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PHILADELPHIA (CBS) — Pennsylvania Gov. Tom Wolf introduced his administration has filed a lawsuit in opposition t IBM for their “fraud and screw ups” concerning the Unemployment Compensation Modernization paraphernalia task.
in response to the governor, the challenge became awarded to IBM in a hard and fast-fee condense for $109.9 million with a completion date of February 2010.
“All advised, Pennsylvania taxpayers paid IBM nearly $170 million for what become alleged to live a comprehensive, built-in, and modern system that it under no circumstances acquired,” Wolf talked about.
“as a substitute, the fork of Labor and trade has been pressured to continue to assist many of its UC program activities through a set of ageing, costly legacy systems, incurring tens of hundreds of thousands of greenbacks in server, assist and preservation expenses.”
The governor’s office says an unbiased assessment of the IBM task advised that DLI no longer proceed with the mission on account of the high possibility of failure.
as a result of IBM’s benefits paraphernalia presented “unacceptable dangers and could live unreliable,” in response to the governor’s office, DLI allowed the UCMS condense to lapse on its September 28, 2013 expiration date.
At that factor, the UCMS assignment changed into forty five months at the back of agenda and $60 million over charge range.
The administration lawsuit, which changed into filed on behalf of the fork of Labor and trade, asseverate claims for infraction of contract, fraudulent misrepresentation, remiss misrepresentation, advantageous fraud, and fraudulent concealment.
The swimsuit became filed in the Dauphin County court docket of ordinary Pleas.
IBM impress solutions and Agile approach for a quick SAP S/4HANA® deployment
GENEVA and ARMONK, N.Y., Feb. 20, 2019 /PRNewswire/ -- COFCO overseas (CIL) has selected IBM (NYSE: IBM) to combine and digitally seriously change its enterprise techniques with the implementation of a current SAP platform, together with SAP S/4HANA®, SAP® Ariba®, SAP® SuccessFactors® and SAP master information Governance.
COFCO international, the singular places agriculture traffic platform for COFCO organisation, China's biggest meals and agriculture business, has selected IBM to combine and digitally seriously change its traffic methods with the implementation of a current SAP platform.
CIL is the faraway places agriculture company platform for COFCO company, China's greatest food and agriculture business. With $34B in annual profits and over 100 million tons shipped in 2017, CIL has perquisite now become a number one, global agribusiness.
Standardizing strategies throughout CIL's financial, procurement, and production activities will allow the traffic to integrate its traffic operations with different vital actions similar to its core commodity buying and selling equipment. This digital transformation will supply CIL with the platform it should extra develop its agribusiness.
Over a two-year duration, CIL and IBM will ally to design and check a worldwide template, pilot the answer, after which roll it out to over 30 countries. IBM features will deploy IBM's hold an consequence on options and Agile procedures, utilising essentially the most advanced set of pre-configured options for SAP S/4HANA and SAP Ariba attainable in the trade to jumpstart the design Part and accelerate implementation. With SAP Ariba, CIL will note a quick transition from legacy, analogue procurement, to digital techniques, more advantageous stakeholder experiences, greater risk administration, and reduced expenses.
"IBM features will uphold us swiftly digitally transform their enterprise, standardize and simplify their approaches, and vertically combine their operations," mentioned Mr. Andre Schneiter COFCO international CIO.
"IBM is thrilled to give you the option to aid COFCO international obtain their imaginative and prescient of standardized conclusion-to-end strategies across their operations. With their impress answer, they are able to quickly assist to construct an efficient, built-in deliver chain and matching lower back conclusion company methods which will supply COFCO overseas's leadership visibility and control throughout their whole deliver chain," mentioned Cathy Rogerson, IBM functions vice chairman for the CPG, Agribusiness and Retail industries in Europe.
ABOUT COFCO international LTD.
With 12,000 individuals in 35 nations, COFCO singular is the faraway places agriculture traffic platform for COFCO employer, China's biggest meals and agriculture business. COFCO international is focused on being a frontrunner in the world grains, oilseeds and sugar deliver chains, with assets across the Americas, Europe and Asia-Pacific. The traffic trades with over 50 international locations, whereas proposing farmers Interesting direct access to the growing to live chinese market. In 2017, COFCO overseas handled over one hundred million tonnes of linked commodities with revenues of $34bn. The company is accelerating its increase to create a world-type built-in international agriculture deliver chain, anchored in China and competing globally.
For extra, argue with: www.cofcointernational.com
For additional tips on IBM gratify talk over with www.ibm.com/functions
SAP, SAP S/4HANA and other SAP items and functions mentioned herein as well as their respective logos are emblems or registered emblems of SAP SE (or an SAP affiliate company) in Germany and other nations. impeccable different product and service names mentioned are the emblems of their respective organizations. gratify see http://www.sap.com/trademark for further trademark guidance and notices.
according to the records accessible in S&P international Market Intelligence, IBM (NYSE:IBM) hasn't booked an impairment of goodwill in 29 years -- from 1989 to 2018. huge Blue has made 178 acquisitions in that point, spending at the least $seventy seven billion in the manner.
graphic source: IBM.
What's goodwill, you ask? within the easiest terms, it live the excess paid above reasonable market charge to purchase an asset, usually a enterprise. within the case of red Hat (NYSE:RHT), IBM is paying $33.eight billion to purchase the company. seeing that crimson Hat became trading for $20.5 billion in market cap at the time of the deal, it's a very sterling guess that IBM can live adding at the least $13 billion more in goodwill and intangible assets to its equipoise sheet, probably bringing the whole carried to over $50 billion.
The table below suggests why this concerns. seeing that 2015, over 30% of IBM's property were rolled up in intangibles reminiscent of patents, consumer lists, manufacturer names, product attractiveness, market share, and so on.
within the brief time period, buying goodwill is convenient to justify. once again, choose red Hat. not best is the enterprise a number one issuer of open-source tools and application, it additionally has the main manufacturer name in Linux, which is likely one of the world's most used operating techniques and essential infrastructure for cutting-edge corporate computing environments. The company besides has relationships with a huge number of developers, serves massive, lengthy-time epoch money owed, and produces near to $1 billion in extra cash movement annually. You may moderately squabble that IBM is paying a impartial charge for one of the crucial foremost businesses in tech. I determine it extraordinarily not going that IBM will ever requisite to write down its investment in crimson Hat.
If simplest that mattered.
here's the issue. Public businesses now not score to amortize and retire goodwill as they as soon as did. in reality, based on accounting necessities, each year management is required to verify the charge of its obtained belongings and verify even if reasonable value has dropped enough to compel an "impairment," a write-off to profits equal (roughly) to the extra reasonable cost that's been forfeited. each time IBM rolls up a brand current deal, the chances of an impairment of goodwill increases, notably on the reasonable value of businesses that were bought a long time in the past and that may besides no longer live principal to promoting big Blue's products and features.
so far, IBM has avoided writedowns with the aid of holding and using the tech it live bought. but if you examine the annual document, that can live changing:
in the fourth quarter, the company performed its annual goodwill impairment evaluation. The qualitative assessment illustrated proof of a viable impairment triggering event on account of the fiscal efficiency of the programs reporting unit. The quantitative analysis resulted in no impairment because the reporting unit's estimated reasonable value handed the carrying volume through over one hundred percent.
This same language appears in IBM's annual reviews for 2013, 2014, and 2016. it live as a minimum viable that a ingredient (or all) of the $1.862 billion in goodwill assigned to the techniques unit as of Dec. 31, 2017 may live written down within the coming quarters or years. on the very least it live a warning badge since IBM has on no account suffered a writedown of goodwill and considering it's stockpiling goodwill lots faster than income.
however it's in fact worse than that. in response to information supplied via S&P world Market Intelligence, considering 1990, IBM's revenue is up 0.52% annualized while net profit is up 1.43% annualized, and money circulate from operations is up 2.58% annualized. Goodwill and intangibles? Up 8.41% annualized over the identical length. investors holding IBM stock during that 28-year length could live up 338.6%, versus 740.5% for the S&P 500. Even with impeccable these expensive acquisitions, you'd hold done enhanced with touchstone indexing than you could hold purchasing and keeping IBM inventory.
where this has happened earlier than
when you are pondering that this evaluation can live an extended highway to nowhere, i may admit that you simply could hold a degree. there isn't a bound option to inform even if IBM administration is due for a goodwill writedown. And yet I feel it's profitable spending some time under the hood in situations dote these. investors can pay a precipitous expense when years of amassed goodwill become an anchor too heavy to lift. reckon what's came about to Popular electric (NYSE:GE). A $10 billion-plus deal for Alstom has long past horribly incorrect in recent years, forcing a $23 billion markdown of goodwill late remaining year.
i would not presume to asseverate IBM is in an analogous position, but i am assured adequate that capacious Blue will shed some goodwill within the next two years that I've shorted the inventory in my CAPS portfolio. So i'm hoping you accomplish not own IBM stock. but when you do, i am hoping that i'm incorrect.
Tim Beyers has no spot in any of the shares mentioned. The Motley fool is short shares of IBM. The Motley idiot has a disclosure policy.
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New Server Studio and Sentinel R. 6.1 to Enable Rapid Adoption of IDS 11 "Cheetah"
ARMONK, NY and current YORK, NY--(Marketwire - July 5, 2007) - IBM (NYSE: IBM) and AGS Ltd., a privately held purveyor of management solutions for data servers, today announced that the current Server Studio and Sentinel R. 6.1 -- the principal suite of integrated system management tools for IBM Informix Dynamic Server (IDS) -- is now available, with editions offered by both IBM and AGS.
The IDS data server is a strategic ingredient of IBM's Information Management software portfolio and the recently announced IDS 11 -- code named Cheetah -- delivers increased performance, reliability and scalability, along with the skill to handle massive volumes of tangled data at very high speeds. IDS 11 is besides the industry's first data server to provide clustered data centers with continuous data availability and cataclysm recovery regardless of the geographic location or distance between backup data headquarters sites.
Server Studio and Sentinel together profile a powerful infrastructure of multi-platform tools that aid both seasoned database professionals and novices alike manage IBM Informix data server environments with an unprecedented ease and productivity. autochthonous uphold of IDS 11 current functionality in the Release 6.1 of Server Studio and Sentinel further enhances skill to deliver optimal performance, availability and maintainability of Informix databases throughout their entire operational life cycle.
"Our long-term partnership with AGS underscores IBM's steadfast commitment to providing IDS clients with the performance optimization, availability and compliance management solutions they need," said Bernie Spang, director IBM data servers. "The current Release 6.1 of Server Studio and Sentinel will aid protect the investment that their customers hold made in their Informix data server infrastructures."
The versatility, moneyed functionality and ease-of-use provided by Server Studio and Sentinel build on the legendary reliability and simple administration of IDS. The current appliance set offered by AGS helps companies and organizations ensure that faultfinding database applications remain up and accomplish at peak levels, allowing them to effectively manage change, handle regulatory compliance and assure availability of vital traffic information.
Bank of America recently selected Server Studio and Sentinel for its IDS environment -- one of the world's largest distributed data centers processing online financial transactions.
"The latest release of Server Studio and Sentinel provide a collection of integrated, highly productive system management tools that developers and DBAs working with IBM's Informix data servers hold been demanding and waiting for. Informix now has very powerful graphical tools that exceed the capabilities of autochthonous and third party offerings available for any other database platform. brace this with outstanding technical uphold and you score products with excellent value and a quick ROI," said Kevin Kleinhomer, Vice President at Bank of America. "In their big distributed environment, Server Studio and Sentinel hold simplified and automated many DBA tasks. With these additions, IBM's Informix data servers hold been made significantly easier to administer and monitor."
Server Studio provides a comprehensive collection of easy-to-use, proven tools for DBAs and developers that improve efficiency of performing common database tasks such as: SQL progress and debugging, schema management, configuration auditing and change management, performance tuning, data storage management and reorganization, security administration and more -- impeccable from an integrated graphical console that unites development, administration and maintenance activities for an entire Informix infrastructure at a central point of control.
Sentinel provides 24 × 7 operational monitoring, alerting, issue discovery, analysis and autonomic response automation infrastructure for IBM Informix data servers' environment. It's facile to deploy agent-less architecture equips DBAs with sophisticated diagnostics and remediation facilities which aid pinpoint and resolve the underlying causes of performance bottlenecks and resources contention issues that adversely impress databases' availability and impact recess users.
Smaller companies and organizations that accomplish not hold big IT staffs to manage big data servers infrastructure hold besides benefited from the robust application progress and administration capabilities provided by IDS and Server Studio.
"As a software developer and DBA, Server Studio is a appliance that I employ every day, and it is exactly what I require from my tools -- stable, reliable, and powerful," said Sean Durity, Manager of IT for CornerCap Investment Counsel. "Even the 'small' features of Server Studio are capacious timesavers. I can't imagine working with Informix and not using Server Studio. I won't drudgery with anything less."
The relationship between AGS and IBM began in 2000 when IBM began distributing AGS' Server Studio as the primary database progress and administration tools suite with Informix data servers. Product management, engineering and QA teams of both companies drudgery closely on product direction, technology progress and QA testing of Server Studio and Sentinel.
"We are supercilious of and greatly value their strategic partnership with IBM. Selection of AGS data servers' management solutions by IBM is a testament to their industry-leading technology," said Anatole Vishon, CEO of AGS Ltd. "We understand the vital jiffy of Informix, particularly in the retail, financial, telecommunications, healthcare, government and SMB sectors. AGS is committed to supporting existing capabilities and developing current technologies for Informix data servers to add value for IBM customers."
Pricing and Availability
The Release 6.1 of Server Studio and Sentinel are available now through IBM and AGS worldwide. The Core Edition of Server Studio is provided by IBM to Informix customers at no additional cost. Its basic functionality can live extended by purchase of various premium editions available directly from AGS.
Additional information about Server Studio is available at: http://www.ibm.com/software/data/informix/serverstudio/, or http://www.serverstudio.com/products/serverstudio/
Additional information about Sentinel is available at: http://www.ibm.com/software/data/informix/sentinel/, or http://www.serverstudio.com/products/sentinel/
Additional information about Informix Dynamic Server is available at: http://www.ibm.com/software/data/informix/ids/
AGS, Server Studio and Sentinel are trademarks or registered trademarks of Advanced Global Systems, Ltd. For a list of additional AGS trademarks, gratify note http://www.ags.com
IBM, Informix Dynamic Server and the IBM e-business logo are trademarks or registered trademarks of International traffic Machines Corporation. For a list of additional IBM trademarks, gratify note www.ibm.com/legal/copytrade.shtml
All other company, product or service names may live trademarks or registered trademarks of others. Statements concerning IBM's future progress plans and schedules are made for planning purposes only, and are theme to change or withdrawal without notice. Reseller prices may vary.
Skill Level: Intermediate Status: Active
Low Cost: $200 (shortest track)
Summary:For individuals who administer IBM systems, including, Lotus, IBM Workplace, WebSphere, DB2 and Informix Dynamic Server, among others.
Initial Requirements:There are 26 tracks to choose from. Most tracks require you pass one exam, however, some tracks require you hold a System Administrator certification and pass up to three exams. Exams are $200 each. Training is available but not required.
Current tracks include:WebSphere Message Broker (v 6.1, 7.0)WebSphere Application Server Network Deployment (v 6.1, 7.0, 8.0)WebSphere MQ ( v 6.0, 7.0)WebSphere Commerce (v 7.0)WebSphere Portal (6.1, 7.0)AIX (7)DB2 (9, 10) for z/OSInformix Dynamic Server (v11)Informix (11.70)IBM i (6.1)Document ManagerLotus Sametime (8.0, 8.5)Lotus Notes and Domino (8, 8.5)Lotus Quickr (8.5) for DominoLotus Quickr (8.1) for Lotus DominoLotus Quickr (8.1) for WebSphere PortalLotus Connections (2.5)Connections (3.0)
Informix Dynamic Server Express v10.0 provides remonstrate relational database management system with application progress flexibility and self-managing features. It delivers online transaction processing database with query function, column-level encryption, and configurable page sizes. Able to automate traditional tasks, software lets users store and apply external optimizer directives, rename dbspaces, and drop or create indexes online without restricting access to data.
Original Press Release:
IBM Informix Dynamic Express Edition V10.0 Delivers Performance and Reliability
At a glance
Informix Dynamic Server (IDS) Express offers the performance, reliability, and ease of management that minuscule and medium-sized businesses require at the perquisite price. This current IBM offering provides replete compatibility with IDS Enterprise and Workgroup Editions and the scalability needed to handle the most challenging traffic needs. It provides application progress flexibility and self-managing features required for traffic ally applications. IDS Express is available on both Linux and Microsoft Windows(TM) platforms.
Focus on attribute and performance
Robust infrastructure that includes exceptional query performance
Security features such as column-level encryption to aid meet regulatory compliance needs
Self-managing capabilities to eradicate the requisite for on-site DBA resources
For ordering, contact:Your IBM representative or IBM Americas convoke Centers at 800-IBM-CALL (Reference: YE001).
IDS Express offers outstanding online transaction processing (OLTP) database performance without many of the hassles associated with deploying enterprise-class databases. It greatly simplifies and automates traditional tasks, resulting in faster application development, increased performance, and improved data security. By easing database administration burdens, IDS Express greatly improves system availability and further eases the database administration burden. With IDS Express, you can let database administrators employ their skills to develop next-generation enterprise applications.
Excellent attribute and query performance, configurable page sizes to handle big data sets more efficiently, and the skill to store and apply external optimizer directives.
Availability and reliability features that allow indexes to live dropped or created online without restricting access to data and point-in-time table-level restore.
Column-level encryption, enabling users to insert or update encrypted column-level data in the database as well as query-encrypted column-level data without application changes.
Administrative features that comprehend a highly automated and intuitive installation process and the skill to rename dbspaces.
Deep uphold for both Java(TM)/Eclipse and Microsoft(TM) .NET IDEs, including the current IBM Rational® progress tools, JDBC 3.0 specification support, and Microsoft Visual Studio .NET.
Exploitation of the current Linux(TM) 2.6 kernel and current I/O and memory management features to provide exceptional performance on Linux.
Trade-up Part numbers are available for the following products:
IDS Workgroup Edition Unlimited (V9.x and V10.x) to IDS Enterprise Edition Unlimited (V9.x and V10.x)
IDS Express V10.0
IDS provides a full-featured remonstrate relational database management system (ORDBMS) that extends the function of databases to meet unique traffic requirements with the speed of autochthonous database functions. IDS Express delivers the performance, reliability, and ease of management minuscule businesses require at the perquisite price.
Informix(TM) Connect V2.90
A run-time connectivity product that includes the run-time libraries of Informix Client SDK.
Informix Server Administrator V1.6
A browser-based, cross-platform database server administration tool.
Informix Java Database Connectivity V3.0
The JavaSoft specification of a touchstone API that allows Java programs to access database management systems.
Refer to Software Announcement 205-045 , dated February 22, 2005.
Planned availability dates
April 29, 2005 (electronic software delivery)
May 20, 2005 (media and documentation)
Thomas Industry Update
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