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wndysrf

Way Too Big To Fail

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10 days ago IBM announced they would create 50,000 jobs this year at the time I posted Big Screw spoke with forked tongue-and they did-CNN is reporting 45,000 of those jobs will be outside the U.S. Can't you feel the LUV-Trade Safe! B)

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Doc.........I am using DISCOUNTING mechanism here in

context that the "Pooled" crooks have plausable cover story

for ...investors.......concerned by a correction..........................

 

and ergo built in ..."story"..to take it back up next quarter..IF

earnings come through.......again..........................................

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yep. That's it. We agree.

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Got this e-mail with similar smileys:

 

Thought for today

 

There is more money being spent on breast

implants and Viagra than on Alzheimer's research.

 

:cry:

 

This means that by 2020, there should

be a large elderly population with

perky boobs and huge erections and

absolutely no recollection of what to do

with them.

 

:)

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There were too many layoff reports for ibm to list all :(

IBM Plans to Add 15,000 New Jobs World-Wide

DOW JONES NEWSWIRES

Associated Press

ARMONK, New York -- On the heels of strong earnings reports, International Business Machines Corp. (IBM ) announced Saturday that it will add 15,000 jobs world-wide.

About 4,500 new hires will be made in the U.S., primarily tied to high-growth areas such as software and services, company officials said. The remainder of the jobs will be in emerging markets such as China and India and in Europe.

The job additions were 50% more than company projections

IBM Corp. cut 1,000 U.S. jobs in its services division,

Approximate Affected Workforce: over 1000

Source: Los Angeles Times - July 3, 2001

Facing a stubborn slowdown in the microprocessor industry, IBM Corp. announced Wednesday it would cut about 1,000 jobs from its seven U.S. chip manufacturing and development plants and another 180 jobs at a storage technology plant in Minnesota. Approximate Affected Workforce: over 1000

Source: AP Online - November 29, 2001

 

IBM Corp. is slashing 300 software jobs in a realignment of resources that has been happening periodically at the technology titan, executives said Wednesday.

Approximate Affected Workforce: 101-500

Source: The Associated Press - January 7, 2004

 

IBM Corp. is cutting about 200 jobs in its software division as part of an effort to streamline operations. Approximate Affected Workforce: 101-500

Source: The Associated Press - November 20, 2003

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There were too many layoff reports for ibm to list all :(

 

hiring off-shore in advance of on-shorelay-offs. some poor shrub gets to train his eventual replacement. watch and see :ph34r:

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I made an earlier post which no one has responded to. It was about the possibility of a major event hitting us again here at home, and what the likely result would be to the markets and the American Psyche.

 

Plunger , my wish would be for this to collapse for other reasons than a tragedy though it is possible they way the world is wired now,,,, I want the blame to land on speculative gluttony and the reckless behavior thats put us in this place in time,,,I want no "excuses" for these people who change rules on the fly to suit their agenda, lie, steal and cheat, and continually blame their failings on external events ...

 

Doc..."discounting" is pure propoganda....Case in point...why is it during selloffs prices immediately discount the bad news but earnings growth can be discounted to any year the shills wish in order to justify absurd equity prices...i've seen em use 2007 already ...

.

Ag

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No wonder IBM gapped up last week, knowing the truth of "new" jobs created would be out this week during the holiday, now IBM can gapdown and it's not gonna hurt so bad and they'll still keep it above $90..

 

My wife had some new RE fish this weekend, a poor overcrowded immigrant family who's eager to buy real estate in the expensive north shore of Chicago... she's makes the call today as she didn't have time to talk to them Sunday... has to call the sun at work, the sun works at Duncan Donuts!!! Hello, when family's working at poor service sector jobs are hot to buy RE, this is just like taxi drivers and secretaries buying $100 tech stocks in 1999... uneducated in the very areas they want to invest are plunging in with little fear.... there will be no one left to buy RE soon as anyone who CAN"T afford to buy has already bought and the Saavy has soldit to them knowing they will buy it at 1/2 price or lesss back down the road...

 

I don't own a home right now and despite my wife's eagerness, I'm fending off her inclinations to be chained to a mortgage when I also work for Big Blue as a tech dude...

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There were too many layoff reports for ibm to list all :(

Met with a former HR employee at a Fortune 500 company poolside in South Beach over the weekend. Learned first-hand how they are "very quietly" eliminating the executive positions and replacing with some temp fools who will run the place into the ground. The Short-Term "make the number" thinking at all corporations is hitting the vertical stall limit. When these companies implode as a result of gross mismanagement, leading to untold lawsuits...go long lawyers. This particular company has a rubber-stamp good ol' boy Board that worships the CEO...who happens to be a baffoon, and they'll all deserve to get what they've earned.

 

Just imagine how profitable they'll all be with NO EMPLOYEES!

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Jim Rogers just on with Maria Fartaromo.

Sticks to his usual:

US dollar still has a few years of decline ahead of it, he's bearish as ever.

Likes Aussie$ and Canadian $ but says all currencies are bad just different degrees of badness but stick with those that have strong commodity resources, low gov and trade deficits, politically stable.

Selling short U.S. equities especially the financials! Looked right at Maria and said "including your company!" I loved it!

Long commodities of course, did not mention gold specifically.

Also long asian markets, long term believer in rapid Chinese economic ascendency.

Said Greenspan is a money printing genious and succeeded in giving Bush re-the election! Thinks 2005 will be the year things will turn very ugly.

post-7-1074562172.gif

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IBM's Ministry of Sanitization

http://online.wsj.com/article/0,,SB1074386...3319800,00.html

 

IBM Documents Give Rare Look

At Sensitive Plans on 'Offshoring'

 

When Shifting Jobs Abroad,

It's $12.50 vs. $56 in Pay,

And 'Sanitize' the Memos

By WILLIAM M. BULKELEY

Staff Reporter of THE WALL STREET JOURNAL

 

In a rare look at the numbers and verbal nuances a big U.S. company chews over when moving jobs abroad, internal documents from International Business Machines Corp. show that it expects to save $168 million annually starting in 2006 by shifting several thousand high-paying programming jobs overseas.

.

.

Like other high-tech companies, IBM is moving knowledge work to cheap-labor sites outside the U.S. This "offshoring" process has raised fears that even high-skill jobs that were supposed to represent the U.S.'s future are being lost to countries that have already taken over low-skill factory work.

.

.

The IBM documents show that the company is acutely aware of the sensitivities involved. One memo, which advises managers how to communicate the news to affected employees, says among other things: "Do not be transparent regarding the purpose/intent" and cautions that the "Terms 'On-shore' and 'Off-shore' should never be used." The memo also suggests that anything written to employees should first be "sanitized" by human-resources and communications staffers.

.

.

The plan would move jobs from U.S. locations including Southbury, Conn.; Poughkeepsie, N.Y.; Raleigh, N.C.; Dallas; and Boulder, Colo. IBM plans to transfer the programming work to its own operations in Bangalore, India; Shanghai and the northeastern city of Dalian in China; and Sumare, Brazil. It isn't clear how many jobs will be added in each location.

.

.

In the draft script prepared for managers, IBM suggests the workers be told: "This action is a statement about the rate and pace of change in this demanding industry. ... It is in no way a comment on the excellent work you have done over the years." The script also suggests saying: "For the people whose jobs are affected by this consolidation, I understand this is difficult news."

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