Matt Stichnoth gave some solid advice today in his article, “GE: Immelt Gets Welched.” (Great title by the way). He notes that quarterly earnings micromanagement does not create shareholder value over the long term–and instead leads to what he calls, “doom (Enron), disaster (Worldcom), and even jail (Tyco).”

He goes on to note that Jeff Immelt has simply been busy cleaning up a series of improper accounting practices and asks that Jack Welch should perhaps stop giving earnings guidance or stay off CNBC appearances….
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