by Anura Guruge
Related Posts: ++++ Search on ‘IBM’ & ‘mainframes’ for MANY other Wolfeboro related posts >>>>
Market Caps [viz. all outstanding shares x current stock price] are kind of funny though there is no denying that they do tell a very telling tale. After yesterday evening’s stellar, ‘blow-out’ 2Q results by Facebook it now has a Market Cap higher than most companies — including IBM. To me that is sobering and scary. I used to own IBM, but never on a large scale and never for long. I have been in CSCO and AAPL for longer and for larger positions. But, IBM, as I would often write in my various columns and articles is, or definitely was, in my blood. My claim used to be, in the context of where I stood when it came to IBM vs. the ‘rest’ [and I am old enough to remember the 'BUNCH'], was that when ‘cut’ I always bled ‘dark blue‘. IBM was my life from 1974 to c. 2004. Though I only worked for IBM, as an employee, for 5 years (and a part-time consultant for a year), my expertise in many things IBM, in particular mainframes and networking, and I was, “Mr. SNA” for two decades, was how I made a living from 1980 to c. 2010. I followed IBM like there was no tomorrow. I had to. That was what was expected of me.
<< BUNCH = Burroughs, Univac, NCR, CDC and Honeywell. RIP. >>
To see IBM missing out on ‘social’ and ‘mobile’ distresses me. I still care for IBM. It is part of my life and legacy.
IBM screwing up on technology trends, of course, is not new or news. IBM, though it came up with the term ‘PC’, in the end missed out on the PC revolution. OH, do I remember OS/2! Missed out on minis too — and I speak as one that worked for Wang and DG. Lost networking too — and that is what hurt me, in every sense, psychologically and financially. I won’t even mention (bloody) ATM (and NO, we are not talking cash dispensing ATMs) or the (damned) nWays. Talk about Lost Opportunity Costs! Oh dear.
IBM should have, could have, acquired any of these ‘social’ companies if it really tried.
‘Cloud’ is now its big thing. I smile. I have seen this all play out before. Grid Computing, Autonomic Computing (and I even started writing a book on ‘Grid & Autonomic’), SAA … the list goes on.
But what the Market Cap does not reflect is IBM’s continued revenue stream and real, tangible assets.
Facebook, per yesterday’s run-rate, probably will end up with 2014 revenues of around $15 Billion. That is good. IBM, on the other hand, will end up close to $100B!
IBM’s balance sheet states that it had, in 2013, $51B in assets. Facebook, in 2013, had $13.7B.
But here is where I, having had first hand experience of SOME of the amazing properties, see a huge difference. IBM, like the Vatican, has some dynamite real estate investments. ‘Hursley Park’ where I worked is a gem. But, they have so many like that — many in the U.S. Yes, they have divested themselves of MANY since the 1980s. But, per the balance sheet they still have over $50B in property, buildings and land. Facebook $6B.
But, Market Cap does not lie!
Market Cap reflects investor sentiment and belief — and therein lies the rub. Investors, rightly, think of FB as the future, IBM as the past.
I own 5 FB shares! I didn’t bother with the IPO. I knew I wouldn’t get any. Instead, just for fun, I bought 5 shares, on the IPO day for “free” (i.e., using money from an AAPL options call I wrote), at the IPO price, just to say that I had participated in the IPO of the ‘year’. Yes, now it is up 91% — which, alas, is still not that great!
Anyway just was just a ‘stream of consciousness’ because it bothers me to see IBM continuing to lose GROUND.
New Hampshire Insurance Department, Finally, Acknowledges The Threat To Obamacare (i.e., ACA) Healthcare Subsidies.
by Anura Guruge
++++ Search ‘healthcare’ & ‘Anthem’ for the many, many posts on this topic >>>>
∧∧∧∧ Also Category ‘Health Care’ that should bring up ALL ‘Obamacare’ posts >>>>
They have finally managed to extricate their necks from the sand.
Remember, it was I who gave you the heads up July 17 — a week ahead.
by Anura Guruge
++++ Check Category ‘New Hampshire’ >>>>
This seems good BUT it appears that there is more to this than the #4 rank indicates.
The rise in child poverty in New Hampshire seems to be the concern.
Yes, we have first hand experience of that — all around us here.
We have child poverty in Alton. That there is child poverty in this country
never ceases to amaze me.
I expect that in 3rd World Countries, including where I grew up.
I am used to seeing children living and begging in the streets
in Sri Lanka and India.
by Anura Guruge
++++ Check Category ‘Events’ and ‘New Hampshire’ >>>>
σσσσ Search ‘Manchester’, ‘Portsmouth’, ‘Wolfeboro’, ‘Alton’ et al. >>>>
I am not a beer drinker. I probably haven’t touched a beer, an ale, a larger or a stout
in probably 2o years if not more.
Beer just does not do anything for me.
Wine is my preferred poison and my capacity for it is
basically unlimited though I restrict myself to just
one (large (maybe very large) diluted glass
a day with maybe 2 exceptions a month.
I am very partial to whiskey, brandy, rum
and Crème de menthe as well and my
reputation (as a true Brit) for being able to drink Americans
‘under the table’ used to be legendary though I don’t
do that anymore.
During my first two years at IBM Hursley, 1974 – 1976,
due to a firm, established ritual among the very
elite “System Support” (SS) group that I worked for
I used to drink 8 pints of Guinness at lunch
every day, Monday to Friday –
and maybe a couple in the evening!
It was part of the T&Cs if you wanted
to be a member of that Group.
It was like a daily initiation rite.
8 in the group, each had to buy a round:
it had to be Guinness and you
better drink like a man.
Yes, we worked for IBM. Crème de la crème no less.
Yes, at that time there were parts of IBM,
in the U.S., that was dry BUT
IBM France & IBM Germany
had beer and wine in the cafeterias.
Thank YOU (again) Les Brown?
8 pints of Guinness a day is not kind to your waist.
But, I think it is good for your health.
But, I am promoting this for my friends at iHeartDining.com.
by Anura Guruge
1/ 2014 Commonwealth
> Games. — May 21, 2014.
2/ Rod Stewart & Susan Boyle
> at the Games – July 15, 2014.
3/ 71 nations at 2014 Commonwealth Games
>– July 23, 2014.
++++ Search on ‘commonwealth’ & check Category ‘Sri Lanka’ for many other RELATED posts >>>>
Another great day for the glorious British Commonwealth.
Makes me very happy, very proud and very, very homesick.
I wish I had the money to go back home!
Lots of others too. Check YouTube.
Ringling Brothers and Barnum & Bailey ‘Built To Amaze’ Circus Coming To Manchester, NH, October 2014.
by Anura Guruge
>> ‘Dragons’, Oct. 2013
>> — Oct. 7, 2013.
>> The circus elephants have
>> arrived – Oct. 2, 2013.
>> Oct. 2013 circus/elephants
>> in Manchester –
>> Sep. 29, 2013.
>> Circus will play down
>> elephant parade
>>– Aug. 15, 2013.
>> ‘Dragons’ circus is coming to town — July 6, 2013.
++++ Search ‘circus’, ‘cirque’ & ‘elephants’ for the numerous
>>>> ‘circus in town (with elephants)‘ posts. >>>>>>
Yes, the flyer advertising the local performances arrived yesterday, and I as ever got excited. I, probably even more so than the kids, am a sucker for circuses. Love them. Always loved them. Of course, finances permitting, we will go. We haven’t missed a Barnum & Bailey circus at the Verizon since 2008 (I think). If I do manage to rustle up the finances to get the tickets it would be the second circus of the year for us — we having just gone to the astounding ‘Cirque Du Soleil’ “Varekai” at the ‘Verizon’ In Manchester.
I keep on seeing stories about cruelty to elephants at circuses. That, of course, bothers me inordinately. I am probably even more of an ‘elephant person‘ than I am a ‘dog person‘! I keep on convincing myself that Barnum & Bailey are good to their animals. IF I am wrong then I have been had.
You can get tickets through TicketMaster though I would WARN YOU AGAINST that. Dealing with TicketMaster, in my opinion, is ONLY for confirmed, masochists. IF you really have an urge to buy tickets through TicketMaster this is what I suggest. First go get a fork. Then place your left hand on a hard surface and stab that hand as hard as you can with the fork. Then ask yourself again whether you really want to deal with the criminal TicketMaster. If you still have the urge, keep on stabbing yourself with the fork until you either pass away or that unnatural urge to deal with TicketMaster dissipates.
If I have the money I will, as always, go to the Verizon Arena box office and buy the tickets directly. They are incredibly helpful and I know the seats I want. The tickets will not be available from the Box Office as yet. I will call and find out when.
Malaysian Air MH17, The Innocent Victims, The Montreal/Warsaw Conventions & Disaster Expert, Attorney Paul Monzione.
by Anura Guruge
Some Related Posts:
>> MH17 missing black box pinger
>> — July 21, 2014.
>> MH17 another KAL 007
>> — July 18, 2014.
>> KAL 007 & Iran 655 — July 18, 2014.
>> 2nd aircraft shot down … — July 17, 2014.
>> MH17 transponders — July 17, 2014.
>> MH370 Russia & Ukraine — July 17, 2014.
>> MH17 & MH370 — July 17, 2014.
++++ Search ‘MH370‘ for many, many other posts >>>>
As I have mentioned in a couple of recent posts, Alton resident Paul M. Monzione, whose main office is now in Wolfeboro, N.H., a one time partner of the legendary Melvin Belli, has successfully handled cases to do with KAL 007 (shot down by a Russian fighter), Pan Am Flight 103, Exxon Valdez, MGM Grand Hotel fire etc. etc. Check out his Website for the ‘fancy that’ list of clients he has represented, including Mohammed Ali and Zsa Zsa Gabor and all the other landmark cases he has been involved in. He has even taken the CIA to court!
I got a chance to have a fairly long chat with Paul this morning. As was predictable we got talking about Malaysian Air MH17. Paul knows of my interest in such matters and that I had done a lot of coverage of MH370. Paul, given all of his hands on experience with KAL 007 and Pan Am 103, sees, at least for now, a difference between these cases and the potential settlements for the MH17 victims. The 1999 Montreal Convention (that amended the long-in-the-tooth Warsaw Convention) has a cap of around US $138,000 per airline victim UNLESS negligence can be proved in the case of the crew, the airline or any of the aviation authorities involved with that flight.
In the case of KAL 007 the ‘Inertial Navigation System‘ (a precursor to GPS) had been incorrectly programmed when the flight left Alaska. The pilot when he discovered this was reluctant to admit his fault. So he tried, surreptitiously, to try and correct it by radioing a fellow KAL pilot, on another flight to Korea, and trying to get coordinates that he could use to better determine his flight path. Paul and his team managed to obtain transcripts of these radio communications that proved that the KAL 007 pilot knew that his navigational system was not correctly programmed. That was enough to show negligence.
In the case of Pan Am 103 airlines had received a warning to look out for explosives hidden in a specific make of ‘Boom Box’. Pan Am had been negligent in heeding this warning — which was spot on in terms of the make of ‘Boom Box’.
With MH17 Paul is not sure if such negligence can be established. If it can he knows that he can get the families of the victims a much better settlement than what they currently will get per the Montreal Convention. Ditto for MH370. I think IF you are in anyway involved with the MH17 disaster it would behoove you to have a chat with Paul Monzione. Not too many people with his unique experience when it comes to BOTH KAL 007 and Pan Am 103. You can call Paul at: 603-569-9599. [Don't tell him I told you to call!]