IBM exec's arrest leads to 'cheering in the halls'

‘Cheering in the halls'
Moffat is high up in the mid-Hudson IBM food chain, with some of the top managers there reporting to him. Employees in IBM's Systems and Technology Group make up the largest bloc of the company's more than 9,000 workers in the mid-Hudson.

“I have talked to a few IBMers today, and there seems to be a lot of cheering in the halls of IBM over his arrest,” said Lee Conrad, national coordinator of the employee-backed Alliance@IBM. “Employees are fed up with the executives of the company who seem to not care about the plight of the working people.”

Some of that ill will is because some of the most severe cuts in the mid-Hudson have been under Moffat's watch.

“I believe it is indicative of the corporate culture inside IBM now,” Conrad said. “It is all about greed. Slash jobs and payroll while the executives continue to get rich on bonuses, compensation and stock options.”
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20091016/BIZ/910169965

This isn't a new development.

My first husband used to come home with significant raises and benefits increases and he was just a field engineer and I'd always wonder how that was possible without Unions, but that stuff just kept on coming year after year. It really was a "cradle-to-grave" culture that did produce excellence until the late '70s - early '80s (?) when they sold off a big chunk of their business to Kodak and there were all of these early buy-outs, many of which were un-fair, that the IBM "Family" got a divorce and split up the kids and things were different after that.

I always thought it was a little cult like, but in retrospect, you have to give them credit for creating a Japanese style corporate culture.

They had a fucking country club and golf course for all employees, from mail boys up to execs. If you were a low level engineer (my ex) and did a great job on something, they flew you in the lear jet for dinner.

I've never seen anything like it in the history of American business.

Then they got threatened during the era of hostile takeovers, and they completely screwed up the rise of personal computers and became a shell of their former selves, laid off tens of thousands, sold off divisions and basically became nearly irrelevant to the computer industry.

good lives at the time..

I'm Being Monitored

was the worst experience of my life.

Heard in the halls were more than a few employees singing "Ding dong
the witch is dead!". Only they weren't saying "witch".

Not all high executives are as loved as their publicists would lead you
to believe!

Tesha

and from where I'm standing they won't ever recover.

Edit: Self-censor

These two talked like they personally could make him the CEO of IBM. Neither of them even worked for IBM. Chiesi worked for Bear Stearns, and Rajaratnam is a partner with Galleon Management.
Not only that, but they talked like they could place him in other companies at will. :wtf:

so I imagine that it's the same guy.

Confiscate their money, and let them rot.

for financial crimes.