George Sarant

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The best CEO in America is Rex Tillerson of Exxon-Mobil. He is a straight shooter who has stuck to his guns on what his company should be doing, notwithstanding pressure to take on projects that have nothing to do with the petroleum industry. The company’s objective, stated simply and forthrightly, is to increase shareholder value. This they have done consistently year in and year out. Tillerson did not make the mistake others did in jumping after alternative energy that is not economically viable. He was not swayed by $140 a barrel oil, realizing that it would be a temporary phenomenon, and has kept the company steadily growing based upon conservative assumptions. As a result earnings continue to grow and the stock is holding up.

The worst CEO is Jeffery Imelt of General Electric. This is a company whose stock has collapsed ten times over to single digits under his leadership. He has allowed MSNBC to become a left-wing propaganda institution, while consistently last in the ratings. He made an idiotic attempt to sell off GE’s lighting and appliance divisions; fortunately there were no buyers. After all what is General Electric without them? Actually it is a poor excuse for an industrial concern; half of its profit comes from its financial operations, which have dragged the stock into a hole, Imelt has also been the first one in line for government handouts, particularly for “green” initiatives. It takes a considerable amount of ineptitude to drive a great, iconic corporation to its current miserable state, but Imelt has managed to do that during his tenure as CEO.


Written by georgesarant

March 9, 2009 at 10:54 PM

Posted in economy

Tagged with ,

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