Thread regarding IBM layoffs

I have lived in "IBM Country;" i.e. the Hudson Valley in New York, for over thirty years. To be clear, I am an Engineering professional, but I have never worked for IBM.

IBM had a stranglehold on the local economy for decades, beginning in the early 1960's. This dominance extended into the local real estate and small business sectors, as IBM employees were regarded as the special annointed ones and enjoyed perks and petty donut-shop discounts that were not available to 'outsiders.' During IBM's local heyday, and prior to the early 1990's blood-bath, non-IBM'ers were very much made aware of their outsider status in the community.

The depth of IBM's corporate arrogance permeated down through many of their employees. I sensed that their was a feeling of infalibility and entitlement with most of the IBM'ers I met, a few of whom are lifelong friends of mine. I don't think they even regarded themselves as employees of IBM; they thought of themselves as privileged to be a part of something greater than anything a mere working person could understand.

I saw it manifested many times when I coached CYO basketball, soccer, and Scouting. The IBMer dads (and a few moms) would ignore what their kids were doing and were busy ba----g away on their laptops, as if the rest of us were supposed to be impressed with their work ethic. It annoyed me to no end.

Oh well. In the end, Big Blue threw all of you under the bus.

IBM is like Cuba, the masses, employees and clients have had enough of the GR and AK financial engineering. Take back our company from the greedy do nothing executives✊

@1wqf+1bLTkyZI

That sounds like a call to try to unionize again... or may just start a revolt against management... Count me in either way!

"Isn't that 'ingrained' in human nature?"

Yes it is, but if the CEO is pocketing company and in essence shareholder money, then the board should apply the brakes. I think books will be written about why that did not happen in IBM's case. Buffett and Bogle, both astute observers of company board matters told us what they thought of it.

Earlier, I was proud of my relationship with IBM, less so today.

"Purely a means to fill the pockets of a few, at the cost of the masses."

Isn't that 'engrained' in human nature? Times do not change, it will always be the same. Either you work to be part of the few, or you are part of the masses... sometimes though masses do revolt... and few suffer...

Heads up IBMers!

GR announced a goal of $20 EPS with no plan to achieve it
then subsequently had to abandoned it. Buffett fell for the EPS.

GR was horrible 👎…same fu----g bu-----t every time she opened her mouth

why then did he buy IBM stock? Answer past his prime as an investor they give good returns not based on performance. they are keeping the shareholder happy as the execs are paid with lots of shares, keep that up as long a possible

"We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly – or not at all – because of a stifling bureaucracy," Buffett said.

Spot on!

Even the late Jack Bogle (founder of Vanguard) found the financial engineering taking place under the helm of GR distasteful and certainly not in the interest of clients, employees or even the shareholders.

Purely a means to fill the pockets of a few, at the cost of the masses. And maybe that was the straw that broke the camels back w/o a means for IBM to ever recover again.

Incredible, she is still getting paid by the IBM board.

@1svc+1bLTkyZI Buffet realized his mistake and sold his
IBM stock
https://www.cnbc.com/2018/05/04/warren-buffett-says-berkshire-hathaway-has-sold-completely-out-of-ibm.html

Ginni was the most arrogant CEO I've ever worked under. She thought she knew everything. She missed cloud. She missed SaaS. We will most likely never recover from her reign of te---r.

why then did he buy IBM stock? Answer past his prime as an investor

No surprise there... we all know IBM is doomed!