Divorce papers reveal GE CDO's perks

[CurtisEdmonds]

The NYT reports that Jack Welch had his snout and both trotters in the trough:

Mrs. Welch states that G.E. was paying for V.I.P seating at Wimbledon, a box at the Metropolitan Opera, a box at Red Sox games, a box at Yankee games, four country club fees, security services in all four homes and limousine services while traveling. Because of his relationship with G.E., Mr. Welch and his wife also got discounts on diamonds and jewelry settings.

And other business leaders? They're shocked, shocked to find gambling in this establishment:

Nell Minow, a governance expert and the editor of The Corporate Library, once described Mr. Welch's employment contract as a model because it did not appear to include a huge number of benefits. After being told about the filing, she said yesterday: "I would have thought that perks like this had to be disclosed, and they were not. There is really no justification to pay for any living or traveling expenses at that level, particularly now that he is in retirement."

[brian_igo]

I gotta tell you, Jane Welch deserves an Oscar for the entertainment she is providing all of us.

(If you missed it, she started her divorce by calling the Harvard Business Review and sweetly asking if it was ethical for their editor to be screwing the people she was writing about. The answer was no.)

And now this. I don't mind saying Welch's and GE's arrogance through the nineties makes this a delightful time. If I only had a few years to spare, I'd call every business writer who left hickeys on Welch's ass over the years and share my joy.


Brian