Former GE CEO Jack Welch hospitalized
"Jack Welch was admitted to New York Presbyterian Hospital on July 5 with a bacterial infection," his office said in an e-mailed statement. "He is expected to fully recover."
The 73-year-old executive led GE from 1981 through 2001 and picked the largest U.S. conglomerate's current chief, Jeff Immelt.
Welch, the author of several books on management, including "Winning," earned the nickname "Neutron Jack" early in his tenure for his aggressive restructuring actions. During his time as CEO the company's revenue grew from about $26.8 million to nearly $130 billion and its market value surged from $13 billion to several hundred billion dollars.
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Ontario will not renew electricity deal with Quebec
TORONTO - The Ontario government does not plan to renew the Ontario-Quebec Electricity Trade Agreement, Radio-Canada is reporting.
The seven-year contract, which expires next year, aims to reduce Ontario's greenhouse gas (GHG) emissions by buying 2.3 Terawatt-hours of electricity from Quebec annually — that corresponds to about seven per cent of Hydro-Quebec's average annual exports.
The announcement comes as the provincially owned Quebec utility continues its legal battle over a plan to export power to Massachusetts.
The Ontario agreement has guaranteed a seasonal exchange of energy, since Quebec has a power surplus in summer, and the province's electricity needs increase in the winter.…
