[stevehawk]

it seems like IBM's future is in divesting itself of a handful of profitable things as one organization.. then selling the IBM name to that organization.. and bankrupting the 'original' organization. otherwise they'll have one big anchor around their neck in perpetuity.

[dralley]

The opposite. New IBM is focused on cloud and hybrid-cloud, whereas NewCo is everything else (consulting, legacy software).

Although I believe mainframes are sticking with IBM. Those are still quite profitable, and you could imagine a "mainframe cloud" for clients that are still dependent on them.