{"id":2558,"date":"2012-04-18T07:41:02","date_gmt":"2012-04-18T11:41:02","guid":{"rendered":"http:\/\/www.credittrends.com\/blog\/?p=2558"},"modified":"2012-04-18T08:30:04","modified_gmt":"2012-04-18T12:30:04","slug":"ibm","status":"publish","type":"post","link":"https:\/\/www.credittrends.com\/blog\/2012\/04\/18\/ibm\/","title":{"rendered":"IBM"},"content":{"rendered":"<p>IBM announced a generally positive bag of results last night. We have several concerns, from the\u00a0commitment\u00a0of nearly 100% of their cash flow from operations toward dividends and share buybacks to other metrics discussed below. AOCI was also used to boost the current quarter, as explained.<\/p>\n<p>As we&#8217;ve been pointing out, their foreign pension plan liabilities have only recently begun to be seriously addressed, a process that will eat up free cash flows for years to come. \u00a0Execution, on the\u00a0other\u00a0hand has\u00a0continued\u00a0to improve as top executives and managers have done an excellent job directing cash&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/p>\n<p>&nbsp;<\/p>\n<p>THE BALANCE OF THE REPORT AVAILABLE ONLY TO CLIENTS OF CT CAPITAL<\/p>\n<p class=\"facebook\"><a href=\"http:\/\/www.facebook.com\/share.php?u=https:\/\/www.credittrends.com\/blog\/2012\/04\/18\/ibm\/\" target=\"_blank\" title=\"Share on Facebook\">Share on Facebook<\/a><\/p><div class=\"tweetthis\" style=\"text-align:left;\"><p> <a class=\"tt\" href=\"http:\/\/twitter.com\/home\/?status=IBM+https%3A%2F%2Fwww.credittrends.com%2Fblog%2F%3Fp%3D2558\" title=\"Post to Twitter\"><img decoding=\"async\" class=\"nothumb lazyload\" data-src=\"http:\/\/www.credittrends.com\/blog\/wp-content\/plugins\/tweet-this\/icons\/en\/twitter\/tt-twitter.png\" alt=\"Post to Twitter\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" \/><noscript><img decoding=\"async\" class=\"nothumb\" src=\"http:\/\/www.credittrends.com\/blog\/wp-content\/plugins\/tweet-this\/icons\/en\/twitter\/tt-twitter.png\" alt=\"Post to Twitter\" \/><\/noscript><\/a> <a class=\"tt\" href=\"http:\/\/twitter.com\/home\/?status=IBM+https%3A%2F%2Fwww.credittrends.com%2Fblog%2F%3Fp%3D2558\" title=\"Post to Twitter\">Tweet This Post<\/a><\/p><\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>IBM announced a generally positive bag of results last night. We have several concerns, from the\u00a0commitment\u00a0of nearly 100% of their cash flow from operations toward dividends and share buybacks to other metrics discussed below. AOCI was also used to boost the current quarter, as explained. As we&#8217;ve been pointing out, their foreign pension plan liabilities [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n<p class=\"facebook\"><a href=\"http:\/\/www.facebook.com\/share.php?u=https:\/\/www.credittrends.com\/blog\/2012\/04\/18\/ibm\/\" target=\"_blank\" title=\"Share on Facebook\">Share on Facebook<\/a><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2558","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/posts\/2558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/comments?post=2558"}],"version-history":[{"count":6,"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/posts\/2558\/revisions"}],"predecessor-version":[{"id":2564,"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/posts\/2558\/revisions\/2564"}],"wp:attachment":[{"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/media?parent=2558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/categories?post=2558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.credittrends.com\/blog\/wp-json\/wp\/v2\/tags?post=2558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}