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    Highlights for week ending June 3, 2000
  • If you read nothing else this week, at least look at an opinion piece from CBS MarketWatch. See IBM's Gerstner: Pay for performance?

  • 1,500 Layoffs in IGS, 45% from Education Services. Further trouble ahead for IGS

  • Worldwide IBM layoffs since 1990 number 415,000 (See also)

  • Lou Shadow discusses destruction of the IBM brand, compares IBM to Arbeit Macht Frei

  • The sum total of what you dealing with here is the largest financial scandal in US history--one that easily topples the next largest the S&L scandal. That one only cost a couple hundred billion. This one is a multiple of that one--and hurts people far more. Link. This post is from Andy Lang, a 60-year old retired actuary who is bringing light to the corruption of his field, and is advocating changes in pension law to return pensions to their original purpose...providing for the retirement of employees...not shoring up profitability through phantom profits. Andy maintains his own Yahoo discussion forum at http://clubs.yahoo.com/clubs/andylang

  • An excellent article explaining the differences (pros and cons) between traditional defined benefit (DB) pensions and new defined contribution (DC) pensions, including possible litigation issues involved in the transition from DB to DC plans. See Litigation Issues in Cash Balance Plans. Note that litigation against IBM is one of the avenues being explored to restore stolen pension benefits to IBM employees. This article suggests what some of the grounds might be for the class action law suit being filed against IBM. (Other avenues to restoring pension benefits include legislative and union organizing paths).

  • H-1B visas, opinion on why they're popular with Corporate America

  • The Alliance@IBM Site has been updated--excellent site!

  • Another selloff: Solectron to buy IBM Brazil operations. CPR comments on this sale.

  • Seagate's pacts with Veritas show how tax avoidance can save lots more for shareholders than manufacturing can make for them. See Newsweek article.

  • The temptation to fiddle on tax by Lou Shadow (Part 1), (Part 2)

  • Never since the days of DPD and GSD have I seen IBMer versus IBMer. The inter-generational warfare and distrust is now filtering out in front of customers.

  • Debunking the Myth of a Desperate Software Labor Shortage, Testimony to the U.S. House Judiciary Committee Subcommittee on Immigration by Dr. Norman Matloff, Department of Computer Science, University of California at Davis. An excerpt:

    "Some applied for similar jobs at Siemens that opened up after the layoffs, but they were unable to even get interviews, according to the plaintiffs' attorney, Stephen Snyder. The Equal Employment Opportunity Commission has sided with the workers. In a 'letter of violation' sent to Siemens in 1997, the EEOC said it found 'reason to believe' that age discrimination had occurred. According to the EEOC, the layoffs that included 11 former employees unfairly targeted older workers. 'The termination rate disproportionately affected software engineers over 40, resulting in the termination of 21 percent of the software engineers over 40, and only 2 percent of the software engineers under 40...'"

    "Mr. Snyder, the attorney representing the Siemens plaintiffs, said his clients were unable to find work after they were laid off, despite years of experience. One became a bus driver."

  • An editorial in the Dallas Morning News by Michael Kinsley that criticizes George W. Bush's plan to change Social Security.

  • Boeing attrition rates up to 5 times normal

  • AT&T begins outsourcing thousands to IBM. An excerpt: "Older programmers are unhappy about the switch, because it means they will have to put in as many as 15 years at IBM before they qualify for the kind of lifetime retirement benefits they would have been eligible for at AT&T under a much shorter schedule."

    ''Between AT&T and IBM, they cost me my retirement-related benefits," said one 51-year-old programmer who will move to IBM next month. "If I was a younger man -- 41 instead of 51 -- it's not such a bad deal. The older folks are going to bite the bullet on this one." ..."Except for union members, those who refuse to accept the new assignment will be fired." (Join the Alliance@IBM today!)
"The test of our progress is not whether we add more to the abundance of those who have too much; it is whether we provide enough for those who have too little." — Franklin D. Roosevelt
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