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GE was a slow-mo train wreck for years (pun intended).

Recently read "Lights out", about their problems in the last ~20 years, fascinating read, heartily recommended.

And yet Jack Welch somehow came to be looked upon as a management guru instead of someone who gutted the long-term viability of GE in favor of financialization.

Luckily I think history is doing its job in changing how Jack Welch's legacy will be remembered. I don't think students or upcoming businesspeople are really learning Welch's approach anymore.

Jack Welch has definitely fallen out of favor considering the results obviously illustrate his failures.

The business lines you offered as examples are low margin commodities or stuff GE really sucked at. Trains seems like a reasonable high margin line of business for a company that is actually good at industrial engineering.

They needed cash and it’s a profitable business so they sold it.