Cringeley is spot on and not just about IBM.
Robert X Cringeley wrote: "The lesson in all this – a lesson certainly lost on Ginni Rometty and on Sam Palmisano before her – is that companies exist for customers, not Wall Street. The customer buys products and services, not Wall Street. Customers produce revenue, profit, dividends, etc., not Wall Street. IBM has alienated its customers and the earnings statements are showing it."
This should be part of every company'smission statement. They all seem, at some point, to forget that customers are what keeps the doors open, the lights on, and the bonuses coming in. Yet, they all bow to the stock market like it will save them. They fail to see that Wall Street is concerned about what comes into their pockets and not how it got there. When a company loses it's customers and ends up being picked apart by the vultures, Wall Street moves on to the next victim. IBM is just a speedbump in Wall Street's money grab.