early in flannery's tenure there's this infamous meeting in schenectady with power leaders flannery and jeff bornstein and it's at this meeting it becomes clear flannery and bornstein is supporting profitability by modifying his contract and it's about to run out of cash. my question is given the checks and balances that existed in ge the blueprint reviews that took place in each business quarterly and the corporate auditing which was provided on an as-needed basis, howare these serious power issues identified sooner ? >> again, the meeting as it was described isn't actually the way it happened but for probably three years the board and i disagreed on how the power business leadership was working. and we just had the wrong leadership at the wrong place at the wrong time and all the issues were property issues. now, what got past was that our team wasn't doing its work. it was reported to the media and it was bs and as a result we want the finance people who said basically my own company won't support me and we're going to leave and go someplace else. so again, why did i write the book?
the book seems to take a critical view of john flannery especially given the headwinds he entered with the assumption of coo for long-term care if you continue the role through 2018 what different approach word you have taken with the stock prices. >> what would you have done differently quick. >> on this one i will just say i respect john. it wasn't good for anybody that didn't work out i didn't try to second-guess him. it just was difficult markets a power team that underperformed and he just didn't have good enough support and we will leave it at that i supported him i respect john and i never wanted anything bad to happen to him. >> so having those important people around you that you can trust, there is a lot of discussion and written about board governance with publicly held companies. do you think your board of directors did you feel they were independent? >> yes but we insisted to have complete transparency with the company we insisted they go visit all the businesses. they had run of the place sometimes a place as complicated as ge. with the board to have complete autonomy to
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