Mar 2, 2020 - Economy & Business

Jack Welch dies at 84

Photo: Brooks Kraft/Getty Images

Jack Welch, the former chairman and CEO of General Electric, died at 84, according to a Monday announcement from his wife.

Why it matters: During Welch's 20 years at the helm of the conglomerate, the company's market value grew from $12 billion to $410 billion, becoming one of the world’s most valuable companies, CNBC reports. He was known for his streamlining of GE's workforce, cutting its employees by more than 100,000 at the start of his tenure to improve the company's bottom line.

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The parallels between Jack Dorsey and Jack Welch

Photo illustration: Aïda Amer/Axios. Photos: Mike Coppola/Getty Staff, Phillip Faraone/Stringer

Twitter founder Jack Dorsey is, in some strange way, the modern-day version of Jack Welch.

The big picture: Dorsey, the embattled yet sensitive founder and CEO of Twitter and Square, has almost nothing in common with Welch, the corporation man who led General Electric as it became the largest company in America. Yet Dorsey exemplifies today's West Coast leaders just as Welch helped to define the celebrity CEO of the 1980s and '90s.

Airbnb looks for backups to going public amid coronavirus downturn

Illustration: Aïda Amer/Axios

Airbnb may not be through with the private markets after all, as CNBC reports that the room rental giant is fielding offers from large investment firms, although pricing remains unclear.

Why it matters: 2020 was supposed to be the year that Airbnb went public, either through an IPO or a direct listing (or a combination of the two).

Ford, GE aim to make 50,000 ventilators in 100 days

A Model A-E ventilator, left, and a simple test lung. The ventilator uses a design that operates on air pressure without the need for electricity, addressing the needs of most COVID-19 patients. Photo: Ford

Ford and GE Healthcare announced plans on Monday to build a simplified ventilator design licensed from a Florida medical technology company, with the goal of producing 50,000 machines by early July, and up to 30,000 a month thereafter, to fight the coronavirus.

Why it matters: The companies are moving in "Trump time" to meet demand for urgently needed ventilators, says White House Defense Production Act Coordinator Peter Navarro. But with deaths expected to peak in two weeks, the machines won't arrive in large numbers in time to help the hardest-hit cities.

Go deeperArrowUpdated Mar 30, 2020 - Health