Page "Lawrence Bossidy" Paragraph 5

One of Bossidy's most important jobs at General Electric was as Chief Operating Officer of General Electric Credit Corporation from 1979 to 1981.

During Bossidy's tenure as head of General Electric Credit Corporation, the subsidiary, founded in 1943, came into its own.

Between 1979 and 1984, its assets doubled, to $ 16 billion, due to expansion into leasing and selling of heavy industrial goods, inventories, real estate, and insurance.

The leasing operations also provided General Electric with tax shelters from accelerated depreciation on equipment that GE developed that were then leased by the credit corporation.

Dennis Dammerman worked for Bossidy at GE Credit and remembered that Bossidy " could be boisterous and a little unsettling to the insecure.

He challenged everything, If you couldn't back up what you said, look out.

But he also challenges himself.