IBM Turns 100
adeelarshad82 writes "On this day in 1911, IBM started as the Computing-Tabulating-Recording Company (C-T-R). It wasn't until 1924 that the company changed their name to IBM. Needless to say that a 100-year milestone is quite the feat. While some of us might know IBM for its recent "Jeopardy"-playing Watson computer, a look back shows that IBM has a long history of innovation, from cheese slicers (yes, really) and the tech behind Social Security to the UPC bar code and the floppy disk. One of the most notable leaps of faith IBM took was in 1964 with the introduction of System/360, a family of computers that started the era of computer compatibility. To date the company has invested nearly $30 billion in technology."
Let's not forget helping the Nazi's round up undesirables!
IBM and the Holocaust
IBM and the Holocaust on Wikipedia
From TFA:
The company invested $5 billion in [system/360], about $30 billion today, but the gamble paid off.
Summary is wrong.
Except that the $30 billion is just what they invested in researching and developing the system/360. Summary is wrong.
Also, most of the $700 Billion of that bailout were loans that have been paid back. There's still a ludicrous about of wasted money, like the $200 million that a bankers wife took, and then deposited in a bank, and reaped the interest! But in general, it was a short term loan to keep the economy moving. And it worked. Get over it.
You seem to be confusing 'hype' with 'innovation' if you think it was led by Microsoft and Apple. There is a reason that there were basically 2 PC architectures - Apple, and (wait for it) 'IBM PC Compatible'. One of those completely swamped the other.
You might want to check out whose systems are behind almost any financial transaction you process. At the other end of the scale, you might want to check out whose processors are in every XBox/360, PS/3, and Wii.
Maybe you have a GPS - want to take a guess on whose semiconductor (SiGe) technology is in there?
where IBM kept in contact with its Switzerland headquarters, was in trouble several times with the government for dealing with 'blacklisted' countries, the strings it pulled to get around those limitations, and one of whose officials was denied entry into the US after the war.
and then there are the ways that the subsidiaries, after the war, were brought back into the fold of IBM, along with all the profits they had reaped from their wartime experiences, which were meticulously recorded.