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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 November 10, 2000
- ZDNet News: Experience
counts: Revenge of the old guys. Now that the Web's silly season
is past, the grownups are taking over.
- Yahoo! News: IBM
Execs Face Tough Crowd at Fall Analyst Meeting. "IBM has its
work cut out to convince investors and analysts weary of several quarters
of explanations for sales shortfalls, which Bear Stearns analyst Andy
Neff called, 'the dog ate my homework' problem. 'Investors are frustrated
by IBM's ability to come up with new excuses every quarter on why it
missed the numbers,' he wrote in a note to clients. `We don't want excuses.
We want results.'"
- Poughkeepsie Journal: IBM-UK
files report at deadline. Company mum on reasons for delay. "There's
something a bit odd about the 1999 report filed by IBM Corp.'s main
British subsidiary. It was filed on the last legal day to do so. And
that was one day after directors and auditors signed off on it. The
last-minute filing for IBM United Kingdom Holdings Ltd. is sharply at
variance with Big Blue's pattern of filing in May or June."
- Wired News: Forget
Movies, Give Techies Tech. Looking for ways to attract the top tech
experts to your company? Then pack up the pool tables, give away the
golf clubs and forget about foosball.
-
ABCnews.com: Argentine Judge Investigates Alleged Kickback Scheme. 4 Arrest Warrants in IBM Case. An Argentine federal judge signed arrest warrants today for four current and former IBM officials sought for questioning in an alleged kickback scheme, the judge's aide said.
- Forbes: Baby
Blues. "Besides, dividing IBM, would prevent Gerstner from
being able to continue to employ the financial alchemy that he has used
to create the appearance of growth at IBM. In the past five years
he has boosted earnings per share by 24%, in part by spending $37 billion
to buy back IBM stock. The results have also benefited from lower tax
rates and windfalls from IBM's pension fund." (Emphasis
added by editor of this site).
In the first nine months of this year, IBM's hardware sales declined 4%. Software declined 0.3%. Services, touted by IBM as its future, grew a mere 2%. Overall revenues fell 1%. And this is at a time when the global market for information technology will grow a bit more than 10% this year. Such rivals as Sun Microsystems and EMC are booming on the Internet buildout. Sun's sales grew 60% in the most recent quarter; IBM's Unix servers grew 15%. In storage, EMC grew 47% last quarter, while IBM grows about 10% annually (a 50% rise last quarter was owing to a dismal year-ago period).
- Colorado residents: The Alliance@IBM will hold an open forum
meeting Thursday, November 16, from 6:30 to 8:30 p.m. at Niwot High
School. Niwot High School is located at 8989 Niwot Road in Niwot. Join
us for an informational gathering. We encourage everyone to come and
ask questions. We are all
concerned with the changes that have been made. These meetings are geared toward the first time visitor. Invite your co-workers, come and see what the
Alliance@IBM wants to achieve.
Directions to Niwot High School: Niwot Road is just north of Highway 52 off Highway 119. Turn left on Diagonal Hwy from the IBM plant. Go to the
next light and turn right. Go east a mile or so. The High School is on the left. Go in through the front entrance. Call Paul Wick at 303-682-9205 for details.
Or e-mail at p.t.wick@worldnet.att.net
- CEO/Worker
Pay Gap: The Neglected Campaign Issue. "A new study reveals
growing pay gaps between workers and CEOs and between CEOs and government
officials that are increasing inequality and undermining democracy.
CEO pay jumped 535% in the 1990s, dwarfing the 297% rise in the S&P
500, 116% rise in corporate profits and 32% increase in average worker
pay (not adjusted for inflation). The pay gap between CEOs and the President
of the United States has grown from 2:1 to 62:1 since 1960, reports
the Institute for Policy Studies and United for a Fair Economy in Executive
Excess 2000."
"If average pay for production workers had grown at the same rate as it has for CEOs during this boom, instead of barely outpacing inflation, their 1999 annual earnings would have been $114,035 instead of $23,753. If the minimum wage had risen as fast as CEO pay, it would now be $24.13 an hour, instead of $5.15."