One of the defendants is Robert Moffat, a senior vice president at IBM Corp. who is accused of providing inside information about IBM, Sun Microsystems Inc. and AMD to a hedge fund employee. Moffat had been seen as a potential CEO. He is now on leave and is no longer an officer of the company, according to IBM. ...
Why would successful executives risk their reputations — and possibly their careers — by sharing confidential company information with outsiders? One of the possible motivations that experts point to is ego gratification.
The complaint alleges that Moffat provided information regarding the impending spinoff of Advanced Micro Devices' chip making business and the quarterly financials of IBM and Sun Microsystems ahead of when they became public, thereby helping New Castle engage in insider trading in shares of those companies as well.
"We are suing IBM over a matter concerning a software solution which we purchased through IBM and was unfortunately found not to be functionally fit for Southwark's purposes," the spokesperson said. "We did try and work with IBM over an 18 month period to get the problems resolved. However, IBM was unable to find a resolution to the problems that did not involve further significant financial outlay on Southwark's behalf. As the product was bought using public money, we had no option but to try to reclaim the money spent from IBM, as a duty to protect public funds.
"Many workers at the Hursley site who will be reaching retirement age within the next ten years are rightly furious that IBM bosses are going back on clear verbal commitments made by senior managers in 2006 that the pension scheme will not be reduced," she said. An IBM spokesman declined to comment. The firm cited rising costs and the "volatile economic environment" when it shut the scheme.
"We reached the point where we were no longer confident that Team for Texas could get servers and software for the elections system installed and properly tested," Cutrone said, referring to the IBM-led partnership. ...
Under the seven-year contract, IBM is merging the separate data centers of 27 state agencies into two streamlined and updated facilities. The objective of the contract is to save money and improve security. But the project has been plagued with service issues, slow progress and high-profile data losses. A December completion date looms for IBM to get all the agencies' operations running in the consolidated centers but, as of this summer, the process was far behind schedule. In 2008, the loss of some critical state data at the office of the attorney general led Perry to suspend consolidation until IBM ensured that the state's data was protected. Although the consolidation resumed, the problems have persisted. On the heels of the secretary of state outage, the attorney general suffered another loss of data related to Medicaid fraud cases, just as it had in 2008.
Selected reader comments for the above article follow:
Any IBM employees who quit in our Data Center are not replaced. The rest have to try to keep up. good luck! FACT: Our server's hard drive has an error that can be corrected by reseating the drive in the server. 5-10 minute job? Nope. We have to contact our liaison who contacts IBM who contacts Dell who sends a Tech rep who reseats the drive. Around 10 hours.
Texas Legislature - I hope you need help someday with your server which maybe maintained by IBM. "Please take a number and wait in line." Hmm, . "Now serving number 2." I truly feel sorry for visitors and the citizens of Texas for the contract but, as the old say goes, I’m not allowed to run the train The whistle I cannot blow. I’m not allowed to say How far the little cars can go. I’m not allowed to blow off steam Or even clang the bell. But let it jump the _____ track And see who catches hell. - Unknown
Recently, I was formally introduced to someone that I recognized only as a "familiar face" who had previously worked at one of the six different IBM sites where I had worked. This person completed 30 years of service, and has begun receiving a pension. Through the course of our IBM related conversation, I asked them if they were using the FHA, or did they have other medical insurance they were using.
The sarcasticness in their voice startled me. "FHA?? What FHA?" came the response. Naively, I mistakenly assumed that since they had completed 30 years, like me, they were eligible for the FHA. Nothing could be further from the truth. Apparently there is an age factor involved, and if one does not meet it, even though someone has completed 30 years of service, they do not qualify for the FHA. That leads me to believe that I may be one of the lucky few. While I realize the FHA ain't much, at the very least I have a little something as opposed others who have absolutely nothing.
I'm convinced that IBM has The FHA rigged so that even if you miraculously do get to 30 years, there's an excellent chance you'll never benefit from it. To think that someone could work for an employer for 30 years, and that employer gets to walk away without providing any healthcare benefits what-so-ever to their employee boggles my mind. To me, that's a criminal act of betrayal.
When I started with IBM, I thought it would be different there , but it really was not. Thankfully I did heed his advice and did not let my job totally interfere with my family life like so many people did and still do. Once I was offered a plum job that involved a lot of travel - and just told them - sorry, no can do and got that manager quite irritated at me though , I ended up taking a relocation to a new location and job to get out from under those folks but the family came with and I didn't have a lot of overnight travel.
As I heard a Minister say once - I have visited a lot of people in the hospital in their final days and I have yet to hear one say "I wish I had spent more time at work."
I just want to get to the point where I can go to my doctor, get my prescriptions, get my prescriptions filled without having to go through all of the above, and get on with my life.
Did you know that Canadians have to pay for their own drugs? I just found this out. They have socialized medicine for the medical and hospitalization, but at least some of them have to buy their own meds. But prices are sane and don't break the bank. I guess I am hoping to become an honorary Canadian, and just pay reasonable amounts of cash money for my drugs, and have my prescriptions something that happens between my doc and me and get the f****** Part D insurance plans out of my life.
If Canadians start dying of their prescription drugs, somebody please let me know right away! :-) Torbill
Selected reader comments for the above article follow:
Executive pensions rose even as the share prices at the companies declined an average of 37% in 2008 and many firms froze employee pensions and suspended retirement-plan contributions. The growth of such supplemental executive retirement plans, or SERPs -- which can be worth tens of millions of dollars to executives -- largely has been overlooked amid a backlash against executive pay, particularly at banks and other companies receiving taxpayer bailouts.
Congress is considering overturning the ruling. It should do so. It is particularly important in the current downturn, with age discrimination complaints soaring. But the problem is larger than any one legal standard. ...
The courts have repeatedly thrown up barriers to age discrimination suits, long before the Supreme Court’s June decision. In 1993, in one of its most damaging rulings, the court decided that if employers fire workers whose pension costs or salaries are high, they are not discriminating — even if the overwhelming number of people fired are older workers.
Irony of ironies, it gets worse. Holtz-Eakin, who is about to start shopping for insurance on the individual market, is 51. And he has one of those pesky "preexisting conditions" that insurance companies often cite in denying coverage.
"A right renal autotransplant," he said, pointing to his abdomen as he described the 1990 transplant surgery he went through after one of his kidneys was damaged in an accident. "They got rid of the artery, moved my kidney and rebuilt me for the 21st century. If you look at my file, any insurance company would go, 'Hmm . . .' "
Good luck. ...
"My mother's deeply concerned that I don't have a job," joked Holtz-Eakin, a divorced father of two grown children. Holtz-Eakin said he's been paying about $1,000 a month to extend the private health insurance he received on McCain's campaign through the government's COBRA program, but that will expire in a few months. This is the first time in his life he has not had employer-provided health coverage. "I worry about where I go next in the way many Americans do," he said.
We have the greatest health care system in the world. Sure, it has flaws, but it saves lives in ways that other countries can only dream of. Abroad, people sit on waiting lists for months, so why should we squander billions of dollars to mess with a system that is the envy of the world? As Senator Richard Shelby of Alabama puts it, President Obama’s plans amount to “the first step in destroying the best health care system the world has ever known.”
That self-aggrandizing delusion may be the single greatest myth in the health care debate. In fact, America’s health care system is worse than Slov—er, oops, more on that later. The United States ranks 31st in life expectancy (tied with Kuwait and Chile), according to the latest World Health Organization figures. We rank 37th in infant mortality (partly because of many premature births) and 34th in maternal mortality. A child in the United States is two-and-a-half times as likely to die by age 5 as in Singapore or Sweden, and an American woman is 11 times as likely to die in childbirth as a woman in Ireland.
Canadians live longer than Americans do after kidney transplants and after dialysis, and that may be typical of cross-border differences. One review examined 10 studies of how the American and Canadian systems dealt with various medical issues. The United States did better in two, Canada did better in five and in three they were similar or it was difficult to determine.
Yet another study, cited in a recent report by the Robert Wood Johnson Foundation and the Urban Institute, looked at how well 19 developed countries succeeded in avoiding “preventable deaths,” such as those where a disease could be cured or forestalled. What Senator Shelby called “the best health care system” ranked in last place. ...
I regularly receive heartbreaking e-mails from readers simultaneously combating the predations of disease and insurers. One correspondent, Linda, told me how she had been diagnosed earlier this year with abdominal and bladder cancer — leading to battles with her insurance company. “I will never forget standing outside the chemo treatment room knowing that the medication needed to save my life was only a few feet away, but that because I had private insurance it wasn’t available to me,” Linda wrote. “I read a comment from someone saying that they didn’t want a faceless government bureaucrat deciding if they would or would not get treatment. Well, a faceless bureaucrat from my private insurance made the decision that I wouldn’t get treatment and that I wasn’t worth saving.” ...
Moreover, there is one American health statistic that is strikingly above average: life expectancy for Americans who have already reached the age of 65. At that point, they can expect to live longer than the average in industrialized countries. That’s because Americans above age 65 actually have universal health care coverage: Medicare. Suddenly, a diverse population with pockets of poverty is no longer such a drawback.
That brings me to an apology. In several columns, I’ve noted indignantly that we have worse health statistics than Slovenia. For example, I noted that an American child is twice as likely to die in its first year as a Slovenian child. The tone — worse than Slovenia! — gravely offended Slovenians. They resent having their fine universal health coverage compared with the notoriously dysfunctional American system. As far as I can tell, every Slovenian has written to me. Twice. So, to all you Slovenians, I apologize profusely for the invidious comparison of our health systems. Yet I still don’t see anything wrong with us Americans aspiring for health care every bit as good as yours.
Republican rivals ran advertising campaigns highlighting the failings of the NHS, prompting Gordon Brown, the Prime Minister, and others to hit back with a "We Love the NHS" message through social media including Twitter and Facebook.
The Commonwealth Fund surveyed more family doctors in 11 countries – including Australia, Canada, France, Germany, Italy, Holland, New Zealand, Norway, Sweden and America. Britain was the only country where the majority of doctors felt the quality of health care is improving and, in contrast to the United States, the NHS rated highly for fast, inexpensive and readily-available care for all. The UK also scored highly on access to specialist care, out-of-hours provision and use of electronic records. ...
It found 48 per cent of doctors in the United States reported problems in getting treatment for their patients compared to only six per cent in Britain, while only 29 per cent of doctors in the US offered an out of hours service compared to 89 per cent in Britain.
"But dependency on government has never been bad for the rich. The pretense of the laissez-faire people is that only the poor are dependent on government, while the rich take care of themselves. This argument manages to ignore all of modern history, which shows a consistent record of laissez-faire for the poor, but enormous government intervention for the rich." From Economic Justice: The American Class System, from the book Declarations of Independence by Howard Zinn.
Vault's IBM Business Consulting Services message board is a popular hangout for IBM BCS employees, including many employees acquired from PwC. Sample posts follow:
We all have to play nice-nice with our GR (global resource) peers. and when your GR team lead sends notes to IBM US mgmt that they need MORE WORK from their US counterparts, IBM mgmt. rolls over and gives them more work. Reminds me of an old CCR song: Fortunate Son.
And when you ask them, how much should we give? Ooh, they only answer more! more! more. What a sad, pathetic, f'ng company.
What's more pathetic is how India is not held accountable since they are Sam's chosen ones and how anyone who reports problems with India are considered anti-team, racist and uncooperative.
The sacred cows over in India aren't cattle, they're the "office boys" pretending to be IT professionals working for IBM. What a sad, pathetic f'ng company indeed.
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