Morning Coffee Oct 26 2011

Meet Tech's Top Woman

By joseph walker

New Captain (The Economist)

Newly appointed IBM Chief Executive and President Virginia M. Rometty is now the most powerful woman in technology, responsible for annual revenues of $100 billion and a market capitalization of $210 billion, second only to Apple in the tech sector, the Economist notes.

Known as "Ginni" to colleagues and friends, Rometty, 53, will take the reins from current Chief Executive Samuel J. Palmisano, 60, in the beginning of 2012, the company announced yesterday. Palmisano will remain as the company's chairman. He leaves the company with an employee approval rate of 57%, according to Glassdoor.

Rometty's main job will to keep the course steady at IBM, which thrived under Palmisano's leadership even as he sold the company's PC unit, its most high-profile business at the time. Rometty says she will not alter IBM's strategy or financial roadmap any time soon, WSJ reports.

Rometty, a 30-year veteran at the company, joined IBM in 1981 as a systems engineer and is currently senior vice president and group executive of sales, marketing and strategy. Previously, she served as senior vice president for global business services at IBM, and led the integration of PricewaterhouseCoopers Consulting after it was acquired by IBM for $3.5 billion in 2002. She impressed analysts by charming PwC consultants into staying with the company after acquisition, the Times reports. Many feared they would lose their freewheeling culture under IBM leadership, which was considered highly structured and conservative.

Rometty becomes IBM's first female CEO and just the 16th woman to lead a Fortune 500 company, Other top female bosses include current Archer Daniels Midland's boss Patricia Woertz and PepsiCo's Indra Nooyi. Rometty will be the ninth CEO in IBM's 100-year history.

The Problem at Microsoft (Bloomberg)

A tech analyst says Microsoft needs to seek out creative, artistic types to make it a leader in innovation again. The company relies too much on left-brained people like Bill Gates and Steve Ballmer, the analyst says.

Blame Tech (Reuters)

Technology companies are keeping billions of dollars in overseas accounts, refusing to bring the money into the U.S. economy unless they get a tax holiday. That money could create a lot of jobs in the U.S., writes a Reuters columnist.

NYC Start-up Hiring 20 (FINS)

Email advertising start-up LiveIntent will hire 20 employees during the next year after raising $8 million. It's a quirky, but serious work environment. Don't even think about bringing your dog to the office.

How to Network Effectively (FINS)

Career networking is a delicate balance: you have to sell yourself and meet new people without seeming pushy or desperate. The key is to keep your story simple, don't whine, and listen more than you talk. Click for more help on the nuances of getting ahead.

Surprise Drop (WSJ)

Amazon yesterday announced third quarter profits dropped 73% to $63 million. It's the price of investing on data infrastructure, shipping centers and development of the Kindle Fire tablet.

Apple TV (Globe and Mail)

Could Apple become the innovation leader in television? Steve Jobs told his biographer that he had "finally cracked" the problem of integrating TV sets with online and digital entertainment.

Arizona Jobs (Phoenix Business Journal)

Renewable fuel company Clear Energy Systems Inc. will build a $10 million high-tech manufacturing plant and hire about 225 people over the next few years.

Netflix Woes Continue (WSJ)

Analysts are questioning Netflix's business strategy, including its aggressive push for overseas customers. The company's stock price slide continued yesterday, with shares plummeting 35%, the biggest percentage drop in the company's history.

Another One Down (WSJ)

Veteran Olympus executive and chairman Tsuyoshi Kikukawa has resigned from the Japanese camera and endoscope maker. Just two weeks ago, Chief Executive Michael Woodford left the company amid questions about hefty fees paid to mysterious entities after acquisitions.

Buzz Around the Office

Broke Monopoly (The Daily What)

Banksy's contribution to Occupy London.

List of the Day: Managing the Year of Diminished Career Expectations

1. Help a coworker out

2. Teach yourself one new skill a month

3. Start blogging

(Source: Glassdoor.com)



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