IBM’s chief: Public not yet buying into ‘smart grid’

Local Tech Wire

RESEARCH TRIANGLE PARK, N.C. – IBM Chairman and Chief Executive Officer Sam Palmisano sees a great deal of potential in “smart grid” technology but also believes the public isn’t buying in to the concept.

Speaking at the GridWise Global Forum in Washington on Tuesday, Palmisano noted

"We collectively haven’t cracked the code on conveying the benefits of [a] smarter energy system to consumers," he said. "Until that happens, the full potential of the smart grid won’t be realized."

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In other IBM news:

• Increased federal regulation in the Dodd-Frank financial reform act threatens IBM’s growth.

Tammy Evans, director of global funding at IBM, said if Big Blue is designated as a “major swap participant” in derivatives it might not be $5 billion of capital that couldn’t be used for acquisitions.

“That equates to a year’s worth of acquisitions and so that would either eliminate the ability for us to go and acquire companies or do some organic growth … and obviously … [have] an impact on jobs,” Evans said at a conference about derivatives.

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• Plus, shares in communications gear maker Brocade (Nasdaq: BRCD) rose Wednesday on rumors that IBM could buy the company.

Barron’s, Briefing.com and TheFlyOnTheWall all reported the takeoverall.

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