Posts Tagged ‘Employees’

IBM Suspended from ALL Government Contracts – YES!

I love it when too big for their ego companies get suspended, especially when it comes to cushony government contracts. You can lump IBM into those companies that are too big for their own good. To add to this, they treat their employees like crap. Just another billable body. Think of a consultant as a taxi, and the dispatcher as Big Blue IBM. The only difference is, actually, there is none!

IBM, based in Armonk, N.Y., did $1.4 billion in government sales last year. Its biggest customers were the Homeland Security Department, Army, Centers for Medicare and Medicaid Services, National Oceanic and Atmospheric Administration and Defense Information Systems Agency, according to USASpending.gov, a government Web site that details federal contracting spending. IBM and its subsidiaries are barred from receiving any new government contracts, new orders under existing contracts or purchase card transactions.

Global Credit Crisis – JP Morgan + FED tell Bear Stearns Your Mine

The world financial markets was working in overdrive through the weekend, til the amazing $2 a share deal of Bear Sterns from JP Morgan. You have many factors and loses are play here. First, is the 14,000 employees of Bear Sterns. I know first hand that many of the employees are beyond fearful. Bear Stearns is (WAS) a culture of very cocky and brash individuals. After losing their big stick swagger, looks like the job boards will be flooded with candidates.

On a different note, JP Morgan didnt get this company for free (eventhough it looks that way). The are TONS of assets in Bear Sterns that can not be valued. Furthermore, their are many companies that passed on the deal… and this is with a FED backed loan….. a great story of how a 20+ billion dollar company can perish to 236 million bucks in a sneeze.!

[nms:fortune magazine subscription,8,0]