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Technology Stocks : IBM
IBM 304.330.0%11:12 AM EST
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To: Arrow Hd. who wrote (7906)4/16/2003 9:23:26 AM
From: Jacques Newey  Read Replies (2) of 8220
 
Arrow:"the big shortfall issue was addressed last year."

They addressed it by slightly lowering their pension fund return assumptions, but they didn't resolve it. IBM's pension fund return assumptions are still too high. When they face the facts and lower return assumptions again it will have further downward pull on earnings. In the mean time they have their heads buried in the sand, IMO.
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