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Monday, Monday, So Good to Me
IBM bought PricewaterhouseCoopers' consultancy (aka Monday Ltd) on Tuesday for $3.5 billion cash and stock. The move advances IBM's ambitions to transform itself from a vendor of hardware and software into a provider of IT consulting-on-demand.
PWC's decision to sell may have been influenced by the political brouhaha raised over its Monday plan, which included moving the unit's headquarters to Bermuda, a lower-tax environ.
DC politicians have been debating various ways to prohibit such movements by multi-nationals, though this debate has so far not included the option of bringing US corporate tax rates into line with the lower rates offered by many other countries.
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