As Washington continues to skate perilously close to the economic abyss, 3,000 miles away in Cupertino, California, this week Apple released its results for the second quarter. To no one’s surprise but to almost universal amazement, Apple managed to sell more iPads (9.3 million) and iPhones (20.3 million) than ever before. Quarterly revenues of $28 billion were up more than 80% from last year, and profits were up 125%.
Read moreIBM and the New American Multinational
The wreckage of the financial crisis is producing many warnings that globalization is dead, as trade and investment slow. Nothing could be further from the truth. In fact, global companies have rarely been in a stronger position, and if you want to get a sense of where such businesses are heading, look no further than IBM.
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