Feeds

Gerstner slams clueless CEOs

Our Net strategy? Sorry mate, you got me there

  • alert
  • submit to reddit

Top three mobile application threats

Lou Gerstner believes the new economy is forcing companies to "act in some very unbusiness-like ways" and that many CEOs have an "air of desperation about them".

The IBM chief says companies are being blinded by "dot-com alchemy" and that some could be on "dangerous ground" if they fail to grasp the fundamentals involved.

This startling -- and somewhat derisory -- assessment of those forging the new economy was contained in an internal memo written by Gerstner and obtained by The Register.

In it he confides how he has spoken to some of the top people in business and how they seemingly have no idea about how to deal with the dotcom revolution.

"I was recently with the highly regarded chief executive of a major US multinational who admitted to me that he has told his executive committee: 'Do something with the Internet -- anything,'" waxed Gerstner.

" The CEO of a well-known Asian company -- call it Acme Inc -- just confided to one of my colleagues that he was thinking of creating an Internet spin-off, Acme.com. When asked what he would put into it and what would remain in the parent company, he had no idea.

"Another CEO -- this one at a large Japanese company -- said recently that he had agreed to sign up with an online exchange because he thought his company would look dumb if it did nothing. But he confessed that he wasn't really sure what he had joined."

With the growing number of dotcom failures piling up, investor volatility and seemingly endless strategies to devise new e-strategies, few can challenge Gerstner's assessment. The fact that he said within earshot, so to speak, might raise a few eyebrows, though.

No one from IBM was prepared to comment. ®

Related link

That Gerstner memo

Top three mobile application threats

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.