Short Takes

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By Newsweek Editors

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Last month IBM's stock hit a two-year high. So far this year its shares have risen by a whopping 21 percent. Time to jump on the bandwagon again? IBM has come a long way since Lou Gerstner Jr. arrived last year. But some analysts say that a good dollop of the company's success reflects Gerstner's cost cutting. Thus, investors may be better off waiting. As Laurie Hays of The Wall Street Journal points out, "The most difficult phase of IBM's comeback effort lies ahead." . . . Latest trend in company benefits? Kwasha Lipton workers bring their dry. cleaning and shoe repairs to work. Other firms are offering babysitter referrals, oil changes and even housecleaning, says Hewitt Associates' Kathy Collura.

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