Why It Can't Happen At Big Blue
In your story "It can't happen here, can it?" (Cover Story, Apr. 20), IBM is cited as one of five major companies that are under fire from shareholders.
You may rest assured that shareholder discontent with company performance will never affect the majority of IBM's board. Ten of its 17 members own less than 1,500 shares each. Collectively, it is not in their interest to challenge the lackluster performance of CEO John Akers, an action that might jeopardize the maintenance of their $55,000-per-year retainers.
Robert D. Newton