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Consistency of experience, operations and results is one of the most important factors in technology product success. However, while it is a commonplace issue in consumer tech, the subject is seldom highlighted in enterprise IT solutions and services. That makes last week’s announcement that Red Hat will transfer its data storage portfolio and teams to IBM Storage particularly interesting. Let’s take a look.

Also see: Top Cloud Companies

The value of data center and storage consistency

Why is consistency so important? Consider it from a consumer perspective, where a consistent, simple, recognizable, reliable interface removes much of the pain and confusion out of what are often highly complex operations and interactions. Developing reliably consistent, easy to use interfaces is a primary reason for the success of solution providers, such as Microsoft, Apple and Google, as well as web-based companies, like Amazon, eBay and many others.

Those same benefits—reduced complexity and confusion, and increased efficiency and productivity—are clearly in the interest of businesses, as well. But the basic nature of enterprise IT is usually at odds with reliance on or adherence to single companies or platforms. Instead, organizations tend to engage specific vendors to support specific workloads, applications and business processes.

That can be further complicated by leadership changes. For example, new CTO or IT decision makers who prefer or are more familiar with specific vendors and platforms often choose new solutions and tools to replace or run alongside legacy systems and applications. That is further exacerbated by the general longevity of business computing hardware, which is why many enterprise IT infrastructures are hodgepodges of heterogeneous hardware and software.

Let’s add two other issues to the enterprise IT headache heap. First and foremost, all those systems and applications need to be able to successfully access and use organizations’ stored information resources, and to consistently support the creation, acquisition and management of new data. Second, those same on-premises systems, applications and data assets need to be consistently supported and managed across off-premises cloud platforms.

In other words, without the vital benefits that consistent experience, results and expectations provide, enterprise IT can find itself on a fast track to frustration and failure.

Also see: Why Cloud Means Cloud Native

Red Hat and IBM’s storage plan

How does the transfer of Red Hat’s storage assets and teams to IBM address this? First, it is important to consider the work that both have put into taming heterogeneous storage complexity. In IBM’s case, the company’s IBM Spectrum Storage Suite has been designed to support both IBM’s homegrown storage systems and scores of solutions from third party vendors.

For example, IBM Spectrum Control and IBM Storage Insights are designed to effectively monitor, analyze and manage complex enterprise storage environments. In addition, IBM Spectrum Virtualize focuses on block storage management and IBM Spectrum Scale can be used to manage unstructured data storage.

Finally, IBM Spectrum Fusion is a container-native file storage platform designed for Kubernetes applications running on Red Hat’s OpenShift Container Platform (OCP). All can be used with select offerings from Dell EMC, Hitachi Data Systems (HDS), Huawei, HP/3PAR, Lenovo, NetApp and Pure Storage.

Red Hat’s Ceph Storage is a highly scalable open-source software-defined storage solution designed to address enterprises’ block, file and object storage needs. It is deeply integrated with Red Hat’s OpenStack Platform and is at the center of the OpenShift Data Foundation (ODF).

Many enterprises are running Red Hat Rook as the Ceph operator in Kubernetes clusters. However, Ceph can run securely anywhere that OpenShift runs—on-premises and in the cloud—and is designed to help enterprises simplify operations and speed application developers’ time to market.

According to IBM, it will integrate the storage technologies from Red Hat ODF as the foundation for IBM Spectrum Fusion, thus combining the companies’ container technologies. In addition, IBM intends to offer new Ceph solutions to deliver a unified, software-defined storage platform that bridges the architectural divide between data centers and cloud providers.

As Denis Kenneally, GM of IBM Storage noted in a blog post about the announcement, “Today’s news means faster hybrid, multi-cloud deployments, with greater simplicity and expanded platform support backed by IBM’s global sales and lifecycle services. IBM will continue Red Hat’s commitment to existing customers and the open-source community, and we are accelerating our roadmap with new products and services to be announced in the coming months.”

Also see: Top Digital Transformation Companies

Final analysis

So what are the essential takeaways from this announcement? First and most practically, the combination of IBM and Red Hat’s storage assets and teams will support both companies’ existing solutions and initiatives. They should also result in a host of new storage offerings and services their customers can use to consistently manage and monitor their data resources. This is true no matter where they reside—on premises, off premises and in hybrid and multi-cloud environments.

Just as importantly, the announcement speaks to IBM’s continuing efforts to develop innovative heterogeneous storage solutions and to its ongoing commitment to support open-source projects and technologies. It also underscores the value of IBM’s acquisition of Red Hat, and the benefits that have accrued from that deal.

Overall, the combination of IBM and Red Hat’s storage assets and teams should benefit both organizations and their enterprise customers. It will also likely interest other large businesses that are struggling to capture consistent performance and benefits from their data storage investments.

Also see: Best Machine Learning Platforms 

Wed, 12 Oct 2022 06:04:00 -0500 en-US text/html https://www.eweek.com/cloud/red-hat-transfers-storage-portfolio-and-teams-to-ibm/
Killexams : IBM veteran joins Red Hat C-suite in major executive shake-up No result found, try new keyword!Raleigh-based Red Hat is making key changes to its executive leadership as it gives its finance and operations organization a makeover. Thu, 13 Oct 2022 04:56:00 -0500 text/html https://www.bizjournals.com/charlotte/news/2022/10/13/red-hat-ibm-executive-leadership-changes.html Killexams : IBM: A High-Yielding Income Generation Idea Worth A Look
Day 1 - Mobile World Congress 2022

David Ramos

By The Valuentum Team

International Business Machines Corporation (NYSE:IBM) has become a fundamentally different business in the past few years, one focused on providing hybrid cloud computing offerings. The company is a stellar free cash flow generator which enables IBM to reward investors via generous dividend increases, with shares of IBM yielding ~5.1% as of this writing. Substantial near-term headwinds remain, largely due to the various exogenous shocks seen of late (such as major inflationary pressures, rising interest rates, supply chain hurdles, and raging geopolitical tensions), though IBM is still worth considering as a high-yielding income generation idea.

IBM's Key Investment Considerations

Investment Considerations

Image Source: Valuentum

IBM solves business problems via integrated hardware/software solutions that leverage IT and its knowledge of business processes. Its solutions help reduce a client's costs or enable new capabilities that generate revenue. The company was founded in 1924 and is headquartered in New York.

Back in 2019, IBM bought Red Hat (a top provider of open source cloud software) through a ~$34 billion deal which made IBM a contending hybrid cloud provider. IBM is looking to seize what it describes as a ~$1 trillion hybrid cloud opportunity, and latest growth in this area has been encouraging. IBM's revamped management team is working hard to turn things around after the company made various blunders during the 2010s decade. Its current Chairman and CEO, Arvind Krishna, has done a solid job righting the ship at IBM since taking on the top role in 2020.

In November 2021, IBM spun off its legacy business tax-free to shareholders as a new publicly traded entity, Kyndryl Holdings, Inc. (KD). Initially, IBM retained a 19.9% stake in Kyndryl though the firm intends to exit that position within 12 months of the spinoff.

Earnings Update

On July 18, IBM reported earnings for the second quarter of 2022 that beat both consensus top- and bottom-line estimates. Its GAAP revenues rose by 9% year-over-year to hit $15.5 billion with strong growth at its Red Hat, various consulting services, and hybrid infrastructure offerings being key here. When removing foreign currency headwinds arising from the strong US dollar seen of late from the picture, IBM's non-GAAP constant currency revenues were up 16% year-over-year last quarter. IBM's portfolio optimization efforts are having a very powerful impact on its financial performance.

The firm's GAAP gross margin fell by ~185 basis points year-over-year last quarter, falling down to 55.4%. However, economies of scale helped drive its GAAP income from continuing operations up by 81% year-over-year in the second quarter, rising to $1.5 billion. There is some noise here due to the separation of IBM's legacy businesses (via the spinoff of Kyndryl) from its core operations. Keeping that noise in mind, IBM's underlying operations have performed quite well of late.

During its second quarter earnings call, IBM's management team noted the firm now forecasted that its full-year free cash flows would come in near $10.0 billion in 2022, at the low end of its previous forecast. IBM generated $3.6 billion in free cash flow (defined as net operating cash flow less 'payments for property, plant, and equipment' and 'investment in software') while spending $3.0 billion covering its dividend obligations during the first half of 2022. Its modest share repurchases during this period were related to tax withholding purposes as the new IBM is focused on retaining cash to invest in the business. We appreciate that IBM's dividend obligations remain well-covered by its traditional free cash flows.

The company exited June 2022 with a net debt load of $42.8 billion (inclusive of short-term debt, exclusive of restricted cash). One of the biggest risks to IBM's dividend is its large net debt load. IBM had $7.6 billion in cash, cash equivalents, and current marketable securities on hand at the end of June 2022 which provides the company with ample liquidity to meet its near-term funding needs.

IBM continues to expect that its constant currency revenues will grow decently this year (in the mid-single digit range), though sustained foreign currency headwinds are expected to offset strong demand for its offerings, to a degree. Over the long haul, we forecast that under its new management team, IBM will return to stable revenue growth which in turn should see the company's free cash flows swell higher. That would allow IBM to boost its dividend in a sustainable manner going forward, though we caution that its net debt load could limit the size of any future payout increases.

Dividend Analysis

Table of IBM's Dividend Cushion ratio as derived by Valuentum.

IBM's forward-looking dividend coverage is weighed down negatively by its large net debt load. (Valuentum)

The Dividend Cushion Ratio Deconstruction, shown in the image up above, reveals the numerator and denominator of the Dividend Cushion ratio. At the core, the larger the numerator, or the healthier a company's balance sheet and future free cash flow generation, relative to the denominator, or a company's cash dividend obligations, the more durable the dividend.

The Dividend Cushion Ratio Deconstruction image puts sources of free cash in the context of financial obligations next to expected cash dividend payments over the next 5 years on a side-by-side comparison. Because the Dividend Cushion ratio and many of its components are forward-looking, our dividend evaluation may change upon subsequent updates as future forecasts are altered to reflect new information.

In the context of the Dividend Cushion ratio, IBM's numerator is smaller than its denominator, which suggests weak forward-looking dividend coverage. However, given IBM's strong and stable cash flow profile, we view its forward-looking dividend coverage favorably when considering IBM's ability to tap capital markets into account. Should IBM stumble for any reason, its ability to make good on its payout may be in danger.

IBM's Economic Profit Analysis

The best measure of a firm's ability to create value for shareholders is expressed by comparing its return on invested capital ['ROIC'] with its weighted average cost of capital ['WACC']. The gap or difference between ROIC and WACC is called the firm's economic profit spread. IBM's 3-year historical return on invested capital (without goodwill) is 41.6%, which is above the estimate of its cost of capital of 9.2%.

In the chart down below, we show the probable path of ROIC in the years ahead based on the estimated volatility of key drivers behind the measure. The solid grey line reflects the most likely outcome, in our opinion, and represents the scenario that results in our fair value estimate. Assuming IBM's latest portfolio optimization efforts go as planned, the firm's ability to generate shareholder value (which historically has been impressive) should continue to improve.

Adjusted Return on Invested Capital

Image Source: Valuentum

IBM's Cash Flow Valuation Analysis

Cash Flow Generation

Image Source: Valuentum

Our discounted cash flow process values each firm on the basis of the present value of all future free cash flows, net of balance sheet considerations. We think IBM is worth $136 per share with a fair value range of $101-$171 per share. Shares of IBM are trading moderately below our fair value estimate as of this writing.

The near-term operating forecasts used in our enterprise cash flow model, including revenue and earnings, do not differ much from consensus estimates or management guidance. Our model reflects a compound annual revenue growth rate of 3.4% during the next five years, a pace that is higher than the firm's 3-year historical compound annual growth rate of -10.3%.

Our model reflects a 5-year projected average operating margin of 17.6%, which is above IBM's trailing 3-year average. Beyond Year 5, we assume free cash flow will grow at an annual rate of 2% for the next 15 years and 3% in perpetuity. For IBM, we use a 9.2% weighted average cost of capital to discount future free cash flows.

Valuation Assumptions

Image Source: Valuentum

Valuation Breakdown

Image Source: Valuentum

IBM's Margin of Safety Analysis

Range of Potential Outcomes

Image Source: Valuentum

Although we estimate IBM's fair value at about $136 per share, every company has a range of probable fair values that's created by the uncertainty of key valuation drivers (like future revenue or earnings, for example). After all, if the future were known with certainty, we wouldn't see much volatility in the markets as stocks would trade precisely at their known fair values.

In the graphic up above, we show this probable range of fair values for IBM. We think the firm is attractive below $101 per share (the green line), but quite expensive above $171 per share (the red line). The prices that fall along the yellow line, which includes our fair value estimate, represent a reasonable valuation for the firm, in our opinion.

Concluding Thoughts

The steady decline in IBM's legacy business since 2010 represents a major reason why the firm spun off Kyndryl in November 2021. Going forward, IBM will need to prove that as a leaner and more focused enterprise, it can maintain solid revenue and operating income growth over the long haul. We think that will be the case, though substantial near-term headwinds remain. Investors looking for an income generation idea backed up by a strong cash flow profile should take a closer look at IBM.

Tue, 20 Sep 2022 20:10:00 -0500 en text/html https://seekingalpha.com/article/4542216-ibm-stock-high-yielding-income-generation-idea-worth-look
Killexams : Analysts Estimate IBM (IBM) to Report a Decline in Earnings: What to Look Out for

The market expects IBM (IBM) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2022. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 19. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This technology and consulting company is expected to post quarterly earnings of $1.78 per share in its upcoming report, which represents a year-over-year change of -29.4%.

Revenues are expected to be $13.75 billion, down 22% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has been revised 0.05% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more latest version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP memorizing theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP memorizing is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for IBM?

For IBM, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -6.39%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that IBM will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that IBM would post earnings of $2.29 per share when it actually produced earnings of $2.31, delivering a surprise of +0.87%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

IBM doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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Wed, 12 Oct 2022 04:55:00 -0500 en-US text/html https://www.yahoo.com/entertainment/analysts-estimate-ibm-ibm-report-140002070.html
Killexams : IBM subsidiary Red Hat names new chief operating officer No result found, try new keyword!Red Hat Inc. has named Carolyn Nash senior vice president and chief operating officer. Nash most recently served as the IBM software subsidiary’s senior vice president and chief financial officer and ... Wed, 12 Oct 2022 03:01:00 -0500 text/html https://www.bizjournals.com/bizwomen/news/latest-news/2022/10/ibm-subsidiary-red-hat-names-new-chief-operating.html Killexams : IBM Announces Addition of Red Hat Storage to IBM Offerings

ARMONK, N.Y., Oct. 5, 2022  — IBM has announced it will add Red Hat storage product roadmaps and Red Hat associate teams to the IBM Storage business unit, bringing consistent application and data storage across on-premises infrastructure and cloud.

With the move, IBM will integrate the storage technologies from Red Hat OpenShift Data Foundation (ODF) as the foundation for IBM Spectrum Fusion. This combines IBM and Red Hat’s container storage technologies for data services and helps accelerate IBM’s capabilities in the burgeoning Kubernetes platform market.

In addition, IBM intends to offer new Ceph solutions delivering a unified and software defined storage platform that bridges the architectural divide between the data center and cloud providers. This further advances IBM’s leadership in the software defined storage and Kubernetes platform markets.

According to Gartner, by 2025, 60% of infrastructure and operations (I&O) leaders will implement at least one of the hybrid cloud storage architectures, which is a significant increase from 20% in 2022.1 IBM’s software defined storage strategy is to take a “born in the cloud, for the cloud” approach—unlocking bi-directional application and data mobility based on a shared, secure, and cloud-scale software defined storage foundation.

“Red Hat and IBM have been working closely for many years, and today’s announcement enhances our partnership and streamlines our portfolios,” said Denis Kennelly, general manager of IBM Storage, IBM Systems. “By bringing together the teams and integrating our products under one roof, we are accelerating the IBM’s hybrid cloud storage strategy while maintaining commitments to Red Hat customers and the open-source community.”

“Red Hat and IBM have a shared belief in the mission of hybrid cloud-native storage and its potential to help customers transform their applications and data,” said Joe Fernandes, vice president of hybrid platforms, Red Hat. “With IBM Storage taking stewardship of Red Hat Ceph Storage and OpenShift Data Foundation, IBM will help accelerate open-source storage innovation and expand the market opportunity beyond what each of us could deliver on our own. We believe this is a clear win for customers who can gain a more comprehensive platform with new hybrid cloud-native storage capabilities.”

As customers formulate their hybrid cloud strategies, critical to success is the emphasis and importance of infrastructure consistency, application agility, IT management and flexible consumption consistency as deciding factors to bridge across on-premises and cloud deployments.

With these changes to the IBM portfolio, clients will have access to a consistent set of storage services while preserving data resilience, security, and governance across bare metal, virtualized and containerized environments. Some of the many benefits of the software defined portfolio available from IBM will include:

  • A unified storage experience for all containerized apps running on Red Hat OpenShift: Customers can use IBM Spectrum Fusion (now with Red Hat OpenShift Data Foundation) to achieve the highest levels of performance, scale, automation, data protection, and data security for production applications running on OpenShift that require block, file, and/or object access to data. This enables development teams to focus on the apps, not the ops, with infrastructure-as-code designed for simplified, automated managing and provisioning.
  • A consistent hybrid cloud experience at enterprise levels of scale and resiliency with IBM Ceph: Customers can deliver their private and hybrid cloud architectures on IBM’s unified and software defined storage solution, providing capacity and management features. Capabilities include data protection, disaster recovery, high availability, security, auto-scaling, and self-healing portability, that are not tied to hardware, and travel with the data as it moves between on-premises and cloud environments.
  • A single data lakehouse to aggregate and derive intelligence from unstructured data on IBM Spectrum Scale: Customers can address the challenges that often come with quickly scaling a centralized data approach with a single platform to support data-intensive workloads such as AI/ML, high performance computing, and others. Benefits can include less time and effort to administer, reduced data movement and redundancy, direct access to data for analytics tools, advanced schema management and data governance, all supported by distributed file and object storage engineered to be cost effective.
  • Build in the cloud, deploy on-premises with automation: Customers can move developed applications from the cloud to on-premises services, automate the creation of staging environments to test deployment procedures, validate configuration changes, database schema and data updates, and ready package updates to overcome obstacles in production or correct errors before they become a problem that affects business operations.

“IBM and Red Hat speaking with one voice on storage is delivering the synergies derived from IBM’s Red Hat acquisition,” said Ashish Nadkarni, group vice president and general manager, Infrastructure Systems at IDC. “The combining of the two storage teams is a win for IT organizations as it brings together the best that both offer: An industry-leading storage systems portfolio meets an industry-leading software-defined data services offering. This initiative enables IBM and Red Hat to streamline their family of offerings, passing the benefits to their customers. It also helps accelerate innovation in storage to solve the data challenges for hybrid cloud, all while maintaining their commitment to open source.”

Preserving Commitment to Red Hat Clients and the Community

Under the agreement between IBM and Red Hat, IBM will assume Premier Sponsorship of the Ceph Foundation, whose members collaborate to drive innovation, development, marketing, and community events for the Ceph open-source project. IBM Ceph and Red Hat OpenShift Data Foundation will remain 100% open source and will continue to follow an upstream-first model, reinforcing IBM’s commitment to these vital communities. Participation by the Ceph leadership team and other aspects of the open-source project is a key IBM priority to maintain and nurture ongoing Red Hat innovation.

Red Hat and IBM intend to complete the transition by January 1, 2023, which will involve the transfer of storage roadmaps and Red Hat associates to the IBM Storage business unit. Following this date, Red Hat OpenShift Platform Plus will continue to include OpenShift Data Foundation, sold by Red Hat and its partners. Additionally, Red Hat OpenStack customers will still be able to buy Red Hat Ceph Storage from Red Hat and its partners. Red Hat OpenShift and Red Hat OpenStack customers with existing subscriptions will be able to maintain and grow their storage footprints as needed, with no change in their Red Hat relationship.

Forthcoming IBM Ceph and IBM Spectrum Fusion storage solutions based on Ceph are expected to ship beginning in the first half of 2023.

Read more about today’s news in this blog from Denis Kennelly, general manager of IBM Storage, IBM Systems: “IBM + Red Hat: Doubling Down on Hybrid Cloud Storage“.

Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only. Red Hat, Ceph, Gluster and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.

About IBM

IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service.


Source: IBM

Tue, 04 Oct 2022 12:00:00 -0500 text/html https://www.datanami.com/this-just-in/ibm-announces-addition-of-red-hat-storage-to-ibm-offerings/
Killexams : IBM’s former CEO downplays the importance of a college degree for six-figure earning ‘new collar’ jobs that now make up half of its workers

A four-year bachelor’s degree has long been the first rung to climbing America’s corporate ladder.

But the move to prioritize skills over a college education is sweeping through some of America’s largest companies, including Google, EY, Microsoft, and Apple. Strong proponents say the shift helps circumvent a needless barrier to workplace diversity.

“I really do believe an inclusive diverse workforce is better for your company, it’s good for the business,” Ginni Rometty, former IBM CEO, told Fortune Media CEO Alan Murray during a panel last month for Connect, Fortune’s executive education community. “That’s not just altruistic.”

Under Rometty’s leadership in 2016, tech giant IBM coined the term “new collar jobs” in reference to roles that require a specific set of skills rather than a four-year degree. It’s a personal commitment for Rometty, one that hits close to home for the 40-year IBM veteran.

When Rometty was 16, her father left the family, leaving her mother, who’d never worked outside the home, suddenly in the position to provide.

“She had four children and nothing past high school, and she had to get a job to…get us out of this downward spiral,” Rometty recalled to Murray. “What I saw in that was that my mother had aptitude; she wasn’t dumb, she just didn’t have access, and that forever stayed in my mind.”

When Rometty became CEO in 2012 following the Great Recession, the U.S. unemployment rate hovered around 8%. Despite the influx of applicants, she struggled to find employees who were trained in the particular cybersecurity area she was looking for.

“I realized I couldn’t hire them, so I had to start building them,” she said.

In 2011, IBM launched a corporate social responsibility effort called the Pathways in Technology Early College High School (P-TECH) in Brooklyn. It’s since expanded to 11 states in the U.S. and 28 countries.

Through P-TECH, Rometty visited “a very poor high school in a bad neighborhood” that received the company’s support, as well as a community college where IBM was offering help with a technology-based curriculum and internships.

“Voilà! These kids could do the work. I didn’t have [applicants with] college degrees, so I learned that propensity to learn is way more important than just having a degree,” Rometty said.

Realizing the students were fully capable of the tasks that IBM needed moved Rometty to return to the drawing board when it came to IBM’s own application process and whom it was reaching. She said that at the time, 95% of job openings at IBM required a four-year degree. As of January 2021, less than half do, and the company is continuously reevaluating its roles.

For the jobs that now no longer require degrees and instead rely on skills and willingness to learn, IBM had always hired Ph.D. holders from the very best Ivy League schools, Rometty told Murray. But data shows that the degree-less hires for the same jobs performed just as well. “They were more loyal, higher retention, and many went on to get college degrees,” she said.

Rometty has since become cochair of OneTen, a civic organization committed to hiring, promoting, and advancing 1 million Black individuals without four-year degrees within the next 10 years.

If college degrees no longer become compulsory for white-collar jobs, many other qualifications—skills that couldn’t be easily taught in a boot camp, apprenticeship program, or in the first month on the job—could die off, too, University of Virginia Darden School of Business professor Sean Martin told Fortune last year.

“The companies themselves miss out on people that research suggests…might be less entitled, more culturally savvy, more desirous of being there,” Martin said. Rather than pedigree, he added, hiring managers should look for motivation.

That’s certainly the case at IBM. Once the company widened its scope, Rometty said, the propensity to learn quickly became more of an important hiring factor than just a degree.

This story was originally featured on Fortune.com

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Managing Gen Z is like working with people ‘from a different country’

The Renault Nissan empire once held together by fugitive Carlos Ghosn may slowly be unraveling

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Sun, 16 Oct 2022 06:27:00 -0500 en-US text/html https://finance.yahoo.com/news/ibm-former-ceo-downplays-importance-165139880.html
Killexams : IBM Redefines Hybrid Cloud Application and Data Storage Adding Red Hat Storage to IBM Offerings

The MarketWatch News Department was not involved in the creation of this content.

IBM Redefines Hybrid Cloud Application and Data Storage Adding Red Hat Storage to IBM Offerings

ARMONK, N.Y., Oct. 4, 2022

Newly expanded software-defined storage portfolio enables IBM to deliver a consistent experience from edge-to-core-to-cloud

ARMONK, N.Y., Oct. 4, 2022 /PRNewswire/ -- IBM (NYSE: IBM) announced today it will add Red Hat storage products and Red Hat associate teams to the IBM Storage business unit, bringing consistent application and data storage across on-premises infrastructure and cloud.

With the move, IBM will integrate the storage technologies from Red Hat OpenShift Data Foundation (ODF) as the foundation for IBM Spectrum Fusion. This combines IBM and Red Hat's container storage technologies for data services and helps accelerate IBM's capabilities in the burgeoning Kubernetes platform market.

In addition, IBM intends to offer new Ceph solutions delivering a unified and software defined storage platform that bridges the architectural divide between the data center and cloud providers. This further advances IBM's leadership in the software defined storage and Kubernetes platform markets.

According to Gartner, by 2025, 60% of infrastructure and operations (I&O) leaders will implement at least one of the hybrid cloud storage architectures, which is a significant increase from 20% in 2022.1 IBM's software defined storage strategy is to take a "born in the cloud, for the cloud" approach--unlocking bi-directional application and data mobility based on a shared, secure, and cloud-scale software defined storage foundation.

"Red Hat and IBM have been working closely for many years, and today's announcement enhances our partnership and streamlines our portfolios," said Denis Kennelly, general manager of IBM Storage, IBM Systems. "By bringing together the teams and integrating our products under one roof, we are accelerating the IBM's hybrid cloud storage strategy while maintaining commitments to Red Hat customers and the open-source community."

"Red Hat and IBM have a shared belief in the mission of hybrid cloud-native storage and its potential to help customers transform their applications and data," said Joe Fernandes, vice president of hybrid platforms, Red Hat. "With IBM Storage taking stewardship of Red Hat Ceph Storage and OpenShift Data Foundation, IBM will help accelerate open-source storage innovation and expand the market opportunity beyond what each of us could deliver on our own. We believe this is a clear win for customers who can gain a more comprehensive platform with new hybrid cloud-native storage capabilities."

As customers formulate their hybrid cloud strategies, critical to success is the emphasis and importance of infrastructure consistency, application agility, IT management and flexible consumption consistency as deciding factors to bridge across on-premises and cloud deployments.

With these changes to the IBM portfolio, clients will have access to a consistent set of storage services while preserving data resilience, security, and governance across bare metal, virtualized and containerized environments. Some of the many benefits of the software defined portfolio available from IBM will include:

  • A unified storage experience for all containerized apps running on Red Hat OpenShift: Customers can use IBM Spectrum Fusion (now with Red Hat OpenShift Data Foundation) to achieve the highest levels of performance, scale, automation, data protection, and data security for production applications running on OpenShift that require block, file, and/or object access to data. This enables development teams to focus on the apps, not the ops, with infrastructure-as-code designed for simplified, automated managing and provisioning.
  • A consistent hybrid cloud experience at enterprise levels of scale and resiliency with IBM Ceph: Customers can deliver their private and hybrid cloud architectures on IBM's unified and software defined storage solution, providing capacity and management features. Capabilities include data protection, disaster recovery, high availability, security, auto-scaling, and self-healing portability, that are not tied to hardware, and travel with the data as it moves between on-premises and cloud environments.
  • A single data lakehouse to aggregate and derive intelligence from unstructured data on IBM Spectrum Scale: Customers can address the challenges that often come with quickly scaling a centralized data approach with a single platform to support data-intensive workloads such as AI/ML, high performance computing, and others. Benefits can include less time and effort to administer, reduced data movement and redundancy, direct access to data for analytics tools, advanced schema management and data governance, all supported by distributed file and object storage engineered to be cost effective.
  • Build in the cloud, deploy on-premises with automation: Customers can move developed applications from the cloud to on-premises services, automate the creation of staging environments to test deployment procedures, validate configuration changes, database schema and data updates, and ready package updates to overcome obstacles in production or correct errors before they become a problem that affects business operations.

"IBM and Red Hat speaking with one voice on storage is delivering the synergies derived from IBM's Red Hat acquisition," said Ashish Nadkarni, group vice president and general manager, Infrastructure Systems at IDC. "The combining of the two storage teams is a win for IT organizations as it brings together the best that both offer: An industry-leading storage systems portfolio meets an industry-leading software-defined data services offering. This initiative enables IBM and Red Hat to streamline their family of offerings, passing the benefits to their customers. It also helps accelerate innovation in storage to solve the data challenges for hybrid cloud, all while maintaining their commitment to open source."

Preserving commitment to Red Hat clients and the community

Under the agreement between IBM and Red Hat, IBM will assume Premier Sponsorship of the Ceph Foundation, whose members collaborate to drive innovation, development, marketing, and community events for the Ceph open-source project. IBM Ceph and Red Hat OpenShift Data Foundation will remain 100% open source and will continue to follow an upstream-first model, reinforcing IBM's commitment to these vital communities. Participation by the Ceph leadership team and other aspects of the open-source project is a key IBM priority to maintain and nurture ongoing Red Hat innovation.

Red Hat and IBM intend to complete the transition by January 1, 2023, which will involve the transfer of storage roadmaps and Red Hat associates to the IBM Storage business unit. Following this date, Red Hat OpenShift Platform Plus will continue to include OpenShift Data Foundation, sold by Red Hat and its partners. Additionally, Red Hat OpenStack customers will still be able to buy Red Hat Ceph Storage from Red Hat and its partners. Red Hat OpenShift and Red Hat OpenStack customers with existing subscriptions will be able to maintain and grow their storage footprints as needed, with no change in their Red Hat relationship.

Forthcoming IBM Ceph and IBM Spectrum Fusion storage solutions based on Ceph are expected to ship beginning in the first half of 2023.

Read more about today's news in this blog from Denis Kennelly, general manager of IBM Storage, IBM Systems: "IBM + Red Hat: Doubling Down on Hybrid Cloud Storage"

Statements regarding IBM's future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only. Red Hat, Ceph, Gluster and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.

About IBM
IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries.�?�Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely.�?�IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients.�?�All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit�?�www.ibm.com for more information.

Media Contacts:
Ben Stricker, IBM
ben.stricker@ibm.com

1 Gartner, Market Guide for Hybrid Cloud Storage, Julia Palmer, Kevin Ji, Chandra Mukhyala, 3 October 2022

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Tue, 04 Oct 2022 01:01:00 -0500 en-US text/html https://www.marketwatch.com/press-release/ibm-redefines-hybrid-cloud-application-and-data-storage-adding-red-hat-storage-to-ibm-offerings-2022-10-04-9183120
Killexams : IBM Streamlines Red Hat Storage Products Within the IBM Storage Business Unit

IBM announced it will add Red Hat storage product roadmaps and Red Hat associate teams to the IBM Storage business unit, bringing consistent application and data storage across on-premises infrastructure and cloud.

With the move, IBM will integrate the storage technologies from Red Hat OpenShift Data Foundation (ODF) as the foundation for IBM Spectrum Fusion. This combines IBM and Red Hat's container storage technologies for data services and helps accelerate IBM's capabilities in the burgeoning Kubernetes platform market.

In addition, IBM intends to offer new Ceph solutions delivering a unified and software defined storage platform that bridges the architectural divide between the data center and cloud providers. This further advances IBM's leadership in the software defined storage and Kubernetes platform markets, according to the vendor.

"Red Hat and IBM have been working closely for many years, and today's announcement enhances our partnership and streamlines our portfolios," said Denis Kennelly, general manager of IBM Storage, IBM Systems. "By bringing together the teams and integrating our products under one roof, we are accelerating the IBM's hybrid cloud storage strategy while maintaining commitments to Red Hat customers and the open-source community."

Benefits of the software defined portfolio available from IBM will include:

  • A unified storage experience for all containerized apps running on Red Hat OpenShift: Customers can use IBM Spectrum Fusion (now with Red Hat OpenShift Data Foundation) to achieve the highest levels of performance, scale, automation, data protection, and data security for production applications running on OpenShift that require block, file, and/or object access to data. This enables development teams to focus on the apps, not the ops, with infrastructure-as-code designed for simplified, automated managing and provisioning.
  • A consistent hybrid cloud experience at enterprise levels of scale and resiliency with IBM Ceph: Customers can deliver their private and hybrid cloud architectures on IBM's unified and software defined storage solution, providing capacity and management features. Capabilities include data protection, disaster recovery, high availability, security, auto-scaling, and self-healing portability, that are not tied to hardware, and travel with the data as it moves between on-premises and cloud environments.
  • A single data lakehouse to aggregate and derive intelligence from unstructured data on IBM Spectrum Scale: Customers can address the challenges that often come with quickly scaling a centralized data approach with a single platform to support data-intensive workloads such as AI/ML, high performance computing, and others. Benefits can include less time and effort to administer, reduced data movement and redundancy, direct access to data for analytics tools, advanced schema management and data governance, all supported by distributed file and object storage engineered to be cost effective.
  • Build in the cloud, deploy on-premises with automation: Customers can move developed applications from the cloud to on-premises services, automate the creation of staging environments to test deployment procedures, validate configuration changes, database schema and data updates, and ready package updates to overcome obstacles in production or correct errors before they become a problem that affects business operations.

"Red Hat and IBM have a shared belief in the mission of hybrid cloud-native storage and its potential to help customers transform their applications and data," said Joe Fernandes, vice president of hybrid platforms, Red Hat. "With IBM Storage taking stewardship of Red Hat Ceph Storage and OpenShift Data Foundation, IBM will help accelerate open-source storage innovation and expand the market opportunity beyond what each of us could deliver on our own. We believe this is a clear win for customers who can gain a more comprehensive platform with new hybrid cloud-native storage capabilities."

Under the agreement between IBM and Red Hat, IBM will assume Premier Sponsorship of the Ceph Foundation, whose members collaborate to drive innovation, development, marketing, and community events for the Ceph open-source project.

IBM Ceph and Red Hat OpenShift Data Foundation will remain 100% open source and will continue to follow an upstream-first model, reinforcing IBM's commitment to these vital communities, according to the company.

Red Hat and IBM intend to complete the transition by January 1, 2023, which will involve the transfer of storage roadmaps and Red Hat associates to the IBM Storage business unit.

Following this date, Red Hat OpenShift Platform Plus will continue to include OpenShift Data Foundation, sold by Red Hat and its partners.

Additionally, Red Hat OpenStack customers will still be able to buy Red Hat Ceph Storage from Red Hat and its partners. Red Hat OpenShift and Red Hat OpenStack customers with existing subscriptions will be able to maintain and grow their storage footprints as needed, with no change in their Red Hat relationship.

Forthcoming IBM Ceph and IBM Spectrum Fusion storage solutions based on Ceph are expected to ship beginning in the first half of 2023.

For more information about this news, visit www.ibm.com.


Tue, 04 Oct 2022 02:03:00 -0500 en text/html https://www.dbta.com/Editorial/News-Flashes/IBM-Streamlines-Red-Hat-Storage-Products-Within-the-IBM-Storage-Business-Unit-155227.aspx
Killexams : Former IBM VP Mandy Long Becomes CEO of BigBear.ai

Amanda “Mandy” Long, most recently vice president of information technology automation at IBM (NYSE: IBM), has joined BigBear.ai (NYSE: BBAI) as CEO and a board member.

Long succeeds Reggie Brothers, who will stay as a company adviser and transition to the role of operating partner at BigBear’s private equity owner AE Industrial Partners, the Columbia, Maryland-based company said Tuesday.

Brothers, a two-time Wash100 Award winner, has led the analytics and cyber engineering services company since its founding in December 2020.

Peter Cannito, chairman of the board at BigBear.ai, said Long brings to the company her experience in mergers and acquisitions and software products and expertise in advancing the adoption of artificial intelligence platforms, building technology portfolios and driving revenue growth.

“With Mandy at the helm, we expect to accelerate BigBear.ai’s ability to bring AI-based products to both Commercial and Federal markets as the Company transitions from a premier services and solutions provider to a technology-led, multi-market leader in AI,” Cannito added.

Long spent five years at IBM and held roles of increasing responsibility, including VP of IBM integration and application platform, general manager for IBM Watson health provider analytics and chief product and strategy officer, AI for IBM Watson. She previously served as VP of product management at Modernizing Medicine and Experian Health.

Tue, 11 Oct 2022 21:44:00 -0500 en-US text/html https://www.govconwire.com/2022/10/mandy-long-named-bigbear-ai-ceo-board-member/
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