International Isn't Just IBM's First Name

From Business Week (1/17/2008): "Big Blue has built a global network for client services and in the past three years has hired 90,000 people in low-cost countries."

Of IBM's 375,000 employees worldwide, about 2/3 of them (250,000) are outside the U.S., see the map above (click to enlarge) with a sampling of its global staffing levels. Almost 2/3 of IBM's sales are outside the U.S. as well. How has globalization impacted IBM's profits and share price? Quite well apparently, judging by the 40% increase in its stock price over the last 2 years: