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China's Lenovo Group Ltd. (0992.HK) won clearance from a U.S. national security oversight committee to acquire IBM's (NYSE:IBM - news) personal computer business, the companies said on Wednesday, overcoming resistance from some U.S. lawmakers
The merger of the IBM PC business with China's biggest PC maker -- the first combination ever of a major U.S. company and a top Chinese one -- will create the world's third largest PC maker with roughly $12 billion in revenue and one strongly positioned in several fast-growing markets.
The deal had met unexpected resistance when some U.S. lawmakers began decrying the loss of a U.S.-based PC maker to China. In addition, some government officials, according to media reports, were concerned that Chinese nationals working for Lenovo in the United States might act as industrial spies.
/quote]
NOw they will not even have to steal out technology, they have purchased it. This is going to mean a loss of jobs in America for IBM and related pc companies, because they will be able to produce and again EXPORt at an incredibly cheap price.
one last thing...
Asked if IBM could retain U.S. military and other national security agencies as PC customers, Ward said there were no restrictions on the new Lenovo and it would be free to do business with U.S. government agencies. "We can do business with anyone we want to do business with," he said.
Is this the beginning of the end???
esdad
acquire one of the largest computer/research companies in the world by acquiring IBM.
I was looking at the fact that OUR technology is now theirs
In addition, some government officials, according to media reports, were concerned that Chinese nationals working for Lenovo in the United States might act as industrial spies.
Faultline would like to put forward another explanation of why IBM's PC business is suddenly up for sale, one that we haven't yet seen proffered in the various publications that have covered the news in the last few days.
IBM is effectively clearing out its unprofitable PC business, so that it can go into the PC chip business with its Power 5 chips. It can hardly sign up Hewlett-Packard and Dell as Power 5 customers while it competes head on with one of their primary businesses, and by selling off its PC division it takes away much of the friction with these two organizations.
Cell chip coming soon
Big news coming -- a radical high-performance, ultra-miniaturized parallel processing chip is about to go mainstream in a variety of consumer devices, giving Intel some serious competition...
Semiconductor designers from International Business Machines, Sony and Toshiba will reveal on Monday the inner workings of a “supercomputer on a chip” they claim could revolutionise communications, multimedia and consumer electronics.
In addition, some government officials, according to media reports, were concerned that Chinese nationals working for Lenovo in the United States might act as industrial spies.
Originally posted by esdad71
news.yahoo.com.../nm/20050309/tc_nm/tech_ibm_lenovo_dc_8
China's Lenovo Group Ltd. (0992.HK) won clearance from a U.S. national security oversight committee to acquire IBM's (NYSE:IBM - news) personal computer business, the companies said on Wednesday, overcoming resistance from some U.S. lawmakers
Seems that textile exports are up and now they are going to acquire one of the largest computer/research companies in the world by acquiring IBM.
The merger of the IBM PC business with China's biggest PC maker -- the first combination ever of a major U.S. company and a top Chinese one -- will create the world's third largest PC maker with roughly $12 billion in revenue and one strongly positioned in several fast-growing markets.
The deal had met unexpected resistance when some U.S. lawmakers began decrying the loss of a U.S.-based PC maker to China. In addition, some government officials, according to media reports, were concerned that Chinese nationals working for Lenovo in the United States might act as industrial spies.
/quote]
NOw they will not even have to steal out technology, they have purchased it. This is going to mean a loss of jobs in America for IBM and related pc companies, because they will be able to produce and again EXPORt at an incredibly cheap price.
one last thing...
Asked if IBM could retain U.S. military and other national security agencies as PC customers, Ward said there were no restrictions on the new Lenovo and it would be free to do business with U.S. government agencies. "We can do business with anyone we want to do business with," he said.
Is this the beginning of the end???
I guess it was this quote and the approval of an gov't National Security oversight comittee that made me wonder
Originally posted by esdad71
oh, we will find a way to link the French sminkey, only a matter of time
To everyone else not taking this seriously, consider this:
Flip it around. Would Canada, Germany, Britian, China, Japan, etc... etc... allow the bulk of one of their top 3 companies in a particular manufacturing field... to be moved overseas? The answer is NO!
Originally posted by itmg
To everyone else not taking this seriously, consider this:
Flip it around. Would Canada, Germany, Britian, China, Japan, etc... etc... allow the bulk of one of their top 3 companies in a particular manufacturing field... to be moved overseas? The answer is NO!
In Canada's case they were going to let China Minmetals buyout Noranda which is Canada's largest mining company but then the negotiations became public there was out cry by many people as well as many people in government. Just think if the negotiations never became public.