It is painful, but necessary, to read about failure in business.
By any measure the decline of General Electric these past months is an epic fail for the ages. Fortune’s Geoff Colvin should know. He repeatedly profiled the storied industrial conglomerate during the tenure of its departed CEO, Jeffrey Immelt. Colvin explained in past years what made Immelt a worthy successor to the legendary Jack Welch. He also described Immelt’s struggles to achieve adequate growth at GE—long before its grave problems emerged.