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To: Cynic 2005 who wrote (44712)	12/6/2000 6:21:30 PM
From: patron_anejo_por_favor	Respond to of 436258

<<It looks like they have retorted to a cash conservation strategy during the quarter. Exhibit A - they either cut year end bonuses or eliminated the bonus for some groups completely! Why do you think it is?>> I bet the announcement of a share buyback after last Q announcement played real well with the IBM Homies, given the subsequent bonus cuts!!!<GGG> This one's still a sell and hold in my book. DISCLOSURE: I'm shorter than Mini-Me on IBM!

To: Cynic 2005 who wrote (44712)	12/6/2000 6:36:20 PM
From: pater tenebrarum	Read Replies (4) \| Respond to of 436258

where is Earlie's analysis? i haven't seen it... let me comment on the points you're making: 85 c. on the dollar for their debt IS terrible...for a company of IBM's pedigree. it is almost hard to believe in fact. regarding cash conservation, if they ARE into cash conservation, that's a sure sign of trouble...as we all know the one item that really expanded most quickly on their balance sheet in recent years is their debt - used mostly to buy back stock and thereby artificially inflate per share numbers while their business has barely grown. regarding the pricing strategy w.r.t. mainframes, i can confirm that...know from the resellers in Austria that some buying was spurred by the announcement, but that order back-log has dried up completely for the period after the price hike. and yes, they like to drop their bombs when they announce earnings, and not before. but i can't help thinking that rumors will soon proliferate, and that might force their hand. lastly, the chart looks terrible.

To: Cynic 2005 who wrote (44712)	12/7/2000 4:37:50 AM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

analysis on IBM. I believe that it is finally time that the accounting gimmicks will catchup with the company! Cynic, Your ANALysis hurts so bad, but I believe it may be true.

To: Cynic 2005 who wrote (44712)	12/7/2000 9:59:36 AM
From: Cynic 2005	Read Replies (1) \| Respond to of 436258

Before I posted that note, I was not aware of the fact that there were rumors about possible preannouncement from IBM. Also, Fleck mentioned it on the Rap last night! History in the baking. . . A little fuel was thrown on that fire when Circuit City (CC) preannounced yet again and that stock promptly dropped $3 to $9. Also, it appeared that the Hewlett-Packard (HWP) analyst meeting would not produce any sizzle, and that stock was down 10 percent. IBM (IBM) was down 5 percent as rumors swirled of a preannouncement -- something IBM has never done before. Microsoft (MSFT), too, was feeling the pressure, down about 4 percent as folks appeared to contemplate the once-unthinkable, i.e., a preannouncement. So it was a clean sweep on the downside for anything related to PCs.