Letter: I’ve Been Misinformed (1993)

Letter to the Editors from the October 1993 issue of the Socialist Standard

Dear Editors.

I read with interest Steve Coleman's article "Farewell to the Middle Class" in the September issue as 1 used to work for IBM as a contractor some years ago. It was pitiful to see how brainwashed its employees were; so much in fact they all believed that the corporation would keep them all employed for life. I remember colleagues almost boastfully stating that union membership was totally unnecessary when employed by such a kind and caring company as IBM.

Now that thousands of its workforce worldwide have been, or still are, facing redundancy, I’ve no doubt that those same, smug people can now be seen with egg slowly dribbling down their faces. This corporation is a past-master at hiding its tyranny behind a smile.

While insecurity and uncertainty dog its workforce (and I’ve no doubt the plight of those sorry characters in Steve's article w'ill be repeated many times over), it is interesting to note that earlier this year, the IBM corporation employed a new chairman. Lou Gerstner Jr., previously of Nabisco has been engaged on a salary of S2 million plus annual performance-related incentives of of $1.5 million. Included in this neat little package was also the offer of 500.000 IBM shares and a further, long-term inducement of $500,000. Oh! I almost forgot. As a "sweetener" for leaving Nabisco, he also received a further $5,000,000 to cover any of the profits he may have lost by leaving Nabisco.

Sounds incredible, eh. Not least of all to the employees I don’t wonder. Perhaps it would be more fitting if IBM stood for I’ve Been Misinformed.

Simon Montfalcon,

Romsey, Hampshire