Why do the behemoths
such as GE and IBM seem to get into such gut-wrenching messes so soon after the departure of favored CEO's? It makes you believe the seeds of their problems were evident under the old watch. IBM plans to lay off as many as 8,000 workers, or about 2.5% of its world-wide work force, during the current quarter. [Wall Street Journal]
such as GE and IBM seem to get into such gut-wrenching messes so soon after the departure of favored CEO's? It makes you believe the seeds of their problems were evident under the old watch.
IBM plans to lay off as many as 8,000 workers, or about 2.5% of its world-wide work force, during the current quarter. [Wall Street Journal]
The #2 teleco
WorldCom's debt was slashed to "junk" levels by Moody's and Fitch, as the telecom company's banks asked that it put up collateral to secure $5 billion it is seeking in credit lines. The three-notch downgrade raised speculation the firm eventually will have to file for bankruptcy-court protection. [Wall Street Journal]
Buy from each other, account for it differently!
SEC Probes Global Crossing Swaps [Wall Street Journal]
© Copyright 2002 Steve Pilgrim.
