International Business Machines
Headquarters:
1 New Orchard Rd.
Armonk, NY 10504
Employees: 355,766
CEO: Samuel Palmisano
Website: http://www.ibm.com
Stock Symbol:
IBM
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IBM is the world's largest information
technology company. It is a leader in developing computer servers,
software, storage devices and microchips. It also fields a large
business consulting division.
The company has operations in more than
60 countries. It has a major presence in New York with headquarters
in Armonk, research facility in Yorktown Heights, and a massive
chip-making facility in Fishkill. IBM is a world leader in research
and development and number of corporate patents received annually.
In 2007, IBM reported revenues of $98.8
billion, up 8 percent. Net income was $10.4 billion.
From a geographic perspective, the Americas'
full-year revenues were $41.1 billion, an increase of 4 percent
as reported (3 percent, adjusting for currency) from the 2006
period. Revenues from Europe/Middle East/Africa were $34.7 billion,
an increase of 14 percent (5 percent, adjusting for currency).
Asia-Pacific revenues increased 11 percent (8 percent, adjusting
for currency) to $19.5 billion.
Revenues from the Global Technology Services
segment totaled $36.1 billion, an increase of 12 percent (7 percent,
adjusting for currency) compared with 2006. Revenues from the
Global Business Services segment were $18.0 billion, up 13 percent
(9 percent, adjusting for currency). Systems and Technology segment
revenues were $21.3 billion, a decrease of 3 percent (6 percent,
adjusting for currency). Software segment revenues in 2007 totaled
$20.0 billion, an increase of 10 percent (6 percent, adjusting
for currency). Global Financing segment revenues totaled $2.5
billion, an increase of 6 percent (2 percent, adjusting for currency).
"IBM had a terrific fourth quarter
and full year with record revenue, profit and cash. The broad
scope of our global business --- led by strong operational performance
in Asia, Europe and emerging countries --- as well as continued
growth in services and software drove these outstanding results,"
said Samuel Palmisano, IBM chairman, president and chief executive
officer.
The company stopped making contributions
to its pension plan after Dec. 31, 2007. To make up for the end
of the pension plan, IBM will increase its 401(k) contribution
to as much as 10 percent of pay. To provide this benefit through
its new 401(k) Plus Plan, IBM plans to double the current company
match to dollar-for-dollar on up to 6 percent of salary deferrals,
and to make additional automatic contributions of 1 to 4 percent
of employees' pay into their 401(k) account.
The company has about 73,000 jobs in India
making up nearly 20% of its total workforce.
History
IBM was incorporated in the state of New
York on June 15, 1911 as the Computing-Tabulating-Recording Company
(C-T-R). It was formed by Charles Flint, a noted trust organizer,
who engineered the merger of Hollerith's Tabulating Machine Company
with two others - Computing Scale Company of America and International
Time Recording Company.
Based in New York City, the company had
1,300 employees and offices and plants in Endicott and Binghamton,
NY; Dayton, OH; Detroit; Washington, D.C.; and Toronto. The combined
company manufactured and sold machinery ranging from commercial
scales and industrial time recorders to meat and cheese slicers,
along with tabulators and punched cards.
Thomas Watson, Sr. joined the company as
general manager in 1914 and soon became President. He doubled
sales to $9 million in just four years.
IBM would continue to grow over the next
few decades and build new devices such as calculators and typewriters.
This would lead the company to develop mainframe computers for
use by companies and the military. In 1981, IBM developed its
own personal computer (PC) using a processor from Intel and Disk
Operating System (DOS) software from Microsoft. This would kick
off a new era of technology by bringing computing to the masses.
While IBM built more PCs, the operating
system software was owned by Microsoft, which in turn licensed
the software to run the computers to other manufacturers. Many
businesses and consumers bought computers, but not necessarily
from IBM. Companies such as Hewlett-Packard and Dell would soon
dominate the industry for computer sales.
IBM recently sold its money-losing personal
computer division, which includes Thinkpad laptops, to Chinese
corporation Lenovo for $1.75 billion.
Benefits and Pay
IBM workers receive excellent pay which
include base salary, performance bonus, commissions, awards and
other forms of earnings. For most eligible employees, the target
performance bonus opportunity is 2-8 percent of eligible annual
earnings - with the potential for greater rewards for extraordinary
performance.
Health insurance
- Three IBM Medical Plan options and various
health maintenance organizations (HMOs) are available.
- Two IBM Dental Plan options and dental maintenance alternatives
(DMAs) are available.
- Vision coverage.
- Health care and dependent care spending accounts are offered.
Days Off
Employees with 1-9 years of service get
15 days off. With 10 or more years of service, 20 days of vacation
a year.
IBM also offers 12 holidays a year - usually
six observed nationally. The other six vary according to operational
requirements with at least one personal-choice holiday.
Telecommuting and work-week balancing schedules
are available in many business units with prior management approval.
Savings Plan
Employees can contribute up to
80 percent of eligible compensation each pay period on a before-tax
basis, and up to 10 percent on an after-tax basis, up to amounts
permitted by tax laws. For eligible employees, IBM offers a dollar-for-dollar
match, up to the first 6 percent of pay you contribute to the
plan. Employees are eligible for this match after one year, and,
once eligible, are fully vested. (Employees are always fully
vested in their own contributions.) This plan will change in
2008 when the company freezes contributions to pensions.
Stock Purchase Plan
Each pay period, employees can
contribute up to 10 percent of eligible compensation to purchase
IBM stock at a discount of 5% off the price on the date of purchase.
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