WRONG WRONG WRONG! This is all about $20 EPS. Nothing more, nothing less. You can blame Obama for a lot of things, but this ain't one of them. Sending jobs to China, Mexico, India? $20EPS, - Cut pension? $20 EPS, - No raises or bonuses for working stiffs? $20 EPS - Layoffs? $20 EPS. It is a goal with no realistic road map other than cut cut cut. When the revenue increases, then come and see me about Obama, until then it is just the march to $20 EPS.
No, you can thank the executives (and the B.O.D.) at IBM who have made it perfectly clear that the march to $20 EPS by 2015 will NOT be interrupted, and if the employees have to shed benefits (and jobs, sadly) to do it, then so be it.
Again, share price FAR outweighs employee morale. It's a short term recipe for success. Long term, it's dangerous