jack welch management institute, one of your new projects. 't the smartest guy in the room. a lot of the time, you probably were, jack. what i liked about you was the simple philosophy you brought to your business. having read your books. i'll read you some of the famous things you came out with. creating great people will make a great company. shareholder value is the dumbest idea in the world. i want people who dream, and i want people who sweat. are we getting enough of this ideology at the moment in america? >> i think we are. i think we're getting a lot of the latter. we're getting a lot of dreamers out there now in small companies. the recession in many ways, piers, created a lot of entrepreneurs. they couldn't go to -- when i was teaching at m.i.t., i had a class of 40 people. 23 of them had already started companies. that's something -- now we have immigration policy that's ridiculous. we throw people out. we educate them. then kick them out. we ought to give them a green card and a big check if they're here for a certain period of tim

it's over. >>> i mean, jack welch, jack nicholson, hard to tell the difference. >> no it isn't.my big moment. >> tell me about your new online venture. >> we got a school called the jack welch management school. it's at chancellor university which is a small school in cleveland and we have an mba program and certificates where we're teaching people how to lead, 000 manage. we have four certificates. the first one which we just started is how to be a new leader. i wrote the course myself with another person. >> that's quite interesting. someone was just tweeting. i liked this question. if you were running a fortune 500 today what current ceo, remove steve jobs from this, would you hire to run a business? >> you got to say that the ceo at ibm has done an incredible job. >> best businessman in the world right now. >> one of them. there's been some. >> who has been so inspirational of all the business people you've met? >> not one. and i think anybody who looks at one person as a leader is wrong. everyone has something special. somebody can teach you how to do this better. everyone,

it's over. >> i mean, jack welch, jack nicholson, it's hard to tell the difference. >> no, it isn't.>> it was my big moment in the sun, i'll tell you. >> tell me about your new online venture. >> we've got a school at chancellor university, which is a small school in cleveland, and we've got an mba program and certificate where is we're teaching people how to lead and manage. we have four certificates. the first one we just started is how to be a new leader. i wrote the course myself with another person. >> i like this question here. neutron jack, if you were running a fortune 500 today, what current ceo, remove steve jobs from this, would you hire to run a business? >> you've got to say that sam pompsano at ibm has done an incredible job. >> best businessman in the world right now? >> one of them. >> who's been to you the most inspirational over all the years, all the business people you've met? >> not one, and i think anybody who looks at one person as a leader is wrong. everyone has got something special. somebody can teach you how to do this better. you can learn from everybody.

jack welch is the cutest little old dude ever. he's so smart, i could watch him all night. feel about being a cute old dude, jack? >> i don't like the old part of it. >> we have some more here. this is from tam on facebook. how do you fix detroit? is it on its way to being fixed? >> i think it's on its way to being fixed, and i think you see that every day in the car figures where they're competing very effectively with the japanese and korean imparts, although the koreans are getting very strong. >> i wasn't aware of this as we have been doing the interview. how did you overcome what was a crippling stutter? >> my mother told me, god bless my irish mother, she made me feel 6'4" with hair, too, but she told me every day, jack, your mind just works too fast for your tongue, you're too smart, and i believed her. >> she made it a positive. >> she made it positive. i was speaking at m.i.t. is week ago and a young man in the audience took the mike. there were 1200 people in the auditorium and he couldn't speak. he couldn't speak. and he is just -- i said, look at me, come on, lo

>> question, is jack welch's jockeying for a cabinet position pawlenty presidency?laughter] >> can't ask with a straight face. >> i think not. and when president reagan was in the white house, marginal taxes were at 70%. it's lowest point since 1950 today. there's a plan that eliminates the capital gains tax, it eliminates the estate tax. it's a huge handout to the upper income of the corporate interests. of course they're going to be cheering. but if doesn't produce the 5% growth, then what? i don't think he'll get to the white house to prove his plan, but i think it should be exposed for what it is. it's -- >> giving away cancan i did. >> can we talk about the percentage of federal spend that pawlenty wants this government to bear, which is 15% versus obama's 18%? >> obama has 25% and 18. i don't think you can get down to 18, given the entitlement program. >> why? >> if you aim for 18, maybe you end up at 20 some it's the right goal. and he is taking on entitlement is and bloc grant, medicaid, raise the retirement age on social security, means test social security

jack welch, the former ceo of general electric. now, the argument that companies should be running the show of interest may have made actually more sense in the old days when companies are basically owned by a small number of people if not singularly individual but that stay in the system where oldest companies have limited liabilities and have dispersed owned by hundreds of thousands of people in this system despite being the legal owners most shareholders are actually the least committed to the long-term future of the company because they are free to me. in contrast, other stakeholders in the company like the employees, the suppliers, the local community, they cannot leave the company and not in the literal sense because people like suppliers do not literally be on to the company but they cannot leave the company in the sense that easily. if you've been supplying and suddenly you want to switch to it is not that easy whereas you can send it with a click of your mouse. this has made to shareholders short-term shareholders very imp

former general electric ceo jack welch says that scenario is available.ier he spoke to piers morgan. >> we're muddling along. we're not going to double dip in my view. there's too much liquidity out there. we don't have a vision of where we're going. in order to lead a country or a company, you've got to get everybody on the same page and you've got to be able to have a vision of where you're going. if america had a strategy of being the -- a highly competitive, successful, winning enterprise and you put everything through it, you wouldn't have this uncertainty. >>> all this week we've been taking you inside the cloud, a pleasant name for what technology types say is a revolution in computing. the cloud refers to remote servers that will store all of your applications and data so you don't have to do so. the idea is to enable you to access business and computing applications as well as entertainment programming and communicate from any device anywhere in the world. major technology companies such apple, microsoft, google and amazon are leaping head first

jack welch yesterday, dating today. yeah, i don't think any man would come near me.ause you've got to put up with a lot of press and attention. >> i think they could. you're what we call a good

. >> but call me -- when you hear leading republicans, these are serious people, rudy, jack welch, sarah palin, others, serious figures, all saying come on, mitt romney, if you only just backed off romney care, backed off trying to create some impression that this is completely different to the obama thing, then we could be more supportive. because the problem's going to come. and it's blindingly obvious what's going to happen. all the other republicans want to hammer obama over obamacare next year in the election campaign. how can they do that if you're the guy they're going to support? >> the great news is that when i finally debate president obama it will be wonderful because he won't be able to say i'm some heartless republican that doesn't care about people. he'll say i was the inspiration for what he did. and i'll say, mr. president, how come you didn't call? how come you didn't ask me about your plan? because it will not work. >> you don't have to talk -- >> it will bankrupt america. >> what republicans want you to do is express some regret over romneycare. >> piers -- >> do you h

jack welch yesterday, dating today. yeah, i don't think any man would come near me.th a lot of press and attention. >> i think they could. you're what we call a good egg, i think is what we would say in britain. you've always had a great heart, a warm, generous person. anyone who doesn't really understand the unique pressures of being a member of the royal family and coming into what you did, doesn't understand what you went through and i do and i think you are coming out the other end and i wish you the best. >> thank you, piers. thank you very much. >> nice to see you again. >> that's it for us tonight.

jack welch yesterday, dating today. yeah, i don't think any man would come near me. you've got to put up with a lot of press and attention. >> i think they could. you're what we call a good egg, i think is what we would say in britain. you've always had a great heart, a warm, generous person. anyone who doesn't really

jack welch, dating today, but, yeah, i don't think any man would come near me though, because as i'veid you've got to put up with a lot of press and attention. >> and i think they should. you're what we call a good egg, i think, is what we would say. you've always had a great heart and you're a very warm generous

jack welch, dating today, but, yeah, i don't think any man would come near me though, because as i'veth a lot of press and attention. >> and i think they should. you're what we call a good

i agree with jack welch. he talked about how we can fix some things in our country.said we have to run it like a business. a business is suffering if they have more debt than revenue. they have to figure that out, or they will go out of business. point two, we need to get out of these wars and stop these engagements with these countries. three, we need to significantly reduce our reliance on foreign oil. we have the technology. have for years. i hope things improve in our great country. host: thank you. front page of "the new york times" above the fold. "democrats continue to press for part of the $2 trillion in savings to come from moves like phasing out some tax breaks, which republicans have said repeatedly they will not do." cynthia has this point. host: pete is joining us on the line for republicans from georgia. good morning. what is your take on all of this? caller: good morning. thank you for c-span. i believe taxes are poison. they are poison to the capitalist free enterprise system. that's what america is built on. people who cannot stand financial success

jack welch, former c.e.o. of g.e., on, and i thought he made a number of valuable points. he is a very, very -- he's very, very worried about our economy. he believes that we are facing serious troubles and we need to take action to do something about it. but as a corporate leader of great renown, one of the more respected corporate leaders, i guess, in america at this time, and he evidenced a real frustration at the lack of leadership this administration is showing with regard to our financial crisis. and he said a number of things. one of them was classic leadership, classic thought by a manager, a man who's managed a very large corporation worldwide with many, many, many moving parts, and he said that you have to have a strategy. and we have no strategy. and i think that's correct. that's -- i don't believe the american people sense that this country is able to articulate a serious strategy to confront the difficulties with which we are dealing now. and he said, you should basically -- and it's, i guess, c.e.o. language, good manager language -- he said that everything