Gerstner was dodging and parrying more than blocking and tackling. Talk of a failed employee bid to reinstall IBM's old pension plan dominated this part of the meeting. If we wanted to manipulate compensation at the price of employees, we could reduce salaries. We could cut variable pay. Shareholders uphold IBM pension plan .
Protesters take focus off rebound.
Big Blue reports record revenue . He then speculates on the real reason why IBM slashed pensions and retiree medical benefits, and wonders why a question wasn't asked of Mr. Gerstner at the stockholder's meeting. Part two . Scheme members flood IBM chairman with complaints in surplus row . The multi-million dollar electronics company is facing a revolt by scheme members over its decision to use the surplus from its defined benefit scheme to cover employer contributions into its defined contribution plan.