BUSINESSWEEK ONLINE : DECEMBER 11, 2000 ISSUE
COVER STORY

Low Points


The Welch era was not without flaws. GE has suffered major setbacks and scandals, from criminal indictments relating to military contracts to ongoing battles with environmental groups. Until recently, New York's fabled River Cafe would not serve top GE execs because of PCB contamination in the Hudson River that many blame on the company. Indeed, regulators will soon rule on whether GE will have to pay to dredge the river. Even more damaging to GE: the 1994 bond-trading scandal at Kidder, Peabody & Co. that led to huge losses and the dismantling of the investment bank Welch bought in 1986.



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