favorite books through our Affiliate program.

Become an affiliate

About the Author

THOMAS GRYTA writes about General Electric for the Wall Street Journal. Previously he covered the telecommunications industry for the Journal and was a Knight-Bagehot fellow at Columbia University. In prior work around the newsroom he covered the biotechnology industry and did general assignment reporting and copyediting. Gryta studied history at the University of Massachusetts, including a year in Germany. He lives in New Jersey with his wife and three children.
TED MANN is a reporter in the Wall Street Journal's Washington Bureau, where he is part of a team covering business and government. He was the beat reporter covering General Electric and other industrial conglomerates for the Journal's corporate bureau in New York from 2014 to 2017, and previously covered transportation for the Greater New York section, where he broke the George Washington Bridge scandal that ensnared former governor Chris Christie and his aides. He is a graduate of New York University.

James Edward Thomas is a voice talent and audiobook narrator.

Reviews

"Gryta and Mann tell a bracing tale of corporate venality, incompetence, and shortsighted dealmaking, showing how one man--former CEO Jeff Immelt--hollowed out GE until all that was left was its myth. It's a parable with no heroes, but many lessons for anyone who wants to know how 21st Century corporate management, which venerates stock price above all other measures of value, has gone so disastrously awry."

-- "New York Magazine"
A gripping and deeply reported account of the devastating disintegration of one of the most iconic firms ever to exist. To all of us shocked by GE's seemingly abrupt fall from grace, this book lays out in painful detail how such a thing could have happened.-- "Rita McGrath, Columbia Business School, author of Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen "Gryta and Mann tell a bracing tale of corporate venality, incompetence, and shortsighted deal-making. It's a parable with no heroes, but many lessons for anyone who wants to know how 21st Century corporate management, which venerates stock price above all other measures of value, has gone so disastrously awry."