Posted on 06/20/2006 1:42:49 PM PDT by Ernest_at_the_Beach
BM (IBM:NYSE - commentary - research - Cramer's Take) will further expand its presence abroad by opening its first development lab in Russia, the company announced Tuesday.
Big Blue will spend $40 million over the next three years for its Russian systems & technology laboratory, which will focus on mainframe technology development. The company will hire up to 200 lab staffers by the end of 2008.
"As a globally integrated company, IBM needs to have the best talent and knowledge in the world, regardless of where it resides," IBM CEO Samuel Palmisano said in a statement.
Palmisano said there is an abundance of skilled programmers and technologists in the country and throughout central and eastern Europe that IBM wants to capitalize on.
"It is worth noting that 50% of university students in Russia are studying science and technology and that Russia has one of the highest levels of researchers in the active population anywhere in the world. We want to tap those skills," Kirill Korniliev, country general manager for IBM East Europe/Asia said in a statement.
The company said the new lab will boost development of IBM's System z technology. Additionally, the move will help the company beef up its presence in the Russian market and add to current customers like the Central Bank of Russian Federation and Russian Railways.
Recently, IBM has been pouring money into offshore operations. Earlier this month, the company said it is tripling its investment in India, and will spend $6 billion in the country over the next three years.
IBM shares rose 52 cents, or 0.7%, to $78.19 in recent trading.
Were they just having tea?
You are against capitalism and free trade? You are not some sort of Bolshevik are you?
The last post on this thread was 12/24/2006. You come on Free Republic a few days ago under yet another name and all of a sudden find this thread? Something is wrong with this picture and with you, Putin supporter. Sounds like a stalker or a troll or both
Still, I find your hating of business to be disturbing - you remind me of the crazy lefties who scream that the Bush family was in bed with the Nazis because the grandfather of Bush had business dealings with Germany (Krupps? I think) and they use that as evidence to smear the name of the Bush family,
I think you could care less about IBM's business dealings though - I think you hate Russia so try and direct the conversation to smear IBM for doing business with them. That's fine - but be honest about it.
Knock it off Gary. Your slanderous antics are not fooling anyone.
Is that the term you anti-business hippies use for us? LIke on Star Trek when those space hippies called Kirk a 'Herbert'.
Ease up on the space weed.
We thought you secured a permanent position with Vlad, but it looks like you slithered onto another Kansas computer in order to worm your way back on FR after being booted.
I am not from Kansas - the manure smell would bother me like the manure you shovel against IBM.
So what is your beef with IBM? You chose politics over free commerce?
Listen, kegebuchaya svoloch', who on earth are you to teach me about communism and "Red lovers"? I have seen them up close and in all flavors. Communism has nothing to do with economics, unless you are a marxist. It is pure, 200% sociology, i.e. way of life, human behavior, and not the red banners.
In any case - what is your problem with IBM doing business with whom it pleases? You gonna have big daddy govt step in?
My sociology is non-marxist, and is anti-marxist. marxism is about the primacy of economics, and I hold the primacy of sociology. That's why I consider your statement about "capitalism" in either china or russia as utter nonsense.
Yet here you are upset that IBM is not restricted in doing business.
There are the types with whom business should not be done. When a partner of mine was thinking of locating the production on my patent in china, I told him to shove his china where the light does not shine, and to keep it there. For those who are not capable to see beyond their nose, some restrictions [like requirement for eyeglasses on the driver's license] are in order. Such drivers are dangerous not only to themselves [screw them, would serve them right], but to the others on the road as well.
So you blame Ford Motors for Bonnie & Clyde?
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