While IBM has clearly had several disappointing quarters, we believe that services, Freeway, storage and microelectronics offer promising opportunities.

They just can't get going on all eight cylinders. It's always something that just doesn't seem to click.

Based on IBM's overall strong market position in services, software and components, and the outlook for more favorable growth, we believe the shares deserve at least a market multiple and possibly a slight premium.

I'm a goof, man.

You don't know what bravery is until you overcome fear.

Karl Johnson, my first piano player at Milt Trenier's, he just swung really hard and gave me a sense of really belonging to the jazz scene.