By now, much of corporate America is hunkered down in economic uncertainty. Not IBM.
In a spirited message in the annual report sent to shareholders on Monday, I.B.M.’s chief executive, writes:
“We entered this turbulent period strong, and we expect to exit it stronger. We will simply not ride out the storm. Rather, we will take a long-term view, and go on offense.”
Mr. Palmisano struck a similar tone when the company reported its strong quarterly results in late January.
In his lengthy “letter from the chairman,” Palmisano presents a detailed case for I.B.M.’s comparative optimism. It centers in good part on the assumption that countries — and large corporations — around the world are going to make investments in so-called smart infrastructure projects in transportation, electrical grids, health care information technology, telecommunications, food distribution and water systems. (Read full article in New York Times)