David McWilliams: We must face reality - and end bank guarantee
'Define reality, face into it and do something about it' -- Jack Welch, CEO, GE
In 2001, I worked for Jack Welch, the legendary CEO of GE. He was on a book tour and I was his MC -- asking the questions at events and teasing out ideas and experiences from the gnarled titan of corporate America. Welch was the hardest taskmaster I have every worked for, but it was worth every minute, every harsh word, every cold stare.
When we weren't on stage, we chatted about all sorts of things and he was almost grandfatherly in these quieter moments. He was particularly keen to emphasise that crises define the person, the institution, the country.