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GE's $100 Billion Wipeout Heralds Reckoning for an American Icon

  • New CEO John Flannery is set to detail turnaround plans Monday
  • ‘The fate of a once great company is on the line,’ says author
Bloomberg business news

Inside GE's $100 Billion Wipeout

Few under the age of 30 might remember, but General Electric Co. was once a model of corporate greatness.

Back in 1999, when Steve Jobs was still fiddling with iMacs, Fortune magazine proclaimed Jack Welch, then GE’s chief executive officer, the best manager of the 20th Century.