With Ginni deciding to step down and taking a board position this is legalized organized crime at it’s finest. Driving the company revenue down from 104b down to 77b. Cooking the books to show cloud growth by combining and removing Other revenue categories to simulate a narrative , acquiring red hat rather than partnering with them and all the while cashing in. Let’s see what her acquisition bonus looks like PLUS her payout the two new leader she appointed will give her on her way out. It’s disgusting. Grow the company by leaps and bounds fine...but drive it into the ground and still get reawarded? Last year her private jet cost the company 1 million $ alone while she cut business class travel for the rest of the company during her tenure. Getting a substantial raise not long ago on shrinking revenue. Senior leadership with cushy jobs, vp and higher, get shuffled around even when they fail. Not fired but instead they get a new job to fail at. Ask warren buffet how he feels when he says she was a liar in apolitically correct way, she resigns the stock makes one of its biggest positive move in years. She did more for companies like amazon and Microsoft during her tenure with ibm with horribly executed strategies than she did for ibm. All the while The ibmers who have dedicated their life’s executing on her direction get blamed for...executing her direction. Sell, sell, sell is not a sales strategy. Generating 40%- 60% sales growth targets with quotas for the sales teams while the ceo gets rewarded for shrinking revenue numbers. Those large quotas are there to make sure no one hits their target so ibm can pay their people less. This way they minimize their RA’s and maximize people leaving the company. What they don’t realize is the folks that leave the company on their own are the ones who have legitimate capabilities and the ones that stay for this are not top tier talent. Where’s the justice. Pay careful attention to the finances around Ginni’s exit- it will be an epic pay out! Congratulations Ginni....you will be known and the person who drove the dagger in to the company that is closer to death than ever before. Gone but never forgotten
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IBM realizes they’re can’t compete storage wise with their competitors. They have almost no manpower left to pitch the IBM storage message due to saving their way to prosperity. They have decided to sell storage and IP the technology. YES they will allow the labs to continue to work on new things, as THATS where the purchaser will value buying IBM storage. IBM will cut a Global foundries type of deal. They will guarantee whoever buys storage their cloud business while both invest in the labs research.
IBM has cut all development in software for it storage products. Is is closing this business down as well?
Ginni is a real Eagle....
Still plenty of IBM sheep who are trying to do the Agile thingy lol
Right now IBM is definitely not prepared to ride out the next recession. The house of cards will collapse and IBM's corpse will be picked over by other companies.
Disgusting indeed.
Meanwhile, the post-announcement pop in the stock is over and it's heading back towards it's recent level of $130-135. IBM's problems go well beyond the CEO.
A senselessly lost decade. Ginni's CAMSS vision was stillborn.
Her legacy is an empire of bureaucrats and wide-eyed youth.
Is CAMSS.2 stillborn too?
The numbers speak for themselves...
Wow! Now how do you REALLY feel about Ginni's leadership?