"As the Motley Fool noted, the miss and resulting tumble erased nearly $9 billion from IBM’s market capitalization and brought the Dow Jones Industrial Average down by 64 points. . . . So gross margins are putting pressure on a business that needs to... — read more
IBM to exit ALL hardware business
This needs to happen ASAP if IBM wants to survive. Hardware is bleeding money left and right, it's time to go (it's overdue though)...
Dow industrials finish more than 100 points lower as energy, IBM drag
IBM is a true albatross around the neck of the Dow. How long until they boot Big Bleu out of it? http://www.marketwatch.com/story/us-stocks-primed-to-edge-higher-as-earnings-stay-center-stage-2017-04-19 "IBM has an outsize impact because the Dow is... — read more
As Watson Falters, IBM Needs to Replace CEO Rometty
Pulling no punches! It's time to put Ginni out to pasture. And maybe even get some activist investors involved to leverage a hostile takeover. http://247wallst.com/technology-3/2017/04/19/as-watson-falters-ibm-needs-to-replace-ceo-rometty/... — read more
Why You Should Put IBM's Stock in the Garbage Can and Then Light It on Fire
https://www.thestreet.com/story/14092391/1/own-ibm-shares-dump-them-in-the-trash-and-light-it-ablaze.html Any granny or pop-pop sitting at home trying to decipher what IBM (IBM) said on its earnings call Tuesday evening would have a hard time -- most... — read more
The reason for IBM's performance
The company needs to get back to basics. Thomas Watson Jr. held IBM’s three basic beliefs; 1- Respect for the individual 2- superlative customer service 3- the pursuit of excellence in all tasks
Layoffs + Stock Buyback = 11% drop in Earnings Per Shae
Revenue down AGAIN. 5 years straight. Free cash flow less than half of a year ago. 14% reduction in S,G,&A (people), $1.3 Billion in stock buybacks, AND STILL Earnings Per Share down 11%. Constant layoffs including this latest "Co-location" joke... — read more
Bob’s Big Picture technology predictions for 2017
After this 1Q17 results announcement, it's well worth re-familiarizing one's self with Cringely's #6 Prediction, which he proclaimed in 1/2017: http://www.cringely.com/2017/01/09/15395/ "Prediction #6 — Come-to-Jesus time for IBM. The most important... — read more
IBM CFO says he's 'confident' that IBM will grow again
Amusing quotes for sure! http://www.cnbc.com/2017/04/18/ibm-cfo-says-hes-confident-that-ibm-will-grow-again.html "'The portfolio will grow. I am confident that the IBM company will grow again,' Schroeter said. 'We're taking time to make sure we... — read more
Link to IBM's 1Q17 charts (pdf, 241 KB)
https://www.ibm.com/investor/att/pdf/IBM-1Q17-Earnings-Charts.pdf Lots of figures in parentheses. . .
IBM Sales Miss Shows Return to Growth Not Without Roadblocks
Read the article, but also be sure to watch the ~4min. video on the right-side --> lots of discussion about previous, current, & potential (certain. . .) future headcount reduction... — read more
IBM CFO: We would encourage changes to H-1B Visa program
HA! HA! HA! Right. . ., sure they would. Ginni will do anything to placate Trump & keep her position on his advisory board, as she needs to make sure she's got something to do after she retires soon... — read more
How many employees does IBM have (as of today 4/18)
I'd like to contact the admins here and have them update that number of IBM employees they list in the company profile above. Not sure where to find this...
Share price
Look at the share price right now: $161. It's ~$10 drop from yesterday or even earlier this morning. http://www.marketwatch.com/investing/stock/ibm
Way to Go! Twenty quarters!
Way to go Ginny! You have yet again broken your own record string of falling revenue quarter by quarter. This while employees are being laid off, jumping off of buildings and hired from offshore for longer than most millenials have been alive . Must... — read more
Investors Are Giving IBM Too Much Credit
https://www.wsj.com/articles/investors-are-giving-ibm-too-much-credit-1492456825 International Business Machines Corp. needs to prove there is substance behind its big rally. Given the company’s stagnating fundamentals, that might be hard to do. Big... — read more
Some Firms Resist Handing Over Keys to the Boardroom
And here's why Ginni will continue to receive bonuses & raises, is in no danger of being forced-out, divestitures will continue, & more RA's will keep coming: the same drumbeat always persists at Big Bleu... — read more
IBM Shares Stumble Ahead of Earnings
First quoted paragraph below encapsulates it perfectly, but the whole article is worth reading. Can't wait to see how IBM massages their 1Q17 results. http://247wallst.com/technology-3/2017/04/15/ibm-shares-stumble-ahead-of-earnings/ "Wall Street... — read more
Currently on LTD
Been with the company 16 years, currently on LTD, which is hell in itself. They may get away with giving me no severance package. Treated poorly by my manager and the executives the entire time. Started as a physical injury and turned into depression... — read more
Watching IBM Post
Watching IBM has received a number of messages related to this incident. Our thoughts go out to the family. Please post anon. There was an incident today at the IBM Canada headquarters, at 3600 Steeles. In what appears to be a suicide, a man jumped... — read more
Kenya’s Tech Hub Gets a Makeover
"International Business Machines Corp. is training hundreds of Kenyan coders in Nairobi each year;" Sounds like they've been ramping-up yet another low-cost, offshore, workforce for awhile now... — read more
Ancient programming language COBOL can make you bank, literally
Something potentially positive if you're a COBOL programmer who was recently RA'd or had been RA'd at some point previous. . . https://thenextweb.com/finance/2017/04/10/ancient-programming-language-cobol-can-make-you-bank-literally/
IBM bear says free cash flow is overstated
A downward trend on the horizon. . . https://seekingalpha.com/news/3256406-ibm-bear-says-free-cash-flow-overstated "Apr. 10, 2017 12:40 PM ET After pulling out one-time items like a lower tax rate, Bernstein’s Toni Sacconaghi figures IBM's 2016 free... — read more
IBM is run on quarterly basis
Associating with IBM is a waste of valuable time in an IT professional's career. Now, the organization is run on quarterly basis. They have also started layoffs in IBM India. They retain people only in lower bands or people with avg salary less than... — read more
Credit Suisse forecast of IBM stock
Remember: 1Q17 results announced on 4/18. . . http://247wallst.com/investing/2017/04/08/credit-suisse-has-6-contrarian-stocks-that-could-fall-bigly/2/ "IBM This blue chip leader has had a solid rebound over the past year. International Business... — read more
California / Vacation Payout
Does anyone live in California? What happens to your vacation? I was under the impression that "if you don't use it, you lose it", but I read that, that was against the law. I had more than 2 weeks from last year which I thought I lost and more... — read more
Why is GBS laying off people that are staffed on clients and billable?
This is a honest question. It's puzzling. There is a thread on this below and we had two guys let go on my project (large Fortune 100 company, ~50 GBS folks on the project). Any ideas?
I realized that IBM was just a marketing organization with little substance
Writers sentiments and frustrations with IBM ring true with me. I was given an out by IBM in 2010 after 15 years in GBS. Have consulted as an independent since and enjoyed it since. IBM GBS was a pile of crap when I was there. All the bright managers... — read more
How artificial intelligence will affect your job
Don't worry, we're all being watched and tracked and everything we do is being recorded. "Products from Entelo, International Business Machines Corp. IBM, +0.01% and Workday, WDAY, -0.04% as well as Microsoft Corp.’s MSFT, +0.27% internal management... — read more
Why no managers or executives
Why are no managers or executives let go? They are the ones making the constant decisions on how the reorgs take place, change the comp plans and are doing nothing to motivate employees. These employees make more money then the sellers themselves... — read more
IBM RA today? [Reddit thread]
Another RA thread, this time from Reddit with some more reports on areas & amounts impacted -- https://www.reddit.com/r/IBM/comments/62edgg/ibm_ra_today/
Now they want me to work???
Got cut on 3/30. Cloud Sales Operations. 29 years of service, 55 years old. The worst thing is that I lost my retirement 16 years ago when they changed the retirement plan. Missed the age cutoff by 6 months - I was 39-1/2 when you had to be 40 to get... — read more
The Watson family should be ashamed
if i were the watson family...I would sue IBM to get the family name out of this business and off these overhyped useless products. the legacy will soon be "Watson killed IBM" and so did ginni and the board
Laid Off From GBS Last Friday
Have been on the Xcel Energy project since beginning of the year and was supposed to be on it until year end. So I was billable and making money for IBM, yet I get laid off. What sense does that make??? Also on the 90/30 plan, though I already have... — read more
We all got RA'd - Entire Department
30 years at IBM, STS Division, approximately 26-28 employees - rumor was we were all going to be co-located. Didn't happen - we all got RA'd - entire dept. I cut my manager off on our phone convo after 1minute of her reading from a script. Told her... — read more
Got Let Go Today
Also in Bill Kribbs (VP) organization, got the call on Friday. 55 years old, 90/30 plan. Happy it is done. Going to do some contracting and will make more money and I will be happier than working for that dumb IBM company, I believe 5 other... — read more
I got let go too, after 2.5 years of service, countless weekends, no bonuses or any appreciation
I got let go too, after 2.5 years of service, countless weekends, no bonuses or any appreciation, IBM s---s big time. What bothers me is that they waste money left and right, and they dont care but they gladly cut people off to save some $$. Last few... — read more
Changed sales and technical sales commission targets
IBM revamped it's sales and technical sales commission targets to be based on employee salary. That approach allowed IBM to target senior, higher earning, employees by positioning them in accounts that had zero or low history of purchase and thus... — read more