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    Highlights—June 5 , 2004

In Memoriam—President Ronald Reagan, 1911-2004Photo of President Reagan
  • Washington Post: Actor, Governor, President, Icon. Excerpt: Even Reagan's critics acknowledge that he was a masterful political performer. Theodore Roosevelt termed the presidency a "bully pulpit," and Franklin D. Roosevelt gave this pulpit a new dimension in the radio age with folksy "fireside chats." Reagan, a former Democrat who had voted three times for FDR and admired him, adapted the bully pulpit to television. He sometimes borrowed directly from FDR. A refrain that became a frequent punch line of Reagan's 1980 campaign speeches -- "Are you better off today than you were four years ago?" -- was a variant of an FDR comment in a 1934 fireside chat.Reagan gave weekly Saturday radio speeches to the American people, a practice continued by his successors. He was particularly effective in prepared television speeches delivered from the Oval Office. Drawing upon skills forged in his earlier careers in radio, films and television, Reagan set the standard in using television to promote his presidency.Reagan was nearly 78 when he completed his second term, eight years older than the next-oldest president, Dwight D. Eisenhower, was when he left office in 1961. But until he was stricken by Alzheimer's, Reagan's trim, athletic build made him appear younger than his years, and his amiability and self-deprecating humor softened the hard edge of his ideological advocacies. Reagan poked fun at his age, his work habits and his supposed simple-mindedness. He once said that he knew that hard work never killed anyone, "but I figure, why take the chance?" Much of his humor was spontaneous. Asked while visiting astronauts in Houston before the successful launch of the space shuttle Discovery in 1988 whether he would like to go into space, Reagan quipped, "I've been in space for several years."
  • Workforce Management: In Just a Year, Cash-Balance Plans Go From Panacea to Pariah. In the wake of a court ruling and a lack of legislation, companies are bypassing cash-balance plans, once seen as an answer to traditional pensions. Excerpt: Not long ago, companies considered cash-balance pension plans ideal for limiting financial liability and providing a more portable retirement program to today’s mobile workforce. The plans, a cross between a traditional defined-benefit plan and a defined-contribution plan, have been adopted by hundreds of major U.S. corporations since the 1980s, including IBM, Federal Express, Eastman Kodak and Delta, and cover an estimated 7 million workers. Hundreds more businesses looking to exit traditional defined-benefit plans were preparing to convert, according to government and industry experts. But in the space of a year, cash-balance plans turned from panacea to pariah. The turning point: a federal court’s landmark ruling in July 2003 that IBM’s cash-balance plan violated age-discrimination laws, throwing into question the legality of all such plans. In February, the same judge ordered IBM to pay back benefits, which plaintiffs in the class-action suit estimate could amount to $6 billion, a claim the company denies. ... Restructuring pension plans at other companies hasn’t gone as smoothly. In February, U.S. District Court Judge G. Patrick Murphy, in the Southern District of Illinois, found IBM liable for retroactive pension benefits. Translation: IBM may have to recalculate benefits for 140,000 employees and retirees. The suit is pending, with both sides preparing damage estimates. IBM maintains that it doesn’t owe anything and has previously stated that a loss won’t materially affect its operations.
    • Janet Krueger comments in a "must read" posting. Excerpt: The fatal problem with cash-balance plans is that they are generally not defined or measured in terms of an age-65 annuity, and the employees are not earning a 'defined benefit'. When Congress set up all the tax advantages for defined benefit plans, they clearly wanted employers to help their employees build a secure retirement by focusing on the benefit they would earn if they worked until retirement. Cash balance plans, while masquerading as defined benefit plans, actually motivate the exact opposite behavior of traditional, legal defined benefit plans. Traditional pension plans were an incentive to employees to work until they reached full retirements. Cash balance plans, on the other hand, are an incentive for older employees to become more mobile, incenting them to consider leaving as soon as their cash balance becomes high enough. You see, as long as the employee stays at the company, he is forced to accept minimal compound interest on that virtual money account -- he can't move it to an IRA or 401K, so that it is money in his name and has realistic investment options -- without quitting. IBM's cash balance plan is typical in this respect -- you would notice, if you scanned the company benefits web site, that IBM no longer refers to 'retirement'. IBM's cash balance plan is just one of their vehicles for discriminating against older employees -- it is no accident that the average service time for IBM employees is now less than 5 years! Btw, if IBM had really wanted to use the cash balance plan as a vehicle for rewarding younger, more mobile employees, don't you think they would have reduced the vesting period to less than 5 years?

  • Do you approve of the job that IBM CEO Sam Palmisano is doing? Vote now at the Forbes Web site.

  • New York Times: Actuaries Under Scrutiny 0n Pension Fund Pacts. Excerpt: he Department of Justice has asked several big actuarial firms for information about the terms of their client agreements, in what appears to be an effort to learn whether certain provisions violate antitrust laws. Officials of the actuarial firms said they had received "civil investigative demands," or written requests for information that fall short of subpoenas, from the department's antitrust division. The letters seek documents and other information related to the firms' decisions, about two years ago, to ask their pension fund clients to sign clauses limiting their ability to sue the firms. The inquiry was reported this week by Pensions & Investments, a trade publication. Officials of Towers Perrin, Milliman USA, Watson Wyatt Worldwide and Hewitt Associates said their firms had received the letters and were complying. Some of the officials said they believed that other firms had also been asked for information. The Justice Department did not respond to a call requesting information.

  • Houston Chronicle: 460 jobs at Williams Cos. going to IBM. Excerpt: Williams Cos. has agreed to ship about 460 accounting, finance, human resources and information technology jobs to IBM in a $320 million outsourcing agreement announced Tuesday. Williams' shares hit a 52-week high. The 7 1/2 -year deal is expected to begin July 1 when roughly 380 Williams employees in Tulsa, 70 in Houston and 10 in Salt Lake City are offered jobs at IBM. Williams expects the move to save as much as $10 million a year.

  • The American Prospect: Future Retirees at Risk. Bush's "ownership society" would replace existing social-insurance systems with personal savings accounts. His approach threatens to make old age and poverty synonymous again. Excerpt: Retirement security for middle-class Americans is at risk. First, the push to privatize Social Security has diverted attention from solving the program's financing problems. Second, unchecked reliance on 401(k) plans has made employer-provided pensions less reliable. Third, the president's "ownership society" initiative has led to policy proposals that undermine pension coverage and splinter the health-care system. Finally, massive budget deficits have now made it more difficult to fix Medicare and Social Security.

  • Slate: The 4 Percent Solution. Why you're such a lousy investor. Excerpt: It is a principle of American life—practically gospel—that you know better than anyone what to do with your money. The idea of privatizing Social Security is based on the notion that you'll invest your savings better than the government would. The ascendance of 401(k) plans over guaranteed employee pensions has the same foundation—that employees will make informed and prudent decisions when they invest. But what if it's not true? Over the last 20 years, the stock market has averaged a 12 percent annual return. But according to a study by Dalbar Financial, individual mutual fund investors earned only about 4 percent. A survey by Vanguard finds participants in its 401(k) plans earn only about one-half the average—6 percent a year. It is almost impossible to believe, and unpleasant to contemplate, but practically all individual investors are below average.

  • New York Times Editorial: What Studs Terkel's 'Working' Says About Worker Malaise Today. Excerpt: The 1970's were a slower age, and much of the workers' pleasure in their jobs is related to the less-demanding time clock. A hospital billing agent can take time off from dunning patients to look in on a man whose leg was amputated, who has no one to care for him. "If he's going to live in a third-floor flat and he doesn't have anybody home, this bothers me," she says. A stewardess says she is supposed to spend a half-hour on a Boston to Los Angeles flight socializing with passengers. Three decades later, we are caught up in what a recent book dubbed "The New Ruthless Economy." High tech and new management styles put workers on what the author Simon Head calls "digital assembly lines" with little room for creativity or independent thought. As much as 4 percent of the work force is now employed in call centers, reading canned scripts and being supervised with methods known as "management by stress." Doctors defer to managed-care administrators and practice speed medicine: in 1997, they spent an average of eight minutes talking to a patient, less than half the time they spent a decade earlier. It is much the same in other fields. There have been substantial productivity gains. But those gains have not found their way to paychecks. In a recent two-and-a-half-year period, corporate profits surged 87 percent, while wages rose just 4.5 percent. Not surprisingly, a study last fall by the Conference Board found that less than 49 percent of workers were satisfied with their jobs, down from 59 percent in 1995. If link is broken, view Adobe Acrobat version [PDF--19 KB].

  • New York Times editorial by Paul Krugman, courtesy of Common Dreams: The Wastrel Son. Excerpt: He was a stock character in 19th-century fiction: the wastrel son who runs up gambling debts in the belief that his wealthy family, concerned for its prestige, will have no choice but to pay off his creditors. In the novels such characters always come to a bad end. Either they bring ruin to their families, or they eventually find themselves disowned.

  • The Newspaper Guild: Lonely at the top-but plush, too. Excerpt: One group of wage earners that has proven impervious to economic ups and downs comprises top corporate executives, who last year pumped up their pay by an average 16%. The median base salary and bonuses paid to chief executives grew to $2,029,500 from $1,750,000 in 2002, according to a Reuters study of 345 of the Standard & Poor's 500 companies. One source of that largesse, it turns out, was Uncle Sam: According to a Wall Street Journal analysis of General Accounting Office documents, 60% of U.S. corporations didn't pay a penny in federal taxes during the boom years of 1996-2000. And by 2003, GAO records show corporate tax receipts had fallen to just 7.4% of all federal revenue, the second lowest level since the mid-depression year 1934.

  • The Newspaper Guild: Class war deplored by one of its big winners. Excerpts: One of the most successful investors in the U.S., Warren Buffet, is warning that the U.S. already is embroiled in a class war-and that everyone will be worse off because of it. Opening the CWA's legislative conference in Washington, D.C. on March 28, Executive Vice President Larry Cohen quoted Buffet as saying: “There is class war in the United States, and my class is winning.” Buffett, owner of Berkshire Hathaway, is worth more than $15 billion. Buffet wasn't bragging, Cohen noted, but was speaking out of concern about the impact of a class war. “The White House and their allies will try to persuade us that we are safer and stronger and that social issues, not economic issues, are the real ones that divide us,” Cohen warned the union's legislative and political activists.

    “We should not need Warren Buffet to remind us of our own interests. But if U.S. politics have become so extreme that he is joining with us, concerned about longer term consequences of the politics of greed, this should remind us of how much work we have to do,” Cohen declared. Conference delegates lobbied on several key issues, including offshoring of telecommunications, computer and-now-newspaper jobs, enhancing collective bargaining rights and fighting “contracting out” of services. “Not only do we lose jobs when services are contracted out, but more often than not it is the end of any real rights for workers, as the contracting begins a downward spiral that ends either in the U.S. or Asia with workers that have no real organizing rights and a fraction of the pay and benefits,” Cohen said.

  • Benefits Blog: Tenth Circuit Issues Opinion in Millsap v. McDonnell Douglas Corporation. Excerpt: I was surprised not to find anything in the news about this appellate decision--Millsap et al. v. McDonnell Douglas Corporation (issued May 21, 2004) after there was so much publicity around the lower court decision last year. The case is notable due to the fact that it represents one of the few ERISA section 510 plant closing cases where employees have prevailed. The 510 claims were brought by former employees in a class action suit against their employer, alleging that the employer closed one of its plants for purposes of preventing employees from attaining eligibility for benefits under their pension and health care plans.

  • BenefitNews.com: Pension expert advocates reform of flawed 401(k). Excerpt: Theoretically, economists say, 401(k) plans are fabulous wealth-generating vehicles, surpassing traditional defined benefit plans' power to secure a comfortable retirement for employees. But in the pages of their new book, Coming Up Short: The Challenge of 401(k) Plans, pension experts Alicia Munnell and Annika Sunden tell a tale of unfulfilled promise. Data appear to lend the authors credence: Many workers nearing retirement today find the assets in their 401(k)s and individual retirement accounts will pay only a few hundred dollars per month during their golden years. In 2001, the authors show, the typical household approaching retirement had amassed just $55,000 in 401(k)/IRA holdings - hardly much of a supplement to Social Security.

  • Miami Herald: Goodyear rewards CEO; workers can sue over age discrimination claims. Excerpt: Financially struggling Goodyear Tire & Rubber Co. rewarded its chief executive officer with $1.5 million in salary and bonus last year, according to documents filed with the U.S. Security and Exchange Commission. The Akron tire company said Robert J. Keegan deserved the pay because he has helped Goodyear make progress in turning around its finances, improving relations with independent tire dealers and signing a new labor agreement with the United Steelworkers of America, among other things. Under Keegan, Goodyear went through one of its most turbulent years, restructuring more than $3 billion in loans to avoid a liquidity crunch, slashing 6,000 jobs and closing or scaling back factories around the world. ... Meanwhile, an Ohio appeals court on Wednesday allowed two longtime Goodyear salaried workers to sue the company. They lost their jobs after receiving low marks on their evaluations and are alleging age discrimination. The 9th District Court of Appeals overturned a Summit County Common Pleas judge's ruling last year that the workers had waited too long to bring a claim against Goodyear. "It's great and long overdue," said Paul W. Jones Jr., 60, of Norton, a senior engineer who lost his job in January 2003 after 35 years of service. The other plaintiff, Jack McGilvrey, who worked as a senior compounder, died in March 2003 of cancer, but his estate will continue with the claim, said Steven Bell, an attorney for Jones and McGilvrey. The two former employees will be allowed to join four others who also sued Goodyear alleging age discrimination after receiving low marks. Bell said he plans to seek class-action status and expects as many as 400 other former Goodyear workers in Ohio to join the lawsuit. The lawsuit grew out of Goodyear's A-B-C grading system. Managers were required to hand out low marks to roughly the bottom 10 percent of their departments. Those workers were denied raises, and some were fired or demoted. Goodyear said it instituted the grading system to reward high performers and force low performers to improve or leave the company. The system was scrapped in 2002.

  • Christian Science Monitor: Debut of drug cards greeted with a shrug. The new Medicare benefit leaves seniors puzzled. Excerpt: The people at AARP are still surprised. After sending out 26,000 enrollment kits for the new Medicare prescription-drug discount card, only 400 people had signed up as of last Friday. That's right, 400. That's not a typo. Starting this week, more than 7 million seniors could begin using the much-ballyhooed cards, which the Centers for Medicare and Medicaid Services (CMS) contends can save them up to 18 percent on brand-name drugs. But with more than 70 options to choose from, an Internet-based system for comparison shopping, and glitches galore, millions of eligible seniors like Mary Telsa remain cardless. "I haven't signed up ... because I don't understand how to get enrolled," says the Hollywood, Fla., senior.

  • Jim Hightower: Push for Real Corporate Reform. Excerpt: Perhaps you remember that only a couple of years ago, George W was in a public tizzy over the multibillion-dollar financial scandals pouring out of the executive suites of Wall Street and America's largest corporations. Ripped-off investors were howling for blood and the stories of corporate corruption were on the front page – so George "Reformerman" Bush lept to the rescue. He loudly demanded tough new rules to govern greedy CEOs, and he handpicked William Donaldson to serve as the new top cop on the Wall Street beat. Two years later... Where's Reformerman? There he is – behind the scenes at the SEC. But he's taken off his reformer cape. He's now quietly trying to undercut his top cop and to water down those tough new governance rules he once demanded! Donaldson naively thought that Bush really wanted to crack down on corporate finagling. So he has proposed several new rules, including one that would allow shareholders to choose a few independent board members, rather than having all of a corporation's board handpicked by the CEO. Oh, the shrieks of horror that this caused among CEOs. Hence, the Business Roundtable – the lobbying front for CEOs of America's largest corporations – has swarmed the SEC. It's lobbyists are demanding a substitute rule that guts Donaldson's reform, turning the shareholders' vote for independent board members into a sham.

  • New York Times: Grumpy Old Drug Smugglers. Excerpt: Stahl's public emergence as a hell raiser came in July, when Gil Gutknecht, a Republican congressman from Minnesota, seized on her as a political godsend and invited her to Washington for a news conference announcing his sponsorship of a bill to legalize drug re-importation. It was Stahl's first visit to the nation's capital, and in the blinding light of the flashbulbs, on a trip she called ''the adventure of a lifetime,'' she realized that being a bony, shrinking, widowed old lady, far from a liability, is in fact a great strength. Seniors are the fastest-growing voter bloc in the United States, expected to double by 2030, when 1 in 5 Americans will be 65 or older. Politicians who don't respond to those kinds of demographics don't stay politicians. Stahl, whose total income consists of Social Security and her deceased husband's pension of $51.74 a month, counts herself among the many Midwestern widows, ex-stockbrokers, retired schoolteachers -- people with time on their hands and dwindling savings -- who have found a galvanizing political cause in the high cost of prescription drugs. Like the Vietnam War to so many college students in the 60's and 70's and nuclear proliferation to mothers in the 80's, the issue is so personal, so deeply tied to life, death and a sense of justice, that it is driving otherwise private and conservative citizens into the first activism of their lives.

  • New York Times editorial by Paul Krugman: Dooh Nibor Economics. Excerpt: Last week The Washington Post got hold of an Office of Management and Budget memo that directed federal agencies to prepare for post-election cuts in programs that George Bush has been touting on the campaign trail. These include nutrition for women, infants and children; Head Start; and homeland security. The numbers match those on a computer printout leaked earlier this year — one that administration officials claimed did not reflect policy. Beyond the routine mendacity, the case of the leaked memo points us to a larger truth: whatever they may say in public, administration officials know that sustaining Mr. Bush's tax cuts will require large cuts in popular government programs. And for the vast majority of Americans, the losses from these cuts will outweigh any gains from lower taxes. It has long been clear that the Bush administration's claim that it can simultaneously pursue war, large tax cuts and a "compassionate" agenda doesn't add up. Now we have direct confirmation that the White House is engaged in bait and switch, that it intends to pursue a not at all compassionate agenda after this year's election. That agenda is to impose Dooh Nibor economics — Robin Hood in reverse. The end result of current policies will be a large-scale transfer of income from the middle class to the very affluent, in which about 80 percent of the population will lose and the bulk of the gains will go to people with incomes of more than $200,000 per year.

Coverage on H1-B and L1 Visa and Off-Shoring Issues
  • The Newspaper Guild: 'In-sourcing' no cure for losses. Excerpt: With the growing loss of jobs to overseas markets producing a political backlash, “free trade” advocates have started responding with claims that offshoring losses must be balanced against the gains caused by “in-sourcing.” In this view, foreign investment in the U.S. creates jobs which offset the jobs shipped to other countries paying lower wages. But such claims, while superficially plausible, don't appear substantiated by actual job numbers. According to an analysis by the Economic Policy Institute, U.S. companies owned by foreign multinationals in 1991 employed 4.74 million workers. Over the next decade, the foreign multinationals acquired additional U.S. companies employing 4.1 million workers. They also established U.S.-based companies employing another 274,000 workers. If no jobs had been lost, the number of U.S. jobs in foreign-owned companies in 2001 would have been 9.15 million. Instead, 2001 employment at foreign-owned companies was 6.37 million, indicating a net loss of 2.78 million U.S, jobs through import displacement, sales losses, productivity increases or divestiture. “Foreign-owned companies are indeed employing millions of Americans,” the EPI analysis observes, “but the evidence suggests that they have destroyed more jobs than they created in recent years.”

  • British Columbia Government and Service Employees' Union (BCEU): Pending inquiry, government should halt its plan to give private information to U.S. firms. Excerpt: The provincial government should immediately halt plans that would put private information on every British Columbians into the hands of U.S. firms, pending a full inquiry by B.C.’s privacy commissioner, the B.C. Government and Service Employees’ Union said today. “I welcome the announcement that B.C.’s Privacy Commissioner, David Loukidelis, will conduct an inquiry into whether our private information will be secure in the hands of American companies,” said George Heyman, President of the BCGEU. “The government is proceeding with outsourcing plans despite warnings that the privacy of British Columbians could be compromised,” he said. ... The union has already initiated a court challenge on the privatization of the Medical Services Plan, and called on the privacy commissioner to look at four additional contracts: ... A proposed contract with IBM or Electronic Data Systems (EDS) for helpdesk services that would give the company complete access to all private data held by the provincial government, as well as all access codes held by government staff.

  • RescueAmericanJobs is taking a survey that you can participate in. The Rescue American Jobs website was started one year ago, and our online community quickly evolved into a rallying point for activists working to save America's middle class. Since then, they have worked to build an organization to support and coordinate efforts across 46 states and more than 100 cities. Coming up on their first year anniversary, they are reflecting on the last year's activities, and they'd like to hear from you. They want to know where you see the progress of the movement, what they can do to better support your efforts, and how you envision the future direction of the organization over the next year. Please take a moment to fill out the survey, and tell them your concerns, your vision, and your needs: http://www.rescueamericanjobs.org/surveys. Please feel free to forward this to your friends, e-mail groups, websites, family, etc. They would like to get input from as many concerned citizens as possible.

  • Wall Street Journal: India to Increase Software Exports Via Outsourcing. Excerpt: The software-outsourcing sector in India is poised for a year of robust exports, as savings for U.S. companies outweigh a political backlash there against shipping jobs overseas, an industry body said Thursday. ... The U.S. remains the biggest market for Indian software companies, generating 70% of their revenue. The U.K. is second, with a 15% share of India's software exports. To maintain the headstart India has over its rivals like the Philippines, South Africa and Ireland, Nasscom urged the government to set the agenda for services trading in negotiations at the World Trade Organization. "India has a natural advantage in services and we need to press that home. India will be a disproportionate beneficiary of WTO negotiations if we are able to set the agenda," Mr. Rao said, referring to guidelines on crossborder trade in services. In the past, Western companies have questioned India's record on data safety and its legal protections on intellectual-property rights. But Nasscom member companies now are moving to put in place stricter regulations on data transference to keep their Western customers plugged into India's outsourcing boom. More than one million Indians are expected to be employed in call-center, back-office and software jobs by 2008, making the sector the country's biggest foreign-exchange earner, with expected annual revenue of $50 billion.

  • Axis of Logic: Economic Miasma. Excerpt: In various articles and letters (mainly to Businessweek International) I have endeavoured to focus the US mindset on certain inescapable realities: without much success. Presently, to those with a more open mind in the United Kingdom, your economy mimics the worst aspects of the British economy, set, during the appalling Thatcher years. A core focus on financial services, has taken effort, reward, vision, purpose and understanding away from the simple tenets of Wealth Creation. Worse, it has confused personal wealth gathering, with wealth creation, per se. Like Great Britain, the USA was founded, economically, upon the central premise of simplistic self-improvement: if one took labour, added raw material plus a certain level of skill and/or innovation, one became successful. Originally, in both countries such success was agronomic: as engineering superseded an agrarian basis, however, parts of the core dynamic underwent a paradigm shift. ... Today, the tail wags the dog and all too often industry leaders decide their corporate strategy and day-to-day policies purely on the market reaction. The true stakeholders – the investors and equally important, the workforce – are very much the poor relation in these cynical dynamics. Consider this: General Electric now achieves more revenue and profit from Financial Services, than it does from making things and selling them! Frightening? You bet! More and more Americans are working either part-time or on short contracts, with little or no compensation when their job is lost. Not the same for the boys at the top, with their greedy pension schemes, Golden Parachutes and director’s contracts, however! Year-on-year, the relationship between pay scales of Joe Average and Directors of corporations widens, inexorably. As more and more jobs are lost to outsourcing, as the level of imports (of consumer durables and semi-durables) increases, as more and more “McJobs” are hailed as the economic answer, how will the USA sustain its society?

  • Janet Krueger comments on the future of jobs in the United States given the reality of off-shoring. Full excerpt: It is important to note that there are literally *NO* industries that aren't seeing middle class jobs moved off shore. In the biosciences, more and more work is being done overseas -- it is not uncommon, if you take the time to ask, to find that your medical tests are being done overseas. Radiologists are being laid off as HMOs discover they can ship X-rays and scans overseas for interpretation. Wall Street firms are looking overseas for more and more financial analysis. Westlaw just moved the jobs of 200 lawyers who were interpreting court cases and building head notes overseas. As fast as someone with a masters or a doctorate can get retrained, that same job can be moved off shore.

    It isn't just manufacturing jobs. It isn't just call center jobs. It isn't just the hourly programming jobs. More and more, it is jobs that require masters degrees and doctorates. If you're not scared about whether your children and grandchildren will ever be able to hold down middle class jobs with full benefits, you should be!

    And by the way, I'm not asserting the solution is to become a social welfare state... We need middle class workers who are able to pay taxes. What we need is a complete overhaul in US government and tax policies with respect to American and foreign corporations. And one place we need to start is with an analysis of the unjust trade policies the current administration has been pushing through...

Now on the Alliance@IBM Site:
  • Think Twice for June/July 2004 [PDF]. Feature articles in this issue include:
    • IBM Stockholders Meeting Report
    • Speech to IBM Stockholders’ Meeting by Jimmy Leas
    • Tally of Alliance shareholder resolutions
    • Life of a SSR Gets Tougher Every Quarter
    • IBM Offshoring Hits Australia
    • Contractors face new pay cuts and lack of respect

"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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