Word: ibm
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Dates: during 1990-1999
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...Fisher joins a growing band of rescue artists of the not-grown-at-home variety. Prominent among them is Louis V. Gerstner, who was recruited in March from the top job at RJR Nabisco to become chairman and CEO of IBM, the once great computer giant that has lost $8.37 billion so far this year. In June a troubled Westinghouse Electric asked Michael H. Jordan, a partner at the New York City investment firm Clayton Dubilier & Rice, to succeed outgoing chairman Paul Lego. Former Union Pacific chairman Michael Walsh replaced James Ketelsen at Tenneco, a Houston-based auto-parts, shipbuilding...
What all these CEOs bring to their new job is a willingness to challenge every aspect of the corporate culture -- and that almost always means cutting jobs. Gerstner is continuing to reduce the work force at IBM, which has already lost 180,000 jobs over the past eight years. Under Bossidy, Allied Signal has taken employment down by 13,000. At Kodak, Fisher will inherit his predecessor's last restructuring plan, which will lower the head count...
Brokers always say that it's time to get out of the market when strangers begin offering stock tips--when everyone and their mother is talking about IBM, AT&T, and Boeing, it's time to sell. About ten months ago, everyone and my mother began talking about "grunge." My mom asked if I wanted to order some "grungy-style" flannel plaid shirts from LL Cool Bean, and fashion designer Donna Karan came out with a line of grunge wear so that Upper West Siders could look as liberal as they feel. It was time to sell...
Last month IBM rolled out a line of workstations based on the PowerPC 601 chip (another term for microprocessor). While the chip itself costs only half as much as a Pentium chip from Intel Corp., the cost of the IBM machines is driven up by power features and priced toward the workstation market. Rumor has it that both IBM and Apple will release PowerPC-based personal computers next year...
...best selling point of the PowerPC is not its raw speed--after all, Digital Electric Corporation's Alpha can now run four times as fast, at 200MHz--but its promise to run a host of different operating systems. With backing from both Apple and IBM, PowerPC computers will be able to run programs written for the Macintosh, MS-DOS, Windows, OS/2, UNIX and other platforms, although such compatibilities must be provided through software...