Big Blues
IBM has had a lot of firsts in its history. One lately isn’t something you are likely to see Big Blue brag about.
In five months, the John Akers-led company has seen its shareholder wealth plunge by a staggering $28 billion as its stock price went into a free fall.
To put that drop into perspective, consider that:
- IBM’s market value plunge alone exceeds the total market value of any public company in California, including oil giant Chevron Corp.
- The drop is nearly $12 billion greater than the market value of BankAmerica Corp., the state’s largest bank.
- IBM’s stock value decline is about 70 times what was spent by all candidates and parties in the presidential campaign.
- The amount is more than four times the net worth of Microsoft founder Bill Gates, the richest American.
Trying To Make Crime Pay
One of Southern California’s most notorious criminals is turning plaintiff in seeking $6.75 million from a company he says owes him the money for exploiting his name and likeness.
Executives at Eclipse Comics in Sonoma County were served with a lawsuit last week filed by “Hillside Strangler” Kenneth A. Bianchi, who is angry that they are selling a trading card featuring him.
Eclipse is a publisher of novelty trading cards, such as one devoted to the savings and loan scandal. The company’s latest and most controversial offering features some of the nation’s most brutal criminals.
Co-owner Catherine Yronwode said the company plans to fight on the grounds that it is protected by the First Amendment. A conference call between the company, Bianchi and the judge is scheduled for March 30, she said.
Bianchi, who represents himself and is now serving a life sentence in Washington state for killing two women there, claims in his lawsuit that there is a “danger of consumer confusion.” Bianchi adds that his “goods” or “products” consist of “his name and likeness, and the effort made for years to establish that mark.”
Time Out
NBC last week said that its coverage of the Super Bowl on Jan. 29 will begin from the Rose Bowl at 3:30 p.m. NYT.
NYT is network jargon for New York time. For those on the West Coast, that means that the coverage will start at 12:30 p.m. PST (Pasadena Standard Time).
As long as NBC is bending the rules in reporting the time, it may soon want to consider using “A.D.” when reporting dates. The letters might eventually stand for “After Divestiture.”
Briefly. . .
Robert Reich, President-elect Clinton’s choice for labor secretary, is officially giving up his biweekly spot as a commentator on radio’s “Marketplace” produced at USC . . . A commemorative coin is being issued to commemorate the commemorative Elvis Presley stamp scheduled to go on sale soon . . . A Vancouver company is selling an environmentally correct “Angelic Sole” shoe it claims is “biodegradable and Satan resistant.”
