Quick Links:
Get involved!Press articles
Important Links
Insider trading
Lou's Contract
Total Compensation
Subscribe:
Add or delete IDChange ID
Contact site owner
Previous Highlights:
CurrentApril 21, 2007
April 14, 2007
April 7, 2007
March 31, 2007
March 24, 2007
March 17, 2007
March 10, 2007
March 3, 2007
February 24, 2007
February 17, 2007
February 10, 2007
February 3, 2007
January 27, 2007
January 20, 2007
January 13, 2007
January 6, 2007
December 30, 2006
December 23, 2006
December 16, 2006
December 9, 2006
December 2, 2006
November 25, 2006
November 18, 2006
November 11, 2006
November 4, 2006
October 28, 2006
October 21, 2006
October 14, 2006
October 7, 2006
September 30, 2006
September 23, 2006
September 16, 2006
September 9, 2006
September 2, 2006
August 26, 2006
August 19, 2006
August 12, 2006
August 5, 2006
July 29, 2006
July 22, 2006
July 15, 2006
July 8, 2006
July 1, 2006
June 24, 2006
June 17, 2006
June 10, 2006
June 3, 2006
May 27, 2006
May 20, 2006
May 13, 2006
May 6, 2006
2006 Stock Meeting
April 22, 2006
April 15, 2006
April 8, 2006
April 1, 2006
March 25, 2006
March 18, 2006
March 11, 2006
March 4, 2006
February 25, 2006
February 18, 2006
February 11, 2006
February 4, 2006
January 28, 2006
January 21, 2006
January 14, 2006
January 7, 2006
December 31, 2005
December 24, 2005
December 17, 2005
December 10, 2005
December 03, 2005
November 26, 2005
November 19, 2005
November 12, 2005
November 5, 2005
October 29, 2005
October 22, 2005
October 15, 2005
October 8, 2005
October 1, 2005
September 24, 2005
September 17, 2005
September 10, 2005
September 3, 2005
August 27, 2005
August 20, 2005
August 13, 2005
August 6, 2005
July 30, 2005
July 23, 2005
July 16, 2005
July 9, 2005
July 2, 2005
June 25, 2005
June 18, 2005
June 11, 2005
June 4, 2005
May 28, 2005
May 21, 2005
May 14, 2005
May 7, 2005
April 30, 2005
April 23, 2005
April 16, 2005
April 9, 2005
April 2, 2005
March 26, 2005
March 19, 2005
March 12, 2005
March 5, 2005
February 26, 2005
February 19, 2005
February 12, 2005
February 5, 2005
January 29, 2005
January 22, 2005
January 15, 2005
January 8, 2005
January 1, 2005
December 25, 2004
December 18, 2004
December 11, 2004
December 4, 2004
November 27, 2004
November 20, 2004
November 13, 2004
November 6, 2004
October 30, 2004
October 23, 2004
October 16, 2004
October 9, 2004
October 2, 2004
September 25, 2004
September 18, 2004
September 11, 2004
September 4, 2004
August 28, 2004
August 21, 2004
August 14, 2004
August 7, 2004
July 31, 2004
July 24, 2004
July 17, 2004
July 10, 2004
July 3, 2004
June 26, 2004
June 19, 2004
June 5, 2004
May 29, 2004
May 22, 2004
May 15, 2004
May 8, 2004
2004 Stock Meeting
April 24, 2004
April 10, 2004
April 3, 2004
March 27, 2004
March 20, 2004
March 13, 2004
March 6, 2004
February 28, 2004
February 21, 2004
February 14, 2004
February 7, 2004
February 1, 2004
January 18, 2004
December 27, 2003
December 20, 2003
December 13, 2003
December 6, 2003
November 29, 2003
November 22, 2003
November 15, 2003
November 8, 2003
November 1, 2003
October 25, 2003
October 18, 2003
October 11, 2003
October 4, 2003
September 27, 2003
September 20, 2003
September 13, 2003
September 6, 2003
August 30, 2003
August 23, 2003
August 16, 2003
August 9, 2003
Pension Lawsuit Win
July 26, 2003
July 19, 2003
July 12, 2003
July 5, 2003
June 28, 2003
June 21, 2003
June 14, 2003
June 7, 2003
May 31, 2003
May 24, 2003
May 17, 2003
May 10, 2003
2003 Stock Meeting
April 26, 2003
April 19, 2003
April 12, 2003
April 5, 2003
March 29, 2003
March 22, 2003
March 15, 2003
March 8, 2003
March 1, 2003
February 22, 2003
February 15, 2003
February 8, 2003
February 1, 2003
January 25, 2003
January 18, 2003
January 11, 2003
January 4, 2003
December 28, 2002
December 21, 2002
December 14, 2002
December 7, 2002
November 30, 2002
November 23, 2002
November 16, 2002
November 9, 2002
November 2, 2002
October 26, 2002
October 19, 2002
October 12, 2002
October 5, 2002
September 28, 2002
September 21, 2002
September 14, 2002
September 7, 2002
August 31, 2002
August 24, 2002
August 17, 2002
August 10, 2002
August 3, 2002
July 27, 2002
July 20, 2002
July 13, 2002
July 6, 2002
June 29, 2002
June 22, 2002
June 15, 2002
June 8, 2002
June 1, 2002
May 25, 2002
May 18, 2002
May 11, 2002
2002 Stock Meeting
April 27, 2002
April 20, 2002
April 13, 2002
April 6, 2002
March 30, 2002
March 23, 2002
March 16, 2002
March 9, 2002
March 2, 2002
February 23, 2002
February 16, 2002
February 9, 2002
February 2, 2002
January 26, 2002
January 19, 2002
January 12, 2002
January 5, 2002
December 29, 2001
December 22, 2001
December 15, 2001
December 8, 2001
December 1, 2001
November 24, 2001
November 17, 2001
November 10, 2001
November 3, 2001
October 27, 2001
October 20, 2001
October 13, 2001
October 6, 2001
September 29, 2001
September 22, 2001
September 15, 2001
September 8, 2001
September 1, 2001
August 25, 2001
August 18, 2001
August 11, 2001
August 4, 2001
July 28, 2001
July 21, 2001
July 14, 2001
July 7, 2001
June 30, 2001
June 23, 2001
June 16, 2001
June 9, 2001
June 2, 2001
May 26, 2001
May 19, 2001
May 12, 2001
May 5, 2001
2001 Stock Meeting
April 21, 2001
April 14, 2001
April 7, 2001
March 31, 2001
March 24, 2001
March 17, 2001
March 10, 2001
March 3, 2001
February 24, 2001
February 17, 2001
February 10, 2001
February 3, 2001
January 27, 2001
January 20, 2001
January 13, 2001
January 6, 2001
December 30, 2000
December 23, 2000
December 16, 2000
December 9, 2000
December 2, 2000
November 24, 2000
November 17, 2000
November 10, 2000
November 4, 2000
October 28, 2000
October 21, 2000
October 14, 2000
October 7, 2000
September 30, 2000
September 23, 2000
September 16, 2000
September 9, 2000
September 2, 2000
August 26, 2000
August 19, 2000
August 12, 2000
July 29, 2000
July 22, 2000
July 15, 2000
July 1, 2000
June 24, 2000
June 17, 2000
June 10, 2000
June 3, 2000
May 27, 2000
May 20, 2000
May 13, 2000
May 6, 2000
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 28, 2000
- Plan Sponsor: Reading
Between the Lines at IBM. Retirees fear health benefits cutbacks at
Big Blue next year. IBM's already rocky relationship with its retirees
may be headed for more trouble.
- Plan Sponsor: IBM
Retirees Fear Health Benefit Cutbacks. In the midst of a national
debate over healthcare concerns, a letter suggesting IBM might decrease
retiree health care coverage has stirred up emotions among the already
combative Big Blue retirees.
- Washington Post: Capricious
Stock Market Isn't the Place For Social Security, Retirement Funds
- Wall Street Journal: Retiree-Medical
Plans Are Transformed Into Source of Profits by Sears, Others. "Sears
Roebuck & Co. has figured out how to turn its medical-benefits program
for retirees into a source of corporate income." "The seeds
of the retiree-health windfall for many companies were planted in the
late 1980s, when the Financial Accounting Standards Board, the accounting
industry's rule-making body, began to develop standards for reporting
retiree-health obligations. Major companies, such as General Electric
Co. and International Business Machines Corp., played an active role
in the process, suggesting ideas to the accounting board. Companies
showed the board computer simulations of how various proposals would
affect corporate bottom lines."
- IBM must
pay former exec in termination suit. IBM will have to pay damages
to the former president of its Asian division after a federal judge
found the company violated his employment contract.
har_philby comments on this article. Extract: "The publicity of these dubious tactics trying to force stupid contracts on executives as well as screwing departing low level personnel is certainly having a negative impact in hiring new outside people. ... If 'baby face' Palmisano had any guts he'd tell Lou to curb the gestapo HR tactics. Fewer and fewer people want to work at IBM and those left in there that have any skill or future are all planning their exits. I think investors should ask Palmisano: 'If you say your people are your most valuable assets, why not take care of them like a good asset?'
- Plan Sponsor: Employer
Puts Pension Surplus To "Good Use". Ethyl Corporation
will terminate - and then "restart" - its defined benefit
plan for salaried employees on January 1, retrieving a $200 million
surplus. The carefully designed move should capture the attention of
other over-funded plans, some of whose surpluses range into the billions.
Habel believes Ethyl won't be the only pension plan to restructure itself
in this way. "It's not an easy process, but I predict that once we are
out of the gate with this, other companies are going to be looking at
it. Our surplus is peanuts compared to what's out there - billions,
at some plans."
- PBS Frontline: Interview
with Robert Reich, U.S. Secretary of Labor. Topics covered include
CEO compensation and corporate trust.
- A
thoughtful posting on Yahoo!'s IBM investment board addressing several
issues: the tax problem in England with Inland Revenue; employee
morale and retention; loss of profitability in IGS; slower software
sales in SWG; substrate packaging problems; and slim profitability of
the PC group. Extract: "Gerstner and Palmisano should seriously
consider stopping the pension changes and offer a "giveback" to those
experienced employees still there. Options and young turks aren't going
to save the company. It's the combination experience from the old folks,
mentoring of the young and good teamwork that's going to save the company."
- IBM
mocked in political cartoon in Binghamton (NY) Press
- President
Clinton writes to the Speaker of the House and the Senate Majority Leader
regarding the HR 1102 issues. Excerpt: "Third, the offer includes
pension legislation adopted by the House and Senate, costing about $50-60
billion over 10 years, provided that certain modifications that the
Treasury Department has discussed with the tax-writing committees are
made to ensure that employer-provided pensions for workers are not
harmed, to provide meaningful protections for workers affected by cash
balance conversions, and to provide progressive savings incentives
for low- and moderate-income workers." (Italics are my emphasis).
- Washington Post editorial:Yes,
Veto the Tax Bill. "The President says on inspection that he'll
veto the end-of-session Republican tax cut bill if it comes to him in
its current form. That's what he ought to do. The limited amount of
good the bill would do is not remotely worth the cost. The tax cuts
alone--the bill has other parts, some of which are also objectionable--would
cost more than a quarter-trillion dollars over 10 years. The highest-income
5 percent of taxpayers would get a larger share than the lowest-income
80 percent."
- Center on Budget and Policy Priorities: Leadership's
Tax Plan Reinforces Inequities in Health and Pension Coverage. Tax
Cuts Primarily Benefit High-Income Households and Could Reduce Health
and Pension Coverage for Low- and Moderate-Income Workers.
- Of
Leafs(leaves) and Ledger Stew: "While the leaves of the season
fall gracefully around Castle Armonk, another rite of the season is
about to begin. The harvest this year has been scant and the Lords of
Dow are leary. The Beast in a Business Suit is unhappy. What will the
he do now? The serfs have been subjected to longer hours and the "Ledger
Stew" is still spoiling..."
- CPR
provides categories of reasons that people have decided to stay at IBM.
Interesting reading. Excerpt: "First, HR tells managers like us
that retention is the biggest management problem today at IBM. We'd
say productivity and hiring are worse, but as line managers we only
see part of the 'overall' picture. It reminds us of a TV police series
in the 60's about NY at night, the city of a "thousand stories".
IBM is just like that, a thousand reasons why people stay and leave.
Every time I talk to another employee, I find another reason. They can
be grouped in a crude fashion thus..."
- Washington Post: Actuaries
Fault Bush Plan. The American Academy of Actuaries, a respected
nonpartisan organization of financial and statistical experts, will
report today that Texas Gov. George W. Bush's plan to cut taxes and
divert Social Security payroll taxes to establish individual accounts
would make it all but impossible to eliminate the publicly held national
debt.
- New York Times: A
Retirement Fable
- har_philby
writes on Yahoo!'s IBM stock investment message board about IBM
using exceptions to FAS 106 and FASB 87 to funnel earned income from
its employee pension accounts to the bottom line; IBM under investigation
by the UK Inland Revenue department for tax and pension anomalies; and
allegations that IBM has heavily funded lobbyists and consultants to
try to pass a law initially known as HR1102 through the Senate and House.
The law would have immediately allowed IBM to forfeit all pension monies
from active employees and retirees without legal recourse from the employees
and retirees, but President Clinton has threatened to veto it.
- IBM "warns" CEs and SSRs that a union represenative might come to their house...