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A BLAST FROM NEUTRON JACKGeneral Electric CEO John F. Welch isn't just hard-nosed with union officials: Everyone at GE gets the same treatment. He made that clear at a January managers' gathering in Boca Raton, Fla., where a 45-minute videotape was made of his remarks. In fact, many GE employees are still upset about Welch's attack on what he called ''C'' managers, which created fear and uncertainty. Don't bother trying to make them into ''B'' or ''A'' employees, he lectured. That's ''a wheel-spinning exercise. Push C's out the door to B companies or C companies,'' he said. GE is an ''A-plus company'' that can get anyone it wants, said Welch. ''Shame on any of you who aren't facing'' up to the mediocre performers: ''Move 'em out early,'' he told his operating managers. Welch is just as harsh about entire operating units. For instance, he praised recent GE Capital Corp. acquisitions but said some ''aren't so pretty.'' GECC's challenge ''will be to get in and do some of the fix or sell activities that have to be done.'' Welch did not specify on the tape the units he meant. But Employers Reassurance Corp. has been rumored to be for sale. Four other units are underperformers, analysts say: trailer leasing, truck leasing, a leveraged-buyout financing operation, and a muni bond insurer called FGIC.
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Updated June 15, 1997 by bwwebmaster
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