Word: morgan
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...time when she must parry new threats from IBM and Dell. Both have spent the past year bulking up major parts of their businesses, while HP has been on a low-cal diet, trying to restore its flabby enterprises to health. As analyst Bill Shope of J.P. Morgan Chase puts it, "IBM is trying to squeeze HP at the upper end of the market, while Dell is challenging it at the lower end. HP has carved a spot in the middle, but it's not clear if that's where it should...
Having PWC helped IBM win exclusive negotiating rights for a $5 billion deal with J.P. Morgan Chase this month. HP did not bid for that job, and in February neither HP nor Compaq was able to beat IBM for a $4 billion contract with American Express. Says Doug Elix, chief of IBM Global Services: "HP reminds us of where we were 10 years ago when we were building our services and got into outsourcing. It takes a long time to build services that have the breadth ours do." As evidence that it can tackle IBM in large outsourcing jobs...
DIED. EDDIE BRACKEN, 87, New York City-born comedian and actor who played, with hilarious but heartbreaking pungency, the perfect small-town sap in two classic 1944 Preston Sturges comedies, The Miracle of Morgan's Creek and Hail the Conquering Hero; in Montclair, N.J. His 70-year show-biz career included a Tony-nominated stint opposite Carol Channing in Broadway's Hello, Dolly!; a recurring guest role on TV's The Golden Girls; and appearances in the films National Lampoon's Vacation (1983) and Rookie of the Year...
Barker was a Wall Street executive and an expert on educational endowments. He worked in the statistical and investment departments of J. P. Morgan in New York and later became a partner with William A. M. Burden...
...cost cuts--especially layoffs--as one of the few ways to eke out profits. Companies have already cut 1.2 million jobs this year through October--that's about 3,600 a day--according to Challenger, Gray & Christmas, the Chicago outplacement firm. Sun Microsystems, Boeing, McDonald's and J.P. Morgan Chase have announced that they will slash thousands more jobs in coming months, and many experts predict still other layoff announcements by year...