Government Bailouts Won't be Enough to Save IBM
Bailouts from taxpayers in the US, which cannot even afford to feed its vulnerable citizens and is paying 1.2 trillion dollars per year just for interest on the national debt (not counting interest for personal and business debt), ought not be a priority. But when oligarchs and their companies dominate national policy and literally buy all the key politicians they can steer what's left of the (borrowed) money into their personal bank accounts and corporate coffers. IBM has just received some money for vapourware ("for quantum computing initiatives," based on an IBM-sponsored puff pieces/fake news site). We don't know what exactly that means except a pledge, but that was enough for IBM to distance itself from the 52-week low.
Nevertheless, the job losses carry on and many spoke about this in public on Friday afternoon/night at Microsoft's LinkedIn, e.g.:
IBM saying something something something about "quantum" and something something something "hey hi" (AI) isn't new. It might be good for the stock, but the company will be just something something layoffs.
It should be noted that an IBM nemesis, Robert X. Cringely, has just returned to blogging after a 3-year hiatus. Let's see what he has to say about IBM's fate. █