Word: gerstner
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...creating sustainable, profitable growth--that seems to be the tricky part. Companies such as K Mart have performed brilliantly in the Sweeney Todd role, slicing overhead and enjoying the resultant earnings boost, but have failed to grow once the cutting stopped. That's the real problem facing Gerstner in the mirror each morning...
Wall Street, however, can't make up its wary mind about the miracle that Louis V. Gerstner Jr., IBM's seventh CEO, seems to have managed. In the past three years, Gerstner has brought IBM back from what his top lieutenant immodestly calls a "near death experience" instigated by the company's slavish commitment to mainframe computing, a business that started to dissolve sometime during the Carter Administration. Since arriving in April 1993, Gerstner has refocused IBM on businesses that actually exist, unplugged more than 40% of the work force, tripled its once crippled stock price and, in the process...
...plans to battle the software giant by linking consumers to accounts through the Internet, and with financial software like Intuit's Quicken. The partners will also set up interactive kiosks that act like bank branches for home banking away from home. "With this new venture," says IBM chairman Louis Gerstner, "electronic commerce will take its biggest step forward to date...
TIME's test drive last week revealed a fast, easy-to-use operating system that hints at what may be Gerstner's real ambition: an operating system designed and optimized for the Internet. IBM's thinking seems to be that the Net could be its best weapon yet in the war against Microsoft. Herewith, an exclusive look inside the Net-friendly program...
When Louis Gerstner arrived as CEO of IBM nearly three years ago, industry insiders saw the company's also-ran computer-operating system, called OS/2 Warp, as a likely target for the corporate ax. With just 13 million users, far behind Microsoft Windows' 120 million, OS/2 seemed doomed. But instead of killing the project, Gerstner beatified it, assigning the company's top engineers to it and giving V.P. Wally Casey a blank check for development. The results of the effort, code-named Merlin, will begin shipping to beta testers in the next month...