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Coming up this evening at 9 p.m., "Piers Morgan Tonight" welcomes business executive and author Jack Welch for his unique blend of financial insight and political commentary.
Joining Piers Morgan for a face to face interview, the former Chairman and CEO of General Electric offers his opinion on the state of the race for the White House, suggesting that Mitt Romney is uniquely credentialed for the job:
"He ought to tak about his qualifications, and private equity gives him incredible breadth of qualifications, along with being governor of a state and other things," says Welch. "But I mean, without question, the idea of being embarrassed because you're in private equity, is the silliest argument in the world."
As the Romney-founded Bain Capital continues to surface as a campaign topic, Welch allows that the former Massachusetts governor may have made a strategic error:
"I think making the job creation argument was not the smartest case to make," says the guest. "But creating jobs that last, durable jobs, in a forward – quote – economy, that's what private equity does."
Watch the clip, and listen to the interview, then tune in this evening at 9 p.m. as the 76-year-old Bostonian uses his distinctive accent to ask the host: "When am I not honest!?"
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Jack Welsh used immoral techniques in order to get people in companies he worked with to push others out: by asking people to choose the weakest person in a group, but he asked several people. This forced people to rat on each other and fired thousands of people this way. Secondly, to ask a man who works at the same company for a critic of Mitt Romney, a man who is his cheerleader questions like you do is just plain dumb. Piers...please. Your job is to make things which are important interesting. You are allowing people to make things of importance either trivial or cartoonish. I try to like your work, but you have some weaknesses. The best question you gave Jack is what has Obama done right...you saw him go silent. I wish I could admire your interviewing talent, but Mr. Welch is a charming shark. He did nothing more than bad mouth the President, and was unwilling to say one positive thing. If I want that I can watch Fox, and not you. Wise up because what you are doing is dangerous. To your credit you brought the right argument about socially intelligent capitalism. Flipping companies and sucking their liquidity out for investors killed a number of Romney's failures....what about breaking the retirement funds and then declaring bankruptcy? Jack did not mention that did he? Neither did you!! Shame on you both!
President Obama has done NOTHING right, ergo the silence of Jack Welch. He does NOT know how to lead. A leader brings people together and gets them working towards a vision. He is the Great Divider. He does not know how to negotiate. He does not know how to compromise. He knows nothing about economics and business. In summary, President Obama had no relevant experience going into the top position in the USA and has not gained enough skills or shown how to bring people together to keep his current position. I thought that he was going to be an OK president. My opinion now is that he is the worst president since Richard Nixon!
Greatest guest you have had this year! Have folks like him more often and watch your ratings soar. Brilliant guy who can articulate the problem and the solution far better than most!!
Did I just hear Mr. Welch admit that job creation is not the goal of private equity? OK fine if it isn't. Just don't pretend that it is as Mr. Romney wants to portray. News flash for Mr Welch-We are not sooo grateful to mega businesses shipping buiness and jobs overses to make even more mega profits so they can give more to charities in this country. WE WANT THE JOBS, NOT THE CHARITY11111
Doris
Though I agree with Jack Welch that successful private business creates opportunity for jobs, I think Piers Morgan was too kind to Welch about avoiding the real issue.
No one faults business management for taking the big chunk of the wealth in our society – Our objection is toward the 3% who take excessively while the rest of humanity just survive or whose income only allows for a 2 week yearly vacation.
All, work hard and to their potential and all should share adequately in the resources generated.
Investment Design and Tax Structures favour the affluent, and therefore there is a need for change.
All great enterprise has materialized because of the hard work of EVERYONE!
Mr. Welch said you can't give from an empty wagon.... to that I say poor and middle income families do it all the time, when we donate to victims of natural disasters or 10% to churches or $2 to campaigns, but many in the 1% feel they have to amass millions before they can give. I'm sure he didn't object to taxpayers bailing out wall street.
People like this don't have a social conscience.
Though I agree with Jack Welch that successful private business creates opportunity for jobs, I think Piers Morgan was too kind to Welch about avoiding the real issue.
No one faults business management for taking the big chunk of the wealth in our society – Our objection is toward the 3% who take excessively while the rest of humanity just survive or whose income only allows for a 2 week yearly vacation.
All, work hard and to their potential and all should share adequately in the resources generated.
Investment Design and Tax Structures favour the affluent, and therefore there is a need for change.
All great enterprise has materialized because of the hard work of EVERYONE!
My friends from China will tell me about the "hidden rules". I just point to Mitt Romney. The guy moved money. Just like his name says. He managed a fund of money. He found these shell companies and he set up a shield for his fees, for his control to loot. He levered them up and he filled up his bank account. The creditors, taxpayers, employees, communities, owners, we payed this guy to loot our money and jobs. Simple as that. Call it whatever you want LBO, whatever. Mitt moved money from the community to his Swiss bank account.
And now he has Fox Nation and multi-millionaires to lie for him. He even has a Fox Lite at CNN. You all got to play balance! So every night we get Team Republican and their b.s.
LONDON (Reuters) – One of Britain’s most respected journalists said on Wednesday that former tabloid newspaper editor Piers Morgan showed him how to hack into phones 10 years ago, the latest twist in a scandal that has so far centred on Rupert Murdoch.
If your guest, Jack Welch is to be a spokeman for Mitt Romney, he will need training wheels. It's obvious that republicans with integrity or character are in very short supply...this guy clearly revealed the lunacy that has taken over the GOP. He came across as unprepared, clumsy and undisciplined; a truly grueling interview.
An excellant interview, Piers.
Regarding the economic recovery, Mr. Welch commented, about President Obama,"He's not doing it fast enough."
I've been to NYC numerous times so I know about the fast pace rat race.
Alot of Americans have never traveled to the upper east coast to experience the reality.
This interview presented what our country has turned into and he does not even realize it.
Jack Welch minces no words. He told the truth . Poor Piers appeared flummoxed.
Piers needs so much help understanding how our economy works , or SHOULD work , if we did not have Obama at the helm.
Thank godness for people like Welch, who can try to explain things to the hapless Piers.