we reached out to jack welch for a comment., quote, jeff brought his best every day for 16 years. i wish him the very best in the many good years he has ahead and this is big news in corporate america this morning lots of questions now, of course, about what john flannery will do with the company whether he'll decide to ultimately break it up, the stock obviously up this morning, and of course the other big question is how this all happened what kind of pressure was on the board of ge. obviously peltz was there with trian and working behind the science on this, as well >> it's very interesting, in terms of what flannery made do, we did speak with an analyst who talked about some of the things that he might do like spinning off the health care division. >> right >> john flannery has been running and running very well. that's been speculated about quite a bit the idea that this is not necessarily something that has a lot in common or a lot of synergy with some of the other areas, so maybe that would be an ipo or something that wo

i think there are things that immelt could have done first of all, in fairness to jack welch we don't done if he had stayed on through this. maybe he would have pulled the rabbit out of the hat and immelt had a lot of problems. but i think he was too steeped in the welch era, they were too slow to begin to repudiate that model and back away with it. now, they have started doing a fair amount. streamlining the company they pretty much did reject the welch thing. but everyone said they should have done it years sooner. >> what do you know about flannery who ran the health care business and his leadership style and track record >> maybe this is my bias, i'm a journalist one thing that caught my eye -- he's an avid reader and i said, good i think avid readers, they tend to be smarter. they can -- they learn things quickly. i think he sounds good you know, his promise of a review of all the businesses has people very excited that he's going to accelerate this rethinking and reshaping of the corporation. it's going to separate the things that don't belong together. >> yeah. we'll be watchin

the era of the long-time 30-year ceo like jack welch is over.s, they don't work for board. they work for the shareholder. >> neil: thank you, my friend. let the hair comment go. all right. that would be charlie gasparino. all right. we're finding out more and more in london on that attack. just how much more. that's disturbing. after this. moment turns romanti? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. >> neil: all right. london police say another arrest in relation to the london bridge attack. lon

you think about what ge did under jack welch. they were able to grow. hings. jack was and is in his mid-40's when he took over the company. he was not a different age then but he was more mature, more seasoned, equally creative. it's possible even in a big company like general electric, you can do some of the wonderful things we see a companies like uber. david: ok, professor. that is david yoffie from harvard business school. if you have a bloomberg terminal, you want to check out tv . you can interact by sending out messages we will read. on your tvtv terminal. this is, after all, bloomberg. ♪ david: this is bloomberg. i am david westin. attorney general jeff sessions was supposed to be going to l tomorrow to talk about the justice department budget, but he needs toays address the russian investigation and james comey's testimony so he will go before the senate intelligence committee to do that. in his testimony, comey said that they have learned something about sessions that would make his continued investigation into a russian investigation

jack welch did a bake i don't have. jane mcnerney was one.b nardelli. >> david cody had some interest. >> ad some interest. those were the three main once. the question was the best guy of those three. i, i would have liked to see, the guy with the vowel at end of his name. you know. you know,. neil: bossidy. >> bossidy was too old. >> marino couldn't save him. >> jack welch, called him the guy with vowel at end of his name, called him the best operational manager. i am moment had the flair. probably should have picked him. should have picked nardelli. >> cod today shoulda. jeff immelt is like. neil: does he golf. >> he does golf. trump said he hit a hole-in-one with immelt or something when they were in the white house. neil: he did. >> that is code for something. >> i should say president trump. i apologize. >> i call him donald. >> i call him president trump. neil: he is audited as a result. just kidding. that was a very poor joke. >> i should say last week you spoke on behalf of all republicans, democrats and independents -- neil: what di

when they lose confidence, they op and finally, jack welch is always going to be a tough act to followhe had a couple of bad things going his way, 15, 16 years later. this is what happened. >> was it the economic times that did in ge and jeff immelt. or him, what he did to the company? >> and he did have some challenges, a financial crisis, obviously, ge in the middle of it couldn't roll their commercial paper. stuart: they were a financial company during the crisis. >> i think maybe if we want to say, i know it's been not the run that investors wanted, certainly not what the jack welch era was, but one thing that's nice, here is an executive who did learn from the financial crisis and decided he didn't want to be a too big to fail company anymore and didn't want ge to be that way and they've become a more focused company and i know it's been rough on shareholders at times, but taxpayers, i think you've got to appreciate that somebody didn't want that federal safety net and changed his company. stuart: well, there are people buying it right now on the expectation that it bounces back,

office center we'll have to wait and see as we get to know him better that's the kind of role that jack welchlayed and has always played for decades throughout its history being the leader in public opinion of the business community. i hope they continue in that role and i hope they start delivering more value in the next five to ten years i don't think long tenure serves them well. jack did well 30 years a shorter tenure makes more sense and then give some signals about it >> bill we want to get to the stock reaction we do have more leadership for more to expect for ge stock price let's bring in jpmorgan analyst. steven how much of a game changer is this leadership change for the stock >> yeah, sure. thanks for having me first of all, i think at a high level a lot like the ge capital breakup felt a couple of years ago though significantly less transformative that one was basically waking up people who hadn't really looked at the stock because of the finance business, allowing them to, you know, get involved a lot of guys who were underweight the stock covered significantly thinking there was

the stock has underperformed the rest of the market over the past year so you might remember jack welchas his predecessor, the company got bigger and bigger and he has been selling and downsizing and changing sort of the footprint of ge. i think tech stocks overall tumbled today, they were down big friday, another downgrade of apple today. we'll see if there's fallout in tech stocks. lot of talk about comparison to 2005 tech stocks, counted for a third of the s&p 500 gains. >> they've had an incredible run, a little adjustment. christine romans thank you very much. we'll keep watching uber. we'll bring you that news as soon as we get it. >>> ahead for us, voices in the gop telling president trump the more he talks, the more he may be walking into his own trap. next, can he avoid it? with e*trade's powerful trading tools, right at your fingertips, you have access to in-depth analysis, level 2 data, and a team of experienced traders ready to help you if you need it. ♪ ♪ it's like having the power of a trading floor, wherever you are. it's your trade. ♪ ♪ e*trade. ♪ ♪ start trading today a

as i mentioned earlier, shared the story of our jack welch technology cent for the bangalore, the patents, intellectual contribution that we receive on -- helps incredibly in terms of that ledger of benefits to g.e. g. semplet a pro-free trade company. we're in about 180 countries. about half of our revenues come from abroad. we, as james just said, we embrace free trade. we see this benefits playing out every single day in communities across this country. as it relates to specifically to india, there -- the technology contributions can come from wind farms, it can come from manufacturing side. of g.e. transportation. our rail business. we just now are delivering the process of delivering 100 locomotives to indian raid railways. localization is the keyword here more so than outsourcing. local sargse is something where g.e. is required by make in india but also by a philosophy of wanting to get close to our customers. indian railways is this massive, tremendous industrial transportation infrastructure company and there is no way in 2017, 2018 g.e. could presume to meet indian railways' nee

thinking about what this relationship relies on and as i mentioned earlier, i shared the story of our jack welch technology center in bangalore, the patent intellectual contribution that we received on helps incredibly in terms of that letter benefits to ge, ge is a pro company with and about 180 companies, half of our revenues come from abroad. still we as he said we embraced free trade and see the benefits playing out every day in communities across the country. the relationship specifically to india, the technology contributions can come from farms, they can come from manufacturing side. ge transportation or rail business area. >> we just now are delivering the process of delivering 100 locomotives to indian railways. localization is the key word here more so than outsourcing. localization is something where ge is required by making in india but also in by a philosophy of wanting to get close to our customers, and indian railways , it's this massive tremendous industrial transportation infrastructure company, there is no way in 2017, 2018 ge could presume to meet indian railways needs, by pro

i mean, they spent jack welch's last big act as chairman of ge was to try to buy honeywell and spentn union shot it down. this morning we're discovering another american champion google facing the constraints of its size in europe also from eu investigators. i'm not at all saying that a company like amazon needs to be sort of like exempted from the basic rules of antitrust all i'm saying is that, again, once again as a nation we have to be somewhat trusting in the forces of creative destruction to protect the consumer as opposed to the nanny state >> greg, it's good to see you. the one point that you make, though, is that this does not come out without massive risk along the way. the volatility is because of the riskiness inherent in all of this you say more likely general electric is going to be around in the long, longs distant future than amazon, why is that? >> sure. amazon got where it is by defying conventional wigsdom the vast majority of companies are not trying to create a bland new website, a brand new business model for retail. they're taking a business model that works so