Word: gerstner
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...Palmisano has the easy, boyish grin and hearty laugh of the consummate salesman he has been for much of his 30-year career at IBM. He can seem quite a contrast to his predecessor as CEO, Lou Gerstner, a notoriously gruff, prickly outsider responsible for one of the greatest turnarounds in corporate history. But nearly a year after taking over the reins amid a lingering slump in corporate spending on technology, Palmisano, 51, has shown that he has sharp teeth behind that smile...
...spending on technology that often doesn't live up to expectations. Such skepticism is one of the principal reasons that IBM's 2002 earnings, which will be announced this week, are expected to drop more than 10%, a reversal from the solid, double-digit annual earnings growth that Gerstner consistently achieved--and that Palmisano is promising for 2003. That pledge will be all the harder to keep at a time when Wall Street is taking a much closer look at earnings quality, especially at IBM, which, while doing nothing illegal, has been known for boosting earnings with pension income, asset...
...starting with generating profits in PCs and corporate "enterprise systems" at her newly merged company, which posted $35 billion in revenues in its first six months. Can she go from being a Churchillian leader, adept at giving a "We will never surrender" speech, to being more of a Lou Gerstner, IBM's former CEO, who was able not only to slash costs and jettison unpromising lines of business but also to steer the company toward new prospects and profits...
...wants to work for a Wizard of Oz who bangs on the drums and decisions come out?” Gerstner asked...
...There are too many people paid lots of money for no performance,” said Gerstner, asserting that his triumph involved the highest of stakes...