Abstracts » Business, general

American Express dismisses top aide in move tied to firing of IBM executive

Article Abstract:

The dismissal of American Express Co senior VP Richard Smith for misusing his position to aid in selling cosmetics is related to the firing of IBM sales executive John Hall, whose purchase of cosmetics from Smith is seen as a conflict of interest. Smith represents Nu Skin International Inc, a direct sales cosmetics company, in addition to his work at American Express. The technology research center Smith oversaw designs and builds American Express computer systems, and Hall was assigned to that center by IBM. Nu Skin is reputed to sell more products to its representatives than they can sell, which has encouraged a pyramid-like sales structure. Hall claims he purchased under $300 worth of products from Smith. There are also allegations of sexual harassment involved with the firings at IBM and American Express, including Hall's. In addition, IBM has lost considerable ground with American Express to Amdahl Corp, whose products Smith praised in a press release.

Prepackaged software, Security brokers and dealers, Misc. business credit institutions, Drugs, proprietaries, and sundries, Cosmetics industry, Financial institutions, American Express Co., AXP, Hall, John, Firings, Conflict of Interest, Smith, Richard, Sales Engineers, Nu Skin International Inc.

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IBM's Grabe quits as exodus at top expands

Article Abstract:

IBM's top US marketing executive, William O. Grabe, is retiring from the company to join a high-tech investment concern. Grabe is the third top IBM executive to leave the company in a two-week period, causing many analysts to wonder if IBM is purposely downsizing its upper management. Some analysts have speculated that Chairman John Akers is trying to eliminate a large portion of upper management in addition to reducing the presence of an aging generation of IBM employees. IBM Senior Vice President George Conrades and C. Michael Armstrong both left IBM recently, not long after Akers announced his retirement plans. Akers will probably select a successor from a group of executives in their forties. Grabe announced that his departure is not related to any reorganization plans at IBM and that the retirement will allow him to pursue a second career as an entrepreneur.

Office machines, not elsewhere classified, Management, Retirement, Reorganization, Resignation, Akers, John, Conrades, George H.

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