NEW YORK (CNNfn) - He is been called the ultimate manager and a wealth creator. When Jack Welch took control of General Electric Co. in 1981, the company's market value stood at $14 billion, and according to Fortune magazine today, GE is now worth $433 billion.|
He told Stuart Varney on the Moneyline News Hour that the Internet was a great idea, and old-line businesses like GE have been making dramatic changes in the transformation to the new economy.
"We have the brand, and we have the fulfillment capability. Now we had to get the Net, and that's the easiest part of the game," said Welch.
And as Welch nears retirement in early 2001, he assured investors that there would be continuity at the helm. "I guarantee you it will not be anyone from the outside."
Shares of GE (GE: Research, Estimates) jumped 2-15/16 to 132-3/8 after Boeing (BA: Research, Estimates) chose the company to be the sole engine supplier for its new 777 aircraft.