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Technology Stocks : IBM
IBM 305.67+2.6%Jan 16 9:30 AM EST
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To: Charles Tutt who wrote (7932)6/3/2003 10:14:14 AM
From: Arrow Hd.  Read Replies (1) of 8220
 
Probably not, but PW holds huge clout and after the Enron debacles they are more conservative than ever. The pecking order within IBM from a General Manager's perspective is finance is first and finance looks to PW for agreement on any major issue.
Just to throw out another point to spice up the food fight, this revenue recognition issue is being touted as "confined to the IBM retailing unit". Wrong answer. Revenue recognition is a power reserved to the corporate office. All units follow the same guidelines. Think about it. A major account has an IBM Account Executive in charge who is responsible for selling the entire IBM product line of hardware, software and services. You can't have different guidelines for point of sale terminals versus mainframes.
I think this issue is going to surface as a piece of sub-minutia some SEC investigator found at the other company. Something like a "loaner" machine for backup reasons, a pre-released new product for beta test, a "trial" machine for some marketing purpose, maybe some uninstalled machines for backup or future store installations, etc. and the SEC guy is saying "hey, how is IBM accounting for these machines? Maybe we should go check them out too". Doesn't matter that jousting with a windmill is low probability stuff, this is a government operation, and if there was something there what a boost to someone's career. And what can IBM do about this? Nothing. Just like the Consent Decree that was finally thrown out after so many years.
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