Return Engagement
By David Kirkpatrick and Devin Leonard

(FORTUNE Magazine) - IBM's Cell Division

When IBM (Research) announced in February that it would put its Cell processor chip--the brain inside Sony's (Research) PlayStation 3--into servers for ordinary business customers, it was the first fruit of a next-generation computing project called Quasar. The servers are the leading edge of what will become a wave of Cell-type systems from Big Blue. IBM did not say publicly what it had told employees the week before: It has reorganized its hardware system division in part around this new type of computer. The new TCS group will also include the chip-manufacturing business as well as systems development work for outside customers. -- David Kirkpatrick

Hank Fights On

A year after AIG (Research) parted ways with CEO Maurice "Hank" Greenberg amid a scandal over alleged accounting improprieties, the insurer has agreed to pay $1.6 billion to settle charges leveled by New York Attorney General Eliot Spitzer and New York Insurance Department Superintendent Howard Mills ("All I Want in Life Is an Unfair Advantage," Aug. 8, 2005). The settlement doesn't cover Greenberg, who's made it clear he plans to fight tooth and nail. In a recent trade magazine interview, he argued that investigations like the one that led to Spitzer's suit undermine America's efforts to spread democratic values abroad. That may be a stretch, but it tells you something about how he sees himself--as an unjustly besmirched victim of an overzealous prosecutor with political ambitions. Expect him to dip into his multibillion-dollar fortune to paint this portrait of Spitzer in court. -- Devin Leonard Top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.