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June 8th, 2011
09:54 PM ET

Jack Welch on the Rep. Weiner scandal: "His credibility is shot to hell"

Businessman and author Jack Welch was a guest on tonight's live "Piers Morgan Tonight," and the first subject was the Rep. Anthony Weiner scandal. "His credibility is shot to hell," Welch told Piers Morgan. "Can you survive if you don't have credibility and you don't have trust in a public office? I don't know how."

Piers also asked Welch's own scandals of the past. "It's no fun," said Welch.

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  1. Jaime Campos

    Hello Neutron Jack, I love your books on business. Straight from the Gut hits on the nail. What are your thoughts on developing Central America as a solution to fight back China making everything cheaper?

    June 8, 2011 at 10:01 pm | Report abuse | Reply
  2. Judy

    Great interview, Piers. Thanks for reinforcing the need for America to be a part of the global economy . . . hugely lacking ideal with most Americans. And my respect for your interviewing skills is growing. Keep it up!

    Looking forward to the interview with Sarah Ferguson tomorrow night. Sigh! I'm a royal watcher. :-)

    June 8, 2011 at 10:07 pm | Report abuse | Reply
  3. Ray

    Very good interview. But I'm shocked you didn't ask him about his thoughts of corporations like GE not paying any federal income taxes. You dropped the ball on that one, Piers!

    June 8, 2011 at 11:21 pm | Report abuse | Reply
    • diana drake

      Also, would like to know and wish you'd asked Jack Welch to comment on Tata Motors making the 4 seat solid steel Nano Car with it's affordable price ( $2,500 )only available in India and buying from Ford Jaquar/Land Rover, with manufacturing plants in the UK among other places and now gleefully selling the glitzy aluminum cans for all they can squeeze out of the consumers. If the average consumer in the US and UK wasn't spending so huge a portion of his income on personal transportation, there'd be an influx of money into the rest of the economy causing a wave of joyful prosperity,

      June 9, 2011 at 2:32 am | Report abuse | Reply
  4. Angela

    I used to work for GE Long term care insurance. When they took over from AMEX , they gutted the service portion of the business and focused on sales. Bringing in lots of customers, but cutting way back on the Claims department. Surely this was profitable for the stockholders, but a terrible business. That was Jack Walsh's "vision". Screw the customer and the staff for the benefit of short term profitability. He and those he hired, had no interest in caring for the sick and elderly, but was willing to take their money. It was a demoralizing dreadful place to work. The "real effects of Jack Walsh and his ilk can be seen on the ground floor of these businesses.
    Additionally, Apple makes its products in Chinese sweatshops, employing children, evading US labor laws and absolutely horrendous conditions. See "The Agony and the Ecstasy of Bill Gates." for the journalism supporting this one.

    June 9, 2011 at 12:18 am | Report abuse | Reply
    • jack

      This guy is a complete idiot! Your spot on! Jacks answer for the complete failure of the economy,less regulation.
      Jack your a TOOL! How you get your opinion on cnn as a expert just reminds me how stupid we've become as
      a country. You suck, thats my opinion. Jacks gotta go!

      June 9, 2011 at 12:41 am | Report abuse | Reply
  5. ed p.

    this guy is part of the problem in world business! to salivate while talking about all the money walking around china and India, sorry i think he meant PEOPLE. these guys only care about money , and i mean there money and how they can extract more from people less power to protect them selves from these predators. and to mock college professors for doing more for the human race in one month than GE CAPTAL can extract from America is evil! they want to lower America to china"s poverty levels and so they can continue to separate us . they had to sell NBC universal to cover the losses that this guy caused GE cap. more money to fewer and fewer. this guy is really a piece of multi national greedy anti American corp. i hope they give more people like this idiot prime time TV shows so more can see these guys for who they really are ! god help us! in my humble opinion.........

    June 9, 2011 at 12:18 am | Report abuse | Reply
  6. Anastk

    Thank you for speaking up for the millions of U.S. citizens that have lost our jobs, savings, future for our children, and our homes. I'm so tired of hearing that if Wall Street didn't get their bonuses they would have left and gone to foreign banks. For Goodness sakes, let them go. Those banksters will only do to foreign economies what they did to ours with global repercussions. Why do we want to keep those folks.

    June 9, 2011 at 12:30 am | Report abuse | Reply
  7. Wanda Lomprey

    Welch is part of the problem, not part of the solution. Why would you ask someone who is part of taking money from the American people and hurting the middle class and the poor, what his views are on who should be President? Who cares what he thinks? If a Democrat is elected, namely President Obama, it could make him pay more taxes. Of course, he's going to be upset. Sure, he's not with GE anymore, but how much GE stock do you think he still owns? Of course, he wants them to go on not paying taxes. It's un-American and so is he.

    June 9, 2011 at 12:36 am | Report abuse | Reply
  8. Charu P.

    Question for Jack-

    How long America will keep spending money on buying oil? What do you feel should be America policy?
    What are your views on education policy?

    June 9, 2011 at 12:53 am | Report abuse | Reply
  9. Tim

    I'm an ex GE employee. We were a non union electric motor plant in Springfield Mo.. In the early 90's GE corporate decided the motor division needed to be more competetive. In the 80's they closed down several plants and built a a super plant in Reynosa Mexico. GE prospered with the cheap labor until their competetors moved their operations to Mexico. So corporate decided to do a study at our plant looking for things to make us more efficient. After a 2 week study they came up with a plan. GE is loaded with geniuses, Jack Wech is the ultimate. They decided to cut our wages $1.30 an hr. which was a lot of money in the early 90's. So much for providing a college educatio for my kids. What topped it off within a couple of months Jack Welch was awarded a 5million dollar bonus. And another thing Jack was predicting that GE stock would top $100 a share before he stepped down. Unfortunately it was discovered that GE had been using deceptive accounting practises , not unlike ENRON to show a false profit for years. As a result the bottom dropped out and loyal GE emloyees invested in their stock lost 2/3 of their savings. I guess Jack was ahead of his time, profits before people.

    June 9, 2011 at 1:29 am | Report abuse | Reply
  10. Nancy

    Jack is a cute rich old man.
    This is no longer the same world, we bullied other country and kept them starving. The IMF and World Bank were the boneshakers no different to the past. The pendulum has turned and we are still in denial. We are making war in the Middle East instead of befriending them. We let Israel occupy and brutally kill innocent people when they retaliate we call them terrorist. Our country has declined because of our own shortsightedness and illegal support against one group of people over the other. When will we wake up?

    June 9, 2011 at 8:19 am | Report abuse | Reply
  11. Carl White

    I have watched almost every show so far (skipped a few of the fluffier interviews) and I think you are a very good interviewer but not great yet.
    It seems like in almost every interview there is a point where you have me talking to the TV, where you have taken the subject right to where I and I think you want them, where you can ask the question or point out the facts that show the lies or points out the hypocrisy of what they are saying and you let them off the hook every single time.
    Sometimes I sense you are giving them a chance to not look so bad and sometimes I sense that you want them to like you but as a viewer its getting very frustrating.
    I keep saying to myself I have to quit watching this show, I do not need Larry King 2, where every subject looks good and only gives their point of view without fear of being called to the carpet.
    Maybe your bosses will not let you go for the kill or maybe you realize you can not go for the kill because you fear you will not get the guests you want and you simply hope they will hang themselves without looking like you go for the kill. Sarah Palin would call it that lame-stream gotcha journalism.
    I just do not know because I feel that you are smart enough to realize you are doing this.
    And because I know your response would be to give you an example, the show last night with Jack Welch is a perfect example. You asked Jack about people going to jail because of fraud and he responded he does not know enough about it all and not knowing what was right or wrong after just bumbling around trying to blame it on the consumer giving false information and the government when it comes to mortgage fraud.
    At that point I am thinking, yes, Jack has just stepped in to it, a typical capitalist trying to protect his fellow capitalists by blaming it on the consumer and the government when there are books full of proof of all the fraud perpetrated by Wall Street, the mortgage companies and the banks. I am thinking you will go in for the kill and will say “Jack we both know there is all kinds of proof that has been published by journalists and even Congress that shows lots of people should be going to jail and my question would be why are you trying to protect these people” or something to that effect but you just move on and skip the opportunity.
    I will hang in with you for a little while longer but the true respect and your greatest popularity will come when the viewer feels you are sincerely searching for the truth and not simply trying to be a famous TV personality.

    June 9, 2011 at 8:48 am | Report abuse | Reply
  12. RIC1946

    Smug, Arrogant, Pious, The fortunes of time!and, the glory of opportunity! Jack Welch was born into an economy that, was booming! So I wonder, what would a young Jack Welch be doing today. If he were just graduating from college and entering a job market that had no jobs! What would this man of self centeredness do?
    I was surprised you, Piers, didn't ask Mr Welch what he'd do. If he were just graduating from college today! You could do no wrong in a time when opportunity was in abundace and, talent limited! Jack, Jack, Jack, In todays climate, I'd bet you'd be unemployed and disgusted! Yes, What a difference a miellenium makes! In the 1900, America saw great business leaders emerge. Rockefellar, Carniege, Ford, Sam Walton, oh yes, and Jack Welch!! Timing and opportunity. Not, robust and entrepenuer nor wven huge. Jack Welch in my book is a failure to America! He's just a self absorbed brat who can't toot his own horn enough before he moves on! What a loud mouth creep!

    June 9, 2011 at 11:53 am | Report abuse | Reply
  13. A.H. Lin

    Mr. Walsh said he would stimulate the economy by reducing regulation. Later, he said he would have "fired" the Wall Streeet guys who "wrote the bad paper," the lenders who lent when they shouldn't have, etc. How does one control such practices without regulation?

    June 12, 2011 at 3:49 pm | Report abuse | Reply
  14. Marg

    Jack Welch is of the 20th Century. Last I checked we are well into the 21st.

    Typical spin. Blame the folks who bought the houses, never mentioning the banks and lenders.
    Our problems were global and had nothing to do with some smuck buying a house he couldn't afford.
    All that clap has been put to rest as untrue.
    Thanks to you, Nimrod and Jack it's been brought to the forefront again. All talking point were hit.
    And Tim Pawlenty..really....back to the 50's with Nimrod and Jack.

    June 12, 2011 at 4:26 pm | Report abuse | Reply
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    June 21, 2011 at 2:16 am | Report abuse | Reply
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