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Mr Jack Welch

Vishwanath Kulkarni

Las Vegas, Nov. 18 Management guru and former CEO of General Electric, Mr Jack Welch, is optimistic that the financial crisis will get over by end next year.

He came down heavily on companies that are laying off people. “Blanket layoffs are the worst thing. It’s a classic case of knee-jerk reaction,” Mr Welch said.

Mr Welch asked CEOs to lead from the front and get their house in order, while stressing the need to conserve cash, communicate and take care of employees, and acquire assets to overcome the crisis.

Hedging bets on Barack Obama, Mr Welch hoped that the President-elect’s left-of-the-centre orientation might bring in White House policy correctives.

A votary of globalisation, Mr Welch said India is a miracle where countless number of entrepreneurs are constantly innovating, bringing ‘have-nots’ into the ‘haves’ league. “The India story is remarkable. This is what globalisation can achieve,” he said.

Predicting that the energy sector would be the next big frontier, Mr Welch said: “Energy will be the next Silicon Valley. We cannot even fathom where energy is going to take us.”

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