What IBM teaches about open source

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IBM is not "generous" to its employees.

Here's how IBM gains $3 billion over 2-3 years by cutting off its employees pensions:

Quoting:

IBM said it would freeze its traditional defined-benefit retirement plans as of 2008. This means any additional benefits workers in these plans were hoping to accumulate after 2008 simply vanish. An IBM spokesman says the company has to roll back its more costly defined-benefit plans because so many competitors in the software sector don't offer them.
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IBM estimates it will save $3 billion by 2010 because of the changes.

http://articles.moneycentral.msn.com/Investing/CompanyFocus/CEOsCutPensionsPadTheirOwn.aspx

Here, from an article titled "3 CEOs who ought to go" is reassurance that Mr. Palmisano will personally put that money to good use in his own pension:

IBM Corp. (IBM, news, msgs) CEO Samuel Palmisano received $65.5 million in salary, bonuses, restricted stock, options, long-term incentive pay and other compensation in 2003-05. He also has a pension that will pay at least $1.2 million a year.

Shareholders have not done nearly as well. They are up 19% in the past 12 months, but over the past five years, they are down about 18%.

http://articles.moneycentral.msn.com/Investing/CompanyFocus/3CEOsWhoOughtToGo.aspx


That's just one example, among a number.

For instance, there's a question about IBM's liability for employees exposed to poisons...

There's a lot of ruthlessness in IBM's backstory.


And as for the strongest balance sheet...
Seen what Microsoft revenues have been and how they've grown over the past few years?

Maybe IBM would do better if the company actually paid the people who produce the software the company exploits for profits.

Posted by: Anton Philidor   Posted on: 05/15/07 You are currently: a Guest | Members login | Terms of Use

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