Era of ‘Infinite Capital’

Two years ago, at a General Electric (GE) holiday reception for business reporters in New York, GE chairman and CEO Jeffrey Immelt took some informal questions from journalists. Immelt, who ran GE Plastics in the Americas during the early 1990s, was asked how frustrated he was with high and volatile benzene costs and the negative impact they were having on GE Plastics’ profits. His response was quick: “Very frustrated.” Frustrated enough to consider a sale of GE Plastics, he was then asked. “To get the value that we attach to GE Plastics...

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