RE: A very expensive CEO for IBM

Posted in 2009

Ian Michael Gumby — Fri, 3 Apr 2009 15:15:30 +0000 — source: Usenet: comp.databases.informix

> Date: Fri, 3 Apr 2009 15:03:23 +0100 > From: obnoxio@serendipita.com > CC: informix-list@iiug.org > Subject: Re: A very expensive CEO for IBM > > eric@herber-consulting.de wrote: > > On 3 Apr., 12:48, Obnoxio The Clown <obno...@serendipita.com> wrote: > >> http://www.theregister.co.uk/2009/04/01/who_will_run_ibm/ > >> > >> Surely there's got to be a cheaper way? > >> > > > > Reactivating Phil White would be an option :-) > > And they say Germans don't have a sense of humour ... :o) > The irony is that prior to 'cooking the books', Phil White did a pretty good job. Under Sippl, the stock languished around $2-5 USD range. Phil came in after Sippl and the stock took off, split a couple of times and kept rising. I made a nice profit thanks to Phil long before '95. Of course I made a lot of money under Dexmier by selling out of the money covered calls too. ;-) Sippl was still on the Informix BoD and I believe he was the one who brought Illustra to Phil's attention. The only thing that went wrong is that Illustra was harder to swallow, hence Phil cooked the books. (Rumor has it that he learned that trick from his days at Wang (??) ) The irony continues is that prior to getting arrested, Phil took his ill gotten gains and made himself a billionare. With respect to the opinion piece ... you should read my comment. Steve Mills gets the nod, can't fix anything and then since IBM states that the bulk of their revenue now comes from outside of the US, maybe Ambush will get the call. After all, he's one of the few non-US names at the top of SWG's pillars. ;-) Ambush then decides that following IBM's strange but 'legal' accounting practices, that IBM should no longer be a US corporation and moves it offshore to a tax haven in an effort to continue building up and hiding IBM's offshore gains. _________________________________________________________________ Quick access to your favorite MSN content and Windows Live with Internet Explorer 8. http://ie8.msn.com/microsoft/internet-explorer-8/en-us/ie8.aspx?ocid=B037MSN55C0701A