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...somewhere else, to avoid the criticism that would follow if a rookie CEO didn't work out. So we get a transient band of failed leaders like Michael Armstrong at AT&T and Joseph Nacchio, most recently at Qwest. Whenever possible, companies should promote from within, as at IBM and GE. One immediate improvement would be to index the price at which a CEO can exercise stock options so the options have value only when the stock outperforms a peer group. And as Paulson said, CEOs should be required to disgorge any profit from stock sales in the 12 months...
...year than they had projected. Scotty Andrews, graduate-placement director at the University of Miami's business school, estimates that less than a fourth of the members of this year's graduating class have jobs. "It seemed like every major company that had traditionally come to recruit canceled--Disney, IBM, Citicorp," he says. Cornell's business school has gone so far as to turn itself into a pseudo-consulting firm, peddling its jobless M.B.A.s as cut-rate temps...
...five visionaries on our panel are--in addition to Kurzweil--Paul Horn, IBM senior vice president for research; Sandeep Malhotra, vice president for nanotechnology at Ardesta, an Ann Arbor, Mich., venture-capital firm and industry incubator; Chris Meyer, director of Cap Gemini Ernst & Young's Center for Business Innovation in Cambridge, Mass.; and Melanie Mitchell, a research professor at the Santa Fe Institute in New Mexico. They offer a glimpse of technologies--most of them already in use--that will reshape the way businesses are run and profits are made in the years ahead...
...tough job and one that will take much more effort than Horn and his 3,200 IBM researchers can muster: it will take an entire global industry. Horn has begun a crusade to make a reality of what he calls "autonomic computing," a network equivalent to the body's autonomic nervous system. That's what tells your heart to beat faster when you run to catch a bus or tells you to sweat when...
...IBM's idea is more metaphor than actual nervous system, but it is a metaphor wired into the "biology of business" Zeitgeist. Other industry thinkers have diagnosed the same problem and are competing for leadership with models of their own. Companies spend hundreds of millions of dollars each year paying technicians to regulate systems that theoretically could regulate themselves. Research at Big Blue has already led to products such as its Intelligent Resource Director software, which helps high-end zSeries mainframes allocate processing power where it is needed most. These products will offer big savings: It costs twice as much...