Here's a guy that really gets it. He actually looks at the numbers and analyzes, rather than just blindly regurgitating the BS and spin from Rometty and Schroeter, as CNBC, Motley Fool, and so many others do. "It's going to be a great cruise, once we get this ship steered around that iceberg dead ahead, folks!" What are they going to do next quarter, when they don't have a US$1Bn tax credit to cover up their 87 cent true EPS? Debt is accumulating too fast, fewer and fewer people to purge, can't afford to buy back much more stock, Buffet is finally starting to acknowledge his mistake, and still here in 2Q nobody is buying what they're selling. The end looms nearer and nearer.
IBM has the nerve to say they have to 'rebalance' the workforce by firing and then hiring from outside, and then say there "aren't enough skills." Well, clearly people with high performance ratings are being fired, so why they hell aren't you retraining them. It's extremely affordable, much moreso than paying to fire people, buying back all of your stock, the financial shenanigans, etc. Great discussion of the RAs and shrinkage in this article. http://seekingalpha.com/article/3967728-reasons-avoid-ibm-relevance-overall-market