Is there any new business? I'm not talking about deals like the Bank of Uzbeinvek or other garbage like that. Does anyone work in Business Development anymore?
6 replies (most recent on top)
Nope!!
IBM wins reversal of $1.6 billion judgment to BMC over software contract
April 30, 2024
April 30 (Reuters) - A federal appeals court on Tuesday overturned a judgment requiring IBM (IBM.N), opens new tab to pay rival BMC Software $1.6 billion, after a judge found IBM improperly replaced BMC's mainframe software at AT&T (T.N)
, opens new tab with its own.
The 5th U.S. Circuit Court of Appeals in New Orleans said a lower court judge's determination concerning liability was in error. Writing for a three-judge panel, U.S. Circuit Judge Edith Jones said AT&T, one of BMC's biggest clients, had switched to IBM software "independently" and that BMC had "lost out to IBM fair and square."
Tuesday's ruling overturned U.S. District Judge Gray Miller's 2022 decision that IBM owed BMC $1.6 billion in damages for breaking their agreement
https://www.reuters.com/legal/ibm-wins-reversal-16-billion-judgment-bmc-over-software-contract-2024-04-30/
IBM has a 1.4 billion judgement against them right now. IBM is appealing. A company called BMC sued them back in 2019 or there abouts. Apparently IBM and Kyndryl are getting ready to either go to arbitration or litigation. The speculation is around, IBM expects Kyndryl to pick up part of this tab. Also the other issue is Kyndryl was created, after IBM received this judgement against them. So the question being asked and circulated is did IBM create Kyndryl to hide or reduce it's assets from liability. Kyndryl could be on the hook for some of this judgment. It's real simply the argument that will be made is IBM used BMC monies in order to create a new corporate entity (Kyndryl).
You have wrong understanding of business. It's not about how many customers you have but how many services you can sell to these customers you already have. And here it's going well.
Quick answer is no. Right now Kyndryl is scraping the mayo jar.
I dunno about current practices, but back in the day IBM loved to announce new outsourcing agreements. Big contracts, small contracts, it didn't matter...IBM GTS touted new contract signings as major successes (which, to be fair, they were). It's like a financial institution bragging about their AUM (assets under management) numbers...more customers is GOOD. More customers that Kyndryl could brag about to the world would be EVEN BETTER.