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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joss who wrote (24714)	11/24/1997 10:14:00 AM
From: Earlie	Read Replies (1) \| Respond to of 132070

Joss: With Gerstner staying on, you can also count on a continuation of the financial chicanery. IBM is a hollow shell of what it used to be. Gerstner is replacing IBM's falling high margin business (software, mainframes, PC's and maintenance) with low margin "service" contracts. He's also bidding at prices that frighten his competitors, and probably booking the ensuing revenues rather aggressively. Without a stunning (and very questionable) tax rate reduction, the company would have "missed" expectations. IBM is a great and timely short. Best, Earlie