Although a small piece of the pie, it is the part of the pie ordinary Americans have most tangible contact with.
I mean, the word 'IBM' rings a picture of a PC first in anyone's mind, and to sell away that picture, in my opinion, is the beginning of the end for IBM.
I hope so, I'm sickened by all the US corporations shacking up with the communist Chinese government. But this one seems to take the cake.
http://www.freerepublic.com/focus/f-news/1300424/posts
IBM sought a China partnership, not just a sale
In July 2003, Sam Palmisano, the chief executive of IBM, traveled to Beijing to explore the sale of the company's personal computer business. But he did not start by making the usual visit with executives of IBM's preferred partner, Lenovo, China's largest personal computer maker. Instead, Palmisano first engaged in a bit of old-fashioned courtship. Before formally approaching Lenovo, he sought permission from the parents, by meeting privately with a senior Chinese government official in charge of economic and technology policy.
IBM was not merely looking to sell its PC business, Palmisano told the official, but had bigger aspirations of creating a global enterprise, with IBM contributing technology, management, marketing and distribution.
The idea, Palmisano explained, would be to build a modern and truly international Chinese-owned corporation. The move, he added, would demonstrate China's desire to take that next step toward economic maturity by investing abroad instead of merely serving as a manufacturing hub for the rest of the world.
There were other interested bidders, including one from an American buyout firm whose offer remained on the table until the end. And the Lenovo deal could have fallen apart. But apparently the Chinese option was the only one seriously pursued by IBM.
As I stated at the end of my post, I do not think this sale is a good thing in that it helps the ChiComms. This is something I oppose in principle.
Anyone over 40, perhaps. Ask the average teenager about 'IBM' and you will probably get a blank stare.