Siemens’s public statements about what they thought about the market were dramatically different than what GE was saying. GE was saying year-over-year growth and ‘This is what we’re going to do,’ and Siemens was kind of being very negative about what the market was going to look like, and it seems like Siemens was right and we were dead wrong.” He said it wasn’t a question of integrity but rather “I saw a lot of bravado. I saw a lot of arrogance. I saw some misplaced arrogance.”
