Jack Welch Interview: The Prosecutor Is Also The Judge

Still smarting from his defeat in Brussels, Jack Welch nonetheless showed good humor and little bitterness as he spoke last Friday with TIME writers and editors.

Q: You have said you have long wanted to buy Honeywell. So why did you wait until the end of your career?

A: The price was never right. I wasn't aware of it at the time, but our aircraft people had been working with an investment bank on Honeywell for a couple of weeks prior to this coming up in October. Don't forget that last year, Honeywell's stock had lost about 40% of its value....

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