The Fish Rots From the Head by Bob Garratt

Author:Bob Garratt
Language: eng
Format: epub
Publisher: Profile Books
Published: 2010-01-15T00:00:00+00:00

Ratios and trendlines

For some three decades General Electric Company (GEC) controlled around 200 companies through rigorous monthly reporting on seven financial ratios and 12 trendlines (see Tables 1 and 2). Sadly, this discipline seems to have been thrown away when GEC-Marconi became Marconi under new directors in November 1999. The company imploded within 18 months because the new directors decided to focus what had been a diversified engineering conglomerate on a single industry, telecommunications (an industry that they did not know well), made acquisitions at the top of the market and had to sell out at the bottom after the dotcom crash.

TABLE 1 • GEC’s seven ratios

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