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Great expectations: Jack Welch, the chief executive who led General Electric Co. to historic heights, is taking the publishing world to historic heights with a record-setting advance for his planned book. A heated bidding war climaxed with Welch landing a $7.1 million advance with Time Warner Trade Publishing for the North American rights to his still-untitled book. The amount exceeded the advances earned by Pope John Paul II and retired Army Gen. Colin Powell.
