New I.B.M. Chief Says Focus Is on Gains in Productivity

NY Times: In his first meeting with Wall Street analysts since becoming chief executive of International Business Machines, Samuel J. Palmisano declared yesterday that the company would emerge from the downturn in the computer industry stronger than ever. But he also confirmed that I.B.M. would be cutting its work force by thousands to tighten its belt during the current slump. (full story)