Jack Welch Tells GE (GE) to Start Looking to win Again

Former General Electric (NYSE:GE) CEO Jack Welch is back in the headlines again, rightly exposing the dubious strategy of current CEO Jeffrey Immelt and his fixation on so-called "green" businesses.

In an article in the Tulsa World, Welch said, “If it doesn’t turn green into green, it doesn’t turn out to be a helluva good business. The whole idea is to grow jobs,” adding, “The main social responsibility for a company is to win.”

Many businesses still don't get it. In an attempt to fall over themselves to look good to the media, they continue to make all sorts of stupid decisions, especially on many things that are far from being green, even though the public perceives them to be. One obvious example is the poisonous flourescent light bulbs being forced on the public. Another is the wind turbines touted as alternative energy, even though just one field of them will kill far more fowl and bats than was killed in the entire BP (NYSE:BP) fiasco.

I guess chopped up birds are more green than a few oily birds, which make good photo ops for photographers.

Welch added in the article, “We played business like it was a sport. You make a game of it; you field the best team and weed out the weakest. The weeds you’ve got to pull out if you’re going to build a beautiful garden.”

The truth about business is if it were to stick to its purpose, much of the problems associated with social and economic problems would be solved.

As far as Jeffrey Immelt and the current direction of General Electric, they could be headed for disaster, as the risk associated with programs dependent on the government is much larger than most shareholders and investors know, and they are extremely vulnerable to cutbacks or dropping of programs altogether.

The obvious conflict of interest of Immelt accepting the appointment by Obama to head up his business committee is outrageous. It could also backfire, as any government money or benefits awarded to GE could raise numerous red flags and media nightmares when competitors call foul, which they have every right to.

Businesses need to get out of this "green" nonsense and focus on making money. When they do that right, the capital will be available through non-profit giving to take care of the environmental and other concerns.

General Electric closed Wednesday at $20.32, gaining $0.07, or 0.35 percent.