Breaking - Hewlett-Packard Chmn & CEO Resigns

MSNBC ^ | 02/09/2005 | Self

[drt1]

Reporting now - Will provide link to story when it is posted.

[ken21]

oh...boy!

been watching that for years.

yep, the family scion was right. he took out ads in the large newspapers warning stockholders.

the takeover of compaq was not justified.

[smiley]

geezzz...she was on Fox's Neil/Neal Cavoto's show a while back..stating she LOVED her job....what gives????

[drt1]

Beware the Celeb CEO. It usually peaks just before they show them the door. This was a mess from way back - The imbroglio over the Compaq acquisition and the obvious quality problems with their core product lines - Printers.

[rabidralph]

I haven't bought anything by HP since '97. I still have my 820Cs inkjet, which I got in '96, and it works just fine. I just didn't have a good feeling about them since the Compaq merger and then I "discovered" Dell.

[chimera]

I know it. My brother-in-law's brother was one of the ones Carly fixed up by sending his R&D job to Malaysia. As bright as they come, Ph.D. in EE, years and years of experience, patents, publications, the works. Did everything that was asked of him and more. That didn't impress Carly as much as trying to "cut costs" and getting that $10 million bonus from the BoD as a result.

Last I heard he was considering going into training (in his late forties) to be an insurance salesman, and maybe fixing electronic musical instruments on the side to earn a few extra dollars. So much for education and experience. But, hey, that doesn't matter, and shouldn't stand in the way of a few more pennies of profit for good old Carly.

[Sender]

I am still using an old HP LaserJet IIIP at home. It's slower but it's made of steel and ball bearings, not just a piece of plastic with a chip on it.

[jamaksin]

And, lest we forget ... the earlier COMPAQ "merger" with digital never yielded fruit. But that is another story ...

[drt1]

The track record on all of these so-called strategic mergers is mixed at best. Compaq was identified early on as problematic by many but they were steamrolled by Fiorina and look where it got them. IMO another example of Brain Dead Boards.

[killjoy]

This should have happened years ago.

[sd-joe]

>> "IMO another example of Brain Dead Boards." <<

Brain Dead Boards hire Brain Dead Broads.

[KarlInOhio]

From late last month:

http://computerworld.com/managementtopics/management/story/0,10801,99222,00.html?from=homeheads

JANUARY 24, 2005 (IDG NEWS SERVICE) - Hewlett-Packard Co.'s board of directors is considering a plan that would redistribute some of the day-to-day responsibilities of the company's chairman and CEO, Carly Fiorina, to other HP executives, due in part to the board's displeasure with the company's uneven performance, according to a report published today.

Rather than seeking to undermine Fiorina, the board believes that by giving three senior executives more authority, it would enable HP to respond more quickly to customer demands and the increased competition it faces from industry players such as Dell Inc., according to a report in The Wall Street Journal. The Journal article doesn't name any sources, only citing "people familiar with the situation."

She wasn't happy about being eased out.

[curmudgeonII]

Should have happened years ago.

[Fred Hayek]

First Lucent, then Hewlett Packard. Which corporation will Carly wreck next?

[Ragnorak]

The MSNBC article focuses on the fact that she is a woman. She was running the company for over 5 years and the only "accomplishment" they can cite occurred 9 months before she was born?

For the record, I actually like Carly. I watched a number of talks she's given and she has an impressive grasp of the telecommunications industry. But consultants get paid to know their industry and CEO's get paid to not merge with Compaq.

[RayChuang88]

I think the biggest problem with HP is the fact their printer division is suffering from too much competition from Canon and Epson and HP needs to shore up that division to be really profitable again.

[KC_for_Freedom]

HP stock jumps 10% at this event? (At the current time)

[longtermmemmory]

Perhaps we can loan her out to help Dean at the DNC?

[Fred Hayek]

Last year I made the business decision of "No more HP". That goes for both computers and printers. Quality and tech support has gone downhill. At least for computers, all new ones here are going to be Dells. As for printers, well, I'll see when the HP laser breaks. The Dell stuff is a bit more than the HP products, but with a business I need to take into account potential down time.

I had a reconditioned HP Laserjet 4P. Its replacement is a Laserjet 1012. It does have a smaller footprint, goes faster, and does have a relatively simple paper transport - doesn't jam much, and when it does, its easier to clear out than the older design. But the current design is basically a "throwaway". If it really breaks down, discard it and get a new one.

[drt1]

Don't know where she will go but Compaq's ex-CEO, Capellis (Sp?), landed at another paragon of Corporate success, MCI. The market for overpaid failures is large and, apparently, growing so look for her to surface soon and be on TV again.

[chris1]

The problem is that they rip everyone off on the printer cartriges.