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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: George W Daly, Jr. who wrote (5126)	5/5/1999 9:58:00 PM
From: Jim Koch	Read Replies (1) \| Respond to of 8218

George, if what you say is true, this is terrible for most IBMers! The impact on long term employees that do not qualify under the old plan is obvious. However, even for new hires, the new pension plan is not worth much. 5% of your gross earnings invested at T-bill +1% amounts to squat! IBM better start matching the compensation plans of the high flyers in this industry, and they better do it quick. Else, a lot of loyal IBMers who can shop their skills elsewhere at a higher price will leave. As a stockholder, I am concerned about this. I talked about this today with one of my good IBM friends. She is 37 years old, and has worked for IBM for 14 years. She is a 1 performer, makes well into six figures and is as blue as you can get. The kind of employee IBM must keep. She has been offered jobs elsewhere for almost twice as much money as she makes at IBM, which I have advised her to take. But no, she is so loyal to IBM, she wouldn't think of leaving. Well, she is working on her resume today. In this case, it is not so much the money, she will have plenty. She, along with many of her co-workers, feel that IBM has betrayed a trust. I worry that others feel that way also. It seems as if there must be more to this plan then is being discussed. From a business perspective, it does not seem to make a lot of sense. IMVHO {:O(