This Chart Clears Up Carly Fiorina’s HP Record
Is Fiorina responsible for the demise of HP?
Thrust into the national spotlight thanks to Wednesday night’s GOP presidential debate, everything about Carly Fiorina is under the media’s microscope. Much has been said about Fiorina’s job record, particularly her tenure at Hewlett-Packard. Fiorina was fired from HP in 2005, a fact her opponents love to mention.
The Washington Post reported:
Fiorina got a taste of that new scrutiny before the debate had even ended Wednesday night. When her business record came under attack during the event, there was a spike in Google searches for “Carly Fiorina fired” and “Carly Fiorina fired why.”
Fact-checkers quickly challenged her familiar assertions that, under her leadership, HP “doubled the size of the company, we quadrupled its top-line growth rate, we quadrupled its cash flow, we tripled its rate of innovation.”
The main force driving the higher numbers was Fiorina’s decision in 2001 to merge HP with rival company Compaq. It was a controversial move — one that Dell founder Michael Dell dubbed “the dumbest deal of the decade” — and helped lead to her ouster.
There are also certain to be reminders of the 30,000 layoffs that occurred at HP on her watch. But none of this comes as a surprise to Fiorina, who clearly has been preparing for the onslaught and faced similar fire when she ran unsuccessfully for the U.S. Senate in 2010 against incumbent Barbara Boxer (D-Calif.).
During the debate, Trump taunted her: “I only say this — she can’t run any of my companies. That I can tell you.”
Her rejoinder was to bring up the four times that Trump’s companies filed for bankruptcy: “You ran up mountains of debt, as well as losses, using other people’s money.”
As Justin Fox of Bloomberg Politics points out, that Fiorina wasn’t the best CEO in corporate history is simply fact.
But how much of what happened at HP was Fiorina and how much was reflective of the industry at the time?
Assessments of her 5 1/2 years in charge of tech giant Hewlett-Packard are everywhere these days, most of them negative. Fiorina herself offered a less-than-convincing defense in Wednesday night’s debate — yes, the company’s revenue doubled during her tenure, as she said, but that was mainly because she made a gigantic and controversial acquisition.
That $19 billion purchase of computer maker Compaq was the signature move of Fiorina’s time at HP. It occasioned a revolt led by HP director Walter Hewlett, son of company co-founder Bill Hewlett. It brought criticism from Wall Street and sniping from rivals. Scott McNealy of Sun Microsystems called it “a slow-motion collision of two garbage trucks.” Michael Dell of Dell Computer said it was the “dumbest deal of the decade,” a doomed attempt to “copy IBM.”
Fiorina was trying to copy IBM, or at least give HP the scale and breadth to compete successfully for corporate clients against Big Blue. Before the Compaq deal (announced in 2001, completed in 2002), she made a run at PricewaterhouseCoopers’s consulting business, only to blanch at the $18 billion price tag. After the deal she got HP into information-technology services in a big way, running IT departments at Procter & Gamble and hundreds of other companies.
Bloomberg compared stock performance of HP with Sun, IBM, and Dell. The results are telling:
“So, no, Carly Fiorina was not the greatest CEO in corporate history. But she certainly wasn’t the worst, either,” wrote Fox.
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One of those things that people often don’t get is that the worth of a corporate leader isn’t to be found in how much they augmented the value of a company, but in how much they prevented the decline in the value of a company.
That chart shows the latter, during a time when tech firms WERE going to decline in value.
Wrong as usual.
What? You can’t read a chart?
What a lying liar!
The author of that Carly hit-piece you keep flapping around has a long history of animosity towards her. Not sure he’s the dispassionate, disinterested observer he’s being made out to be.
Jeffrey Sonnenfeld, Lester Crown Professor at the Yale School of Management, confirms Donald Trump’s characterization of Carly Fiorina’s tenure at Hewlett Packard…
She says, ‘oh, technology was off’. Apple was up three-fold then, Dell was soaring…Google and Facebook were launched, and Xerox turned around and was up 75%.
HP was in great shape when she got there, and she left it in tatters. Virtually everything she bought has either been shuttered or…now divested in.
She basically says she’s done nothing wrong, but, in fact, her performance was terrible. What did she learn? She’s never gotten a CEO job 10 years since– what does that tell you? She was on the board of Taiwan Semiconductor. They threw her off. She only showed up for 17 percent of the meetings!
On Fiorina’s claims that Sonnenfeld is a Clintonite…
” No, I think Paul Begala and Jim Carville and Mark Penn and the rest of the actual Clintonites will be very amused, and I don’t know where to send my invoices. :”
He’s had a grudge against her for years. Any hit-pieces he writes about her have to be taken in that light.
Since there are many other experts and about 300,000 HP employees who also say Fiorina was a huge failure and not a nice person to boot. I don’t think any grains of salt are required.
But Gary (lying liar), you DON’T speak for ANY of those people.
There are LOTS of people who speak very well of Mrs. Fiorina.
This is just you being a T-rump true believer and ThoughtPoliceman.
Rags (the school boy man/child), The members of the boards of directors of the 500 fortune 500 companies all speak for themselves, and they have all spoken througout the 10 years since Fiorina was FIRED by HP that NONE OF THEM WANT FIORINA TO COME AND DO FOR THEIR COMPANIES WHAT SHE DID FOR HP.
If you want their names just start googling.
No job offers for 10 years and fired from the semiconductor board of directors. That is a stinging rebuke of a failed and fatally flawed CEO (Fiorina).
None of those are CEO positions AMY. Almost all are NOT fortune 500 companies. NONE are executive authority positions except possibly some small charities. And the semiconductor board of directors position cited was the one from which she was FIRED.
The fact is that no fortune 500 company in the last 10 years has ever asked Fiorina to come be their CEO and do for their company what Fiorina did for HP.
Res ipsa loquitur.
Your original claim at 2:26pm was that “10 years after having been fired by HP no other company has offered to hire her.”
And that simply isn’t true, GARY.
Honestly, do you think we can’t read or something? We’re not the ones who are challenged in that regard.
Gary (lying liar) and demonstrated business moron…
The S&P 500 only have a few tech firms that are not already headed by their own people, and most of the 500 would not be in Fiorina’s wheelhouse. Would they?
How do you know that nobody has made her an offer?
Post your links proving that nobody has tried to hire her.
“Today, the merger is nearly six years old. And, surprise, surprise—it’s turned out to be a sensational combination, whether measured by market share, market leadership or increased shareholder value.” —Ben Rosen, non-executive chairman of Compaq from 1982-2000
“There were plenty of skeptics to the bold actions taken by HP. But history has a way of straightening out the facts and the noted opinions of outside experts. The merger of HP and Compaq was an unqualified success.” —Former Intel chairman Craig Barrett in a San Jose Mercury Times op-ed
So, I’ll take the views of inside-the-industry leaders who were NOT heirs or disaffected employees of a “warn and fuzzy” corporate culture.
Amy. It isn’t your reading that is the problem it is your comprehension that is challenged.
Carly Fiorina’s time at Lucent Technologies would probably be of more interest to her detractors, than HP where the market ran the company.
Lucent was a worse disaster than HP – under her leadership, they were cooking the books, making bad loan/sales and created a debt bubble like the housing bubble that caused Lucent to crash.
Her foreign deals at HP cost the company 107 million in fines.
Carly circumvented the Iran sanctions to sell to Iran.
The same year she laid off 30,000 HP workers, she bought a million dollar yacht and five corporate jets on HP’s dime.
The workers were replaced as time went on, but jobs went to immigrants.
US doesn’t need another dishonest, narcissist, RNC political tool candidate or leader.
Mrs. Fiorino’s largest donor is Univision former CEO.
HP announced a layoff over the next year of 10% of it’s 300,000 workers.
That’s right, HP is laying off another 30,000 workers, while lobbying for more H-1B visas. You’d think if these foreign worker were so integral to HP, they would use O-1 visas, based on special talent.
You’re pretty much regurgitating Senator Boxer’s (D-CA) 2010 attack ads verbatim.
Truth is truth even if it comes from democrat Boxer.
“Craig Barrett, chief Common Core pusher in AZ and Board member/ Chairman of Achieve Inc., the Common Core standards architects, hosted a private fundraiser for Carly Fiorina in AZ on 9/10/15 according to the Maricopa County Republican Committee (MCRC) Briefs.
According to Carly for America News, Fiorina also brought on former AZ gubernatorial candidate, and former Mayor of Mesa, Common Core loving Scott Smith to her campaign as our state’s co-chair.
Scott Smith had the dubious distinction of being the only GOP candidate in the last election cycle to openly support Common Core. Even though he had the support of Gov Jan Brewer who installed Common Core in AZ, Scott Smith’s campaign crashed and burned.”
More astroturfed copypasta.
It should be noted here that around the start of the chart, SUN was described as “the new DEC.” DEC was Digital Equipment Corporation that was a tech darling in the 80’s and 90’s but disintegrated and was sold off the Compaq, Intel, Cabletron, Oracle and Quantum (among others).
Ultimately, SUN was bought by Oracle, which had heavily invested in the SUN platform.
Fortune Magazine: Carly Fiorina As A Boss: The Disappointing Truth
Fired in 2005, after six years in office, several leading publications titled Fiorina one of the worst technology CEOs of all time.
In 1999, a dysfunctional HP board committee, filled with its own poisoned politics, hired her with no CEO experience, nor interviews with the full board. Fired in 2005, after six years in office, several leading publications titled her one of the worst technology CEOs of all time. In fact, the stock popped 10% on the news of her firing and closed the day up 7%.
Arianna Packard, the granddaughter of HP’s founder, commented when discouraging voters from supporting Fiorina in her 2010 senatorial run, “I know a little bit about Carly Fiorina, having watched her almost destroy the company my grandfather founded.”
Sure, she doubled revenues—through a massive, ill-conceived, controversial acquisition of Compaq Computer in 2002—but Fiorina did nothing to increase profits over her five-year term, with the S&P 500 showing net income across enterprises concomitantly up 70%. Furthermore, shareholder wealth at HP was sliced 52% under her reign against the S&P, which was down only 15% in that bearish period. She modeled the old joke of “making it up in the volume.”
The lost shareholder wealth and lost strategic direction at HP are only part of Fiorina’s legacy. Also lost during her reign were 30,000 U.S. tech jobs, the company’s revered employee morale, and the egalitarian, humble HP way culture. A new defensive, finger-pointing style of leadership led to waves of firing. Dissent was equated with disloyalty as discovered by Walter Hewlett, a board member and son of HP’s co-founder, when he questioned Fiorina’s misguided Compaq acquisition strategy and refused to be bullied into a board statement of unanimous consent, suffering legal and personal threats.
Full Article With Video’s http://fortune.com/2015/08/14/carly-fiorina-president-2/
10 years after having been fired by HP no other company has offered to hire her. That says it all about what the business community thinks of her CEO capabilities. If she were any damn good at all, somebody would have offered her a job over the last 10 years. The people who worked with her also know she has a huge mean spirited vindictive petty nature that only barely showed during the debate.
“10 years after having been fired by HP no other company has offered to hire her. That says it all about what the business community thinks of her CEO capabilities. If she were any damn good at all, somebody would have offered her a job over the last 10 years. The people who worked with her also know she has a huge mean spirited vindictive petty nature that only barely showed during the debate.”
That’s a lie, and you’re a liar.
Absolutely true, and you can stomp your feet and hold your breath and offer all the other childish school yard statements for which you are well known, but it won’t change the fact that Fiorina sucked the big one as a CEO and as a person. Nobody has offered her a job since. It took a real woman CEO in Meg Whitman to rescue HP from her failures, and her biggest achievement at HP was to suck off $100 million dollars into her own pockets while firing 30,000 HP employees.
Keep it up Gary. The employees at HP hated her during her tenure. Her demeanor then was similar to what you see now. You’re on the right track.
After her post HP CA Senate race failed, Fiorina moved to Virginia to work for the RNC.
She announced her candidacy first on the Bill Maher show. (which says a lot).
And T-rump…with the ability to live anywhere…has chosen to live in New York City, crony CENTRAL.
What does THAT tell YOU?
That Rags is an infantile cry baby of limited intellectual capacity and insufficient cognative abilities.
You were schooled on this. You CHOSE to repeat your lie after the information was provided you.
Nope. Your schooling can be found on the pages of Fortune Magazine among others:
Fiorina: One of the worst tech CEO’s in history.
You STILL persist in your LIES. She has been hired. She DOES have a history of success.
You’re just so enthralled by T-rump, you’ll tell any lie you think advances your little yellow god.
Fiorina has never been hired or even offered a job as CEO of any other company. At least not any that doesn’t operate out of somebody’s basement in their parents home.
Now hold your breath and stomp your feet some more.
You literally have no evidence of Carly never being offered the CEO role of another company. The fact is that she has served, and continues to serve, on numerous boards and has been the chair person for charities. It is more than likely she has been offered positions and has declined to pursue other opportunities.
Did HP go through some tough times while she was CEO? Certainly.
However, had she not lead the Compaq merger it’s entirely possible HP would be irrelevant today or could just be out of business.
Fortune Magazine says she was never offered another CEO job in the last 10 years. No person with her ego and having suffered the public humiliation of being so publicly fired for poor performance at HP would have ever turned down another CEO job at a major company so she could have the chance to redeem her reputation. The facts speak for themselves. It is incredulous to believe that when offered a chance to redeem herself by becoming CEO of another major company she would not have taken it or made the offer and declination a public event.
It really is JUST THAT SIMPLE.
Wow, Gary (lying liar), you REALLY did exhaustive research!
Negatively. All you can do is keep throwing that same bullshit from “Fortune”.
Which is DIRECTLY contradicted by the chart that heads this article.
AND you keep chanting your NOW MODIFIED lie!
Not modified. Clarified so Rags and Amy wouldn’t confuse an offer of a paper route job with something relevant to the principal assertion.
I’m not the one who has to lie to try to support T-rump.
That would be YOU.
Do Trump fans’ keyboards contain any keys other than Ctrl-C and Ctrl-V?
Anyway, that one was debunked last time you posted it here.
I’ve never posted such a statement here or anywhere before. You should more completely start up your mind before engaging your keyboard. Not debunked at all. Fortune Magazine knows and confirms she was never hired as CEO of any company after being FIRED for gross incompetence and just plain gross unpleastantness from HP. The voters in California got a chance to fully vet and consider her management skills or lack thereof in 2010. She was weighed and measured by the voters and found to be WANTING.
You’ll make little baby Jesus cry :`(
Forgot about that one. You are correct I did post something similar recently.
That’s just not true.
Imaginary conversation with a Hillary supporter/Obamabot.
H/O: Fiorina was a failure at HP.
Response: What did Obama fail at before he became president?
R: What did he attempt? Was he even qualified for such a position at the time of his candidacy?
The fact is that Fiorina has the chops to actually run a high-tech company, and Obama had nothing of the kind when he was a candidate for the presidency. You can’t fail at something when you’re not even qualified for the position in the first place.
You mean she’s proven to have the chops to run two companies into the ground as CEO. First Lucent that didn’t survive and then HP which fortunately was able to survive.
Apparently, the chart that accompanies this article escaped you completely.
It’s clear to see that many people view the use of corporate debt which eventually defaults as a disqualifying experience. So when do we talk about Trump’s four bankruptcies?
“Shut up, RINO! Or I’ll shout ‘JEB!’ at you and run away!”
Not Trump. Corporations in which he retained an interest after starting them.
The first four Trump corporate bankruptcies were when he was in total control. Granted the fifth one was a corporation that just had his name on it.
Great to drop by an ostensibly conservative blog to see a passionate defense of Fiorina mounted using using carefully selected snippets from the Washington Post and Bloomberg Politics.
Anything for the Carly Cause, I guess.
What’s really adorable is the Trumpalos and Trumpalettes regurgitating Barbara Boxer’s lame Democrat attack ads from 5 years ago.
When do you move on to quoting Carly’s ex-husband and Frank’s ex-wife telling us what an awful person that awful Carly is?
So, Gary Britt (lying liar), besides his own oft insolvent and several-times bankrupt crony capitalist holdings (despite the fact they are like owning a mint), what major corporation has offered to hire Duh Donald as CEO?
What organization with “conservative” in its name has he headed?
When did he serve on a CIA board?
When did he defend Sarah Palin after she was picked as vice-presidential candidate?
See if you can find another broke-dick “Fortune” piece.
Rags you are correct that Carly is a RNC Bush establishment creature. Appointed by Bush to a committee and employed by the RNC establishment after he poor management skills at HP got her trounced in 2010 election. I agree with your points that she has BUSH and republican establishment stooge credentials.
The problem is being a BUSH republican establishment stooge is NOT A SELLING POINT to the GOP base.
Trump’s accomplishments as a CEO speak for themselves and need no defense from me or anyone.
Got it. You’re too chickenshit to answer the questions.
Rags, your behavior is so consistently juvenile and childish I find it hard to believe that you managed to finish coloring all your “law books” while supposedly in law school.
And you are so consistently a lying coward and fool, I can’t imagine you not being beaten to death by civic-minded passers-by.
You must be the luckiest bastard alive.
So threatening when you are talking only to yourself and computer screen. I suggest that next time you try the one that goes “I’m rubber and your glue..” That suits your personality far better. LOL
Your behavior is so consistently juvenile and childish I find it hard to believe.
Oh, and lying and cowardly. Especially.
“When did he defend Sarah Palin after she was picked as vice-presidential candidate?”
But when did Palin defend Trump? Why it was only last week after Hugh Hewitt tried to trip him up with foreign policy questions.
She said she’d rather have a president who is tough and puts America first than can win a game of Trivial Pursuit. And she’s been on other news shows, touting him. Sarah is a Trumpette! But Carly has you, so I guess that evens it out.
That’s not to say Carly isn’t tough too — tough enough to show Bill Clinton what she thought of him as president. During her tenure, HP diverted hundreds of millions of dollars of HP printers and other computer products to Iran, ignoring Clinton’s executive orders not to ship American products in response to Iran’s support for international terrorism and pursuit of weapons of mass destruction. It was one of the few profitable deals she made at HP; and she learned a valuable skill in the process she can use in the future: deniability!
More lies from our Moby Troll!
Who thinks that Bernie Sanders is “reasonable”, and Conservatives are what’s wrong with America!
Little wonder that he’s a supporter of Duh Donald.
Point to the lie, cowgirl.
“Carly has you, so I guess that evens it out.”
That is a lie, right there.
I’m a Cruz supporter, as you know, you lying SOS.
Mrs. Palin ALSO supported McAnus in his most recent re-election bid, and she supported Romney.
Can’t count? You said ‘lies’ plural.
And then came up with a non-lie.
I didn’t say you favored her over anyone; but she “had you” as in a fawning apologist defending her qualifications. That’s not even a half lie.
“Sarah is a Trumpette! But Carly has you, so I guess that evens it out.”
See? You even lie about your lies.
I DO and WILL defend candidates from liars (you), character assassins (Gary Britt), and mean bitches (who know who they are).
Just like with Zimmerman so long ago. AND I’ll rightfully criticize them, just like Zimmerman so long ago.
You lying SOS.
Trump Increases His Lead After CNN Debate; Carly Takes A Chunk Out Of Carson’s Poll Numbers For Herself
Read it and weep, RINO-Huggers… (Carly Is A DC Establishment Wannabe, Islam Hugger, PC Police Captian And Corporate Failure, IMO)
Well! Look what the cat dragged back in! Welcome back, Felicia!
I see the same RINOs are still here.
This is just a drive-bye. Thought the hate-squadies could appreciate something else to bitch about.
Oh honey, I know. There’s nothing more humiliating than flouncing off in a huff, then wishing you hadn’t made such a big dramatic scene about it, then wondering if there’s a way you can sneak back quietly and maybe no-one will remember…
My departure from supporting this blog has not changed.
My enjoyment of watching flailing haters hasn’t changed.
Flail away, snowflake.
You “supporting” this blog has proven tots superfluous.
Take a minute, and tell us the difference between…
Trump and Sanders on free markets, AND…
Trump and Reid and Pelosi on campaign finance reform.
Wake up, will you. It’s ILLEGAL IMMIGRATION, stupid.
The VAST majority of Americans who will vote in the next Presidential Election don’t give a rat’s ass about theoretical arguments about campaign finance reform and free markets. Only you and the Lefty policy nerds will be arguing that: two tiny political minorities who will cancel each other out!
A Hopalong Cassidy quote for you: “Keep riding sidesaddle like that, hombre, people are gonna think there’s something strange about ya.”
We all totally get you can’t answer the questions, and you have to deflect and PRETEND you give a rat’s ass about anything good for America.
Statism v. freedom is not about theory, you lying SOS. And we do know which side of that divide you fall on.
People like you are the reason Evolution provided us with middle fingers…
For you, I use my forearm.
I’m not a CEO; no one has or will offer me hundreds of millions of dollars to run a company, whether into the ground or into the stratosphere.
That said, I enjoy the theater; Fiorina appears to me very much like Nurse Ratched in Cuckoo’s Nest: very nice on the outside, smiles to all the staff and visitors who all think she’s just wonderful; but to those under her thumb, she’s a monster worse than Godzilla who enjoys her power.
She speaks well, made some excellent points, esp. with the PP speech (which seemed very rehearsed to me) but qualities such as humor, ability to take a joke, kindness or gentleness… no, I didn’t see that. I saw a brittle humorless ramrod, who has answers for everything except why her companies failed. Oh, sorry: her companies failed because of the market, and others. Not her fault!
Does she have any friends?
I don’t know about friends but Fiorina’s got a clique of worshipers and a small choir of True Believers right here
Carly Carly Carly
You’re our favorite CEO
At Lucent and HP
You support the Dream Act
Anchor Babies its a fact
We’re praying daily, please beat Donald Trump!
I agree Eskyman. Just look at that face.
Very ally cat! Wrrrrrowaaa.
Another Nugget For The Emotionally Distraught Trolls
Donald Trump Compares Carly To A Robot
I compare Carly To A Watered Down Mr Data… All Data; No Emotion
What a robot.
What a bitch.
What An Evil Face, Carly Has…
Love that big, fat baby head…!
Separated at birth?
I don’t give a damn about the stocks or peoples printers.
I ran compaq proliant servers before the takeover. bulletproof with good support.
afterwards same damn models were crap and support was a higher priced joke.
good luck getting someone that spoke english too.
we put a lot of money into dell servers after that (not my decision but anything was better than the hp proliant at that point) and I know quite a few other large businesses went away from HP for some time.
wasn’t until 2006 or so the proliants started to really shine again.
Trumpers & Trumpettes: Really…? Seriously…? The Donald for President of the United States of America?? In this vastly dangerous time?? Really…? Seriously…?
Some Basic Pathology demonstrated over and over and over by Trumpy: Malignant Narcissisim. King Baby on steroids. Infantile Defiance. High Chair Pounder extraordinaire. One God for this moral midget: Donald. One Value System for this blathering punk: Donald. Nothing but a vast appetite.
Trumpers & Trumpettes: Really…? Seriously…?
“Some Basic Pathology demonstrated over and over and over by Trumpy: Malignant Narcissisim. King Baby on steroids. Infantile Defiance. High Chair Pounder extraordinaire. One God for this moral midget: Donald. One Value System for this blathering punk: Donald. Nothing but a vast appetite.”
The perfect combination of psychological traits for president of the US in these troubling times. Who better then a narcissistic self centered semi irrational leader in a world led by Putins and Aylatolahs, and malignant ISIS terrorists and North Korean Dictators with Elvis haircuts. Maybe just maybe he’ll cut the Gordian Knot of sluggish bureaucratic inaction to real immigration reform and overturn the 1965 Immigration Act and reinstate visa quotas for individual nations, so that my descendants won’t have to Push One For English.
I’d rather have a chair pounder as president for at least one term, so when they hear “Here’s Trumpy” an image pops into their head of Jack Nicolson in the Shining, and not James Stewart in Mr Smith Goes To Washington.
So, you’d LIKE an admitted pathological personality (the NEXT one) to have a pen, a phone, and an axe!
Could there be a more revealing exposition of how you “think”?
Me, I’ll take a principled conservative. Which you would hate, because you think conservatives are what’s wrong with America.
But Bernie Sanders is “reasonable”.
jayjerome66…A clear and perfectly stated ‘Tell’/Reveal of your presidential hopes. You’re air-pounding with fist in approval of all the Donald pathologies that I find abhorrent and, for a president in this VASTLY Dangerous World, inhabiting a separate planet from us Character Respecting/Conservative Principles Championing Earth Dwellers.
CHARACTER MATTERS in our next Chief Exec. MORE Then Ever.
Carly was awful at HP. The stock price was down, but it was much worse than that. HP was a high profit company in unique markets when Carly took over. She ruined that by merging (with Compaq) into commodities to beat IBM (her words). Yet, at the same time she was trying to “beat IBM”, IBM was leaving the low margin commodity PC business. Carly never had a clue. I hope she does better as a politician.
Former Hewlett-Packard Board Member Backs Fiorina
Tom Perkins was a member of the Hewlett-Packard board that fired CEO Carly Fiorina in 2005, but he now calls that move a “mistake” and defended her actions in a full-page ad in The New York Times on Thursday.
This misrepresentation again.
Tom Perkins a founding partner of the firm KPCB, Over the last three years and in particular in the last year KPCB has been involved in a lawsuit with Ellen Pao. A lawsuit that, even though KPCB was right and won easily, has given KPCB, a firm located in the liberal heart of California, a major blackeye with feminists.
Right now, Tom Perkins will do anything he can to get back in the good graces of feminists,
OH, that is just what we need. A failed CEO whose claim to fame was she “… wasn’t the worst,” God help us !
And WHO is Jason Fox? And why should we take his word for anything.
And here is another bee for your ear – Scaldy said Donald Trump filed for bankruptcy not once, not twice, but four times. Donald said out our hundreds of deals I filed 4 times, I used the law, I had a responsibility to my family, my company and my employees. I wonder how many of those 30 thousand + HP employees would have thanked God for a Donald Trump solution rather then a every man for themselves Fiorina solution.
The nasty thing about those firings,Carly had been pushing emplyees on austerity measures: delay pay raises, forgo bonuses, etc … so she wouldn’t have to fire them. She fired them anyway.
Affectionately known as ‘Chainsaw Carly’ at HP for all the cuts and firings.
Sounds like a promising recommendation to those of us who want to see government put back where it belongs, and the drones who feed off us put into honest work!
AMEN, Rags..!! A*M*E*N..!!
Do you want to see the other half off Carly’s accomplishments applied to the US? A 50% reduction of the value of the dollar?
Before Carly was anti Hillary, she was pro Hillary
Kemberlee if Stephanopolis has to learn to not to trust Vox you have to learn not to trust Bloomburg Politics,
The PWC acquisition was to compete with IBM. The Compaq merger was to compete with Dell. At the same time Carly was looking to double down on PC’s IBM was busy selling it’s PC division to Lenovo. Guess IBM knew something that Carly didn’t.
The PWC acquisition was supposed to be for $14 billion not $18 billion. Later IBM acquired PWC for $4 billion. Great little negotiator our Carly. The reason it didn’t happen was that Wall Street really reacted negatively to it and it turned off the board.
Carly was never unhappy with the price.
Carly it seems really like mergers and acquisitions, and the tech communities believe they know why. CEOs are never fired in the middle of a merger or big acquisition. They are job security and Carly was already feeling the heat.
Further the two m/a attempts show a very confused mindset. First she tries to take HP into the software service sector, then she decides to take it into the low margin commodity hardware sector. The polar opposite. Yeah sounds liked she knew what she was doing.
As for the graph, it is a lie. Or more properly a “figure” in the sense sense that a seargent I used to know would say: “Figure’s don’t lie, but liars sure can figure.”
It is all embedded in the subtle insertion of Sun. Sun never made any laptops, furthermore it did make a sort of PC, but not the kind that you would find on your typical businessman’s desk. Instead they started with a kind of PC called a workstation, a sort of souped up PC used for specialized applications. Like engineering or financial analysis applications. Later they went into making small to medium sized servers. On top of it Sun at the time was making a transition from a hardware company to a software company. In fact at the time at least 80% of Suns sales were for legacy systems.’
Comparing Sun to the other companies would be like comparing a California vintner to three French vintners. Or more appropriately comparing a California vintner that is making a transition to a grape juice making company.
What is more it is important that thye include Sun in particular. See that 200% peak? They really need it. It causes the scale to shrink so that IBM, Dell look to be preforming very similar to HP. Without it, you would see that IBM and Dell were doing much better then HP.
That peak is pecular to the tech industries. It is due to the release of Java a couple years earlier. Until the hype died down Java was seen as a way for managers to do without Windows.When the hype did die down, Sun’s price returned to normal.
“You look back now, and Carly was right—there was a lot of synergy between the two companies. The merger worked out well in retrospect.” —Tommy Wald, CEO of White Glove Technologies
“In retrospect, yes, it was a good move for HP and for the partner community. I was wrong, and I’m glad they proved me wrong.” —Don Richie, CEO of Sequel Data Systems
“I think it was a fantastic move. I thought it was a fantastic move at the time, too. HP would definitely not be where it is today without Compaq.” —Geoffrey Lilien, president of Lilien Systems
“The merger turned out to be a good thing … There were some administrative headaches, of course, but overall they did a very good job with the integration.” —Jane Cage, COO of Heartland Technology Solutions
You are so willing to trash other people for offering opinions on the law but not being a “lawyer” like you, but then you are so willing to offer your expert advice on tech. So what do you base your “expert” advice on?
BTW why didn’t you bring out the opinions of heavy hitters in the industry. You know like Peewee Herman or maybe your green grocer.
Rags is not a lawyer but he likes to play one on Legal Insurrection.
Your point about Sun’s inclusion in the graph causing a distortion in the graph’s appearance is spot on.
Really, Gary (lying liar)?
SO, YOU graph the performance of the companies SANS Sun, and see what YOU can demonstrate.
How does any of that negate the CEO opinions that I’ve posted directly contradicting your SINGLE hatchet job from “Fortune”?
(Pro-tip: it doesn’t. And your broke-dick attempt to smear Fiorina is an apparent failure!)
BTW, my law degree was taken under a joint JD/MBA program, and I most certainly AM a practicing attorney.
You are most certainly a liar.
Mouse, as usual, you’re just confused.
I don’t pretend expertise on “tech”.
I just posted the opinions of several tech CEOs.
Apparently, you can’t deal with that, so you attack me.
Didn’t you complain about ‘cherry picking’ recently?
And here your are, engaging in it yourself.
The preponderance of opinions from people with expertise on the Carly-HP imbroglio is that she was a screw-up who during her tenure screwed down HP stocks and profits and reputation.
“The preponderance of opinions from people with expertise…”
A straw man worthy of your hero, Pres. ScamWOW.
Heartland Technology Solutions
between 50-200 employees.
Geoffrey Lilien, president of Lilien Systems
You didn’t think you needed to check out a company named after the owner? Half the one person consulting companies out there call themselves by their owners names. You didn’t think you needed to check this company out first?
It just goes tpo show how far down the bottom of the barrel you have to scrape to find someone in the tech industry to say something good about Carly.
So, Mouse, all you’ve got is ANOTHER ad hominem attack on people MUCH smarter than you?
“Today, the merger is nearly six years old. And, surprise, surprise—it’s turned out to be a sensational combination, whether measured by market share, market leadership or increased shareholder value.” —Ben Rosen, non-executive chairman of Compaq from 1982-2000
“There were plenty of skeptics to the bold actions taken by HP. But history has a way of straightening out the facts and the noted opinions of outside experts. The merger of HP and Compaq was an unqualified success.” —Former Intel chairman Craig Barrett in a San Jose Mercury Times op-ed.
See, all you’ve done is smear anyone who…knowing THEIR field MUCH better than you do…confirms the FACT that HP was set up for the success it enjoyed by the Fiornia era.
Or were you ever in upper management of a tech company?
Ben Rosen, the acting CEO of Compaq who was a big part of the merger? Ow wow. Big surprise that he says it was great.
Craig Barrett, Chairman off Intel a major parts supplier to both HP and Compaq and a partner in the development of the very expensive Itanium with HP? Very trustworthy source.
Rags you are not a lawyer. Your behavior here clearly demonstrates that you are at best an dysfuntional 8th grader using his mommy’s computer without permission.
The real Carly Fiorina, buying yachts, private jets and tripling her salary while shipping jobs overseas. Trump wants to bring jobs back to America Carly likes to ship them overseas.
Sen. Barbara Boxer lashed out at Republican presidential candidate Carly Fiorina on Friday, saying that the woman she defeated in 2010 is a “mean-spirited,” failed business leader who cared more about enriching herself than about working Americans.
“Here is a woman who ran against me in the worst year Democrats ever had and we won in a landslide because the people of California didn’t want her to do to the country what she did to Hewlett-Packard,” Boxer said. “She’s the face of income inequality and the face of corporate greed…. She makes Mitt Romney look like a Democrat.”
Here is the Video on Fiorina and HP
You use a Barbara Boxer example on this blog to make your case against Fiorini!!! You ignorant SOB and low life. As far as Fiorini being wealthy – good for her. That’s what capitalism is all about. A Republican losing a race in California? Good God you are a stupid and clueless man. With all sincerity, and coming straight from my heart: F-U!
Gasper you don’t have a clue what capitalism is all about if you think it is about a failed CEO tripling her pay buying yachts on HP’s books and several jets on HPs books all while sending 30000 usa jobs overseas or to the dust bin. Fiorina’s biggest accomplishment at HP was grabbing 100 million for herself while running the company and its profits into the ground.
That pally is NOT capitalism. Capitalism rewards high achievers NOT high losers like Fiorina.
Seriously I don’t give a F* what you think.
“Trump wants to bring jobs back to America….”
Yes. Just like Bernie Sanders, and using the same instrument: BIG GOVERNMENT. That NEVER works.
Governments don’t create jobs. All they can do is create the climate where jobs will naturally be provided by MARKETS.
T-rump and Obama BOTH like the fascist economic model of crony capitalism, which is the natural enemy of entrepreneurial capitalism…THE generator of new jobs.
Rags and you know these things because of how well the policies you support have worked to maintain the USA’s thriv8ng manufacturing sector.
Maybe its time to try something else.
The beauty of Trump besides his election destroying the GOP establishment RINOs is that like Reagan he will be able to pull support from both the GOP and some traditional democra5s like some union members, hispanics, women, etc.
No, you unprincipled, slavish hack.
I know them because I have a good working knowledge of economics and business.
But, aside from the pragmatic KNOWLEDGE that I have that free markets work BEST for middle-class people, and tend to raise the standard of living for EVERYONE while using resources MOST efficiently…
I ALSO know that YOUR way is evil, and robs ordinary people of their right to choose.
See, I like freedom and liberty.
PLUS, you moron, American manufacturing is doing quite well. Or did you just swallow that load that T-rump shot?
See if you can find someone to read that to you S-L-O-W-L-Y, and translate the purdy pictures into words you’ll understand.
LOL. Yes Ragsy you have a solid understanding of the current state of our economy and the state of man7facturing jobs in the USA. It is really working so good that it is hard to believe anyone wants to vote out the democrats or establishment RINO leaders of the GOP why change when manufacturing and jobs are going so great as you say.
You just proved you can’t read, or will openly lie about factual data.
I expected no better. You’ve been doing it all through this tread. It’s just who you are.
“You ignorant SOB and low life”
Professor Jacobson – you assured me you were going to stop these kinds of personal attacks here.
Wm F. Buckley snide sneers and ridicule are fine; but ignorant SOB and low life?
So? Are you going to follow through or not?
If he is, you’ll be the first to go, troll.
“Mom! Rags is picking on me!”
Put on the bifocals, Henry.
It wasn’t me being picked on,
Or RagBrain doing the picking this time, an exception to the rule.
I thought it would be the F-U. Want to make an argument? Quoting Boxer – “call me Senator, not ma’am is never going to be an intelligent argument on a conservative blog. Never underestimate ignorance, including your own for not recognizing that.
Gasper your writing and expressed thought processes make it clear that you should be an expert on ignorance. “Physician heal thyself”.
By following Legal Insurrection, I learned that the way to “clear up” the record of a Republican candidate is to turn to unbiased beacons of conservatism like the Washington Post and/or Bloomberg Politics.
“Into the tank we’ll jump
“Anything to beat Donald Trump
Next week: Guest Columnist Elmer Gantry clears up why anyone voting for a gambling house owner is on the Road to Perdition in “Cleared Up! Carly Saves Souls!”
Why, DaMav, you pillar of hypocrisy, you!
YOU have quoted approvingly from the WaPo. And WORSE.
But most of those of us who think will take facts and sound opinion where we find them. Even from your “Conservative” Tree Sloughs.
We just insist on critical thinking, which is WHY some of are not tongue-bath bois for Duh Donald.
His positions are market economics line up nicely with Bernie Sanders, and his position on campaign finance reform is identical to those of Nanny Pelosi and Harry Reid.
Some of us LIKE our Constitution!
Brutha’ Rags: I call it…The unaccustomed Torture of exposure to Thought.
I’m quite certain I have never sole sourced liberally biased sources to “clear up” allegations by conservatives, even as a commenter.
(Remainder of your juvenile rant and name calling ignored.)
Sure you have! THAT’S exactly what you’ve done! Whadda hypocrite!
And I note you CANNOT deal with the truthful statements I made WRT your little yellow god!
Fiorina is an establishment RINO as was demonstrated by her association with the Bushes and RNC.
There is a reason Fiorina shows up on lists of the Worst CEOs Of All Time (See here, here, here, and here among others) and it’s not because the whole business world is engaged in some kind of conspiracy to portray her as an incompetent.
So, Fiorina’s a failed CEO and it would be more accurate to call her an “establishment favorite” than an outsider, but at least she’s a hardcore conservative, right? Well….not so much. Here’s Redstate on Carly Fiorina back in 2010.
From her praise of Jesse Jackson, to her playing the race and gender cards against DeVore, to her support for the Wall Street bailouts, to her qualified support for the Obama stimulus, to her past support for taxation of sales on the Internet, to her waffling on immigration, to her support for Sonia Sotomayor, to her Master’s thesis advocating greater federal control of local education, to her past support for weakening California’s Proposition 13, to her statement to the San Francisco Chronicle editorial board that Roe v. Wade is “a decided issue,” Carly Fiorina’s oft-repeated claim to be a “lifelong conservative” was only plausible in the universe of NRSC staffers who recruited her in the first place.
…She endorsed Federal funding of embryonic stem-cell research for “extra” embyros.
She endorsed the California DREAM Act, which grants in-state tuition to illegal immigrants.
She refused to endorse California’s Proposition 23, which suspends the job-killing AB 32 climate-change law.
Fiorina also strongly supported Marco Rubio’s amnesty plan that even he claims not to back anymore, endorsed cap & trade and attacked Ted Cruz for being willing to shut down the government to stop Obamacare.
How do you trust Fiorina on immigration, small government issues, taxes, pro-life issues, global warming or to even try to kill Obamacare after that?
Nobody said she was Mrs. Conservative, Gary (lying liar).
But most, if not ALL, of the things (and more and more recently) you’ve laid against her can be said of your little yellow god, Mr. Establishment.
One, you smear.
The other you vaunt.
You have no credibility.
She is a big government Bush establishment RINO which you claim to hate. Get your mommy to explain the meaning of hypocrite to you.
So, just like your little yellow god.
Making racist slurs, huh.
You going to call him a hebe next?
Hey, there’s some guy in the Commenters’ Lounge just read your post and he’s frothing at the mouth, sucking his thumb, and calling people names. Maybe he’s allergic to the truth? Oh wow, he’s headed for the keyboard!
Yeah little Ragsy is about to crap his pants as his posts are getting more and more frantic and juvennile.
It seems Carly Fiorina is always listed among the worst CEOs of all time. Sorry Rags you lose again. Ask mommy for some warm milk.
You must have been able to find a bsNBC citation, too.
How ’bout Mother Jones?
Where’s that graph SANS Sun?
Note, you business moron, the DATES on the pieces you throw on this thread.
My citations to TECH industry CEOs are rather more topical, and certainly less stilted by Collectivist hate. Read the CBS piece, and you’ll see what I mean.
What a pathetic, lying liar.
Yeah little Ragsy you cite a couple of one man consulting operations handling windows help desk support and a former compaq executive who got more rich off of Fiorina’s over paying for compaq stock of which he undoubtedly had plenty. Very persuasive to you but the jury ain’t buying it.
People with obvious, virulent prejudices never make it to sit on a jury.
So, you really have no idea, you unprincipled hack.
More bad news for Ragsy. Morning consult poll of republicans who watched 2nd debate has Trump leading pack at 36%
Trump continues to lead the Republican primary field. Thirty-six percent of registered voters who watched the debate said they would choose Trump, compared with 12 percent for Carson and 10 percent for Fiorina. Rubio placed fourth, at 9 percent, followed by 7 percent for Sen. Ted Cruz (R-Texas) and 6 percent for Bush and New Jersey Gov. Chris Christie (R).
I’ll just remind you that Rick Perry had the same position and very similar numbers in the run-up to 2012 about this same time.
You’re getting your butt kicked.
It couldn’t happen to a more deserving deceiving deceptive deceiver.
Wrong as usual Ragsy. Perry numbers folded by his second debate. Trump has been in two debates and his numbers still climbing. Media spent 24 hours hyping the liberal RINO Fiorina and then spent 2 days doing all Trump not correcting Obama muslim guy which will just make Trump more popular. The MSM are so brain dead.
I can’t tell whether you’re actually an habitual and deliberate liar, or you’re just not very bright.
In any case, your claim is (once again) simply not true.
Here are the dates of the GOP debates leading up to the 2012 primary. Here are the polling numbers for the lead-up to the 2012 primary. As you can see, Perry didn’t fall out of first place until early October, by which time there had already been 6 debates. And interestingly, it was Huntsman (who?) and Cain (remember him?) and Gingrich who spent the rest of the year trading top position.
You may be an dedicated and enthusiastic Trumpeteer, but psephology would not appear to be your strong suit. Or honesty. One of those.
Po’wittle Garums. All of Trumpy’s infantile defiance with none of the $$-Money. Sad.
Holman Jenkins pointed this out in the WSJ weeks ago (sans chart).
Here’s my take on Carly: She made a decision. She made it work (despite fervent opposition). Good qualities in a leader, no?
Now you folks want to play historian — was her decision the best (or worst) for HP at the time? OK, tell us what other options HP had. Tell us why you think one or more of these other options would have led to a better outcome (as I recall, HP was facing a bleak future at the time — as was the rest of tech, and the only other proposal for HP was to spin off their printer business).
I opposed the HP/Compaq merger at the time — but I knew and loved the old HP culture (no, I never worked there). In retrospect, Carly made the right decision (IMHO).
There are only two problems with Fiorina: what she has done in the past, and what she promises for the future. An inspection of those is a reminder of where she got started: in sales. She may offer an irresistible pitch. But creating a good product? That demands a skill set she isn’t known to possess.
During her time as CEO of Hewlett-Packard, its stock plunged 52 percent — double the drop in the Nasdaq average, and worse than her competition, including Dell, IBM, Oracle and Microsoft. The company repeatedly whiffed on her financial targets. In the end, Fiorina got cashiered. More telling, perhaps, is that in the decade since, no corporation has hired her.
This picture contrasts starkly with her 1999 arrival at Hewlett-Packard, where, according to The Wall Street Journal, “she was greeted as nothing less than a savior.” When she was fired, the Journal noted that Fiorina “had a flair for marketing and public speaking” and “a compelling public persona” but “was a highly polarizing figure who stirred deep animosity among many veteran employees.”
That’s Fiorina in a nutshell. What was obvious to anyone who watched the debate is what Businessweek noted when she took over HP: “Carly Fiorina has a silver tongue and an iron will.” The rest, however, is fool’s gold.
I worked as a technology architect under Carly at HP. I worked for HP since the mid 1980s and truly loved the company and had the utmost respect for Bill and Dave, the founders.
HP was changing for worse before Carly came on board. In her defense, HP’s board was a hot mess and IMO and that of others, hired Carly to be the first “Female CEO” instead of the best CEO they could find. As bright and energetic as she was, she was far from ready to lead such a company – especially in such difficult times.
I saw her attempt to remake HP in her image. She changed the name from “Hewlett-Packard” to “HP”. She removed photos of Bill Hewlett and David Packard from every HP site, replacing them with pictures of her.
I worked on the Compaq acquisition which, more than anything, diluted the HP culture, replacing it with.. nothing. Carly appeared to replace the HP managers who disagreed with her with managers at Compaq to such a degree that it seemed more like Compaq was acquiring HP than vice-versa…
As much as I respect her intellect and abilities as a speaker/debater, I cannot vote for her. I do not think she is ready to be president and will not the strong conservative America desperately needs.
Why I Still Think Fiorina Was a Terrible CEO
She can diss me all she wants on live TV, but personal attacks won’t take her from colossal business failure to leader of the free world.
By Jeffrey Sonnenfeld
September 20, 2015
Here are the facts: In the five years that Fiorina was at Hewlett-Packard, the company lost over half its value. It’s true that many tech companies had trouble during this period of the Internet bubble collapse, some falling in value as much as 27 percent; but HP under Fiorina fell 55 percent. During those years, stocks in companies like Apple and Dell rose. Google went public, and Facebook was launched. The S&P 500 yardstick on major U.S. firms showed only a 7 percent drop. Plenty good was happening in U.S. industry and in technology.
Fiorina’s tenure, thanks to the Compaq deal, profits fell, employees were laid off and value plummeted. Fiorina was paid over $100 million for this accomplishment.
And I have to point out the obvious: If the board was wrong, the employees wrong, and the shareholders wrong—as Fiorina maintains—why in 10 years has she never been offered another public company to run?
Fiorina is clever and articulate, but during events like last week’s debate, it’s clear that she seems to have learned very little from her reign as a tech chief. On the campaign trail as in business, she still displays four key leadership flaws: