Since March 2013, the Dow Jones average has risen 84% (14,578 to 26,805), the NASDAQ has risen 222% (3,267 to 10,515), and IBM stock has dropped 39% (212 to 129). And yet no exec has been fired.
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IBM can be kicked out of the Dow. It has happened before. When that happens, IBM stock will go down even more, because all of the Dow-based funds will have to sell it off.
This is what concerns the street in addition to the doubling of debt Why Ginni deserved bonuses when this was happening is beyond dereliction of duty via the board
https://www.mbiconcepts.com/comparing-goodwill-the-intangible-financial-asset.html
And IBM is in the Dow. Without IBM's drag the Dow would be even higher.