IBM Message Board - Msg: 19000677

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Technology Stocks : IBM

IBM 309.13

+0.9%

3:59 PM EST

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To: Victor Lazlo who wrote (7937)	6/4/2003 9:44:36 AM
From: Arrow Hd.	Read Replies (1) of 8218

Hi Victor, regarding the JDSU issue, the SEC was involved and left without saying a thing because the accounting methodology that IBM used was not illegal. Also, the stock buy-backs were necessary for IBM to meet its earnings commitments and the analyst's estimates. Everyone acknowledges that. The IT business has been difficult the past number of years and when you are the size of IBM it is difficult to have the kind of performance a smaller niche company can have. Of course, you know that. What if they didn't buy back stock? What if they continually missed earnings when they could have done something about it. Then the out-cry was for investment in growth. So they grow into the services sector and what happens? They get slammed on entering a low margin business. Then they buy PWC for an unbelievably low price and they get slammed again. You just can't make some people happy and the slammers never offer other options. Nothing is going to come out of this new SEC "investigation" because it is tangential to another investigation of an independent retailer. Fred Hickey has a great following and some pretty smart folks like Joan Graffius like him. I respect her opinion and by the way, we have a lot of smart folks visit this thread who don't always agree so please stay around and continue to contribute.

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