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- Wall Street Journal: How
Cuts in Retiree Benefits Fatten Companies' Bottom Lines.
Trimming a Health-Care Plan
Creates Accounting Gains,
Under Some Arcane Rules.
A Shield Against Rising Costs. Excerpt:The loud message comes from one company after another:
Surging health-care costs for retired workers are creating a giant burden. So companies have
been cutting health benefits for their retirees or requiring them to contribute more of the
cost. Time for a reality check: In fact, no matter how high health-care costs go, well over
half of large American corporations face only limited impact from the increases when it comes
to their retirees. They have established ceilings on how much they will ever spend per retiree
for health care. If health costs go above the caps, it's the retiree, not the company, who's
responsible. Yet numerous companies are cutting retirees' health benefits anyway. One possible
factor: When companies cut these benefits, they create instant income. This isn't just the
savings that come from not spending as much. Rather, thanks to complex accounting rules, the
very act of cutting retirees' future health-care benefits lets companies reduce a liability
and generate an immediate accounting gain. In some cases it flows straight to the bottom
line. More often it sits on the books like a cookie jar, from which a company takes a piece
each year that helps it meet its earnings targets. If link is broken, view
Adobe Acrobat version [PDF--44 KB].
- New York Times:
an I.B.M. Village, Fears of Air and Water Pollution. Excerpt: ENDICOTT, N.Y. - This village,
best known as the birthplace of I.B.M., has an unusual look these days. Venting systems, with
white plastic tubing that runs from basements to roofs, sprout from 377 houses and businesses.
Many houses are for sale, but there are few buyers. "This area is taboo now," said Tim
Davis, who lives on Monroe Avenue. "And
it's going to stay that way." Mr. Davis lives in what residents call "the plume" -
320 acres encompassing the downtown and stretching across the village, all of which were polluted
by industrial toxic substances. The chemicals contaminated soil and leached into groundwater.
And they continue to produce vapors that waft into hundreds of basements. Occurring over decades,
the pollution is traceable at least in part to I.B.M., which used common solvents in its circuit
board assembly. The venting systems were all paid for by I.B.M., which two decades ago employed
12,000 workers in Endicott, just west of Binghamton. Now 1,700 collect I.B.M. paychecks here.
Still, residents say they feel trapped in virtually unsalable homes, where they fear the prolonged
effects of the vapors on the health of their families. If link is broken, view Adobe Acrobat
version [PDF--45 KB].
- Raleigh News & Observer: IBM
in N.C. hums at center of outsourcing debate. Excerpt: Some 13,300
people work here, at International Business Machines Corp.'s largest site in the world. That
places them at the epicenter of the ongoing political and economic debate over the virtues
and evils of outsourcing. On its sprawling campus west of Raleigh, Armonk, N.Y.-based IBM has
retrofitted factories where computers once were manufactured among the North Carolina pines
into offices supporting brainpower businesses like consulting and software development. Many
of the workers here depend for their livelihood on other companies finding it cheaper to outsource
certain tasks to IBM than to do it themselves. At the same time, Big Blue's reported decision
to outsource thousands of its own technology jobs to lower-cost workers in Asia has put it
squarely in the election year spotlight. ... IBM's computer outsourcing services guarantee
that a customer's costs will drop every year they're under contract, Nygard said. The company
reported in January that it signed services contracts worth $17.3 billion in the last three
months of 2003, compared to the third-quarter figure of $15 billion. Just last month, IBM
landed a contract to manage 21 customer service call centers for Sprint Corp. IBM employees
in RTP contacted for this story declined to comment by name about the changing jobs picture
there. "IBMers are really hunkered down because of job cuts," said Lee Conrad, national
coordinator for Alliance@IBM, a group trying to unionize IBM employees. "They know that
these job cuts sweep through on a regular basis. Senior employees are being targeted, so
they're not going to raise their heads up."
- "i_be_mad_as_heck" quotes from
IBM's 1974 edition of its "About Your Company" pamphlet. Full
excerpt: I have a 1974 "About Your Company" book, 502-3801-02. It states the
following: Page 17, Benefits Program. "IBM's benefits program is a non-contributory one: the company
the full cost." Page 32, IBM Medical Plans – General. "While you are a regular employee
or receiving regular IBM Sickness
and Accident Income Plan benefits or IBM Total and Permanent
Disability Income Plan benefits (unless eligible for Medicare) or if
you retire under the early retirement provisions of the IBM
Retirement Plan, coverage under the IBM Medical Plans continues
during your lifetime for you and your eligible family members under
age 65 (unless eligible for Medicare). When you or your eligible family members reach age 65
become eligible for Medicare, coverage under the IBM Medical Plans
will change, but the total coverage for that individual under both
Medicare and the IBM Plans generally will be at least equal to the
coverage under the IBM Plans alone. An explanation of this coverage
is included in the section entitled, 'IBM Medical Plans with
Medicare.'" Of course all of the above means nothing. Promises mean nothing when
there are legal loopholes. For those that claim the company had to make the changes, explain
me why Lou and his executive buddies have a "top hat" medical plan?
Not only did they cut employee and retiree benefits, they increased
- New York Times: Concerns
Raised Over Consultants to Pension Funds. Excerpt: A small but growing
part of the $2 trillion in state and local pension funds is being steered into high-risk investments
by pension consultants and others who often have business dealings with the very money managers
they recommend. After making such investments, a few of these pension funds have come up short,
forcing the governments to draw on tax dollars. The Securities and Exchange Commission is so
concerned that it has begun an inquiry into the practices of pension consultants, who serve
as gatekeepers for thousands of money managers. The regulators will find not just financial
consultants but a web of intermediaries — marketing
agents, lobbyists, brokers and world leaders — between pension funds and the investments
- Wall Street Journal: FASB
Move On Cash-Balance Pensions Spurs Opposition. Excerpt: Companies
could see an impact on their balance sheets from a recent decision that stands to expand the
benefits they owe in controversial cash-balance pension plans. Actuaries and other pension
consultants already have begun opposing the decision, made earlier this month by the Financial
Accounting Standards Board, a private rule-setter in Norwalk, Conn. The FASB decided at a board
meeting on March 3 to change the way companies measure their benefit obligations in cash-balance
pensions - hybrid retirement vehicles that combine elements of traditional pensions with 401(k)s.
The decision is tentative, but FASB has said it wants to finalize it this year.
- Janet Krueger comments.
Full excerpt: Gosh, isn't this sad... FASB is actually looking at changing the
rules so that companies with cash balance plans will actually have
to keep enough cash in their pension funds to pay off the account
balances if they go bankrupt!!!
- Computerworld: J.P.
Morgan, Bank One merger may lead to IT sourcing culture clash.
One bank tends to outsource IT services, the other favors insourcing. Excerpt: While many
aspects of the the combined banks' future IT blueprint have yet to be decided, analysts
say it's all but certain that the IT outsourcing/insourcing debate will play a pivotal
role in shaping its IT direction. For example, J.P. Morgan Chase, the acquiring bank, entered
into a $5 billion, seven-year outsourcing deal with IBM a year ago to take over its data processing
infrastructure (see story). Under the terms of that deal, J.P. Morgan Chase had planned
to transfer 4,000 IT workers and contractors to IBM by the middle of 2003.
- New York Times:
Videos, for TV News, Come Under Scrutiny. Excerpt: Federal investigators are scrutinizing
television segments in which the Bush administration paid people to pose as journalists praising
the benefits of the new Medicare law, which would be offered to help elderly Americans with
the costs of their prescription medicines. The videos are intended for use in local television
news programs. Several include pictures of President Bush receiving a standing ovation from
a crowd cheering as he signed the Medicare law on Dec. 8. The materials were produced by the
Department of Health and Human Services, which called them video news releases, but the source
is not identified. Two videos end with the voice of a woman who says, "In Washington, I'm
Karen Ryan reporting." But the production company, Home Front Communications, said it had
hired her to read a script prepared by the government. Another video, intended for Hispanic
audiences, shows a Bush administration official being interviewed in Spanish by a man who identifies
himself as a reporter named Alberto Garcia. Another segment shows a pharmacist talking to an
elderly customer. The pharmacist says the new law "helps you better afford your medications," and
the customer says, "It sounds
like a good idea." Indeed, the pharmacist says, "A very good idea."
- New York Times: Medicare
Actuary Gives Wanted Data to Congress. Excerpt: Richard S. Foster, the
chief actuary of Medicare, provided Congress with documents on Friday showing that federal
payments to private health insurance plans under a new Medicare law could far exceed what Congress
assumed when it passed the measure last fall. For months, lawmakers had been seeking the data,
but Mr. Foster said in an interview that he had withheld it under instructions from Bush administration
officials. He turned over documents outlining the information at a meeting on Friday with Congressional
aides of both parties who work on health legislation. The documents estimate that the new
law will increase Medicare payments to private health plans by a total of $46 billion over
the next 10 years, not the $14 billion assumed by lawmakers when they voted on the legislation.
Mr. Foster had cited the discrepancy in an interview earlier this week, but the documents he
turned over on Friday, Mr. Foster said, show that the Bush administration was aware of the
gap well before Congress approved the new law. Moreover, the documents show that the administration
expects a huge increase in the number of Medicare beneficiaries enrolled in various types of
managed care. About 12 percent of the 41 million current Medicare beneficiaries are in such private
health plans today. By 2009, Mr. Foster says, the proportion will reach 32 percent, equally divided
between health maintenance organizations and preferred provider organizations.
- Common Dreams News Center: Democracy
- Not "The Free Market" - Will Save America's
Middle Class. Excerpt:In actual fact, there is no such thing as a "free market." Markets
are the creation of government. Governments provide a stable currency to make markets possible.
They provide a legal infrastructure and court systems to enforce the contracts that make
markets possible. They provide educated workforces through public education, and those workers
show up at their places of business after traveling on public roads, rails, or airways provided
by government. Businesses that use the "free
market" are protected by police and fire departments provided by government, and send their
communications - from phone to fax to internet - over lines that follow public rights-of-way
maintained and protected by government.And, most important, the rules of the game of business
are defined by government. Any sports fan can tell you that football, baseball, or hockey
without rules and referees would be a mess. Similarly, business without rules won't work.
Which explains why conservative economics wiped out the middle class during the period from
1880 to 1932, and why, when Reagan again began applying conservative economics, the middle
class again began to vanish in America in the 1980s - a process that has dramatically picked
up steam under George W. Bush. The conservative mantra is "let the market decide." But
there is no market independent of government, so what they're really saying is, "Stop
corporations from defending workers and building a middle class, and let the corporations decide
how much to pay for labor and how to trade." This is, at best, destructive to national
and international economies, and, at worst, destructive to democracy itself.
- Vault's IBM
Business Consulting Services message board is a popular hangout for IBM
BCS employees, including many employees acquired from PwC. Some sample posts
- The score
is IBM doublespeak 1 rational HR policies 0 Pt 2 by "Dose of reality". Full excerpt:
Unachievable goals – Here we have a fundamental problem with compensation structures in
which company performance at a stretch budget level is a pre-requisite to meaningful reward.
Business performance goals were set unrealistically high, were not candidly communicated to
staff, and the connection between individual staff performance and company performance is miniscule
and indirect. If you don’t reward for individual performance, then performers will whine/leave
and non-performers will fake it and stay. Retention problems from the first two factors made
it even more impossible to meet targets. Compounding this problem is the fact that the base
salary reductions were across the board. If equalization was the goal, then differential treatment
is called for. It is too convenient and too improbable that the entire staff was 6% overpaid.
Again, self-selection will lead to the previously overpaid staff staying, and the fairly/underpaid
staff leaving. Employees are stakeholders, and in a services firm they are the sales force,
product, and R&D. If you don’t directly recognize and encourage individual contribution,
the franchise can't grow.
I agree with the point that the recent compensation actions are not evil or lying, but
they do defeat the whole purpose of compensation, which is to hire, retain, and motivate
staff. To that extent they aren't evil - they are dysfunctional. What we have here is a
classic case of trying to save our way to prosperity - If you can't grow the top line, then cut
costs. The problem is that cost savings have future revenue downsides that are a multiple of the
money saved, particularly when the compensation changes are so significant that the entire pretense
of reward for performance is obliterated. The reason this is such a tempting strategy is
that the cost savings are tangible and immediate, while the connection to revenue is in the future,
and revenue issues can be blamed on a dozen other factors. So, I say the whining makes
sense. The only thing that keeps the business from imploding is there are enough people that feel
they are in the "lucky to have a job" category -
this is what they are banking on.
Expect Very much Upside by "Dose of reality". Full excerpt: Take it from me - the
incentive compensation will not get you any closer to your market value, and annual increases
will be minimal at best. Your question as to why so many advise against employment at
What you do:
Who You Do it With:
- There is a hard push to achieve a high degree of utilization (hours charged to clients).
If you are not on a project, your “manager” will push to get you staffed on any
project where the client wants you, regardless of travel implications, skill set match,
career development needs or anything else that is important to you
- The expense policies are restrictive. Not only will accommodations and flight arrangements
be unpleasant/substandard, the reservation system is difficult to deal with, and the
T&L reporting system is arcane. Also, you will be expected to do all this on your own time
in order to meet the utilization targets.
What you get in return:
- Project Managers are under tremendous pressure to deliver results against resource plans
and timelines that are usually very aggressive, since the bidding process has become extremely
competitive, and the revenue targets are so high that we are forced to buy market share at
all costs i.e. overpromise. What this means for you is that you will be pressured to deliver
12 hours of work in an 8 hour day. In many cases you will be informally encouraged not to
bill the additional 4 hours.
- Most of the consultants you work with will not think twice about slamming your work. Evaluations
are done on a quota basis, with everyone normalized to fit an expected curve. The
worse you look, the better they look. This is a natural fallout when you grade on
- Unless you are bringing in revenue, don’t expect to be noticed by practice leadership.
You are just a body to plug into a project team when needed.
- Resource managers generally have no idea what your skill set is.
- Virtually no chance of meaningful incentive compensation. You have little direct control
over performance measures that impact bonuses, and no idea on what practice/geography
targets will lead to reward.
- Limited or zero annual increases.
- No sense of community.
- No real personal development plan or training time/budget allocated. There is too much
of a push for utilization, no recognition of the investment value of training, and
a philosophy of “it is easier to bring in skill sets than build them internally”.
- Don’t expect to be here past 4 years (not necessarily the worst problem!) There are
well documented cases of IBM laying off staff prior to vesting to save on pension
- Constant fear that your skillsets will be replaced by offshore resources – i.e. you
could be layed off.
| Coverage on H1-B and L1 Visa and Off-Shoring Issues
means U.S. job creation is a must, Powell says. Excerpt: While outsourcing is a reality
of the 21st century and inevitable, the U.S. must create jobs to replace those being lost,
U.S. Secretary of State Colin Powell said yesterday in Delhi, India. "Outsourcing invariably
does result in the loss of jobs, and we have to do a better job in the United States, a
good job in the United States, of creating opportunity in the United States to provide more jobs,
so that those who have lost jobs will have opportunities in the future," said Powell at
a joint news conference in Delhi with India's external affairs minister, Yashwant Sinha.
- Washington Post: Outsourcing
Debate Turns Spicy for Powell. Excerpt: Pleasing everyone is an
impossible task, no matter how noble the cause. That doesn't stop most of us -- even high-ranking
cabinet officials -- from trying anyway. Secretary of State Colin Powell rediscovered this
eternal truth on a trip to India where he tried to calm an increasingly emotional debate
surrounding the outsourcing of U.S. jobs. He "sought
to assure Indians on Tuesday that the Bush administration would not try to halt the outsourcing
of high-technology jobs to their country," The New York Times reported. He then told India's
government that it should return the favor by importing American goods and services,
according to the paper. (Powell also spoke about opening up trade in advance of his India
- New York Times: An
Outsourcing Giant Fights Back. Excerpt: To his compatriots, Azim Premji
is the Bill Gates of India. By transforming his family-owned vegetable oil business into
a global technology powerhouse, Mr. Premji has become the country's richest citizen,
with a net worth hovering around $8 billion. Outside India, however, Mr. Premji is not
exactly Mr. Popularity these days. A British newspaper recently went so far as to describe him
as "the man who wants to take away your jobs." That
has to do with the nature of Mr. Premji's business: his company, Wipro, is one of the
biggest outsourcing concerns in the world. ... The point, he said, is that Americans
are unduly worried. "We are not dealing with cold reasoning
here,'' he said, "but with emotions of Americans whose personalities changed after 9/11 and
who feel threatened by anything that hurts their security, their wealth and their jobs.''
Like many others, Mr. Premji argues that shifting jobs to lower-cost countries will benefit
the United States in the long run. "Offshore outsourcing is another example of U.S. innovativeness
to stay competitive by reducing costs and cycle times," he said. ...
But he is hardly oblivious to the outsourcing furor. After he closed
his recent deal with an American company, he said its executives
understandably did not want to crow about the 30 percent cost savings
from shipping the work to India. "They said they could handle a leak but did not want to go
straight on the Lou Dobbs show," Mr. Talwar said.
- Asia Times (Hong Kong): Anti-outsourcing
cry unnerves corporate giants. Excerpt: The issue
of outsourcing and the resulting political backlash found its way into the corporate boardrooms
of global giants, perhaps for the first time, as chief executive officers of top multinational
companies including General Electric (GE) and Gillette spent the week discussing the backlash
as a risk factor and its impact on their businesses. And worse, for top Indian software
companies in the United States, the backlash is increasingly turning explosive. Until now,
the outsourcing row has only been a political issue in the run-up to the US presidential
elections. ... Vikram Talwar, CEO of Exlservice, a prominent back-office outfit, said: "If
this talk continues, and the press continues to write about it, it will be difficult for
us. It will also force boardrooms in the US to start worrying about [whether it] impacts
their social responsibilities." However, it seems US-based multinationals are worried more
about their bottom line than their social responsibilities and consider outsourcing to be unavoidable.
GE, for instance, continues to stress the importance of low-cost centers in its global
strategy and growth. "Competition
from places like China and India [has] evolved beyond low-cost manufacturing labor to
include highly competitive engineering graduates who earn less than production workers
in the developed world," said GE, adding: "Winning companies must think globally, but
understand local consequences. Only competitive companies can serve investors, employees and
stakeholders during this dramatic phase of globalization."
- CNET News: Offshore
is in--get used to it. Excerpt: Are you ready for eight more months of
demagoguery about how to stop the loss of American technology jobs? I'm sure you're as
thrilled about that prospect as I am. With Lou Dobbs morphing into Howard Beale, ranting
against the export of our great middle class existence has reached the level of spectator
sport. In the run-up to the fall presidential election, rest assured that the noise is
only going to get louder. In Northern California, unofficial Ground Zero for the debate
on offshore outsourcing, or offshoring, the topic has now elbowed aside stock options
as the preferred subject du jour of the digerati. Seems you can always find some bloviating
big shot publicly wringing his or her hands about the decline of the nation's technology
prowess and the threat to America's future as an industrial leader. ... Scapegoating
may make for a satisfying sound bite on the evening news, but outsourcing is not the enemy.
To borrow upon The Bard's wisdom, the fault is not in our stars but in ourselves.
IT has outsourced itself. Excerpt: Americans have an unwavering faith that
technology can solve all of their problems, but they tend to forget that it also creates
new ones in the process. The leading edge of technology innovation often cuts both ways.
Perhaps the best example of this is the current election-year brouhaha over the accelerating
trend of outsourcing U.S. jobs in general -- and IT jobs in particular. IT advances aren't
the sole cause of the jobs exodus, but as many laid-off programmers and call center staffers
have come to realize, IT innovations have accelerated that trend.
- CBS Evening News:
Jobs Shipped Overseas. Excerpt: "Protecting jobs leads to job destruction, because
if we try to prevent outsourcing, it'll just make American business less competitive in
the world market. And that will lead to overall job destruction. So for me there's no choice
here. We have to outsource," said Marc Andreesen, head of the California-based software
company "Opsware," which
helps businesses cut costs by automating. Andreesen says he plans to hire workers in India
or Brazil. "By doing that, what I want to be able to do is get more bang for the buck out
of those jobs, so that I can grow faster and so I can hire more people in the U.S.," he
- Daily Mis-Lead: New
Report: Why Bush Supports Outsourcing. On the eve of his trip to Ohio
to "focus on jobs," President Bush claimed yesterday
that "we're creating jobs - good, high-paying jobs for the American citizen." His
comments come despite the country having lost more than 2 million manufacturing jobs
since he was elected. In Ohio, which lost 270,000 manufacturing jobs alone, the economic
crisis has raised questions about why the president last month strongly endorsed the
outsourcing of U.S. jobs to cheap overseas labor markets. A look at the president's
donors offers an answer. Misleader compared the companies that outsource the most U.S.
jobs (referred to as "captive
remote services companies" on page 11 of the trade association report noted below) with
the president's campaign finance records. The analysis shows that the president's
campaign has pocketed more than $440,000 and his party more than $3.6 million in just
4 years. These companies have a direct stake in the president publicly supporting outsourcing
and doing everything he can to water down or oppose legislation to curb the practice.
The breakdown of campaign contributions is as follows...
- CNET News.com: Tech professionals group
wary of offshoring. Excerpt: A major association of
technical professionals believes that the outsourcing of high-wage jobs to low-wage countries
poses a serious, long-term challenge to the United States' technological leadership,
economic vitality and military security. IEEE-USA, the U.S. wing of the Institute of
Electrical and Electronics Engineers, said Thursday that the "offshoring" trend also
contributes to high unemployment among U.S. techies. "We must develop a coordinated national
strategy to maintain U.S. technological leadership and promote job growth in the United
President John Steadman said in a statement. "But it's going to be difficult to remain
technologically competitive, if we continue offshoring the jobs of our innovators at
rates currently projected." In a policy statement, IEEE-USA said U.S. government procurement
rules should favor work done in the country and should "restrict the offshoring of work
in any instance where there is not a clear long-term economic benefit to the nation or where
the work supports technologies that are critical to our national economic or military security."
- New York Times: India's
Light PR Touch; Naming Hot U.S. Markets.
A regular look at jobs, outsourcing and trade, from around the World. Excerpt: India is treading
lightly when it comes to its outsourcing PR. The trend has been a boon to Indian companies
like Infosys Technologies and Wipro, and U.S. companies, including International Business
Machines, are beefing up staff in India to match the cost advantages. But amid weak job growth
in the U.S., Indian firms and representatives don't want to appear to be gloating. The Financial
Times reported this week that an official from the Indian consulate touched only briefly
on the country's outsourcing success in a presentation in New York. "A slide
showing corporate giants with workers in India, including AIG, HSBC, Ford and Yahoo,
flashed quickly across the screen," the FT writes, and instead of using words like outsourcing
or offshoring, the slide had phrases such as "services production in global production
on the Alliance@IBM Site:
- Associated Press: Unions
Press for Sanctions Against China. Excerpt: Organized labor asked the Bush administration
on Tuesday to impose economic sanctions on China, contending that the country has violated
workers' rights in order to gain trade advantages against the United States. The request,
in a trade complaint filed with U.S. Trade Representative Robert Zoellick, represented
the latest effort by American unions to highlight what they see as unfair trade practices
that have led to a record $124 billion U.S. trade deficit with China last year and the
loss of thousands of U.S. factory jobs. ... The labor group said that many of the labor
violations occurred when people traveled from rural areas to take industrial jobs in Chinese
factories where their activities are strictly regulated by a system of internal passport
controls. The petition contended that these young workers, mostly female, "often step into
a nightmare of 18-hour work days with no day of rest, earning meager wages that are often
withheld or unpaid altogether."
IBM's Palmisano given
$5.4 million bonus for 2003.
CEO rewarded for steering Big Blue through 'several challenges' and increasing server share.
- Poughkeepsie Journal: Residents:
IBM offers settlement for bad wells. East Fishkill deal involves 62 families. Excerpt: IBM
Corp. has offered a settlement to 62 families in a polluted East Fishkill neighborhood
who had threatened to file a civil lawsuit against the company and a defunct contractor,
Jack Manne Inc., two residents said Tuesday. The terms of the settlement prevent the residents
from discussing its details. Residents Denis Callinan and Verna Wren said the threatened
suit, which was never filed in court, had been based on covering any future health problems
associated with polluted groundwater. ''The main concern was medical monitoring,'' Callinan
said. She said the settlement was reached March 1. IBM refused to confirm, deny or comment
on any settlement, beyond saying ''there never was a civil suit filed by the homeowners,''
spokesman Steve Cole said.
- Donald Parry: Medicare Prescription Bill. How can we thank you?
- John Kotson: Affordable Health Care Action Plan
Twice for March/April 2004 [PDF]. Articles
in this edition include:
- Tech Worker Job Crisis Starts Hitting Home
- 2004 IBM Stockholder Meeting in Providence, Rhode Island
- Stockholder resolutions challenge IBM on Executive Compensation,
Offshoring and Pensions.
- Offshoring Legislation In The Different States
- IBM ordered to repay workers put on cash-balance pension
- Outsourced to IBM: Broken Promises Plague New Hires
- Cuts in incentive plans called “underhanded” by employees
- Cut by IBM:“Dead Man Walking”
- Call to Action!
Join the Rally to
protest Offshoring at the IBM Shareholders' Meeting - April 27 in Providence,