We Are Witnessing the End of IBM
The company has been (or is being) replaced by de facto "scabs"
IBM is a dying company. If you do not agree, then clearly you're not paying attention and haven't paid attention. Heck, listen to insiders. They themselves understand what's happening and Red Hat workers envision the end of Red Hat. The wheels are in motion already.
The main remaining inquiry is, "WHY?" Or "who's to blame?"
Consider some new comments from insiders and former insiders. Today they mock the false promises (if not worse) from the CEO, who keeps promising things IBM won't deliver. "Such a big advantage and we are so confident we had to go and buy a back up plan (HRL). Something isn’t right here," someone wrote yesterday about "quantum" (IBM buying other companies to fake having "quantum" "assets"). Somebody else responded: "I expect some clever marketing statements and no follow through. Same old song and dance."
They're talking about the latest "pump" (and dump) from Jim Cramer, the go-to pumper of IBM's CEO.
"The bullsh-t starts from the top and rolls downhill," someone noted. "I actually think our managers and their managers are worse," someone else said. "They know better but just let it go and tow the company line. When did IBM management become such a joke? It was once very respectable I actually think our managers and their managers are worse. They know better but just let it go and tow the company line. When did IBM management become such a joke? It was once very respectable I actually think our managers and their managers are worse. They know better but just let it go and tow the company line. When did IBM management become such a joke? It was once very respectable..."
"IBM management is an industry joke now," somebody responded (those are insiders). "Stopped being premium in the early 90s. All the managers now are coasting in two decades old reputation that is rapidly running out of runway. The current ones will be remembered as the ones that ki-led a 115 year old blue chip institution..."
On "Jim Cramer Mad Money With AK" someone else wrote: "More hype and buzz. It feels different now as the general public are on to our little tricks..."
"If it fails by 2028-29 all of these leaders need to be held accountable," someone else had said.
Nobody is ever held accountable in IBM's management.
As someone else put it: "IBM couldn't even foresee the impending disaster of its most important business (MF) just one quarter away. No one cares what IBM says."
The boy who cried "wolf" with false promises, vapourware, and financial/accounting fraud?
"Not unique to IBM," someone uttered about the lack of experienced talent (IBM gets rid of those people, they are "expensive"), "but yes, this is the game the Elite Human Capital plays. Infest a company, hollow it out from the inside by replacing it with their countrymen. The company invariably collapses and dies, but they farm a lot of izzat and resources for themselves and the subcontinent, so who cares? There's always another company."
Another one said: "This whole H1B narrative has been a disaster and really has diminished IBMs value, morals and overall reputation. Today’s IBM is not the beloved one of the past and has a large part to do with H1B polices..."
IBM cannot find growth by moving downwards, by lowering standards. The goal is to just rob what's left of the company for self-enrichment at the top. █