Word: morgan
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...CIOs desperate to cut costs and focus on their core businesses, IBM believes it can, in the words of a money manager who owns the stock, "wrap its arms around customers even more" by supplying IT seamlessly, on demand, on a variable, pay-as-you-go basis. J.P Morgan Chase bought Palmisano's pitch, as did American Express. But it's not yet clear how many others will be willing to hand over more control to IBM. And fine-tuning the technology to accurately measure and bill customers for their usage will be no small feat. But if Palmisano...
...which gave IBM the people and contacts to turbocharge its services business, and has paid $2 billion for Rational Software, which provided new software-development tools. He agreed to sell IBM's money-losing hard-drive business to Hitachi. And he's still working his magic on clients: J.P. Morgan Chase just agreed to pay IBM $5 billion over seven years to take over much of the financial giant's elaborate IT operations...
...such as Germany's Schering. A mid-sized suitor would be attracted to Bayer's existing U.S. sales and Bayer management could receive 30-40% of the shares in such a combination. "There is nothing in it for big companies like Glaxo," says Colin Isaac, an analyst with J.P. Morgan. "Bayer is No. 18 in terms of sales but in terms of profitability they are 43." Small size is not an issue in the marriage of Pfizer and Pharmacia. The main driver for their merger is that Pfizer lacks blockbusters in its pipeline. By buying another giant, Pfizer gets...
...passion. When he felt negotiations with the 12 banks had dragged on too long, he decided to play tough. He instructed the top lawyers of five of the major banks to come to his office. When they arrived, he lit into them. (One CEO was also present, Morgan Stanley's Philip Purcell.) "Spitzer was harsh, irate, yelling at times," one of the lawyers told TIME. Spitzer said he was fed up with their haggling, that they should be ashamed of what they had done to investors, that they were acting "like children in a sand box." He told them...
...have been thoroughly institutionalized, to steal the words of Morgan Freeman’s character Red in The Shawshank Redemption, and nothing betrays the influence of the Harvard ethic on our psyches better than a short stay in our pre-Harvard worlds. Old pleasures like watching TV, going to the movies or hanging out in the Starbucks parking lot lose their novelty after only a few days. High school gossip, while always good for a few laughs, is still high school gossip. And anything is safer than a moment to reflect on the horror we left behind...