IBM to sell assets left over from its past

Article Abstract:

IBM is continuing its efforts to strengthen its bottom line by putting the best pieces from its corporate art collection up for sale at Sotheby's Holdings, a New York auction house. The collection contains 4,500 pieces, of which the top 300 art works are expected to bring in about $25 million when auctioned off in May and fall 1995. The art sales follow a stringent reorganization at IBM that resulted in the loss of 35,000 positions, closed offices and the sale of all corporate jets. IBM's corporate collection was started in 1937 by Thomas Watson Sr and may turn out to have been a good investment. Among the works slated for sale are paintings by landscape artist Alfred Bierstadt, Winslow Homer and Mexican portrait and surrealist artist Frida Kahlo. Sotheby's Latin American art expert speculates that IBM may have paid only about $1,000 or $2,000 for Kahlo's self-portrait, which is expected to fetch about $2.5 million on the block.

Computer industry, Finance, International Business Machines Corp., IBM, Company Financial Information, Company Sales Revenue

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Businessland directors take a loss and transform it into a big gain

Article Abstract:

Directors at Businessland Inc spent $2.9 million buying Businessland stock in Jan and Feb of 1990, just after Businessland reported a 2nd qtr operating loss. Filings with the Securities and Exchange Commission show that Businessland directors bought 408,000 shares at an average price of $7.09 each. This turns out to be a good investment because on Mar 7, 1990 Businessland announced that its feud with Compaq Computer Corp is over, and news that Businessland will once again sell Compaq's computers drove Businessland's stock up 23 percent in one day, to $10.75 a share. James Heisch, Businessland senior VP of sales and services, says the directors did not know about the pending sales agreement with Compaq when they bought shares. They made the purchases, says Heisch, because the stock was undervalued.

Computer and software stores, Officials and employees, Compaq Computer Corp., CPQ, Contracts, Computer stores, Distribution channels, Retail/Reseller Channel, Losses, Distribution Agreements, Second Quarter, Businessland Inc., BLI

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Semiconductor executives cash in some of their chips

Article Abstract:

Executives at Cypress Semiconductor Corp, Intel Corp and Motorola Inc sold shares in their own companies in Oct 1989, part of a strong selling trend in the semiconductor industry among executives. Growing concern about Japanese growth in the semiconductor market and resulting price-cutting for memory products have lowered earnings projections. Analysts report that the US semiconductor industry has slowed due to a slowdown in the product cycle. Software still needs to be developed for the newer, more powerful computers, a factor that is hampering sales. However, executives claim that they are selling securities to diversify their investments, build a house, or pay taxes.

Semiconductors and related devices, Semiconductor industry, Securities, Executives, Sales, column, Trends, Executive, Foreign Competition

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