The following is from the Alert section of Steve Quayle. This could be an indicator of an economy ready to collapse. The normalcy bias is 'it can not happen here'. That was probably said in 29. Here we go.
Hi Steve, I had a meet with a buddy of mine. He is a high level guy at IBM. I've sent in previous alerts about IBM and some technology.
It has been my opinion for sometime that IBM will be filing for bankruptcy soon. This could be within a year or so, maybe more. The timing is something I can't be totally accurate on. So let me paint a picture.
- We have opened up 10 new office sites, each being multi-million dollar sites. Five of these are shut down do to loss of revenue. This is massive. They spent MILLIONS building these sites and their projects to deploy them and poof! - In the last few weeks, whole teams of skilled, seasoned professionals have been fired on the spot, to cut cost, even when their position is vital to success of projects we are working on. - Not long ago, a set of hardware failures happened at a given site. The replacement had to be put on hold for a $200 part because nobody could sign or had enough funds allocated to them for sign off. - More than 100 projects have been canceled or delayed due to financial issues. I estimate these projects to be budgeted at at least 100+ million dollars. Big projects... - People are being asked to change the hours they work on their time cards to lower employment costs (illegal BTW). - Third parties used to have a mechanism to sign for very urgent projects before receiving payment. For example, if IBM sent out a project support request to a third party, but IBM did not yet receive the funds from their client, there was a contractual promise to pay. From what I know, IBM always honored this. However, 3rd parties stopped allowing this due to the amount of requests like this they were receiving.
If you work at IBM or have friends who work at IBM. Tell them to make alternative plans ASAP. I don't care what position they are in. It is better to be safe than sorry.
-- Man Man
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To remove first post, remove entire topic.
The following is from the Alert section of Steve Quayle. This could be an indicator of an economy ready to collapse. The normalcy bias is 'it can not happen here'. That was probably said in 29. Here we go.
Hi Steve, I had a meet with a buddy of mine. He is a high level guy at IBM. I've sent in previous alerts about IBM and some technology.
It has been my opinion for sometime that IBM will be filing for bankruptcy soon. This could be within a year or so, maybe more. The timing is something I can't be totally accurate on. So let me paint a picture.
- We have opened up 10 new office sites, each being multi-million dollar sites. Five of these are shut down do to loss of revenue. This is massive. They spent MILLIONS building these sites and their projects to deploy them and poof! - In the last few weeks, whole teams of skilled, seasoned professionals have been fired on the spot, to cut cost, even when their position is vital to success of projects we are working on. - Not long ago, a set of hardware failures happened at a given site. The replacement had to be put on hold for a $200 part because nobody could sign or had enough funds allocated to them for sign off. - More than 100 projects have been canceled or delayed due to financial issues. I estimate these projects to be budgeted at at least 100+ million dollars. Big projects... - People are being asked to change the hours they work on their time cards to lower employment costs (illegal BTW). - Third parties used to have a mechanism to sign for very urgent projects before receiving payment. For example, if IBM sent out a project support request to a third party, but IBM did not yet receive the funds from their client, there was a contractual promise to pay. From what I know, IBM always honored this. However, 3rd parties stopped allowing this due to the amount of requests like this they were receiving.
If you work at IBM or have friends who work at IBM. Tell them to make alternative plans ASAP. I don't care what position they are in. It is better to be safe than sorry.
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