Welcome to IBM Employee News and Links
"News and links for IBM employees, retirees, ex-employees, and persons interested in pension, retirement, off-shoring and corporate governance issues."
Search:
Web This Site

Quick Links:
  Get involved!
  Press articles
  Important Links
  Insider trading
  Lou's Contract
  Total Compensation
Subscribe:
  Add or delete ID
  Change ID
  Contact site owner
Previous Highlights:
  Current
  April 21, 2007
  April 14, 2007
  April 7, 2007
  March 31, 2007
  March 24, 2007
  March 17, 2007
  March 10, 2007
  March 3, 2007
  February 24, 2007
  February 17, 2007
  February 10, 2007
  February 3, 2007
  January 27, 2007
  January 20, 2007
  January 13, 2007
  January 6, 2007
  December 30, 2006
  December 23, 2006
  December 16, 2006
  December 9, 2006
  December 2, 2006
  November 25, 2006
  November 18, 2006
  November 11, 2006
  November 4, 2006
  October 28, 2006
  October 21, 2006
  October 14, 2006
  October 7, 2006
  September 30, 2006
  September 23, 2006
  September 16, 2006
  September 9, 2006
  September 2, 2006
  August 26, 2006
  August 19, 2006
  August 12, 2006
  August 5, 2006
  July 29, 2006
  July 22, 2006
  July 15, 2006
  July 8, 2006
  July 1, 2006
  June 24, 2006
  June 17, 2006
  June 10, 2006
  June 3, 2006
  May 27, 2006
  May 20, 2006
  May 13, 2006
  May 6, 2006
  2006 Stock Meeting
  April 22, 2006
  April 15, 2006
  April 8, 2006
  April 1, 2006
  March 25, 2006
  March 18, 2006
  March 11, 2006
  March 4, 2006
  February 25, 2006
  February 18, 2006
  February 11, 2006
  February 4, 2006
  January 28, 2006
  January 21, 2006
  January 14, 2006
  January 7, 2006
  December 31, 2005
  December 24, 2005
  December 17, 2005
  December 10, 2005
  December 03, 2005
  November 26, 2005
  November 19, 2005
  November 12, 2005
  November 5, 2005
  October 29, 2005
  October 22, 2005
  October 15, 2005
  October 8, 2005
  October 1, 2005
  September 24, 2005
  September 17, 2005
  September 10, 2005
  September 3, 2005
  August 27, 2005
  August 20, 2005
  August 13, 2005
  August 6, 2005
  July 30, 2005
  July 23, 2005
  July 16, 2005
  July 9, 2005
  July 2, 2005
  June 25, 2005
  June 18, 2005
  June 11, 2005
  June 4, 2005
  May 28, 2005
  May 21, 2005
  May 14, 2005
  May 7, 2005
  April 30, 2005
  April 23, 2005
  April 16, 2005
  April 9, 2005
  April 2, 2005
  March 26, 2005
  March 19, 2005
  March 12, 2005
  March 5, 2005
  February 26, 2005
  February 19, 2005
  February 12, 2005
  February 5, 2005
  January 29, 2005
  January 22, 2005
  January 15, 2005
  January 8, 2005
  January 1, 2005
  December 25, 2004
  December 18, 2004
  December 11, 2004
  December 4, 2004
  November 27, 2004
  November 20, 2004
  November 13, 2004
  November 6, 2004
  October 30, 2004
  October 23, 2004
  October 16, 2004
  October 9, 2004
  October 2, 2004
  September 25, 2004
  September 18, 2004
  September 11, 2004
  September 4, 2004
  August 28, 2004
  August 21, 2004
  August 14, 2004
  August 7, 2004
  July 31, 2004
  July 24, 2004
  July 17, 2004
  July 10, 2004
  July 3, 2004
  June 26, 2004
  June 19, 2004
  June 5, 2004
  May 29, 2004
  May 22, 2004
  May 15, 2004
  May 8, 2004
  2004 Stock Meeting
  April 24, 2004
  April 10, 2004
  April 3, 2004
  March 27, 2004
  March 20, 2004
  March 13, 2004
  March 6, 2004
  February 28, 2004
  February 21, 2004
  February 14, 2004
  February 7, 2004
  February 1, 2004
  January 18, 2004
  December 27, 2003
  December 20, 2003
  December 13, 2003
  December 6, 2003
  November 29, 2003
  November 22, 2003
  November 15, 2003
  November 8, 2003
  November 1, 2003
  October 25, 2003
  October 18, 2003
  October 11, 2003
  October 4, 2003
  September 27, 2003
  September 20, 2003
  September 13, 2003
  September 6, 2003
  August 30, 2003
  August 23, 2003
  August 16, 2003
  August 9, 2003
  Pension Lawsuit Win
  July 26, 2003
  July 19, 2003
  July 12, 2003
  July 5, 2003
  June 28, 2003
  June 21, 2003
  June 14, 2003
  June 7, 2003
  May 31, 2003
  May 24, 2003
  May 17, 2003
  May 10, 2003
  2003 Stock Meeting
  April 26, 2003
  April 19, 2003
  April 12, 2003
  April 5, 2003
  March 29, 2003
  March 22, 2003
  March 15, 2003
  March 8, 2003
  March 1, 2003
  February 22, 2003
  February 15, 2003
  February 8, 2003
  February 1, 2003
  January 25, 2003
  January 18, 2003
  January 11, 2003
  January 4, 2003
  December 28, 2002
  December 21, 2002
  December 14, 2002
  December 7, 2002
  November 30, 2002
  November 23, 2002
  November 16, 2002
  November 9, 2002
  November 2, 2002
  October 26, 2002
  October 19, 2002
  October 12, 2002
  October 5, 2002
  September 28, 2002
  September 21, 2002
  September 14, 2002
  September 7, 2002
  August 31, 2002
  August 24, 2002
  August 17, 2002
  August 10, 2002
  August 3, 2002
  July 27, 2002
  July 20, 2002
  July 13, 2002
  July 6, 2002
  June 29, 2002
  June 22, 2002
  June 15, 2002
  June 8, 2002
  June 1, 2002
  May 25, 2002
  May 18, 2002
  May 11, 2002
  2002 Stock Meeting
  April 27, 2002
  April 20, 2002
  April 13, 2002
  April 6, 2002
  March 30, 2002
  March 23, 2002
  March 16, 2002
  March 9, 2002
  March 2, 2002
  February 23, 2002
  February 16, 2002
  February 9, 2002
  February 2, 2002
  January 26, 2002
  January 19, 2002
  January 12, 2002
  January 5, 2002
  December 29, 2001
  December 22, 2001
  December 15, 2001
  December 8, 2001
  December 1, 2001
  November 24, 2001
  November 17, 2001
  November 10, 2001
  November 3, 2001
  October 27, 2001
  October 20, 2001
  October 13, 2001
  October 6, 2001
  September 29, 2001
  September 22, 2001
  September 15, 2001
  September 8, 2001
  September 1, 2001
  August 25, 2001
  August 18, 2001
  August 11, 2001
  August 4, 2001
  July 28, 2001
  July 21, 2001
  July 14, 2001
  July 7, 2001
  June 30, 2001
  June 23, 2001
  June 16, 2001
  June 9, 2001
  June 2, 2001
  May 26, 2001
  May 19, 2001
  May 12, 2001
  May 5, 2001
  2001 Stock Meeting
  April 21, 2001
  April 14, 2001
  April 7, 2001
  March 31, 2001
  March 24, 2001
  March 17, 2001
  March 10, 2001
  March 3, 2001
  February 24, 2001
  February 17, 2001
  February 10, 2001
  February 3, 2001
  January 27, 2001
  January 20, 2001
  January 13, 2001
  January 6, 2001
  December 30, 2000
  December 23, 2000
  December 16, 2000
  December 9, 2000
  December 2, 2000
  November 24, 2000
  November 17, 2000
  November 10, 2000
  November 4, 2000
  October 28, 2000
  October 21, 2000
  October 14, 2000
  October 7, 2000
  September 30, 2000
  September 23, 2000
  September 16, 2000
  September 9, 2000
  September 2, 2000
  August 26, 2000
  August 19, 2000
  August 12, 2000
  July 29, 2000
  July 22, 2000
  July 15, 2000
  July 1, 2000
  June 24, 2000
  June 17, 2000
  June 10, 2000
  June 3, 2000
  May 27, 2000
  May 20, 2000
  May 13, 2000
  May 6, 2000
  April, 2000
 

Join your fellow employees who are fighting for your benefits - Join the Alliance!

Retirees, Vendors, Contractors, Temps, and Active Employees are all eligible to become members of the Alliance.


    Highlights for week ending May 25, 2002

Job cuts continue at IBM...

  • "Rosie the MBA", granddaughter of a "Rosie the Riveter" announces that she has joined the Alliance@IBM and explains why.

  • "cmohre" comments on why he joined the Alliance@IBM and what it's like to work for IBM these days. Excerpt: "I have worked in the past for companies who were competitors. One Union, the other non-union. Where do you think I was guaranteed in writing future pay raises etc.? Which company was more profitable due to employee loyalty ? The morale at IBM is so low that many past loyal employees no longer care about the company any more than the company cares about them. This is not what inspires productivity. Please, take a look around you. Do you want to spend the rest of your
    professional career wondering if you will have a job tomorrow ?"

  • Annex Research: IBM Finance Functions Told to Write Off Assets. Looming IBM Write-offs...Like Gerstner in 1993, Palmisano Set to "Clean House?" How Big Will the Second Quarter Charge Be?

  • AFL-CIO: How Much Would YOU Be Making if Your Pay Had Grown as CEO Pay Has? Excerpt: "Since 1980, the average pay of regular working people increased just 66 percent, while CEO pay grew a whopping 1,996 percent. According to Business Week, the average CEO of a major corporation made 42 times the average hourly worker's pay in 1980, 85 times in 1990 and a staggering 531 times in 2000. If runaway CEO pay growth continues at its current exponential rate over the next 50 years, the average CEO will be paid more than 250,000 American workers. What would YOUR paycheck be like today if, for the past five years, it had grown at the same rate of increase as an average CEO's? To find out, enter how much money you were paid in 1996...

  • "fhawontcutit" comments on how some U.S. corporations manage earnings. Excerpt: "Why spend money marketing, say a product like the AS/400, in the hopes of increasing market share when you can simply change pension assumptions and create earnings? Why spend billions on such mundane things as benefits and employee training when you can take those same billions and buy back the stock?"

  • As IBM cuts pension, retiree medical, and other benefits, unionized workers at AT&T successfuly negotiate for improved pay and benefits. Excerpt: "The contract maintains quality health care coverage for active workers and retirees without shifting costs to workers, a key bargaining issue for union members, said Ralph Maly, CWA vice president for communications and technologies. The agreement provides a six percent wage increase over the 18-month term in two percent intervals, effective May 12 and November 10, 2002 and May 11, 2003. Upon ratification, workers also will receive a $250 signing bonus. Workers won improvements in retirement security, with an eight percent increase in both the traditional pension plan bands and the cash balance credits."

  • Washington Post: Capitalism's Hollow Core (First in a series). Excerpt: "Public corporations -- that is, firms whose shares are owned by members of the public and traded on a stock exchange -- are required by law to undergo annual health checks and to publish the results. These accounts -- showing a firm's income, assets and other vital statistics -- allow the public to judge how much money the firm may make in the future and therefore what the firm is worth today. But the accounts often turn out to be dishonest. The health of the nation's economic system is at stake."

  • Washington Post: Rules Full of Loopholes (Second in a series). Excerpt: "Here's A story about how accounting rules get written. In 1991 the Financial Accounting Standards Board, a private body that's supposed to do the rule writing, was flummoxed by a tricky question: When can companies conceal debts by parking them in specially created partner firms? Accountants, who stood to earn large fees by arranging debt concealment, naturally thought this practice honorable; the public interest, which lies in full disclosure, pointed the other way. You might think that the standards board would side with the public. But the board delegated this conundrum to something called the Emerging Issues Task Force, a body dominated by the accounting profession." ... "In 1994 the accounting board proposed that companies should report the cost of employee stock options, just like other types of pay. This provoked a furious reaction from company executives, who prefer discretion on the subject of their outsized options payouts. High-tech entrepreneurs staged a 'Rally in the Valley' to protest the accounting board's proposal, and soon their friends in Congress threatened to strip the board of its authority. So the options rule was diluted, with the result that Cisco Systems, to cite one example, could report $4.6 billion in profits in 2000 while actually losing $2.7 billion. Once again, the public interest in disclosure had clashed with the vested interest in opacity, and the public had lost."

  • Washington Post: Watching the Watchers (Third in a series). Excerpt: "If auditors watch over companies, who watches the watchers? 'Our conscience,' is how one leading accountant answered Sen. Barkley's question. Since then auditors have conscientiously staved off supervision, making empty shows of virtue whenever regulation loomed. In 1977, at a time when Congress was threatening action, the industry set up the Public Oversight Board, which managed a peer-review system; the board was a peerless paper tiger, and no major auditor was ever sanctioned as a result of its reviews. In the 1980s and 1990s, the industry convened two commissions on audit practices; both were ineffectual. All through this period, the responsibility for setting auditing guidelines and punishing miscreants was retained by the American Institute of Certified Public Accountants, the profession's own lobby. If an auditor made a multimillion-dollar error, the group would assume a really mean expression and prescribe a token training course."

  • Washington Post: Insider Outsiders (Fourth in a series). Excerpt: "In the looking-glass world of auditing, obvious truths are so often disregarded that they need painful restating. Here goes, then: Independent auditors should be, yes, independent -- otherwise there's no point having them. After all, companies employ their own internal accountants to produce the numbers that get released to shareholders. The auditors' only contribution is to provide an outside certification that the numbers are true."

  • Washington Post: The Public and Its Foes (Last in a series). Excerpt: "This is why the Enron scandal is so potent. Its many tentacles are united by a sense that rich insiders are rigging the system at the expense of ordinary Americans. Enron's energy dealers ripped off California's consumers -- and got away with this behavior because of Enron's clout in Washington. Wall Street's analysts cynically promoted Enron's stock to unsuspecting investors because they coveted fat investment-banking fees -- and got away with this conflict of interest because lobbyists and campaign dollars kept the regulators soft. Capitalism rightly rewards people who make life better by providing goods and services. But when rewards are distributed according to insider influence, that is cronyism. This series has focused on accounting, because that is where the economic costs of cronyism are potentially highest. Since the 1970s, the accounting lobby has fought off regulation and squashed opposition to its consulting ambitions -- despite the fact that those ambitions sometimes turned outside audits into insider shams. As a result, corporate accounts have been distorted -- in Enron's case, spectacularly -- and investors are hard-pressed to know which companies deserve their money. Capitalism defeated communism partly because the apparatchiks directed savings to the wrong places. When cronyism undermines the information that investors rely upon, it damages capitalism's central nerve."
    "
  • Plan Sponsor: Upfront: The Participant Perspective. Kennedy's penchant for jointly trusteed boards goes down hard with sponsors. Excerpts: "Of all the participant protections Senator Edward Kennedy has served up in his latest pension reform bill, the one that seems hardest for employers to digest is its initiative to allow employees to serve on the retirement plan board of trustees. The Protecting America's Pensions Act of 2002 calls for the creation of a joint board of trustees for 401(k) plans with more than 100 participants. The legislation mandates that these trustee boards maintain an equal number of employer and employee representatives. Insiders say the likelihood that this bill will make it through the House and Senate with this provision intact is slim, given the opposition pitted against it and the ramifications such a provision would have for 401(k) plans."
"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
This site is designed to allow IBM Employees to communicate and share methods of protecting their rights through the establishment of an IBM Employees Labor Union. Section 8(a)(1) of the National Labor Relations Act states it is a violation for Employers to spy on union gatherings, or pretend to spy. For the purpose of the National Labor Relations Act, notice is given that this site and all of its content, messages, communications, or other content is considered to be a union gathering.