I.B.M. finds obstacles in its headhunt; 3 top candidates have already said no to job
Article Abstract:
IBM is finding it difficult to find qualified candidates who are willing to accept the post of chief executive in an effort to replace John F. Akers. Apple's John Sculley, Allied Signal Inc's Lawrence Bossidy and former HP president John Young have all declined offers. Analysts contend that the new chief executive will be considered a hero if able to turn the company around but will always be considered a failure, regardless of previous triumphs, if unable to revive IBM. The company's board hopes to complete its search to coincide with IBM's annual meeting scheduled for Apr 26, 1993. Candidates that are speculated to still being considered include Motorola Inc's chief executive George M.C. Fisher, RJR Nabisco's chief executive Louis V. Gerstner and Perot Systems Corp's chief executive Morton Meyerson.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
I.B.M.'s net is up, but stock dips; $1.25-a-share profit is below estimates
Article Abstract:
IBM reports profits that increased fivefold in 2nd qtr 1992, but its stock price dropped more than five percent in heavy trading after the announcement. IBM is in the middle of a massive reorganization plan that involves cost cutting and improving profitability. Investors recently misjudged the company's earnings projections and displayed their disappointment by driving shares down $5.25 each to $95. IBM reports 2nd qtr net income of $714 million or $1.25 a share, up from 1991 when the company posted a net income of $126 million or 22 cents a share. The revenue is partially due to the introduction of new lines of mainframe computers, software and services. Consensus estimates of IBM stock at $1.33 a share, were higher than the company's actual earnings of $1.25.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Rolm sale by I.B.M. to Siemens
Article Abstract:
IBM is selling its remaining 50 percent stake in the Rolm company to Siemens AG. IBM is making a concerted effort to increase its profitability and would like to boost its return on equity to 18 percent by 1994. IBM acquired Rolm, a switchboard producer for PBX's, in 1984 for $1.5 billion. IBM sold the manufacturing and development half of Rolm to Siemens in Dec 1988 for over $1 billion. Under a current contract, IBM and Rolm sell Rolm systems jointly. The change in ownership does not affect the joint marketing. Rolm is losing money in the PBX market, but had revenues of $600 million in 1991. Single management of the company may help Rolm streamline administration. The company plans to see some work force reductions as a result of attrition, not layoffs.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: CRTC turns radio on its head with landmark satellite ruling. CHUM to be patient with sports format
- Abstracts: Those dancing cats on Quebec's hot tin roof. Gil Remillard: a voice of reason speaks out. The closet federalism of the Parti Quebecois
- Abstracts: The 'Minister of Fun:' a sex scandal rocks the Tory government. Scotland's separatist aims
- Abstracts: In thick and thin. The debt doctors. The rating game