Skip to comments.IBM Posts Big Fourth-Quarter Profit Rise
Posted on 01/18/2007 5:30:21 PM PST by jdm
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IBM Posts Big Fourth-Quarter Profit Rise
We used to sing this song during Engineering week (St. Pat's week), at Mizzou in the '60s. I never forgot the words and have adhered to moral of the story for over 30 years.
To the tune of The Ballad of John Henry, The Steel-Drivin' Man
[Sung lyrics are in normal text; spoken narration is in italics.]
Now a famous American folktale...
When John Henry was a little baby,
When John Henry was just a little baby, he decided that, when he grew up, he was gonna be a Thinkin' Man (with a filter!*). So he decided to go to college and learn all about thinkin'. Well, he did, and he learned all about:
Algebra and thinkin',
(But he always had a little trouble with English, though...)
Grammar's gonna be the death of me, Lawd, Lawd.
(He didn't do too well in Greek, either...)
Homer's gonna be the death of me, Lawd, Lawd.
John Henry finished college, and he became a very competent thinker (which is unusual); and he decided to go out into the business world, where they do a lot of heavy thinkin', and get himself a job as a Thinkin' Man.
Well, his first job was with the John Birch Society, thinkin' up Communists.
Well, as you all know, the government is very economy-minded, always trying to cut down on costs. So one day the CIA brought in an efficiency expert, trying to cut down on manpower. Well, he looked around and hollered out:
Automation! Automation! Automation!
Now the expert said to John Henry,
Now the man who invented the computer (la-di-da)
Now John Henry said to the inventor,
So it was proposed that John Henry and the computer have a race.
The inventor punched out a card for the computer...
The race was on!
John Henry started in a-thinkin',
They took John Henry to the bughouse,
"Don't ever doubt the thinkin' power of men."(But, on the other hand...)
"Don't ever sell your stock in I.B.M."
"IBM Posts Big Fourth-Quarter Profit Rise."
...and is down -$5.21/share in after hours trading as a result...it never fails.
I think IBM is more innovative than a lot of tech companies.
They put out an impressive number of patents every year.
SAN FRANCISCO (Reuters) - IBM's (NYSE:IBM - news) quarterly profit rose 11 percent, but its shares fell 5 percent as the earnings failed to beat some investors' forecasts and computer hardware sales lagged some targets.the above Reuters feed, and I believe AP as well, are worthless. The stock fell back .5%, not 5%. You would think they would do their homework on something as big as that.
Just saw that ... apparently back up a percent this morning. Profit takers, no doubt.
Apple did even better financially and they tanked even deeper - same cause, I assume.
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