CEO Sewing Vows To Invest 25% Of Salary In Deutsche Bank Stock As Selloff Deepens

Deutsche Bank CEO Christian Sewing must be getting pretty desperate.

Two days after unveiling the grand 'restructuring' plan that was supposed to save DB and assuage investors' concerns about the bank, DB stock is back near its all time lows after sliding for two days. The weakness in the shares suggests that either investors are second-guessing Sewing's vision, or perhaps they have simply become desensitized to the troubled German lender's promise.

Regardless of what's driving it, the selloff has prompted Sewing to step in. As a gesture of his commitment to turning Deutsche around, Sewing pledged on Tuesday to invest 25% of his salary in DB stock - effectively pulling a 'Musk' (buying to restore confidence and calm a selloff), albeit on a much smaller scale.

Unsurprisingly, the gesture had little impact on DB shares, which continued to trade lower (though they were off their lows of the session).

Maybe markets would feel better if Sewing promised to take 100% of his compensation in stock.

https://www.zerohedge.com/news/2019-07-09/deutsche-ceo-vows-take-25-salary-stock-selloff-deepens

IBM Completes Red Hat Acquisition in Bid To Become ‘Incumbent Disruptor’

IBM announced this morning it has closed its $34 billion acquisition of Red Hat, which was announced last October.

The pricey deal, which paid Red Hat owners a hefty premium of more than 60%, marks IBM CEO Ginni Rometty’s biggest bet yet in transforming her 108-year-old technology company.

In an interview Tuesday morning, she said some tech analysts have assumed the move to the cloud would lead to a “winner take all” scenario, where one giant platform—Amazon Web Services?—ends up with all the business.

But she believes the IBM-Red Hat combination will be better able to serve big companies that have legacy systems and will inevitably end up using multiple cloud systems, combined with on-premise systems.

“You need a hybrid cloud. You can’t rebuild everything,” she said. Big companies are increasingly coming to the recognition that “hybrid cloud is not a temporary destination, it is the destination.”

For Red Hat, the tie-up with IBM allows it to reach more companies, and to move deeper into those firms.

“If you look at our revenue growth, it has accelerated since the acquisition was announced,” said Red Hat CEO Jim Whitehurst. "We are already seeing confidence from our customers in the power of this in the future.”

Rometty believes the combined power of IBM and Red Hat will empower what she calls “the incumbent disrupter”—big companies that can drive change in their industries, rather than be disrupted by tech challengers.

Whitehurst will become part of the IBM management team. Rometty has committed to allowing Red Hat to run independently.

https://fortune.com/2019/07/09/ibm-red-hat-deal-close/

>>6965586

>>6965670

>Wexner is jewish?

you couldn't figure that out with the name?

wow….

>>6965778

>Obama Presidency Had ‘No Scandal’