Immelt embraced the situational pragmatism of the high-powered. His priorities were the company’s—deregulatory and laissez-faire—but ultimately mutable, in response to the needs of the moment, and contested only when the bottom line was truly threatened. That could lead to unexpected divergence from stereotype. For instance, when President George W. Bush rolled out his tax cuts, Immelt told one investor that the plan didn’t make sense. “Why cut my taxes?” he said, referring to his wealth. “Why not let the poorer people have it and spend it?”
