International Business Machines IBM
About the major U.S. business International Business Machines IBM. information about its history, location, size, and boss.
INTERNATIONAL BUSINESS MACHINES (I B M)
Location--The company's headquarters are on Old Orchard Road in Armonk, N.Y. 10504, and its plants and laboratories are concentrated in the upstate New York cities of East Fishkill, Endicott, Kingston, Mohansic, Oswego, Poughkeepsie, and Rochester.
How Created--Charles R. Flint incorporated IBM's predecessor, the Computing-Tabulating-Recording Company, on June 16, 1911. C-T-R acquired the International Business Machines Corporation, on February 14, 1924, and assumed the name of that company. In July, 1933, IBM bought Electronic Typewriters, Inc., and 2 years later produced its 1st electric typewriter. The company established the IBM World Trade Corporation on January 1, 1950, to manage the firm's foreign business. On February 28, 1964, IBM acquired Science Research Associates, Inc., a producer of educational and testing materials.
Size--IBM markets its products in over 100 countries. The company's plants and laboratories in the U.S. cover 27.8 million sq. ft. in 25 cities, 9 of which are in New York State. Overseas, the company's manufacturing and development facilities take up 11.5 million sq. ft., including 23 manufacturing plants in Argentina, Brazil, Canada, Colombia, France, India, Italy, Japan, Mexico, The Netherlands, Sweden, the United Kingdom, and West Germany.
Population--274,108 employees. Around 94% of the domestic professional employees and 96% of the managers are white. Men have 92% of the professional jobs.
Who Rules--IBM's day-to-day major policy decisions are made by a 3-man corporate office which is elected by a 24-member board of directors. The directors are elected by 574,887 stockholders owning 146,712,688 shares.
Who REALLY Rules--IBM is so large that it is hard to tell whether the company rules, or is ruled by, the bankers, ex-government officials, and leaders of financial institutions who sit on its board of directors. The banks control large blocks of stock, and the board includes 8 directors of 5 of the 6 largest New York banks. In 1974 the board of directors also included a former U.S. Attorney General, a former Undersecretary of State, a former Deputy Secretary of Defense, a former Secretary of the Air Force, a former governor of Pennsylvania, a former chairman of the New York Stock Exchange, a former chairman of the Federal Reserve Board, and a current member of the Federal Reserve Bank of Boston.
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