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Your Regular Paper Inside → BUSINESS WITH PERSONALITY BIT OF MUSCLE GETTING HIS LEG OVER A BRITISH ICON NEW ATHLETICS STAR GETS BACK ON HEADS FOR LONDON P24 THE ROAD P21 FREE YOUR TUESDAY 3 MARCH 2020 ISSUE 3,568 CITYAM.COM REGULAR KHAN EYES POWER TO PAPER → FIX RENTS STEFAN BOSCIA ministers have blocked us from intro- supply is the only way to deal with ducing our plans for rent controls in unaffordable rents. @Stefan_Boscia London — and have simply said no.” Rico Wojtulewicz, head of housing SADIQ Khan will launch his re-elec- “They have refused to give us the at the National Federation of JACK WELCH Legendary General tion campaign today by pledging to powers we need to make rent controls Builders’s House Building Associa- INSIDE happen,” the mayor will add. tion, said a cap on rents would in fact win powers to implement rent con- trols in London if he is returned to Rents have risen 27 per cent for hit supply by squeezing builders. Electric boss passes away aged 84 the capital’s 2.54m renters “[House builders] with projects in the capital’s top job. EDWARD THICKNESSE Dubbed Neutron Jack in the 1980s Launching his campaign since 2010. the pipeline could suffer, as rent caps To combat the problem may push down land prices, leaving for his appetite for job cuts — a at a Hackney housing @edthicknesse nickname he later said he found estate, Khan will say of housing affordability, many who have already purchased land with unviable projects,” he said. JACK Welch, the architect of General “unappealing” — Welch bought and that his victory would sold scores of businesses during his represent an “undeni- Khan says he has been Dr Kristian Niemietz, head of politi- Electric’s (GE) rise to becoming at one barred from introducing cal economy at the Institute of Eco- time the most valuable company in tenure. In his memoir, Welch said that able and irresistible” GE had 411,000 employees in 1980, mandate to enforce controls in his first term nomic Affairs, likened Khan’s stance the US, has died aged 84. to “Trump-style knee-jerk populism”. Over the course of his two decades but only 299,000 in 1985. rent controls — a move US President Donald Trump that would set him on the mayor advocated “Rent controls have never worked as chief executive of the industrial creating a private rental anywhere,” he said. “If Sadiq Khan giant, Welch grew the firm’s market yesterday hailed the industrial titan, a collision course with tweeting: “There was no corporate builders and landlords. commission to implement had any interest in solving London’s value from $12bn (£9.4bn) to $410bn, and oversee rent controls and to housing crisis, he would focus on the expanding GE’s reach into financial leader like ‘Neutron’ Jack. He will describe the 7 May poll “He will never be forgotten. My as a “referendum on rent controls”. establish a register of landlords to supply side,” he added. services and consulting as he did so. “name and shame rogue landlords”. A spokesman for the National Land- Before he took over in 1981, GE’s warmest sympathies to his wonderful Powers to implement a cap on rents wife and family,” he added. are not within City Hall’s remit and However, free-market think tanks lords Association said rent caps would revenue was $26.8m; by the time leave prospective property investors he finished in 2001, it had swollen would need to be devolved from and London’s house builders have THE CITY VIEW: P2 central government. rubbished the idea, with many with “no choice but to take their to $130bn. Khan is expected to say: “Tory arguing that increasing housing investment elsewhere”. BUSINESS WITH PERSONALITY BUSINESS WITH PERSONALITY BIT OF MUSCLE GETTING HIS LEG OVER A BRITISH ICON NEW ATHLETICS STAR GETS BACK ON HEADS FOR LONDON P24 THE ROAD P21 TUESDAY 3 MARCH 2020 ISSUE 3,568 CITYAM.COM FREE KHAN EYES POWER TO FIXSTEFAN BOSCIA RENTSministers have blocked us from intro- supply is the only way to deal with @Stefan_Boscia ducing our plans for rent controls in unaffordable rents. London — and have simply said no.” Rico Wojtulewicz, head of housing SADIQ Khan will launch his re-elec- “They have refused to give us the at the National Federation of tion campaign today by pledging to powers we need to make rent controls Builders’s House Building Associa- JACK WELCH Legendary General win powers to implement rent con- happen,” the mayor will add. tion, said a cap on rents would in fact trols in London if he is returned to Rents have risen 27 per cent for hit supply by squeezing builders. Electric boss passes away aged 84 the capital’s top job. the capital’s 2.54m renters “[House builders] with projects in Launching his campaign since 2010. the pipeline could suffer, as rent caps EDWARD THICKNESSE Dubbed Neutron Jack in the 1980s for his appetite for job cuts — a at a Hackney housing To combat the problem may push down land prices, leaving @edthicknesse estate, Khan will say of housing affordability, many who have already purchased nickname he later said he found that his victory would land with unviable projects,” he said. JACK Welch, the architect of General “unappealing” — Welch bought and represent an “undeni- Khan says he has been Dr Kristian Niemietz, head of politi- Electric’s (GE) rise to becoming at one sold scores of businesses during his able and irresistible” barred from introducing cal economy at the Institute of Eco- time the most valuable company in tenure. In his memoir, Welch said that mandate to enforce controls in his first term nomic Affairs, likened Khan’s stance the US, has died aged 84. GE had 411,000 employees in 1980, rent controls — a move to “Trump-style knee-jerk populism”. Over the course of his two decades but only 299,000 in 1985. that would set him on the mayor advocated “Rent controls have never worked as chief executive of the industrial US President Donald Trump a collision course with creating a private rental anywhere,” he said. “If Sadiq Khan giant, Welch grew the firm’s market yesterday hailed the industrial titan, builders and landlords. commission to implement had any interest in solving London’s value from $12bn (£9.4bn) to $410bn, tweeting: “There was no corporate He will describe the 7 May poll and oversee rent controls and to housing crisis, he would focus on the expanding GE’s reach into financial leader like ‘Neutron’ Jack. as a “referendum on rent controls”. establish a register of landlords to supply side,” he added. services and consulting as he did so. “He will never be forgotten. My Powers to implement a cap on rents “name and shame rogue landlords”. A spokesman for the National Land- Before he took over in 1981, GE’s warmest sympathies to his wonderful are not within City Hall’s remit and However, free-market think tanks lords Association said rent caps would revenue was $26.8m; by the time wife and family,” he added. would need to be devolved from and London’s house builders have leave prospective property investors he finished in 2001, it had swollen central government. rubbished the idea, with many with “no choice but to take their to $130bn. £ THE CITY VIEW: P2 Khan is expected to say: “Tory arguing that increasing housing investment elsewhere”. FTSE 100▲ 6,654.89 +74.28 FTSE 250▼ 19,301.70 -29.22 DOW▲ 26,703.32 +1,293.96 NASDAQ▲ 8,952.16 +384.80 £/$ 1.278 unc. £/€▼ 1.146 -0.036 €/$▲ 1.115 +0.015 02 NEWS TUESDAY 3 MARCH 2020 CITYAM.COM POLITICIANS MAKE ME SICK Benjamin Netanyahu claims a narrow victory on exit polls as Israel heads to ballot box (again) THE CITY VIEW Jack Welch: A business giant by any definition HERE are corporate titans — and then there is Jack Welch, who led General Electric through an extraordinary Texpansion as its totemic chief executive in the go-go days of the 1980s and ‘90s. Fortune magazine named him Manager of the Century, and considering that the market capitalisation of the firm went from $13bn (£10.2bn) to north of $400bn in the time he was in the top job, that seems a fair enough title to bestow. He was the poster boy for the heady days of Reaganomics and corporate America’s extraordinary growth, yet despite occasional controversy, never crossed the line into Gordon Gekko territory. Welch grew up in humble if not hardscrabble circumstances, the first of his family to go to university. Finding academia humdrum, he went into the ISRAELI leader Benjamin Netanyahu claimed victory late last night after exit polls suggested he was just two votes away from business world as an engineer for GE in 1960 — and never securing a narrow majority in parliament. Voters — including those forced to use a special quarantine polling booth due to looked back. He took the top coronavirus concerns — headed to the polls again in an effort to break a political stalemate that has lasted more than a year. job in 1981 at the age of just 45. His business style delivered value for shareholders beyond their wildest dreams, though he said that was never an end He got far more Factory output in itself; that was merely the right than he got result of bright business wrong Virus may halve rises but black strategy. He was renowned for his combative management style, even going so far as to use what became nicknamed the “rank and yank” style of clouds remain management — in which the worst-performing members of his management teams were simply fired.
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