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Killexams : IBM Administration thinking - BingNews Search results Killexams : IBM Administration thinking - BingNews Killexams : Yes, IBM is in the insurance technology business

“We do business with … the top 100 insurance companies in the world,” said Mark McLaughlin (pictured), IBM’s general manager of insurance.

That reality appears to be not widely known.

“The number one complaint I hear from our customers, from our insurtech partners and from our salespeople is ‘I didn’t know IBM did that,’” McLaughlin said during the exact ITC 2022 conference in Las Vegas. “I don’t think we’ve gotten the word out as much as we need to.”

McLaughlin, speaking during the exact ITC 2022 conference in Las Vegas, explained that the company’s insurance industry business is quite substantive, helping insurer clients pull together software, data, AI, security, and services. IBM also offers process consulting, process automation, technical assistance support and hardware capabilities.

IBM’s insurance reach includes personal lines, commercial lines, life insurance, group benefits and reinsurance, McLaughlin noted.

McLaughlin, in his current position for about six months, handled R&D strategies for the insurance industry at IBM before that. Going back further, he’s a 15-year veteran of IBM’s insurance practice.

Beyond mainframe

McLaughlin noted that many insurers still use mainframes and have huge investments in their core operational systems, while others are looking at cloud-based applications and trying to figure out how to customize that technology to their needs. Still others are trying to partner with insurtechs to take advantage of their distribution, digital capabilities, models and newer sources of data. IBM, he said, works in all scenarios.

“We catalyze [products and services] across that,” McLaughlin said. “IBM is really investing a great deal of money to provide the sort of connective glue that helps connect the legacy systems that you might still need, and also modernize the systems that you decide you don’t need.”

The goal, he said is to connect those technology pieces to data in the insurtech “layer.”

IBM also helps insurance companies automate, he said.

“I’ve got automation tools, AI models, I’ve got different AI capabilities, but I have to deploy those across an average of 14 policy administration systems that insurance companies carry,” McLaughlin said. 

IBM has long provided business consulting to insurance companies, via its database tools, to help them with challenges such as pricing more efficiently. The emergence of insurtechs has led IBM to expand its focus toward helping clients partner with startups. Insurers have plenty in this area with which they need help, McLaughlin explained.

“People think the insurtechs are trying to displace the insurers … but most of them, honestly, just want to partner with the insurer and build a better mousetrap and do claims faster or market better,” McLaughlin said. “We are about, how do you connect with [them] quickly. The number one thing that insurers complain to us about is speed to market. They know they have to roll-out value added services. They know they have to have a mobile experience that connects with insurers. Doing that and the sprawl of IT that insurers have today –it’s really hard and takes a long time.”

Legacy versus the cloud

In the insurtech age, some insurers are getting rid of their old legacy systems and replacing them with cloud-based platforms that are easier to adapt and modernize. Insurtechs, in turn, often pronounce those older networks as outdated and unnecessary in today’s market. According to McLaughlin, it’s not as simple as getting rid of an older system and replacing it with something new.

“You have to think about ‘what are the characteristics of your insurance workload’ and ‘where is the best place to run that workload?’ In that world, theirs is going to be a mix of public cloud, private cloud, mainframe and specialized data appliances in … an existing data center,” McLaughlin said. “Most insurers report that as the future.”

At the same time, McLaughlin declined to advocate for a specific must-have technology for insurers in the insurtech age. Instead, he urges insurers to avoid “locking” themselves into a rigid technology option.

“If you are stuck on one core, if you are stuck with one cloud, you are limited in your ability to compete relative to insurance companies,” McLaughlin said.

 AI and in-depth data analytics are also particularly useful these days toward helping insurers strengthen their customer base, he added.

“We have to know our customers better [and] we have to know our risks better,” McLaughlin said. “We have to be able to deploy those insights in ways that help insurance and healthcare distributors serve insurance more effectively.”

Mon, 10 Oct 2022 23:00:00 -0500 en text/html
Killexams : Biden has $52 billion for semiconductors. Today, work begins to spend that windfall

President Biden is heading to an IBM manufacturing plant in Poughkeepsie, N.Y., on Thursday to tout a new $20 billion investment the company is making in semiconductor research and development as well as other advanced technologies.

It's the second big tech manufacturing announcement this week, following news from Micron that it will spend $100 billion on a new computer chip plant in upstate New York.

The White House says the announcements are part of "a manufacturing boom" fueled by the CHIPS and Science Act, which Biden signed into law in August — a law that includes more than $52 billion in federal subsidies.

While Biden is traveling to New York, a high-powered group will gather at the White House for its first meeting on how best to get that money out the door.

"We need a whole-of-government approach, and we need to get everyone on the same page to figure out how we're going to deploy that $52.5 billion," said Ronnie Chatterji, who is coordinating the implementation of the CHIPS act.

President Biden speaks during the groundbreaking of the new Intel semiconductor plant on September 9, 2022 in Johnstown, Ohio.

Andrew Spear / Getty Images


Getty Images

President Biden speaks during the groundbreaking of the new Intel semiconductor plant on Sept. 9 in Johnstown, Ohio.

Biden wants to beef up U.S. resilience after the pandemic

Semiconductors are needed to run almost everything that has any electronic component, from cars to the weapons the U.S. is sending to Ukraine.

But they are in short supply in the United States and around the globe due to supply chain disruptions exacerbated by the global pandemic.

The Biden administration is desperate to address the domestic shortage of chips — and also wants to counter the rising power of China.

The White House says that the U.S. produces only about 10% to 12% of the world's supply of semiconductors, and none of the advanced chips, whereas East Asia accounts for 75% of global production.

The White House wants to reverse that. "We invented this industry in the United States. I mean, there's a reason it's called Silicon Valley," said Chatterji, who was chief economist at the Commerce Department, and was part of former President Barack Obama's Council of Economic Advisers.

Chatterji's team holds its first meeting with top White House officials and cabinet members on Thursday, including representatives from the Commerce, Defense and State departments. Chatterji said the goal is to "get everybody on the same page about our objectives and our metrics."

President Biden holds up a silicon wafer in this 2021 file photo.

Patrick Semansky / AP



President Biden holds up a silicon wafer in this 2021 file photo.

Surging car prices showed why it's important to build chips in America

In an interview with NPR, Chatterji said surging car prices last year revealed the urgency and importance of his team's work.

"That was one of the biggest drivers of inflation," Chatterji said. "Probably one-third of the inflation increase in 2021 was because of cars ... We couldn't get the chips we needed to build the cars. And when you can't get the chips you need to build the cars, workers get furloughed and prices go up."

Concerns about China's economic, technological and military ambitions also fueled bipartisan interest to invest in semiconductor manufacturing in America.

But the subsidies represent a significant shift in thinking for Washington. Republicans and some Democrats have long opposed government interference in free markets. And there are concerns about wasteful spending.

A student wears cleanroom suit conducts a research inside the clean room of Taiwan Semiconductor Research Institution during a press semiconductor tour at Hsinchu Science Park on September 16, 2022 in Hsinchu, Taiwan.

Annabelle Chih / Getty Images


Getty Images

A student conducts research inside the clean room of Taiwan Semiconductor Research Institution during a press semiconductor tour at Hsinchu Science Park on Sept. 16 in Hsinchu, Taiwan.

There are worries about picking winners and losers

In the past, U.S. government investments in private sector companies haven't always gone smoothly. The government has a bad track record for "trying to pick the winners, and avoiding the losers," said Scott Lincicome, a trade economist at the libertarian-leaning Cato Institute.

Lincicome says too often, the subsidies go to those who spend the most money lobbying — or sometimes projects end up in politically important regions instead of the places where they make the most sense.

"Time and time again with U.S. industrial policy projects, the government has good intentions, but ends up actually backing the wrong horse," Lincicome said.

And he says there's no certain bringing semiconductor makers back to the United States will prevent shortages, noting as an example the exact shortages of baby formula despite large production capacity in the country.

Lincicome favors more trade agreements and reduced trade barriers to allow global markets to react more quickly to domestic and global supply shocks.

Chatterji is aware of the pitfalls associated with industrial policy. He said transparency, governance to avoid conflicts of interest and "rigorous measurement of outcomes" are key.

But he said he's confident the administration can reach its goals if all stakeholders work together: governments, private companies and labor.

"We have to keep our eye on the ball of setting a foundation for all of industry to survive, including small- and medium-sized enterprises," he said. "That's the way we avoid that critique about picking winners that's plagued industrial policy in the past."

Copyright 2022 NPR. To see more, visit

Wed, 05 Oct 2022 21:00:00 -0500 en text/html
Killexams : Biden hails IBM's $20 billion New York manufacturing deal

POUGHKEEPSIE, N.Y., Oct 6 (Reuters) - President Joe Biden on Thursday championed his administration's push to subsidize U.S. semiconductor chip manufacturing and boost blue-collar jobs at a visit to an IBM Corp (IBM.N) facility in New York.

IBM plans to invest $20 billion in New York's Hudson Valley region, once a manufacturing powerhouse, over the next decade to make and develop semiconductors, mainframe technology, artificial intelligence and quantum computing.

"Where is it written that we can’t lead manufacturing in the world?” Biden said. "The supply chain is going to start here and end here, in the United States."

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Government funding is essential to boost manufacturing and ensure U.S. national security by producing critical goods now made abroad, Biden said. His administration and fellow Democrats have directed billions in federal funding to encourage private- sector spending and create jobs.

IBM's announcement is the latest in a string of investments unveiled since Biden signed the Chips and Science bill in August which funded $52 billion to subsidize semiconductor chips manufacturing and research.

"America invented these chips," Biden said.

Hefty subsidies for private businesses are necessary because China and the European Union had been awarding billions in incentives to chip companies, the White House says.

U.S. President Joe Biden tours areas damaged by Hurricane Ian during a visit to Florida, in Fort Myers Beach, Florida, U.S., October 5, 2022. REUTERS/Evelyn Hockstein

Biden has sought to capitalize on the investment announcements ahead of next month's midterm congressional elections. Last month, he traveled to Ohio to speak at the site of Intel Corp's (INTC.O) planned $20 billion semiconductor manufacturing facility.

The Hudson Valley, home of IBM's Poughkeepsie site, was an economic powerhouse during America's Industrial Revolution, but regional jobs dried up during the second half of the last century, as companies fled to lower-cost locations.

IBM, which laid off thousands of people in the region in the 1990s when it moved chip and other manufacturing, said it now plans to make the site "a global hub of the company's quantum computing development, just as it is today for mainframes."

IBM did not provide a detailed breakdown of its $20 billion investment plans.

The White House said it was sparked by Biden's economic policies.

"The industrial strategy is really helping to drive a renaissance in American manufacturing, and domestic investment ... that we haven’t seen in generations," White House National Economic Director Brian Deese told reporters en route to the IBM site.

On Tuesday, Micron Technology (MU.O) said it would invest up to $100 billion over the next 20-plus years to build a semiconductor fabrication facility in New York that is expected to create nearly 50,000 jobs, with the first phase investment of $20 billion planned this decade.

Biden was joined by IBM Chief Executive Arvind Krishna.

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Reporting by Nandita Bose in Poughkeepsie, N.Y., and David Shepardson in Washington Editing by Heather Timmons and Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles.

Thu, 06 Oct 2022 12:16:00 -0500 en text/html
Killexams : 7 Cheap Tech Stocks to Buy Before the Next Breakout

It’s been a tough year for almost all sectors of the market, but this bear has been particularly brutal for tech stocks, which have suffered big losses on concerns about rising interest rates. The Nasdaq Composite just hit a fresh two-year low following news that the Biden administration will require U.S. firms selling advanced semiconductors and related manufacturing equipment to China to apply for a license. Year to date, the index is down 32.6%. The silver lining is there are many cheap tech stocks on sale. Furthermore, there are signs that a rebound could come sooner than some anticipate.

While the Federal Reserve has remained resolute that it will continue to hike interest rates to get inflation under control, there are signs previous rate hikes are starting to have the desired effect. The market is eagerly awaiting another Consumer Price Index reading this week. If future data supports cooling inflation, the Fed may slow the pace of its rate increases, providing the market with a boost.

When this happens, whether it’s next month or next year, hard-hit tech stocks are likely to lead the way higher. Therefore, investors should consider the cheap tech stocks on today’s list as buy-and-hold candidates in anticipation of an eventual tech breakout.

AVGO Broadcom $437.70 GOOG,GOOGL Alphabet $98.71 MU Micron Technology $51.38 AMAT Applied Materials $79.19 IBM International Business Machines $117.78 TEAM Atlassian $220.27 AYX Alteryx $52.14

Cheap Tech Stocks: Broadcom (AVGO)

broadcom (AVGO) logo outside office building © Provided by Investorplace News broadcom (AVGO) logo outside office building Source: Sasima /

Chipmaker Broadcom (NASDAQ:AVGO) fell nearly 5% today, bringing its year-to-date loss to 34%. On the bright side, shares look cheap, with a P/E ratio of 18.93, near the stock’s three-year low and significantly lower than the 30.95 median P/E ratio over the past 10 years. That means investors can purchase approximately 50% more earnings relative to price right now.  

For 2023, analysts expect Broadcom to grow earnings by nearly 34% to $37.42 per share on a 21% revenue increase to $33.2 billion.

Where AVGO really stands out among its peers, though, is its return on invested capital to the weighted average cost of capital, or the ROIC versus WACC comparison. It costs the company 8.39% to borrow capital and the return on invested capital is 18.91%. That’s value creation in simple terms. In other words, Broadcom is a company that turns capital into more capital.

Alphabet (GOOG,GOOGL)

Alphabet Inc. (GOOG, GOOGL) and Google logos seen displayed on a smartphone © Provided by Investorplace News Alphabet Inc. (GOOG, GOOGL) and Google logos seen displayed on a smartphone Source: IgorGolovniov /

The upper-echelon tech companies have not been spared by the bear, and that includes Alphabet (NASDAQ:GOOG,GOOGL), which is down 32% year to date. The company saw revenue growth slow in the first quarter. This was followed by another slowdown in Q2, as the company reported lower-than-expected sales and earnings. Investors weren’t pleased.

The company also had more employees yet generated lower net income in Q2. The number of Albabet’s employees increased from around 144,000 in the second quarter of 2021 to around 174,000 at the end of this year’s second quarter. Meanwhile, net income declined from $18.5 billion to $16 billion during the same period. So, it’s not surprising CEO Sundar Pichai recently became more vocal about potential layoffs and other cost-reduction efforts. 

This is obviously bad news for employees, but it represents an opportunity for investors. Alphabet is getting leaner and meaner, which will drive greater efficiency in the coming quarters.

Cheap Tech Stocks: Micron Technology (MU)

Why MU Stock Looks Attractive for Longer Term Investors © Provided by Investorplace News Why MU Stock Looks Attractive for Longer Term Investors Source: madamF /

Idaho-based chipmaker Micron Technology (NASDAQ:MU) makes memory and storage products. Shares are down 45% so far this year, more than the Nasdaq and the semiconductor sector. What landed MU a spot on today’s list of cheap tech stocks to buy, though, is that the gap between the stock’s P/E ratio and its forward P/E ratio implies the market expects great things from the firm. 

Micron’s P/E ratio is currently 6.62. That makes MU stock among the cheapest 20% of semiconductor stocks. However, its forward P/E ratio is above 45. That makes it more expensive than roughly 93% of industry competitors. In other words, the market thinks investors will pay significantly more for $1 of Micron’s earnings in the future. 

This is likely due in part to the fact that the company is spending heavily to satisfy the push to boost domestic chip production. The company recently announced it will spend up to $100 billion to build a semiconductor manufacturing campus in upstate New York. It will take some time for the plan to be fruitful, but it should translate into higher prices for MU shareholders long term. 

Applied Materials (AMAT)

a machine manufactures semiconductor chips in a factory setting. Semiconductor stocks to buy © Provided by Investorplace News a machine manufactures semiconductor chips in a factory setting. Semiconductor stocks to buy Source: Shutterstock

Applied Materials (NASDAQ:AMAT) is a cheap tech stock with traditional value stock characteristics. AMAT stock carries an average target price of $123.44 but trades for around $79 following a 50% year-to-date drop. That target implies upside of more than 55%.

In November 2021, Applied Materials started paying a dividend, something more commonly associated with mature, value stocks than semiconductor firms. Shares currently yield 1.3%. While this yield isn’t likely to wow hardcore income investors, it is a positive in an industry known for growth reinvestment rather than dividend payouts.  

Another reason investors should consider AMAT stock is that the company managed to increase EPS even as operating costs and margins increased. In its most recently reported quarter, net income fell 6% year over year. However, non-GAAP adjusted diluted EPS increased by 2% during the same period. In other words, Applied Materials is finding efficiencies for investors despite rising external cost pressures. 

Cheap Tech Stocks: International Business Machines (IBM)

Quantum computing stocks: Sign of IBM with Canada Head Office Building in background in Markham, Ontario, Canada. IBM is an American multinational technology company. © Provided by Investorplace News Quantum computing stocks: Sign of IBM with Canada Head Office Building in background in Markham, Ontario, Canada. IBM is an American multinational technology company. Source: JHVEPhoto /

International Business Machines’ (NYSE:IBM) bullish narrative is similar to that of Applied Materials. Both are cheap tech stocks with value characteristics, including a dividend payment. In the case of IBM, shares yield 5.4% following an 8.6% year-to-date decline in the stock.  That’s an impressive yield even by non-tech standards. 

IBM’s Q2 earnings were impressive in many respects. Revenue and profits bested Wall Street’s expectations. However, given its large international base, IBM is particularly susceptible to the strong U.S. dollar. The revenue earned in those locations must be exchanged for U.S. dollars prior to being repatriated and accounted for. This is a drag on the company’s financials. 

There’s little indication the dollar will weaken soon. But when it does, IBM’s results will get an immediate boost. In the meantime, shareholders have the dividend to tide them over. 

Atlassian (TEAM)

A man examines a digital screen with different icons for software. © Provided by Investorplace News A man examines a digital screen with different icons for software. Source: Shutterstock

Shares of Australian software company Atlassian (NASDAQ:TEAM) have lost 42% year to date. I think the selling is overdone based on the company’s strong fundamentals. 

In its most recently reported quarter, revenue increased 36% year over year to $759.8 million. As investors are all too aware recently, growth alone can’t substantiate increasing share prices in the current macro environment. The bottom line has become much more relevant than the top line. Yet, there too, Atlassian showed drastic improvement, cutting its net loss by more than half to $105.5 million. 

Analysts’ average target price is $320.45, implying upside of more than 45% from the current level. Investors who believe Atlassian’s assertion that its products are mission-critical to IT firms while also being relatively small-line items on their budgets, get it. Atlassian is doing a lot of things correctly and quickly improving fundamentals.

Cheap Tech Stocks: Alteryx (AYX)

The Alteryx (AYX) logo is displayed on a smartphone screen. © Provided by Investorplace News The Alteryx (AYX) logo is displayed on a smartphone screen. Source: rafapress /

Analytics automation firm Alteryx (NASDAQ:AYX) is down 24% year to date, yet the growth-oriented firm has a number of tailwinds. According to the company, analytics spending is expected to outpace other tech spending over the next 12-18 months. 

In Q2, revenue increased by 50% year over year, reaching $180.6 million. Furthermore, annual recurring revenue was up 33% from a year ago to $727 million. 

Annual recurring revenue, or ARR, is particularly important to tech firms because it represents subscription-based revenues. Those subscriptions often come from large enterprises, which contribute in an outsized manner to overall revenue. ARR is also used as a generalized indicator of overall health and in strategic planning. 

AYX stock has 47% upside based on analysts’ average target price of $76.47. However, the high analyst price of $127 implies upside of 147%. 

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks.Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.

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Mon, 10 Oct 2022 10:30:43 -0500 en-US text/html
Killexams : IBM to announce $20B investment during Biden trip to New York

IBM on Thursday will announce plans to invest $20 billion over the next 10 years on research and development initiatives and semiconductor manufacturing as President Biden visits the company’s campus in New York.

Biden will travel to Poughkeepsie to speak about his economic plan and meet with workers, a White House official said. The president will highlight IBM’s announcement, which comes on the heels of another investment from chip manufacturer Micron in upstate New York.

IBM said its vision for the Poughkeepsie campus is to become “a global hub of the company’s quantum computing development.”

Biden will be joined during the visit by Reps. Sean Patrick Maloney (D-N.Y.), Paul Tonko (D-N.Y.) and Pat Ryan (D-N.Y.).

Biden will also attend fundraisers in New York City and Red Bank, N.J., during Thursday’s trip.

The IBM announcement is the latest economic win for the White House since the passage of the CHIPS and Science Act, which passed with bipartisan support and included more than $50 billion in incentives for manufacturers to build domestic semiconductor plants. It also included more than $80 billion for the National Science Foundation authorized over five years to support innovation and research.

Biden administration officials had for months warned of supply chain and national security risks if Congress did not invest in domestic manufacturing of chips that are used to power computers, cars and major home appliances, arguing the U.S. would become too reliant on China and others for the semiconductors.

Thu, 06 Oct 2022 09:26:00 -0500 en-US text/html
Killexams : Biden contends a ‘historic manufacturing boom’ is underway — and can act as a bulwark for American democracy

WASHINGTON (AP) — President Joe Biden is working to create a manufacturing revival — even helping to put factory jobs in Republican territory under the belief it can restore faith in U.S. democracy.

The Micron investment announcement represented a commitment in a Republican congressional district that Biden and the company credited to the recently enacted $280 billion CHIPS and Science Act.

“Today is another win for America, and another massive new investment in America spurred by my economic plan,” Biden said in a statement, of the Micron investment. “Together, we are building an economy from the bottom up and the middle out, where we lower costs for our families and make it right here in America.”

Biden traveled to Poughkeepsie, N.Y., to herald the IBM commitment, whose focuses are to include semiconductors, computers, hybrid cloud, artificial intelligence and quantum computers. The company said its projects would directly benefit from Biden’s CHIPS and Science Act.

See: IBM to invest $20 billion in New York’s Hudson Valley region over 10 years

Biden has staked his presidency on what he has called “a historic manufacturing boom,” hoping to succeed where past presidents, governors and hordes of other politicians have struggled for a half-century. His goal is to keep opening new factories in states such as Ohio, Idaho, North Carolina and Georgia — where Democrats’ footholds are shaky at best. Administration officials say they want to spread the prosperity across the entire country, rather than let it cluster in centers of extreme wealth, in a bid to renew the middle class and a sense of national pride.

The push comes at a precarious moment for the global economy. Consumer-price inflation has hurt Biden’s popularity, despite some exact apparent improvement on both scores, and prompted recession concerns. Much of Europe faces a possible downturn due to the jump in energy prices after Russia’s invasion of Ukraine, while the International Monetary Fund just downgraded growth in China. The world economy is defined by uncertainty just as Biden has called for investments in clean energy and technology that could take years to pay off.

The president is hopeful that whatever good manufacturing can do for the U.S. economy also turns out to yield political benefits for himself and other Democrats in 2022 and beyond. He told Democratic donors late last month that the manufacturing and technology investments mean “we have an opportunity” to strengthen the U.S. if Democratic governors and lawmakers are elected this year.

Washington Watch (September 2022): ‘More work still to do’: Biden celebrates Inflation Reduction Act, but latest CPI report tops forecasts, sparking fresh worries

Going into the midterm elections, Biden is telling voters that a factory renaissance has already started. The administration sees its infrastructure spending, computer-chip investments and clean-energy incentives as helping domestic manufacturing in unprecedented ways.

Best New Ideas in Money podcast: Making chips at home again

Also see: Kamala Harris seeks chip-manufacturing partners in Japan meetings

And: U.S., Mexico to cooperate on production of semiconductors, electric vehicles

Recent academic studies suggest that decades of layoffs due to offshoring contributed to the rise of Republican Donald Trump, with his opposition to immigration and global trade. But many of the authors of the studies doubt that Biden can make these demographic trends disappear through the promise of jobs for skilled workers.

Democratic Rep. Ro Khanna of California would like to see the president make a national tour of factory openings, so that his policies could stick better in voters’ minds. Khanna recently attended the groundbreaking of a $20 billion Intel plant in Ohio and laid out his belief that factory job losses helped cause today’s political schisms.

The Silicon Valley congressman reasons that too many Americans have lost faith in a government that seemed indifferent to their own well-being, leading them to embrace hucksters and authoritarians who thrive by exploiting and widening divisions in society.

“How do you get rid of people’s jobs and expect them to believe in democracy?” Khanna asks.

Exclusive: Starbucks urged to work with unions in letter from members of Congress

Factory jobs have risen during Biden’s tenure to the most since 2008 at 12.85 million, yet the task of steadying the country’s middle class and its democratic institutions is far from complete. The industrial Midwest has yet to recover the factory jobs shed in the pandemic, let alone decades of layoffs in which the economic challenges evolved into political tensions.

Labor Department data show that Ohio is still 10,000 factory jobs shy of its pre-pandemic level and 350,000 jobs below its total in 2000. The numbers are similar in Michigan, Pennsylvania and Wisconsin — three states that were key to Biden’s 2020 victory and could help decide control of Congress in November’s elections.

Don’t miss: Biden touts U.S. economy’s progress at Intel plant’s groundbreaking in Ohio, but Democrats’ Senate nominee there suggests president shouldn’t run in 2024

The White House says Biden eschews thinking about Americans as consumers interested only in the cheapest prices and thus promoting outsourcing. Instead, his speeches are woven with talk about people as workers and the identity that working gives them.

What Biden can show with this year’s factory groundbreakings is progress, even if the total number of manufacturing jobs is unlikely to return to the 1979 peak of 19.55 million. Intel’s computer-chip plant being built in New Albany, Ohio, would add 3,000 jobs. Hyundai would add 8,100 jobs with its electric-vehicle plant in Georgia. Wolfspeed with plans to produce silicon carbide wafers in North Carolina, would add 1,800 jobs.

See: Biden team touts impact of policy successes as White House welcomes local government leaders

Jay Timmons, CEO of the National Association of Manufacturers, said the gains in factory jobs reflect five years of effort, starting with the 2017 tax overhaul by congressional Republicans and including Biden’s investments in infrastructure and computer chips as well as efforts to return jobs to the U.S. after global supply-chain disruptions caused by the pandemic.

“There’s a commitment by government at all levels to do more here and a desire by manufacturers to do more here,” Timmons said.

Massachusetts Institute of Technology economist Daron Acemoglu applauded Biden’s plans for spreading factory work across the country. It’s too soon to tell if the administration is succeeding, he said, but Biden is challenging what was once conventional wisdom among economists that little could be done to expand factory work in the U.S.

“I believe the president is right,” said Acemoglu, the co-author of the book “Why Nations Fail.” “‘Good jobs,’ which pay decent wages, have job stability, offer career-addressing opportunities, and endow a sense of accomplishment and dignity, are important for the middle class and social cohesion.”

New academic research released in September suggests that the offshoring of factory jobs led white men to feel like victims and gave way to the rise of grievance politics that helped fuel Trump’s ascendancy among Republican voters. That movement in turn spawned election denialism and political violence that Biden has repeatedly said is “a dagger to the throat of our democracy.”

The research covering 3,500 U.S. citizens finds that factory job losses due to automation are less controversial among voters than the offshoring, which triggered a “self-victimization bias” for whites who were more likely to “view offshoring as leading to greater total harm to the American economy, and to the U.S. position in the world.”

One of the study’s authors, Leonardo Baccini of McGill University in Montreal, still expects factory-job totals to shrink, though a decline primarily due to automation would be less harmful to Democratic candidates. He still anticipates factory-job losses over the long term as advanced economies focus more on productive services to sustain growth.

“From an economic standpoint, the decline of U.S. manufacturing is inevitable and it is actually a good thing,” Baccini said. “Any attempt to stop this structural transformation with protectionism and government subsidies is likely to backfire.”

J. Lawrence Broz, a political scientist at the University of California San Diego, co-wrote a 2019 research paper that found populist support was strongest in communities that endured long-term economic and social decline, a contrast to the superstar cities where technology, finance and a highly educated workforce were magnets for wealth.

“It is unlikely that exact efforts to re-shore manufacturing jobs will produce the intended effects, either economically or politically,” Broz said. “The new factories won’t employ large numbers of less-skilled workers, leaving white industrial workers just as angry as they are now.”

That means the underlying test of Biden’s agenda might be whether enough workers can be educated to meet the needs of a manufacturing sector with higher standards than during the heights of its dominance in the 20th century.

MarketWatch contributed.

Mon, 10 Oct 2022 10:22:00 -0500 en-US text/html
Killexams : IBM Gets a Quant Upgrade, But What do the Charts THINK?

IBM (IBM) was upgraded Friday by TheStreet's Quant Ratings service. Long-time Real Money subscribers have come to learn I like to combine investment approaches. No one investment approach (fundamental, technical, quantitative) is perfect and better results can come from blending or combining different methods.

Let's see what could Improve the charts of IBM keeping in mind this quantitative upgrade.

In the daily bar chart of IBM, below, we can see that the shares have moved in a broad sideways trend the past 12 months. The 200-day moving average line has slowly moved up and then down in what could be considered a neutral band.

The On-Balance-Volume (OBV) line has also moved sideways suggesting a balance between buyers and sellers. The Moving Average Convergence Divergence (MACD) oscillator is currently in a bearish alignment below the zero line but the trend of the past year has been sideways.

In the weekly Japanese candlestick chart of IBM, below, we can see a broad sideways trend to trading the past 18 months or so. Trading volume has slowed in the past few months and the weekly OBV line shows a decline from February. So far prices have held relatively steady but that may not continue if weakness in the broader market averages continues.

The MACD oscillator is slightly above the zero line and looks like it will cross the line in the near future.

In this daily Point and Figure chart of IBM, below, we can see a possible downside price target in the $109 area. A trade at $122.47 is needed to refresh the downtrend.

In this second Point and Figure chart of IBM, below, we used weekly price data. Here a price target of $108 is shown.

Bottom-line strategy: IBM could continue to trade in a broad sideways pattern but further weakness cannot be ruled out as weak market conditions can mean that traders sell first and ask questions later.

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Fri, 16 Sep 2022 05:38:00 -0500 BRUCE KAMICH en text/html
Killexams : IBM Think Tank Pushes for Brain-Computer Interface Safeguards

Brain-computer interface technology is advancing rapidly, to the point where consumers could someday soon talk to Amazon Alexa using only their mind. As exciting as this possibility may seem, particularly for people with communication and physical disabilities, it also raises some serious questions about privacy, according to a new whitepaper published by IBM and the Future of Privacy Forum.

The whitepaper titled “Privacy and the Connected Mind: Understanding the Data Flows and Privacy Risks of Brain-Computer Interfaces” explores both the medical benefits and the difficult questions brain-computer interface technology poses around privacy and consumer welfare.

"Policymakers, researchers, and other stakeholders should seek to proactively understand the risks posed by neurotechnology and develop technological and policy safeguards that precisely target these risks," the authors write.

The IBM Policy and Future of Privacy Forum authors also note that it is important to understand the differences between current and likely future users of these technologies versus far-off notions depicted in science fiction in order to better identify concerns and prioritize meaningful technological and policy initiatives

"While the potential uses of BCIs are numerous, BCIs cannot at present or in the near future 'read a person’s complete thoughts,' serve as an accurate lie detector, or pump information directly into the brain," the authors write.

As for solutions to the challenges posed by brain-computer interface technologies, the experts at IBM's think tank and the Future of Privacy Forum note that many of these concerns can be addressed by technical safegaurds such as providing on/off controls and hardware switches; providing users with granular controls on devices and in companion apps for managing the collection, use, and sharing of personal neurodata; and providing heightened transparency and control for brain-computer interface technologies that specifically send signals to the brain, rather than merely receive neurodata.

The paper also points to policy and governance mechanisms that could minimize the risks posed by brain-computer interface devices and other neurotechnologies. These include ensuring that brain-computer interface derived inferences ar not allowed for uses to influence decisions about individuals that have legal effects, livelihood effects, or similar significant impacts such as assessing the truthfulness of statements in legal proceedings, inferring a person's thoughts, emotions, psychological state, personality attributes as part of hiring or school admissions decisions, or assessing individuals’ eligibility for legal benefits.

Tue, 04 Oct 2022 12:00:00 -0500 en text/html
Killexams : What's next for $113M Binghamton battery project? What to know about timelines, impacts cannot provide a good user experience to your browser. To use this site and continue to benefit from our journalism and site features, please upgrade to the latest version of Chrome, Edge, Firefox or Safari.

Sun, 16 Oct 2022 20:45:00 -0500 en-US text/html
Killexams : What is Kyndryl? IBM’s managed infrastructure services spin-off explained

Kyndryl claims to be the world’s largest IT infrastructure provider. A division of IBM until November 2021, it is now a separate company. Initially, little changed for customers — except perhaps the logo on their invoice — but with time, Kyndryl is taking advantage of its freedom from IBM to introduce new services and work with new partners.

What does Kyndryl do?

Essentially, Kyndryl does exactly what the managed infrastructure services unit of IBM’s Global Technology Services segment did: outsource the management of enterprises’ IT infrastructure, whether it came from IBM or another vendor.

Under IBM’s stewardship, the activities since moved to Kyndryl were in slow decline, from $21.8 billion in annual revenue in 2018 down 7% to $20.28 billion in 2019, and down 4.6% to $19.35 billion in 2020, according to IBM filings with the SEC. That hasn’t changed since the split: Kyndryl’s first full-year filing as an independent company, barely two months after the separation, showed 2021 revenue down a further 4%, to $18.66 billion. The decline continued into 2022, with first quarter revenue down 7% year on year, and the second quarter down 10%.

However, Kyndryl is beginning to develop new services, and is forming partnerships in a bid to grow its revenue. It estimates that the $415 billion market opportunity it addresses is growing at 7% a year, with some areas it is targeting (including security, intelligent automation and public cloud managed services) growing even faster.

Kyndryl has organized itself into six global managed services practices, each of which manages a different aspect of technology. These are:

  • Applications, data and AI
  • Cloud
  • Core enterprise and zCloud, IBM’s mainframe-as-a-service offering
  • Digital workplace
  • Network and edge
  • Security and resiliency

There is also a customer advisory practice that combines managed services, advisory services, and implantation.

In September 2022, Kyndryl also launched two new branded services, Bridge and Vital. The company calls Kyndryl Bridge an open integration platform, an operational monitoring system, somewhat like HPE GreenLake or IBM vCenter, that Kyndryl staff will connect to an enterprise’s existing IT infrastructure to help CIOs keep ahead of problems. Kyndryl Vital is essentially a design workshop, during which Kyndryl consultants work alongside an enterprise’s employees to prototype applications.

Who are Kyndryl’s partners?

At the moment of their split, Kyndryl and IBM were one another’s biggest suppliers, and that will remain true for the time being. But Kyndryl is free to independently explore, with no preference for IBM’s software and services.

Kyndryl named Microsoft its first cloud infrastructure partner in November 2021, announcing a similar partnership with Google the following month. But it took it until February 2022 to form a pact with Amazon Web Services.

IBM had partnerships with numerous software providers, and Kyndryl inherited or expanded some of those, including with Elastic, Lenovo, SAP, ServiceNow, and VMware.

Kyndryl has also formed new partnerships, including with Cisco Systems, Citrix, Cloudera, Dynatrace, EY, Field Safe Solutions, NetApp, Nokia, Oracle, Pure Storage, IBM subsidiary Red Hat, Teradata and Veritas Technologies. These partnerships expand Kyndryl’s repertoire when it comes to integrating products and services into Bridge, or incorporating them into co-creations with Vital.

How big is Kyndryl?

Kyndryl started with 4,600 customers (including 75 of the Fortune 100), over a quarter of IBM’s 350,000 staff, activities generating around $19 billion in annual revenue and an order backlog (or long-term maintenance contracts from all those customers) of around $62 billion. Where that puts Kyndryl in the rankings depends on what you’re measuring. Kyndryl says it’s the world’s largest IT infrastructure provider, although IT channel publication CRN says it’s only the fifth-largest solutions provider, a much broader category, behind Accenture, what’s left of IBM, DXC Technology, and Tata Consulting Services.

Is Kyndryl hiring?

Like crazy! Kyndryl hired over a dozen top executives in 2021, and by the end of the year had 88,683 employees. Although its hiring in the US has slowed, it had 1,141 lower-level job openings posted at press time, over half of them in the EU, with other significant concentrations in India and Japan. Half the openings are for technical specialists, with more than 100 openings in systems architecture and an emphasis on automation.

Who works at Kyndryl?

Most staff at Kyndryl simply changed email addresses, carrying on doing the same work for clients as they did at IBM before the split. Indeed, Kyndryl went out of its way to reassure customers that their key points of contact and support, and the other team members they work with, would not change, and that the company continues to work with experts in other divisions of IBM as it did before.

But the company brought in new blood for many of the most senior roles, either hiring in from other companies, or poaching from other divisions of IBM. CEO Martin Schroeter is ex-IBM, in fact. He left the company in June 2020, before the spin-off was announced, and came back to lead Kyndryl, then known as NewCo, in January 2021. He was previously SVP of global markets at IBM, and before that its CFO.

The next senior appointments, in March 2021, were chief marketing officer Maria Bartolome Winans, who came to the spin-off directly from her role as CMO for IBM Americas, and group president Elly Keinan, another former IBMer who took time out to work in venture capital after 33 years at the company.

Global head of corporate affairs Una Pulizzi was also a new hire in April 2021, previously in a similar role at GE, while general counsel Edward Sebold was chief legal officer for IBM’s Watson Health division.

Poaching of more senior IBMers continued in early May 2021. Chief transformation officer Nelly Akoth was previously with IBM Global Business Services; Leigh Price moved from one leadership role in strategy and corporate development to another; and Vineet Khurana became controller at Kyndryl after five years in three different CFO roles at IBM. Kyndryl’s global alliances and partnerships leader Stephen Leonard held a number of positions at IBM, most recently as general manager of the Power Systems division.

It wasn’t until the second half of May 2021 that Kyndryl began to name its top technical staff: CIO Michael Bradshaw is new to IBM, having previously served as CIO at NBC/Universal and as CIO for Mission Systems and Training at Lockheed Martin. CTO Antoine Shagoury is a former CIO of US bank State Street and of stock exchanges in London and the US. Most recently, he worked at strategic advisory partnership Ridge-Lane.

Other senior Kyndryl hires from outside IBM include Vic Bhagat, a former CIO for Verizon Enterprise Solutions, EMC, and several units of GE as the head of its customer advisory practice, and COO Harsh Chugh, most recently CFO at SaaS provider PlanSource.

Who is on Kyndryl’s board?

To provide the new company with more stability, Kyndryl’s board of directors will serve overlapping three-year terms through 2027, so it’ll take at least two elections for an outside group to take control of the board.

Kyndryl’s first 10 directors are:

  • CEO Martyn Schroeter, board chairman
  • Stephen Hester, lead independent director. He was CEO of RSA Insurance Group until June 2021, and is chairman of easyJet
  • Dominic Caruso, retired Johnson & Johnson CFO
  • John Harris, former VP of business development for Raytheon and board member at Cisco Systems
  • Shirley Ann Jackson, president of Rensselaer Polytechnic Institute
  • Janina Kugel, former CHRO and member of the managing board of German industrial conglomerate Siemens
  • Denis Machuel, CEO of temporary staffing firm Adecco
  • Rahul Merchant, former head of technology at retirement fund TIAA, Fannie Mae, and Merrill Lynch, and current board member at Convergint Technologies, Global Cloud Exchange, Juniper Networks, and Emulex
  • Jana Schreuder, retired COO of Northern Trust and current board member at Entrust Datacard and Blucora
  • Howard Ungerleider, president and CFO of commodity chemicals company Dow

What does Kyndryl’s split mean for IBM?

IBM is still one of the biggest technology businesses in the world. Its separation from Kyndryl freed it from a legacy business that wasn’t growing, and enabled it to reorganize into three main operating segments now called Software, Consulting (formerly Global Business Services), and Infrastructure. It’s doing well post-split: For the full year 2021 revenue from Software rose 5.3% to $24.1 billion, and Consulting made $17.8 billion, up 9.8%, although revenue from Infrastructure, the segment Kyndryl was spun out of, fell 2.4% to $14.2 billion. Those trends, both positive and negative, continued through the first half of 2022.

Customer needs for application services and infrastructure services are diverging, and so spinning off Kyndryl will allow IBM to focus on growing its open hybrid cloud platform and AI capabilities, IBM CEO Arvind Krishna said in October 2020. The split turns IBM from a services-led company to one making more than half its revenue from software and solutions.

But until that growth takes hold, Kyndryl and IBM remain close, as they began their separate lives as one another’s largest customers.

Thu, 14 Oct 2021 14:03:00 -0500 en-US text/html
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