CONTACTS 
0201 - IBM Global Financing
020101 - Mr. Ross H. Armstrong
020102 - Business Unit Executive
020104 - Commercial & Vendor Financing, Americas

SUBJECTS
Financial Crisis IBM Global Financing Weathering Storm Stu High Scho

0703 -
0703 -    ..
0704 - Summary/Objective
0705 -
070501 - Follow up ref SDS 24 0000. ref SDS 20 0000.
070502 -
070503 -
070504 -
070505 -
070506 -
070507 -
070509 -  ..
0706 -
0707 -
0708 - Progress
0709 -
070901 - Subitted ref DIT 1 0001 to Ross following up an earlier letter to
070902 - Ross, ref DIP 6 0001 on 080712, ref SDS 24 PF6I, which responded to
070903 - his letter dated 080617, ref DRP 7 0001, received a day later on
070904 - 080618, ref SDS 20 PF6I, and responding to the letter a few days
070905 - earlier sent on 080616 to the family. ref SDS 18 EV7I  Ross's letter
070906 - received on 080618 followed up prior correspendence on 061015.
070907 - ref SDS 9 JQ7K
070909 -  ..
070910 - The letter to Ross says...
070911 -
070912 -    1.  How are things going?  You have a marathon coming up [cited in
070913 -        Ross' letter received on 080618, ref SDS 20 Q86R], and Stu is
070914 -        back in football [Ross' letter received on 061015 reported he
070915 -        was "moving the chains" for Stu's high school football games,
070916 -        ref SDS 9 JI9L], Hutch is in medical school.
070918 -         ..
070919 -    2.  Is IBM Credit ["moving the chains"] weathering the storm of
070920 -        financial crisis [see the letter to Ross on 080712, ref SDS 24
070921 -        A55P]? ref DIT 1 0001
070923 -  ..
070924 - On 060809 Ross mentioned enjoying the world of high finance.
070925 - ref SDS 8 GQ6Q  On 061015 letter to Ross correlated "moving the
070926 - chains" to applying good management practice for better productivity
070927 - in every field. ref SDS 9 JI9L
070929 -  ..
070930 - Letter to Ross continues...
070931 -
070932 -    3.  The Enron collapse on 020204 was the "canary in the mine"
070933 -        presaging systemic failure to perform good management.
070934 -        ref SDS 3 ST5G, and simply ignored accounting requirements, for
070935 -        placing stockholders' money at risk. ref SDS 3 P49F  Enron bet
070936 -        on bad management and collapsed into bankruptcy, because high
070937 -        profile and venerable accounting auditors, Arthur Anderson,
070938 -        refused to apply laws and regulations that mandate accurate
070939 -        accounting. ref SDS 3 WC5H, ref DIT 1 NJ6G
070941 -         ..
070942 -    4.  It seemed pretty evident a correction was coming during
070943 -        testimony before Congress on 030826 that engineers at NASA have
070944 -        learned to interpret "requirements" for good management as
070945 -        "suggestions," which can be ignored as "unnecessary overkill,"
070946 -        when everybody is busy in meetings and talking on the cell
070947 -        phone. ref SDS 6 8K4G, ref DIT 1 NJ6N
070949 -         ..
070950 -    5.  Financial managers are evidently as nimble as engineers playing
070951 -        fast and loose with standards under the rubric of "financial
070952 -        engineering." ref DIT 1 NJ7N
070954 -         ..
070955 -    6.  Millie has had a good run on referral at UCSF.  She is the only
070956 -        patient still in the clinical study.  Previously, the longest
070957 -        any patient had been treated in the study was 10 months.
070958 -        Millie has been treated for nearly 2 years.  During a meeting
070959 -        at Kaiser in June, the doctor came in the room and commented
070960 -        something along the lines: "Gosh; you look great!  I thought
070961 -        you died!" ref SDS 17 0T6I, ref DIT 1 NJ8I
070963 -         ..
070964 -    7.  This was meant as a joke, but there is a serious point about
070965 -        the perils of complex management.  Compare for example work on
070966 -        080711 to be prepared for using new technology. ref SDS 23
070967 -        OC9G, with excitement a week later when Mil nearly "cashed in,"
070968 -        because folks did not have enough time to be prepared, and
070969 -        denial prevents planning for contingency. ref SDS 25 2U8V,
070970 -        ref DIT 1 NJ8S,
070972 -         ..
070973 -    8.  On the plus side, after difficulties on 080718, Kaiser buckled
070974 -        down and made corrections enabling a successful CT test last
070975 -        week on 080911. ref SDS 26 JG43, ref DIT 1 NJ4M
070977 -         ..
070978 -    9.  Financial markets are similar.  You cannot help successful
070979 -        people improve to avoid problems.  When problems ultimately
070980 -        occur, sometimes folks improve to survive.  Those who do
070981 -        survive and rise, then face the dilemma that success sows the
070982 -        seeds of failure, illustrated by the study on 020504.
070983 -        ref SDS 4 NS6F
070985 -         ..
070986 -   10.  Incidentally, Millie's daughter Pam hiked up Half Dome in
070987 -        Yosemite a few weeks ago.  Millie has been training toward
070988 -        first doing Mt Diablo, and then maybe Half Dome next year.
070989 -        We'll see how things go.
070990 -
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070999 -
0710 -