IBM Employee and Investor Issues Summary Highlights for Week Ending October 21, 2000

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  April 24, 2004
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  Pension Lawsuit Win
  July 26, 2003
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  November 23, 2002
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  2001 Stock Meeting
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  April, 2000

Join your fellow employees who are fighting for your benefits - Join the Alliance!

Retirees, Vendors, Contractors, Temps, and Active Employees are all eligible to become members of the Alliance.

Highlights for week ending October 21, 2000

From Janet Krueger: If you want to cosponsor the IBM shareholder resolution on removing the ties between executive compensation and the pension fund, so that the administrators of the pension fund would be more likely to give retirees a well-deserved COLA out of the 17 billion dollar surplus, go to the following web site: http://www.allianceibm.org/resolutions.htm. Also, please consider forwarding the URL to any friends you have who are also retirees. We want IBM to know a LOT of us feel there is an injustice occurring here! The deadline for co-sponsorships in November 15.
The two employee-sponsored stockholder resolutions have just been posted on the Alliance web site. The national Alliance@IBM/CWA is supporting both of these resolutions. The web site has a form you can fill out if you wish to become a co-sponsor of one of the resolutions. You may only co-sponsor ONE resolution, and you must also own at least one share of IBM stock. The completed form gets e-mailed to IBM. http://www.allianceibm.org
Information Week: Older IT Pros Struggle With Age Bias. Despite the boom in information-technology job opportunities, many older IT professionals are having trouble finding work, observers say. Although no extensive research on this subject exists, anecdotal evidence abounds.
Lou Shadow imagines a conversation between Lou Gerstner and Sam Palmisano on the eve of the 4th quarter earnings annoucement
CPR talks about IBM's high attrition rate, "Gerstner youth with worthless stock options", and what e-server support and installation personnel will be doing during the winter holidays
har_philby comments on Lou Gerstner's contributions to IBM
CPR comments on the hard day IBM line managers had on the day after IBM announced its third quarter earnings
Annex Bulletin: Analysis of IBM’s Third Quarter Business Results. IBM Stock Gets Trashed! IBM Runs Out of Tricks as Wall Finally Loses Patience with Big Blue.
eWeek: Analysts weary of IBM's 'blame game'
Insider Training: Linda Sanford and David Thomas, Senior Vice Presidents at IBM, time the market right by exercising their stock options before the 3rd quarter earnings stock price crash
Whatever happened to the Quarter Century Club (QCC)?
Yahoo! News: Some of the largest U.S. companies paid no income tax between 1996 and 1998 despite earning billions of dollars during those years, according to a recent study. The full study is available at http://www.ctj.org/itep/corp00an.pdf. According to this article, IBM's taxes were cut 2/3 by tax breaks (page 4 of the article or page 8 the PDF). Almost $1B of the breaks came from options (page 9/13). IBM's effective tax rate in 1996-98 was 11.4% (page 17/21). This put IBM in the "top" 25 companies of lowest tax rates during this period.

News from the United Kingdom

The (U.K.) Register: Robbing Peter to pay Paul: IBM pension plan comes under fire
The London (England) Times: IBM to face inquiry over pension fund. "IBM could face a multimillion-pound bill to top up one of its pension funds if the Pensions Ombudsman upholds complaints that the multinational has acted wrongly in cross-subsidising contributions to its schemes." Paul Rogers, U.K. H.R. Director responds to the Times article.
Poughkeepsie Journal: IBM UK facing pensions challenge (same news as previous two links)
Financial Times (of London): Ageism 'rife' in IT sector despite skills shortage. Older Workers Survey Findings Suggest that Companies Recruiting Staff Do Not Generally Acknowledge Existence of
Dave Budd's Questions to Pension Services Manager
IBM's own pension materials make interesting reading

"The test of our progress is not whether we add more to the abundance of those who have too much; it is whether we provide enough for those who have too little." — Franklin D. Roosevelt

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