Jim Bado and I hit GE Crotonville this month. We each had a class of about 90 or so. Half came to my room, the famous Pit, for advanced finance and the case. The rest of the group went with Jim for the fundamentals. It was a typical GE group smart people with lots of questions. What was unique about my group is I had about 25 finance people in my class which is a lot for a MDC (Management Development Course) class. There were also a lot of questions and a little debate from the finance experts.
It seems I always get some push back on the accounting and finance is more of an art than a science. I love that debate because I know that I am right. Finance people are just nervous when I bring it up because it might make their job look less important. In the end we all agreed though that to create a financial statement there are always estimates, assumptions, and bias. That is indisputable.
The case study went well. I like the cases because the GE MDC groups are smart and the discussion is always lively. In cases we look at HSBC (yes the banking company that just paid the $1.9 billion fine for money laundering among other things), Siemens, Google, and Embraer (the Brazilian airplane manufacturer). These companies all have different relationships to GE – competitor, supplier, customer, and partner.
After the class Jim and I hit Time Square and Broadway for Rock of Ages. A great show for two old 40 something guys (I can only say 40 something for another month). Thanks Jim.