Executive issues cost us and therefore we are making immediate management changes.
Carl blamed a series of internal missteps for the shortfall, which Carl called "unacceptable". Carl immediately fired three top executives.
Fact is the poor performance reflected deeper problems raised by HP's $19 billion purchase of Compaq two years ago.
For the real issues, read Walter Hewlett's letter to shareholders against the then $21 billion M&A.
You are right. IMHO, HP's business didn't suffer much, except for the distracted leadership (Carly & staff).
Remember, Wall Street HATED the merger. HP dropped down to $10.75 just before the vote.
Had the Hewletts & Packards won, the stock would have recovered up to its level of over $25 almost immediately, & Carly would likely have departed.
The stock is drifting down to that level again. Clearly, investors have lost faith in Carly.
Every couple of quarters one division or another has "execution" problems. The significant drop on Thursday, and the additional drop on Friday, indicate a complete loss of confidence in Ms. Failurina.
Maybe Hackborn can rally the board one or two more times, but it HAS to come to an end soon, or HPQ is toast in the market. As I've said before, Carly couldn't lead a group of vampires to a blood bank.
I would love to see the H & P families rejoin the board & again become involved with the company. HP deserves much better than what it's been getting from Carly the last 5 years.
I entered all the fields, including my name and added the number of shares I own.
The screeners should be able to cross my name to the shareholder's registration list.
Why should anyone lie on the form?
�^� �(���)� �^�
In other cases, some coveted managers felt HP's slow-moving management style didn't adopt enough of the aggressive Compaq personality. "In the beginning, there was a feeling that Compaq was making a difference in the HP culture," says a former HP executive, who came over from Compaq. "But things started to slow down a bit again."
Now you get it. The merger with Compaq was supposed to aid in firing those 10's of thousands HP-lifers and get the compaq uppity up mgmt style.
Walter is a dinosaur, along with Platt.
"...read Walter Hewlett's letter..."
No, you summarize it and make your point, or else recede. I'm not going on any goose stepford wife hunt hear, pal. You clowns never get to the point that would let us know whether you're actually an idiot or not.
Calling Hewlett-Packard a "great company," Hewlett urged shareholders to reject the merger, arguing that it had already negatively affected the value of HP and would do nothing to improve the company's future prospects.
If the merger were to be successfully completed, HP shareholders would see their share of the company's valuable imaging and printing business diluted and their risk in the high-stakes, low-margin world of consumer PCs increased, Hewlett wrote. Such a move, he said, would leave HP a weaker company than before the merger.
Further, he argued, the merger would not significantly improve the company's standing in the more profitable high-end server market, nor boost its consulting business.
Hewlett also cited previous mergers between computer companies that did not pan out, including AT&T's acquisition of NCR and Compaq's purchase of Digital Equipment.
"The complexity of putting two companies together, in a difficult economy, when each company is currently undergoing its own transition, presents daunting challenges and unacceptable risks," Hewlett wrote of the HP-Compaq proposal.
Change of Focus
In place of the merger, HP "needs to focus on what it does well, and to change and grow organically, with targeted tactical acquisitions--a strategy that has proven to be successful in the technology industry," he wrote.
"In some respects," Hewlett wrote, "Hewlett-Packard was in need of a wake-up call and the reaction to this proposed merger has certainly provided one."
When announced in early September 2001, the marriage of HP and Compaq was valued at $25 billion. Negative Wall Street reaction to the deal, however, sent both companies' share prices down and devalued the merger. If the deal goes through, as many as 15,000 employees could lose their jobs as a direct result
It's true that acquisition is a short term risk, but to eliminate any further dillution as the digital express moves in, she was forced into the buyout. She's looking long term, and any just evaluation of the past few years puts her firmly emplaced in my mind as a visionary.
You're just another petty patriot, the scoundrel who finally hides behind the flag, shielding himself from further egging.....oh the humanity!
BTW You're supposed to fire your top executives who exposed themselves as looking at the short term gains the competitors are making and using greener pastures as an excuse to scatter a little manure on this side.
Go back to lusting after Maria B.
Go see CNBC.
It's must lust T.V.
Yes, must-lust t.v! Just for you over fifties who need a little something, no matter how impetuous, to get through the day, "all day, and all of the night, girl, I want to be with you, i never wanna leave by your side, you really got me....." no, that's not it, how does that song go?