IBM Corp. spent $1.2 million and software giant Oracle Corp. paid $1.1 million to lobbyists in the first quarter, attempting to influence interests from patent concerns, international trade and immigration law, to tax loopholes and government health care legislation.
Among other agencies, Redwood Shores, Calif.-based Oracle lobbied the U.S. Congress, the Department of Defense (DOD) and the Department of Homeland Security. Oracle spent the same amount on lobbying efforts last year, while Armonk, N.Y.-based IBM spent almost $600,000 less. IBM targeted the U.S. Congress, the Department of Commerce (DOC), the Department of State, the Securities and Exchange Commission (SEC), the National Security Council (NSC) and other federal organizations.
Oracle has a major industry hold in application and database software, and recently entered the computer server market after acquiring Sun Microsystems last year for $7.3 billion.
For the latest quarter ending on May 31, Oracle’s earnings increased 36% to $3.21 billion with an increase of revenue up 13%, totaling $10.78 billion.
IBM has shown considerable expansion in emergency international markets while its U.S.-based workforce continues to suffer cuts. However, the company’s earnings show a solid track and increased 10% to $2.9 billion in the first quarter with revenue shooting up 8% to $24.6 billion.
IBM’s disclosure of lobbying interests shows international concerns such as income tax issues with China, Korea, India and Brazil; trade issues with China concerning minerals, and the importing and exporting of sensitive products such as security-based encryption technologies.
In IBM’s centennial year, tech insiders are speculating whether or not CEO Sam Palmisano will step down as he approaches his 60th birthday, which is typically when previous CEOs have stepped down.
Lobbyists must disclose activities that may influence members of Congress and the executive branch since the introduction of a federal law in 1995.
Would you like all your dreams to come true? Follow Marc Speir on twitter @truthorcon.
