Major Setback for IBM in the Courtroom, the Demolition of IBM is Proving Costly
"The IBM Demolition is Down to the Last Shards!" (as covered last year [1, 2]); more facilities in that state head in a similar direction after layoffs and offshoring
"Watch for another big charge to hit the balance sheet soon," said someone earlier today, citing this report from Jillian McCarthy (Binghamton Press & Sun Bulletin). To quote:
The Village of Endicott's lawsuit against IBM alleging water well contamination will move forward following a federal court ruling.Endicott, the birthplace of the technological manufacturing company, filed a lawsuit against IBM in December 2024 calling for financial compensation, alleging the company's actions contaminated the village water supply with toxic substances in the soil and groundwater, which have since entered the village's water supply wells, forcing them to be shut down.
The lawsuit was filed nearly a decade after IBM reached a settlement with 1,000 plaintiffs stemming from toxic spills at the company's former Endicott manufacturing plant, which was demolished in 2025. In a decision released on May 6 by the U.S. District Court Southern District of New York, a federal judge determined the village can move forward with several of the claims made in its lawsuit against the company.
So IBM stands to lose a lot of money even by self-destructing.
Epic and poetic.
"IBM playbook been the same from Sam, to Ginni, to Alvind," someone wrote a few hours ago. "Talk fancy about numbers but in truth they kept getting more and more in debt, destroying the companies they brought" (as usual).
This is what it did to Red Hat. Months ago it fired 400+ Red Hat engineers (many are - or were - kernel developers) and this was 2 hours ago:
IBM... the usual:
"IBM sold its call center BPO unit to Synnex and their mortgage servicing unit Seterus to another buyer," another comment said. "They probably should have included the AMS business in the Kyndryl spinoff. These outsourcing businesses that you call "perform" are like hydras that keep regrowing every time they get cut off. As much as Ginni derided them as "empty calories", which they are, they sure come in handy when IBM has a revenue shortfall because they allow IBM to "buy revenue" to report to the street even though it's all just passthrough."
This "buy revenue" narrative quite likely means the poster reads Techrights. We know many in IBM read us and share the word/s.
Kyndryl is a sign of how IBM ("mother ship") is run and where IBM is heading. Kyndryl is where IBM buried "toxic waste" - to the point where Kyndryl's debt may soon be double the worth (or alleged worth) of the whole company, where they now have difficulties paying workers their salaries. █