27-Year IBM Veteran on IBM: "Worse than the Titanic and Perhaps Just Like Madoff, Enron, etc."
Earlier today:
A few minutes ago the market in New York City (ET) opened. IBM is down again:
In spite of attempts to lift up the fast-falling stock with more fake news (paid-for puff pieces [1, 2]), IBM's downward journey carries on and people dish out in light of the latest fake news from WSJ (WS for Wall Street, a rag owned by a manipulative billionaire, Rupert Murdoch [1, 2]).
One new comment said: "All this is going to mean to the IBM employee is more pressure, more PIPs, more RA’s. When your captain is this much of a failure, there is no saving your ship. In this case, the captain will be in the first lifeboat off along with his golden parachute while he and his minions destroy employees and their families. There is a special place in he-l for him."
"Thank you for posting," somebody soon responded. "My 27 years at IBM starting in the early 80s: There is not 1 single thing left at IBM that works. Internal support absolutely bites. Hello AskIT, AskHT, AskBob. Everything has been off shored to places people cannot find on a map. They hire based on looks and race and skin color. They no longer know what customers want nor have relationships to ask. They no longer make anything but just resell the fruits of the companies they buy. They think there is no $ in hardware. Hello AMD and NVIDIA! Everything they do is coin operated on what McKinsey tells them. The arrogance is stunning. I would bring back the Speak Up and Open Door pgms Gerstner wiped out. In fact I would make it mandatory every 1st line mgr make everyone submit 1 thing a week and then discuss them as a team monthly. The employees are just like The Walking Dead. Way too may IBM execs suffer from the Peter Principle as well as The Emperor has no clothes. I do hope a hostile takeover occurs and they are split up once and for all. Worse than the Titanic and perhaps just like Madoff, Enron, etc."
At the moment IBM has serious legal issues; it has a legal obligation to tell shareholders truth and several comments we saw today envisioned the CEO of IBM in an orange suit (in US prison). A circus of buzzwords cannot fool all the shareholders all the time. █
Image source: Madoff in his 1956 high school yearbook
