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In the Christian tradition, Jan. 6-the 12th day of Christmas-is the Epiphany, the day celebrating the visit of the three wise men to the Christ Child.
Last year, a wise man of a different sort, Jeffrey R. Immelt, chairman and CEO of General Electric, had an epiphany of his own, one that will dramatically affect the future of his company and, perhaps, the nation as a whole.
In a Dec. 5 interview with Steve Lohr of the New York Times, Immelt recounts how badly GE was affected by the financial crisis. Losses from its financial services division, GE Capital, threatened to pull down the entire...