In business as in life, sometimes bad things happen to good people, and sometimes good things happen to bad people. But over time, if you play long enough, everybody gets what he deserves - good and bad.

I think there's a need for somewhat of a mindset change. We need to have a consistent external focus. We've always had the research labs. We've always had the resources to be innovative, and we've been innovative in a number of businesses. But, in any big company, you have to constantly push people to look at markets and customers, rather than look internally at themselves.

It's the sustained ability to change that really counts.

I love working with customers. Sales has really influenced everything I do. It has instilled in me the important traits of operating with a sense of urgency and listening to people.

I'm out talking about this company (General Electric) seven days a week, 24 hours a day, with nothing to hide. We're a 130-year-old company that has a great record of high-quality leadership and a culture of integrity.

People ought to invest in us because they like our company and the way they run it. We still do quarterly earnings guidance, but we tell people openly that they ought to look at the company for the long term and that's how they ought to invest.

And people is the most important part of my job. I spend one third of my time on people.