"It amazes me that grown, wealthy, successful, hardworking men fell for that," Stapleton said. Chiesi was proud of her network, too. "She bragged about her contacts in public," Stapleton said. US authorities say Chiesi, 44, crossed the line in her pursuit of secrets. They charged her and 19 others with securities fraud in the largest insider-trading case prosecuted since the 1980s, when stock market arbitrageur Ivan Boesky paid a $100 million fine and spent three years in prison. ...
Of all the alleged conspirators, though, she had the highest-placed sources. She was in regular contact with Hector Ruiz, the former chairman and chief executive of Advanced Micro Devices (AMD), according to a person familiar with the investigation. Government prosecutors say she was friends with Robert Moffat, a senior vice-president of IBM, who was a candidate to succeed chief executive Sam Palmisano. ...
While Chiesi may have had fewer sources, they were well placed, and she worked them hard. She made plans to meet with IBM's Moffat at her mother's house on a Sunday, government wiretaps show. She talked into the evening with Ruiz from AMD, and she sought to re-establish the trust of the family friend at Akamai so she could pump him for information.
Chiesi's comments on wiretaps read like dialogue from a Quentin Tarantino movie. "Unless you were on the phone with (the AMD executive) and had Moffat at your house last night, who the f*** would be buying it, honestly?" she asked Mark Kurland, her boss at New Castle, about AMD on September 9, 2008. ...
Chiesi grew up in Binghamton, in New York state's Southern Tier along the Pennsylvania border. She was named Miss Southern Tier Teenager in 1981 and appeared in the local paper wearing a tiara. She enrolled at the University of Colorado at Boulder, where she rushed the Pi Beta Phi sorority. "Danielle was really social, gregarious and popular," says Stacey Maggio, a sorority sister. "She was a knockout with a big heart." ...
IBM 'coup'. Moffat, Chiesi's alleged source at IBM, was almost as valuable as Ruiz in terms of his clout. The 53-year-old senior vice-president ran the systems and technology group, which had sales of $19bn in 2008. "He's a huge coup for me, having him at IBM," Chiesi said on a taped call with Rajaratnam in September 2008. ...
Turning fortunes. On January 8, 2009, Chiesi got two calls from Moffat's phone number, according to authorities. The next day, New Castle started buying IBM shares. On January 20, IBM reported earnings that beat analysts' forecasts. A day later, New Castle started dumping about half of its shares, making $500,000, the government says. Moffat, a 31-year IBM veteran, allegedly helped with the Sun trade, too. He was on a team doing due diligence on the server-computer maker, which was up for sale, according to the Justice Department.
Talking with an unnamed associate in January, Chiesi said: "My IBM guy said that he thinks they're gonna beat the quarter." New Castle bought more than 1 million Sun shares on January 26 and 27, when Sun reported its earnings, which did exceed forecasts. The fund sold its Sun shares and reaped $900 000.
IBM has been cutting costs and raising profits. One way is “work force rebalancing,” which involves shifting work around, often overseas, and U.S. downsizing.
“We’ve been saying that the offshoring of U.S. jobs would bring the IBM employee population down significantly, and I think we’re seeing that now,” said Lee Conrad, national organizer for Alliance@IBM, a workers’ group. ...
At the end of 2008, IBM had 398,455 employees globally, with the U.S. portion forming 28.9 percent of that.
Academics have studied the company’s benefit-enhanced corporate culture as a model for nurturing creativity and loyalty among engineers and other workers. Six years ago, in a report on “60 Minutes,” Morley Safer called working at SAS “the good life.”
But that good life is under threat today as never before. SAS’s specialty, a lucrative niche called business intelligence software, is becoming mainstream. Free, open-source alternatives to some of the company’s products are increasingly popular. On the other end of the spectrum, the heavyweights of the software industry — Oracle, SAP, Microsoft and, especially, I.B.M. — are plunging in and investing billions of dollars.
“It will be a dogfight,” says Bill Hostmann, an analyst at Gartner. “SAS has never faced a competitor like I.B.M. And I do think I.B.M. sees SAS as a big, fatted cow.” ...
The competitive thrust that really grabbed SAS’s attention came in late July, when I.B.M. announced that it planned to pay $1.2 billion for SPSS, a maker of predictive modeling software. I.B.M. has placed SPSS and Cognos into a new business analytics and optimization group. That business will be supported by 200 scientists, and the company has said it will retrain or hire 4,000 consultants and analysts to work in the group. “This is the big growth strategy for I.B.M., the company’s next big play for this decade,” says Ambuj Goyal, a computer scientist who is general manager of I.B.M’s business analytics software unit. “SAS comes from the legacy world of statisticians and programmers. The real opportunity is in deploying this technology broadly in corporations.”
The Canadian Broadcasting Corp. reported Saturday she was diagnosed with major depression and was receiving monthly sick-leave benefits from insurance giant Manulife. But the payments dried up this fall and when Blanchard called Manulife, she says she was told she was available to work because of Facebook.
She said her insurance agent described several pictures Blanchard posted on Facebook, including ones showing her having a good time at a Chippendales bar show, at her birthday party and on a sun holiday. Blanchard said Manulife told her it's evidence she is no longer depressed. She's fighting to get her benefits reinstated and says her lawyer is exploring what the next step should be.
Blanchard told the CBC that on her doctor's advice, she tried to have fun, including nights out at her local bar with friends and short getaways to sun destinations, as a way to forget her problems.
Depression is a nasty business. Cures are not exactly logical. And Blanchard says she went on three trips, each of a four-day duration, after consulting with her psychiatrist. ...
What sort of a life is it when you spend your days trawling social-networking sites to sniff around your customers' personal existence? How is it that Manulife observed Blanchard's photos? Did she leave her Facebook page entirely open, or could it be that she had her insurance agent as one of her Facebook friends? Was she, indeed, already under suspicion before the Facebook trawling began?
I did not want the company I worked so hard for to destroy my health, so I simply retired without any "window" or other financial incentive to do so. It was a difficult decision, but a smart move for me to take.
I'm sure IBM is not the only company doing this. What hurt me most was the fact IBM had changed so much in the way the people were treated. In my early years at IBM, it was like being part of a family. We all worked together, and had the highest respect for each other. Then things changed, and profits became the main focus. I at least have good memories from the first 90% of the time I worked with IBM. It was really great while it lasted.
Those who were only 39-&-44/100% did NOT have the amount of years vested in a dirty filthy lying selfish company and so the rape of their medical did not anger them as much.
Then again, as fhawontcutit and I shouted constantly in 1999, they SHOULD have been angry but were not, just the as the 49+ year olds SHOULD have been angry but were not. BOTH groups SHOULD have at that time put in place a written contract to protect against future rapes, but here it is, 2009, the year of 10,425 rapes, and there is still no contract in place. Ain't life funny?
But neuroscientist Henry Markram, the lead of the "Blue Brain" modeling project at Switzerland's EPFL, has his claws out over IBM's claims. "I am absolutely shocked at this announcement. Not because it is any kind of technical feat, but because of the mass deception to the public," Markam wrote in an open letter sent to IBM's technology chief, Bernard Meyerson, and members of the media. ...
He adds that "there is no qualified neuroscientist on the planet that would agree that this is even close to a cat's brain" and that the announcement is "simply a PR stunt here to ride on Blue Brain." "That the Bell prize would be awarded for such nonsense is beyond belief," Markam wrote. "I never realized that such trivial and unethical behavior would actually be rewarded. I would have expected an ethics committee to string this guy up by the toes."
Go back to January 2009 and revisit the TV broadcast of Sammy P and Barrack on UTube standing there side by side lying to the American public about how stimulus money given to IBM will create jobs. Yea, jobs in Pakistan, Brazil, Russia, and China (oh but they neglected to tell the American Public that). Sure broadband network and smart grids sound great but Sammy laid off conservatively 10,000 people in the US and Canada this year and a large number in Europe. ...
IBM with their code of ethics- and Bob Moffat guilty of insider trading still keeps his pension when his ill got gains where on IBM time. Shame on you Sammy P. -like Bill Clinton you did it cause you could. And even more sad it will keep going on because the American people do not put a halt to it.
Alliance Reply: I'm sorry, but I can't print the "lead" names, emails, or phone #'s here. We've been spoofed before by people trying to use Alliance as a public tool of revenge for personal reasons. Please contact us if you wish to discuss further, and include your email.
Alliance reply: There were changes in May 2009 that expanded TAA. Yes, some IBMers were denied prior to this change because they did not meet the criteria. Read here: http://www.doleta.gov/tradeact/ All IBMers who lost their job to offshoring should contact their State TAA representative. Be aware that you might have to also contact the State TAA rep that the IBM site you report to is located. State Reps here: http://www.doleta.gov/tradeact/contacts.cfm
Alliance Reply: The same old merry-go-round. Solutions that don't change much. How about organizing and gathering your co-workers to join and then continue to grow the numbers of employees that want to put an end to the PBC "stupid a$$inine process" and replace it with an employment contract that has its own method of rating your work efforts and accomplishments; and agreed to by the union members?
As international team member I have to keep evidence about everything. I am blamed that I do not well my job, received PBC=3 even I can't see family due unpaid overtimes. Vacation has no sense as nobody act as my stand-in and I have to deal with backlog every time when I am back at office.
I feel as a slave not live in 21st of century with mobbing legalized. I am ready to spend 3 months in madhouse to recover myself and became human again. Job should be humanized! Eleven hours with laptop in mails, spreadsheets, calls and endless reports should not be accepted If I would US citizen I would became your member immediately. Wish you that your effort will bring satisfaction for US IBMers and life balance for your families. -Anonymous-
Alliance reply: Thank you for your support. If you would like to send us information about any IBM corporate activities in your country, it would be of great help to us and we would appreciate it very much. I don't know very much about the labor laws in your country. Please send us information: Contact Us. It will be confidential between us and IBM will NOT know about it.
In New York City, msnbc.com heard of doctors locating their practices on corners, so they can have one door where they take insurance and another door offering services for patients who pay cash up front for each procedure. We visited one of these clinics with two doors, to see how it works. The result is a glimpse into a two-tiered system of health care, a system that could be coming to a street corner near you.
Probe for a catch or caveat in that opposition, and none is visible. Can he support a public option if states could opt out of the plan, as the current bill provides? "The answer is no," he says in an interview from his Senate office. "I feel very strongly about this." How about a trigger, a mechanism for including a public option along with a provision saying it won't be used unless private insurance plans aren't spreading coverage far and fast enough? No again. So any version of a public option will compel Mr. Lieberman to vote against bringing a bill to a final vote? "Correct," he says. ...
Critics, of course, think Mr. Lieberman is merely protecting insurers from his home state of Connecticut. He, of course, insists otherwise, arguing that regulation and litigation are the traditional and more appropriate ways to keep the private market honest. The real risk he sees, he insists, is government debt.
"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.
On Tuesday, the American Financial Services Association even held a conference call with reporters to update them on its efforts -- successful so far -- to torpedo plans for a new Consumer Financial Protection Agency, which would protect people from the sort of lending abuses that led to last year's implosion. The ASFA, a trade group of credit card issuers, auto-finance companies, mortgage lenders and others leading the fight against the CFPA, took the unusual approach on Tuesday of publicly celebrating the reform's fading prospects. ...
The trade group's analysis was astute. But the presentation took a considerable amount of nerve. The AFSA's membership, according to its Web site, includes some of the best-known names of the financial crisis: CIT, CitiFinancial, Countrywide, EquiFirst, HSBC, Morgan Stanley, Wells Fargo Financial and GMAC. The trade group points out that its members did not directly receive bailouts from the Troubled Asset Relief Program (those went to banks, including some of the AFSA members' parent companies), but it's a safe bet that many of those firms would have failed if the government hadn't intervened to prop up the financial markets.
Now these same companies, suffering from some combination of amnesia and ingratitude, are determined to fight off regulatory efforts to prevent a repeat of the same cycle of bubble, collapse and bailout. Big firms such as J.P. Morgan Chase, Goldman Sachs, Citigroup and Bank of America -- direct or indirect beneficiaries of federal bailouts -- are all battling efforts to rein in derivatives. And credit card issuers, facing new regulations scheduled to take effect in February, have responded by increasing their rates and fees.
"Some folks have developed a comfortable Beltway perch sitting on these boards while at the same time working as lobbyists to influence the government," said White House ethics counsel Norm Eisen, who disclosed the policy in a September blog posting on the White House Web site. "That is just the kind of special interest access that the president objects to."
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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