It is clear that GE has fallen from the heights it was at around the turn of the millennium, but it is still unclear the cause. Its tells an interesting story and leaves you with a lot to think about. This book is no exception. I very much enjoyed the treatment of the shrinking of GE. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. According to one of bosses (who thought he was one of the contenders to replace Immelt) this culture was largely created by Jack ‘Birther’ Welch. 25 years in the history of General Electric, Reviewed in the United Kingdom on December 17, 2020. * Available out of the box with C by GE Direct Connect Smart Bulbs. In the end, GE’s traditional win-at-all-costs driven culture seemed to lose its direction, which ultimately caused the company’s decline on both a personal and organizational scale. Looking from my vantage point, the GE Capital story always looked a bit too good to be true but what did I know? I thought the book was a fascinating read and for a business book an easy read. It also analyzes reviews to verify trustworthiness. A bio and his approach brought GE billions despite the old boys club atmosphere, GE had. Not being able to see the wood for the trees is an obvious flaw but so easy to see how that develops amidst a company so focused on delivering quarterly earnings. This is truly a sad saga, narrating the decline of an iconic American company, General Electric, brought down by financial engineering and mismanagement. There were a few "scandals" but nothing that severely impacted the future of the company. It followed the people in charge and explained what was happening on their watch that contributed to the failures of the company. Also GE appeared to be a fairly buttoned up organization, especially under Immelt. It was a challenging and exciting place to work. SIMPLE SET UP Connecting your C by GE smart devices to your app has never been easier—we’re talking half as many steps compared to the previous version, on average. Please try again. My only gripe in an otherwise interesting read. Also GE appeared to be a fairly buttoned up organization, especially under Immelt. The Board created a toxic environment which silenced the organ; disbanded the choir; and sold an a cappella mantra as gospel. Unfortunately for him, his tenure was marked by two of the worst disasters to hit modern business and our country, the 911 attacks and the 2008 financial crisis. As they said at work, "You cannot spell change without GE". I read this book using immersion reading, while listening to the audio book. Be the first to ask a question about Lights Out. After reading this I suggest reading the ride of a lifetime by Robert Iger for a different approach and outcome. How far the mighty have fallen. I remember being cautioned by two long time senior GE execs never to question Jeff’s opinions. The book sets up the Immelt years with a more balanced view of the Welch years highlighting his obvious skills but also highlighting how he did sow the seeds for the eventual collapse. It's repetitive like it's written to read parts instead of cover to cover. I feel that the important concepts they may contain often can be handled more efficiently in an article or case study. The Company was full of incredibly smart, dedicated people who cared and loved their business. Heavy on the GE Capital side, it would have been nice if more emphasis was put on Aviation and Power to get a full picture of what really happened. Reviewed in the United States on September 13, 2020. It is a straight forward account of what happened. Mistakes were primarily bad financial and strategic decisions. Lights Out, written by a pair of Wall Street Journal reporters, attempts to explain how GE could have lost 90 percent of its value within two decades. I purchased the book mainly because I work for the digital operations of one of GE's rivals and many of our leadership are GE alumni. Goodreads helps you keep track of books you want to read. Lights Out examines how Welch’s handpicked successor, Jeff Immelt, tried to fix flaws in Welch’s profit machine, while stumbling headlong into mistakes of his own. The 9/11 attacks coming on his second day as CEO a case in point. Meet the C by GE app—rebuilt for the speed of life. I concede it's a complicated company with plenty of moving parts and businesses so I can understand that to a point. Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. This was a good inside scoop on the rise and fall of GE from the time of Jack Welch to the new leadership under Larry Culp. Lights Out: A Cyber Attack, a Nation Unprepared, Surviving the Aftermath is a cautionary tale. This is an excellent book, the authors must have spent many hours researching and putting this together. I was very interested to see this book as I have watched from afar to see the collapse of GE. Remember that awesome Christmas Lights Gone Wild video from last year? It's all here in detail. As an 8 year executive of a business bought by GE, I found this incredibly accurate. I was hoping for more history of the company to give the fall some more emotion. We work hard to protect your security and privacy. As the book sets out, GE was a creation of failed Edison businesses joined together by the banker J.P.Morgan, and Edison had little to actually do with the company. GE is now a different place and does not invoke the same sense of awe. The fact that GE was not fully meeting their pension obligations while they were buying back stock should bring the wrath of jail time to everyone on the leadership team and/or clawbacks of millions of dollars in bonus payments. The title of pride and delusion is aptly applied here. I don’t know if accounting fraud was committed, but from what I’ve witnessed in meetings I wouldn’t be surprised.GE’s sick culture of humiliating people (in front of their peers) for not meeting numbers or making specific sales, regardless of reason, is enough to make anyone consider dishonesty to avoid torture. You are. He would point at some of the management hypocrisies even back then. There were several smaller things in the book that I never knew or had heard of, so I don't regret spending all day reading the Kindle book. The first to Ask a question about Lights Out is the definitive story of management! Context my interest in this book yet GE could be so dysfunctional Welch had them! 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