# Jack Welch: pure projection? **URL:** \ **Category:** Politics & Elections\ **Created:** [October 6, 2012, 8:46pm UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936 "2012-10-06T20:46:46Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![bengangmo](https://avatars.discourse-cdn.com/v4/letter/b/50afbb/32.png) [@bengangmo](https://boards.straightdope.com/u/bengangmo)\ **Post date:** [October 8, 2012, 1:43am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/21 "2012-10-08T01:43:59Z")
> [@dropzone](#): > > And would he be caned if he lost? Because I’m all over that! nah - just bankrupted 😃 I’d hate to see debate curtailed as much as it is here. But some days when I read the crackpot news that is reported I do think that in some aspects, Singapore has taken a good approach. ---
**Author:** ![elucidator](https://avatars.discourse-cdn.com/v4/letter/e/8edcca/32.png) [@elucidator](https://boards.straightdope.com/u/elucidator)\ **Post date:** [October 8, 2012, 1:51am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/22 "2012-10-08T01:51:34Z")
Isn’t that the place where they execute you for chewing bubble gum? ---
**Author:** ![bengangmo](https://avatars.discourse-cdn.com/v4/letter/b/50afbb/32.png) [@bengangmo](https://boards.straightdope.com/u/bengangmo)\ **Post date:** [October 8, 2012, 1:58am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/23 "2012-10-08T01:58:38Z")
> [@elucidator](#): > > Isn’t that the place where they execute you for chewing bubble gum? YEP 😃 And it’s a law I support - seeing people chewing gum looks (and sounds) like someone chewing their cud. ---
**Author:** ![JRDelirious](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jrdelirious/32/9531_2.png) [@JRDelirious](https://boards.straightdope.com/u/JRDelirious)\ **Post date:** [October 8, 2012, 1:12pm UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/24 "2012-10-08T13:12:45Z")
> [@elucidator](#): > > You could fuil a library wall with **auto** biographies written by men such as he, and the themes than unite them all are virtue, hard work, bold innovation, and vision. And modesty. Some modesty, at any rate. (bolding mine) Well played, sir. But wouldn’t that rather support the Ghost Writer rather than Great Man Theory 🆒? ---
**Author:** ![ElvisL1ves](https://avatars.discourse-cdn.com/v4/letter/e/5daacb/32.png) [@ElvisL1ves](https://boards.straightdope.com/u/ElvisL1ves)\ **Post date:** [October 8, 2012, 6:45pm UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/25 "2012-10-08T18:45:34Z")
> [@bengangmo](#): > > YEP 😃 > > And it’s a law I support - seeing people chewing gum looks (and sounds) like someone chewing their cud. _The gum-chewing kid and the cud-chewing cow Are somewhat alike, yet different somehow. And what is the difference? I think I know now. It’s the clear, thoughtful look on the face of the cow._ - Ogden Nash Here’s another vote for caning Jack Welch. 😉 ---
**Author:** ![MOIDALIZE](https://avatars.discourse-cdn.com/v4/letter/m/e274bd/32.png) [@MOIDALIZE](https://boards.straightdope.com/u/MOIDALIZE)\ **Post date:** [October 8, 2012, 7:05pm UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/26 "2012-10-08T19:05:54Z")
> [@Measure\_for\_Measure](#): > > Well, yes they were. Jack Welch’s GE aggressively practiced “[Earnings](http://lawprofessors.typepad.com/legal_profession/2008/04/is-jack-welch-o.html) [management](http://www.investopedia.com/ask/answers/191.asp#axzz28fHwdpEM)”. They liked earnings to be smooth and rising. Unfortunately, that’s not something that happens naturally. So they would routinely buy and sell businesses and conduct other accounting maneuvers before quarterly reports in order to book or postpone profits. GE was known for juuuuuuuuuust beating analysts’ earnings forecasts, every single quarter. Check out what happened [after Welch left.](http://www.ritholtz.com/blog/2012/10/ges-jack-welch-on-bls-book-cooking/) ---
**Author:** ![Measure\_for\_Measure](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/measure_for_measure/32/557_2.png) [@Measure\_for\_Measure](https://boards.straightdope.com/u/Measure_for_Measure)\ **Post date:** [October 8, 2012, 9:29pm UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/27 "2012-10-08T21:29:50Z")
> [@MOIDALIZE](#): > > GE was known for juuuuuuuuuust beating analysts’ earnings forecasts, every single quarter. > > Check out what happened [after Welch left.](http://www.ritholtz.com/blog/2012/10/ges-jack-welch-on-bls-book-cooking/) Fans of snark and jaw-dropping charts should click MOIDALIZE’s link. Chart: [http://www.ritholtz.com/blog/wp-content/uploads/2012/10/GE-earnigns.jpg](http://www.ritholtz.com/blog/wp-content/uploads/2012/10/GE-earnigns.jpg) h/t: Paul Krugchulu ---
**Author:** ![Fiddle\_Peghead](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fiddle_peghead/32/3506_2.png) [@Fiddle\_Peghead](https://boards.straightdope.com/u/Fiddle_Peghead)\ **Post date:** [October 9, 2012, 2:04am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/28 "2012-10-09T02:04:22Z")
> [@adaher](#): > > I don’t think Obama put pressure on BLS, but I dispute that it would be an election blowing scandal if he did. That implies that the mainstream media would make it a scandal, which they wouldn’t. Oh, of course they would. The story would be huge. Get a grip. ---
**Author:** ![adaher](https://avatars.discourse-cdn.com/v4/letter/a/dec6dc/32.png) [@adaher](https://boards.straightdope.com/u/adaher)\ **Post date:** [October 9, 2012, 2:09am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/29 "2012-10-09T02:09:39Z")
Ah yes, just like the continual manipulation of the ACA to serve political ends is reported. ---
**Author:** ![Fiddle\_Peghead](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fiddle_peghead/32/3506_2.png) [@Fiddle\_Peghead](https://boards.straightdope.com/u/Fiddle_Peghead)\ **Post date:** [October 9, 2012, 2:11am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/30 "2012-10-09T02:11:30Z")
> [@adaher](#): > > Ah yes, just like the continual manipulation of the ACA to serve political ends is reported. I’d love to hear all about this. ---
**Author:** ![elucidator](https://avatars.discourse-cdn.com/v4/letter/e/8edcca/32.png) [@elucidator](https://boards.straightdope.com/u/elucidator)\ **Post date:** [October 9, 2012, 2:23am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/31 "2012-10-09T02:23:16Z")
You just did. That’s the Romnulan style. ---
**Author:** ![adaher](https://avatars.discourse-cdn.com/v4/letter/a/dec6dc/32.png) [@adaher](https://boards.straightdope.com/u/adaher)\ **Post date:** [October 9, 2012, 2:24am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/32 "2012-10-09T02:24:10Z")
But you won’t, because the media won’t report it. We’ve discussed the Medicare Advantage cuts being delayed until after the election, despite the fact that the administration had no legal authority to do so. And although it’s not the ACA, the administration also has no legal authority to reimburse corporations that fail to issue WARN notices should they get sued. They don’t even have the money, the amount of liability we are talking about would require a Congressional appropriation. Back to the ACA, there’s also the little problem of states not setting up exchanges. If the federal government sets it up for them, under the ACA, citizens in those states aren’t eligible for subsidies, nor are citizens subject to the mandate. THe law was specifically designed this way, it wasn’t a mistake. The administration wants to ignore that part of the law since most states are either unable or unwilling to set up their own exchanges. ---
**Author:** ![waterj2](https://avatars.discourse-cdn.com/v4/letter/w/858c86/32.png) [@waterj2](https://boards.straightdope.com/u/waterj2)\ **Post date:** [October 9, 2012, 2:31am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/33 "2012-10-09T02:31:58Z")
> [@MOIDALIZE](#): > > GE was known for juuuuuuuuuust beating analysts’ earnings forecasts, every single quarter. > > Check out what happened [after Welch left.](http://www.ritholtz.com/blog/2012/10/ges-jack-welch-on-bls-book-cooking/) I think Jack Welch just understood the implications of the idea that a corporation’s purpose is to maximize shareholder value better than most. Although he’d later say that “on the face of it, shareholder value is the dumbest idea in the world,” he was famously gifted at hitting his earnings targets almost perfectly. [But what is that game, really](http://www.forbes.com/sites/stevedenning/2011/11/28/maximizing-shareholder-value-the-dumbest-idea-in-the-world/)? > [@](#): > > Imagine an NFL coach holding a press conference on Wednesday to announce that he predicts a win by 9 points on Sunday, and that bettors should recognize that the current spread of 6 points is too low. Or picture the team’s quarterback standing up in the postgame press conference and apologizing for having only won by 3 points when the final betting spread was 9 points in his team’s favor. While it’s laughable to imagine coaches or quarterbacks doing so, CEOs are expected to do both of these things. ---
**Author:** ![elucidator](https://avatars.discourse-cdn.com/v4/letter/e/8edcca/32.png) [@elucidator](https://boards.straightdope.com/u/elucidator)\ **Post date:** [October 9, 2012, 2:39am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/34 "2012-10-09T02:39:53Z")
> [@adaher](#): > > But you won’t, because the media won’t report it. We’ve discussed the Medicare Advantage cuts being delayed until after the election, despite the fact that the administration had no legal authority to do so… Well, how come nobody sued? I mean, if he’s so obviously legally wrong, why isn’t somebody rubbing his nose in it in Federal court? Is it because he has no enemies? ---
**Author:** ![adaher](https://avatars.discourse-cdn.com/v4/letter/a/dec6dc/32.png) [@adaher](https://boards.straightdope.com/u/adaher)\ **Post date:** [October 9, 2012, 2:58am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/35 "2012-10-09T02:58:25Z")
No one has standing. I’m not saying that what he’s doing is impeachable, nor can it be overturned in court. But a media doing it’s job would make it into a political problem. But the administration knows that they can be pretty brazen and only the right-wing media will raise a stink. What Congress actually did in response to the MEdicare Advantage issue was request a GAO report on the “pilot program” Obama set up to delay the cuts until January. GAO of course reported that the pilot program was completely useless, they released their report to the press, and the press decided that Romney’s taxes were more important. Heck, people getting killed and the administration lying about it is of little interest to the press. I doubt they’d be interested in mere manipulation of government statistics. ---
**Author:** ![BrainGlutton](https://avatars.discourse-cdn.com/v4/letter/b/82dd89/32.png) [@BrainGlutton](https://boards.straightdope.com/u/BrainGlutton)\ **Post date:** [October 9, 2012, 5:55am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/36 "2012-10-09T05:55:18Z")
> [@JRDelirious](#): > > (bolding mine) Well played, sir. > > But wouldn’t that rather support the Ghost Writer rather than Great Man Theory 🆒? No, the Ghost Rider theory. Nothing fires up the staff like a good Penance Stare. ---
**Author:** ![BrainGlutton](https://avatars.discourse-cdn.com/v4/letter/b/82dd89/32.png) [@BrainGlutton](https://boards.straightdope.com/u/BrainGlutton)\ **Post date:** [October 9, 2012, 5:57am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/37 "2012-10-09T05:57:57Z")
> [@waterj2](#): > > I think Jack Welch just understood the implications of the idea that a corporation’s purpose is to maximize shareholder value better than most. Although he’d later say that “on the face of it, shareholder value is the dumbest idea in the world,” he was famously gifted at hitting his earnings targets almost perfectly. [But what is that game, really](http://www.forbes.com/sites/stevedenning/2011/11/28/maximizing-shareholder-value-the-dumbest-idea-in-the-world/)? Apparently a highly elaborate form of [Texas sharpshooting.](http://en.wikipedia.org/wiki/Texas_sharpshooter_fallacy) ---
**Author:** ![John\_Stamos\_Left\_Ear](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/john_stamos_left_ear/32/3198_2.png) [@John\_Stamos\_Left\_Ear](https://boards.straightdope.com/u/John_Stamos_Left_Ear)\ **Post date:** [October 9, 2012, 8:27am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/38 "2012-10-09T08:27:17Z")
[Jon Stewart weighed in on this one](http://www.thedailyshow.com/watch/mon-october-8-2012/the-gripes-of-math)… As usual, pretty spot-on. _(Note that the URL isn’t working, I assume because it has not been fully uploaded yet. Hopefully it will work soon. I saw the clip on my actual television - shocking, I know…)_ ---
**Author:** ![Disgruntled\_Penguin](https://avatars.discourse-cdn.com/v4/letter/d/a8b319/32.png) [@Disgruntled\_Penguin](https://boards.straightdope.com/u/Disgruntled_Penguin)\ **Post date:** [October 9, 2012, 10:05am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/39 "2012-10-09T10:05:09Z")
> [@adaher](#): > > No one has standing. I’m not saying that what he’s doing is impeachable, nor can it be overturned in court. But a media doing it’s job would make it into a political problem. But the administration knows that they can be pretty brazen and only the right-wing media will raise a stink. So, it’s the press’ job to turn an unimpeachable unoverturnable act of the president into a political problem for him? Really? Their job? I’m all for reporting the illegal stuff but you’re not saying that the media is partisan but that it’s not doing it’s job by not being partisan and creating political problems out of non issues. I get it, but I don’t concur. That’s the job of the bloggers and message board professionals ( and I’m glad these exist on both sides ) not the mainstream media which should concern itself with reporting the facts, not creating the problems. ---
**Author:** ![pseudotriton\_ruber\_ruber](https://avatars.discourse-cdn.com/v4/letter/p/a9a28c/32.png) [@pseudotriton\_ruber\_ruber](https://boards.straightdope.com/u/pseudotriton_ruber_ruber)\ **Post date:** [October 9, 2012, 10:11am UTC](https://boards.straightdope.com/t/jack-welch-pure-projection/636936/40 "2012-10-09T10:11:53Z")
Besides, is Fox News crippled or something? Why are they so tame? And if you’re going to argue that they’ve been on top of the story, how come the FACTS they’re reporting on have evaded the mainstream media? Because there aren’t any? [Previous page](https://boards.straightdope.com/t/jack-welch-pure-projection/636936.md?page=1) [Next page](https://boards.straightdope.com/t/jack-welch-pure-projection/636936.md?page=3)