IBM

The culture amongst IBM's engineers is one of collaboration and cooperation. I really liked that primary communication was done through chat, not email, and that engineers were generally immediately helpful in getting others unblocked. Combine that with the fact that the engineering core is highly competent, very driven, and runs a broad range of experience levels, and you have a very efficient and effective work environment.

IBM's executives have been gutting the company to keep an earnings-per-share promise from a decade ago. US workers continue to be laid off in big chunks, replaced with cheaper labor in China and India. Furloughs have also become commonplace, meaning that their otherwise middle-of-the-road compensation is actually below market averages.

Their intent to unburden themselves of their hardware holdings is quite clear despite their clumsy attempts at veiling that "secret", which means that the remaining loyal workers are facing an uncertain future.

Get out while the getting's good. Earnings-per-share can only be propped up for so long by the company eating itself. Eventually, the remaining senior engineers will pack it in and take their institutional knowledge with them. The cheaper labor force will not be able to cope, much less maintain high production standards. Programs will falter, schedules will slip, and earnings-per-share will take a dive.

The share price will drop like a rock when investors recognize the free lunch is over. In a panic, the executives will start dumping entire programs overboard, starting, as it always does, with middle-management.