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Kansas
City, MO - IBM Stockholders Meeting, April 29, 2003 There was a decidedly warmer atmosphere at Sam Palmisano's first Stockholder Meeting since the monstrously behaved Gerstner left IBM. Sam was out in the demo area that preceded the meeting room, shaking hands and slapping backs of the stockholders that were there, in stark contrast to Gerstner's disdain for hobnobbing with the common people. Even the colors on the stage background were warmer than in the past. During Sam's speech about the state of the company, his voice rose noticeably louder when he stated that IBM has funded the pension plan to the tune of $4 billion dollars. This emphasis I believe can be credited to the increased sensibility our executivess have about the pension, due to our continued strong activism over this issue. Alliance members posed most of the questions this year, and answers from Sam were free of the vitriol that characterized Gerstner's responses in previous years. In fact, last year, I was so tired of Gerstner's condescension and arrogance that I formed my question as a statement and requested no answer; Lou did move on to the next question, but couldn't resist an interlude about how, again, employees who have been financially ripped off are merely afraid of change. My question this year was about employees' concerns about having their jobs moved to low-wage countries. I have seen many instances of this happening, even where employees in the US had to train their replacements in India (for instance) before being let go. Predictably (and disappointingly) Sam answered that IBM is a global company and hires talented people everywhere. Perhaps he is unaware of the Global Services monthly goals of moving millions of dollars of work overseas. After the meeting, Alliance members, local CWA members and other supporters gathered in the adjoining park for a spirited rally. The results of voting at the meeting were: 1. Election of directors -- all 10 directors received a
plurality. The following articles have some lively reporting about the meeting: http://www.nyjournalnews.com/newsroom/043003/d01w30ibm.html http://www.poughkeepsiejournal.com/wednesday/business/stories/bu043003s1.shtml http://www.kansascity.com/mld/kansascity/business/5746051.htm
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