Louis Gerstner Quotes

As we enter the next phase of IBM's transformation, we need a new organizational approach that will strengthen our focus on both day-to-day marketplace results and future growth opportunities, ... I believe this new structure is the best way to accomplish these goals, under the leadership of two of IBM's most experienced and capable executives.

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IBM itself is very positive about the recent quarter. We achieved good earnings results despite a number of challenges, ... We have been able to deliver consistent financial results because of the breadth and diversity of our overall business portfolio, which is unmatched in our industry.

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Our second-quarter results are right in line with our expectations and with the view we've been expressing since last October, ... Essentially, we've had three quarters of slow revenue growth, driven by a combination of the Y2K slowdown and a series of actions we've taken to improve our business portfolio. During that time, however, we have been able to produce satisfactory earnings growth.

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The next thing is we can make IBM even better, ... We brought IBM back but we're gunning for leadership.

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Services is clearly the largest and fastest-growing portion of the information technology industry, and we continue to extend our leadership position each quarter, ... Our software business continues to gain momentum.

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We would like to have seen more revenue in the quarter, but we were held back by three items, ... First, demand for our microelectronics products -- from both outside customers and internal IBM customers -- far outstripped our ability to supply components. Second, the upcoming release of our new high-end server slowed demand for the System390 family of servers. Finally, parts of our software business slowed unexpectedly in September.

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In each instance, Sam has done far more than manage operations effectively, ... He has made it both his personal mission and that of IBM to become the number one competitor in each of these markets. Sam's unique mix of strategic vision, passion and discipline, combined with his intimate understanding of IBM, make him the right person to become IBM's next CEO.

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In 2001, the company faces concerns that economic softness in the United States could worsen and expand into non-U.S. markets, ... Increasingly aggressive price competition and the potential effects of ongoing adverse currency movements are other areas of volatility.

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On a positive note, our services business continued to overtake the Y2K pause that pressured the first half of the year, ... Our PC business rebounded strongly, with particularly good demand for our server and ThinkPad products. In addition, our business in Asia continued to grow strongly.

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Computers are magnificent tools for the realization of our dreams, but no machine can replace the human spark of spirit, compassion, love, and understanding.

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These results show the ongoing strength of our broad business portfolio, ... We saw very good customer response to our new System390 servers and continuing strength in services and hard disk drives.

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we are facing a number of significant short-term issues, including an uncertain global economic environment, ongoing weakness in some parts of Asia and Latin America, and continued price pressures in semi conductors.

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