Big Blue To Cut Jobs, Tesla To Cut Costs

Add IBM to the ranks of US tech behemoths cutting jobs. The company will give nearly 4,000 people the big blues in the near future, CFO James Kavanaugh indicated on Wednesday, when IBM said it expects to top analyst forecasts for revenue and free cash flow in 2023. CEO Arvind Krishna called IBM's Q4 results "solid." The company, like Microsoft, Google and Facebook, is excited about cloud and AI. Hybrid cloud revenue rose 17% in constant currency terms last quarter, while overall revenue was fl

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7 thoughts on “Big Blue To Cut Jobs, Tesla To Cut Costs

  1. TSLA 1.8MM 2023 unit guidance is about 37%, not 50%, and is pretty short of consensus 1.9MM.

    Add LRCX to the RIFers, a 7% cut announced, big guid miss, sees semicap industry down in 2023.

    1. Your comments aren’t being “deleted.” The way the system works is that you have to have at least one comment approved before your subsequent comments are automatically posted. That’s a bot-deterrent.

      The first comment you ever tried to post on the site (earlier this month) was an announcement that you didn’t intend to renew your subscription because you were displeased with my coverage of Elon Musk. Specifically, you said that there was “No mention anywhere of energy, batteries [or] real factories pumping out revenue more than any other carmaker.” Instead, you noted, I was discussing “Twitter, Covid [and] politics” which, in your judgement, meant that I was “all over the place.”

      Here’s the thing, though: This site is avowedly about politics as well as macroeconomics and markets. It says so right there in the “About Us” page, and you’d also know it from the fact that virtually every other article includes references to politics both domestic and foreign, and from the fact that one of the main menu items at the top of the page says “Politics.”

      In other words: Part of this site is dedicated to political coverage. Elon Musk is now in the habit of opining on politics (both domestic and foreign) via Twitter, a company he recently bought (on the off chance you didn’t notice). As such, there’s nothing “all over the place” about my coverage of Musk. Rather, it’s Musk who, in my opinion, is “all over the place.” I’m not the only one who thinks so.

      The reason your original comment (the first one you ever tried to post) never made it to the comments section was because it didn’t add anything to the discussion, in my judgement. Because that comment was never posted, your subsequent comments weren’t automatically cleared (because, as noted above, you have to have one comment manually approved before subsequent comments will post automatically). There’s no conspiracy here, it’s the way the system works. That should clear up your overarching question(s) about comments.

      As to your apparent affinity for Tesla, I wish you the best in that regard. Sincerely I do. But, you should be apprised that as long as Musk continues to make controversial political statements on Twitter, he’s going to invite criticism of those statements. It’s not anyone else’s fault that he’s become a political commentator. Nobody is forcing him to tweet about Ukraine, for example, or about Dr. Fauci. He’s doing that of his own accord. Maybe, instead, anytime he thinks about tweeting cartoon memes, he should tweet about “energy, batteries [or] real factories pumping out revenue more than any other carmaker,” as you put it.

      When Musk puts himself out there like that (on a political limb) as the CEO of a publicly traded company, he should expect pushback. And I’m sure he does. Musk is more than Tesla. He’s now a political personality of sorts, and the owner of a social media platform.

      So, that’s how I will continue to cover him in these pages. If you don’t like that, then you know where the door is. In fact, as you indicated in your would-be inaugural comment, you already walked through it.

      I think that about covers it. But be sure to let me know if I missed anything.

  2. The main reason I read what is posted on this site, and the comments of those who also read what is here is that this site isn’t Facebook, or some other silly place people go to see pictures of other peoples’ food or some such. This is a space where smart people, many with professional experience in the topics at hand write for other smart people to read, and in my case learn things that even my long personal experience didn’t teach me. My initial doctoral education in Finance came before there was a NASDAQ, a public options market (all this business was conducted between market makers), personal computers, electronic calculators, spreadsheets and other fun stuff. There were no easily accessible data bases, no Internet (imagine). Without access to H’s stable of top market interpreters and his synthesis of their views, I would not be able to deal with today’s investment environment in any useful way. My handle says it all, I was lucky I could ride the 40 year bond bull like a rocket which gave me the ability to live as I wish today. Luck won’t cut it any longer so I need what I see here to process today’s reality. Still lucky to have this site.

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