Wow...Sam truly is a nut job

OK...a very good friend of mine works at IBM. He's understandably ticked off but this. IBM shareholders should be equaly ticked off. In the long run, this will drain the company of the one asset that has proven to be the most import in the history of IBM. It's workforce. Basically, this plan calls for IBM to divest itself of its current work for by replacing it with cheaper labor overseas. An interesting concept that has work in other industries, but the long range expectation and even the shortrange expectation of IBM is grim.

IBM is the largest producer of patents in the world. Now I'm not saying there aren't smart people overseas, but my goodness, 150,000 employees? That's half of their current staff to be replaced with people who will start on the projects THIS YEAR! Sam basically wants to start a company over..a redo. Is he that unimaginative that he can't make a profit with the world largest stockpile of patents and smart people?

If I were an IBM shareholder...and I have never really consider the stock since Gersten tried to run the company into the ground...I'd be very interested in a change of leadership at this company or atleast move IBM stock to your short list. This stock will go up for a little while and when the inovation stops...drop like a rock.

Happy Selling!