Carly Fiorina to step down

LegendKiller · 02-09-2005, 07:49 AM

About fekkin time...

http://quote.bloomberg.com/apps/news...7fk&refer=home

kimchicowboy · 02-09-2005, 07:50 AM

wow. woman power takes a hit.

faither · 02-09-2005, 07:56 AM

And her leaving was immediate! Ouch.

johnnymk · 02-09-2005, 08:12 AM

Wow, she was the darling of Wall Street just a few years ago.

Merlin · 02-09-2005, 08:47 AM

Do you want to know more?

Quote:

Carly Fiorina's nearly six-year reign at Hewlett-Packard Co. ended Wednesday as the company's board forced her out as chief executive, disappointed by her efforts to make the technology giant whose strongest business is printers more nimble and innovative. HP shares surged 7 percent.

Board members said they fired Fiorina, one of corporate America's highest ranking female executives, because she failed to execute a planned strategy of slashing costs and boosting revenue as quickly as directors had hoped.

Ouch! Usually they are a little nicer about things like this. Sounds like there were a lot of hostile feelings over at HP.

LegendKiller · 02-09-2005, 09:09 AM

The compaq merger failed to do anything close to creating any investor value. Then there was the calculator debacle. Not to mention their failed attempt to lock down secondary ink markets. Ohh, and lets not forget them turning the printer business to junk and then giving a large market share to Dell. But wait, there's more. How about killing DEC in favor of craptstic Itanium. Well, then there's destroying a lot of the innovative ideas counted on from employee's by treating employee's like chattle. Hmmm...no wonder the stock went up ~10% this morning.

LK

Daversinger · 02-10-2005, 02:08 PM

i'm chosing this stock for General Buisiness now lol!!

Showtime · 02-10-2005, 03:06 PM

My boss and I was discussing this yesterday and I felt that she never had a chance.
The company was already heading in the wrong direction. The compaq fiasco was just that, but it was an attemp at building the #2 computer producer on the planet. They wanted to be Pepsi to Dells' Coke and that's not a bad thing. Compaq had already bought out e-machines and it could have worked better if it weren't for Dell's deal with the devil.

$300 3Ghz rigs!

He also thinks HP messed up when they stopped producing high end oscillioscopes and stuff. He may be right. The consumer market can be an S.O.B.
I think HP can bounce back and become a strong computer brand and being the #1 printer company is no joke. They should make a deal with AMD and market the hell out of 64 bit technology. Dell wont have an answer for at least a year cuz they are joined at the hip with inhell.

-jel

bachviet · 02-10-2005, 03:15 PM

Quote:

Originally Posted by the jello is jigglin

...

Compaq had already bought out e-machines and it could have worked better if it weren't for Dell's deal with the devil.

$300 3Ghz rigs!

...

-jel

Since when did Compaq bought E-Machines? E-Machines were bought by Gateway.

Showtime · 02-10-2005, 03:32 PM

Quote:

Originally Posted by bachviet

Since when did Compaq bought E-Machines? E-Machines were bought by Gateway.

Oops I was totally under the impression that HP's latest cheap batch were emachines. I guess gateway and hp are in the same boat as far as home computers are concerned.

-jel

DarkFury · 02-10-2005, 08:36 PM

Quote:

Originally Posted by the jello is jigglin

Oops I was totally under the impression that HP's latest cheap batch were emachines. I guess gateway and hp are in the same boat as far as home computers are concerned.

-jel

Nope.. just crappy Compaqs with a new label on them.

yippiekiyeh · 02-11-2005, 02:53 AM

Talk about being run out of town on a rail, she definitely was setup to fail. Which sucks because I feel like HP has a great history and great products, well at least printers. And they partnered with Apple on iPods, that can't be all that bad...

johnnymk · 02-11-2005, 04:37 AM

Fiorina Gets The Last Laugh

Carly Fiorina didn't make much money for Hewlett-Packard investors,
but she certainly made a bundle for herself.

According to the Associated Press, Fiorina is leaving HP with a
severance package worth at least $21.1 million, which is on top of
the $16.8 million she collected in non-stock pay since joining the
company in 1999. If you add the stock she received while taking HP
nowhere, then her compensation swells to 10s of millions of dollars
more.

And what did investors get? Nothing. HP's stock is down two-thirds
from its peak in 2000, and has been nearly flat for two years,
according to the AP.

Now call me a spoilsport, but I see this as obscene. It's also an
insult to the thousands of people who lost their jobs during
Fiorina's reign.

Company boards are too quick to hand out multi-million-dollar pay
packages to CEOs without making sure there will be a penalty for poor
performance. I can only imagine what Fiorina would have received for
a severance package if she had done her job well.

While all this money is being tossed at under-performing CEOs, the
average worker has been told to spend more for medical insurance, to
expect less in retirement and to live on the smallest of raises.

Despite the unfairness, there's no indication that the pay chasm
between CEOs and workers will narrow. Instead, it seems destined to
grow.

This trend can't be good in the long-term for either companies or the
nation. If the leaders in business can't think beyond their own
personal wealth, then they will create a cynical workforce that sees
itself as victims in an unjust economic system, rather than
contributors to a nation's future.

Merlin · 02-11-2005, 06:15 AM

Quote:

Originally Posted by johnnymk

And what did investors get? Nothing. HP's stock is down two-thirds
from its peak in 2000, and has been nearly flat for two years,
according to the AP.

In all fairness, the share price performance of a tech company over that time frame is not the best barometer to use. King Midas himself would have had a difficult time maintaining 2000 valuations.

Not that I am a fan of hers (I'm pretty much against big mergers - the numbers on them rarely add up) but the criticisms should be more valid.

bachviet · 02-11-2005, 08:36 AM

She should have been fired so they don't have to pay her severange.

ray · 02-11-2005, 12:00 PM

Quote:

Originally Posted by bachviet

She should have been fired so they don't have to pay her severange.

If she were fired for no reason, she would still receive severance. The Board would have to prove that she was not performing her duties as CEO or violating company rules to prevent her from collecting severance. Acts such as having sex with a janitor on a conference table, pulling a martha stewart or shredding like Andersen would probably land her in jail without any severance.

bachviet · 02-11-2005, 01:40 PM

Quote:

Originally Posted by ray

If she were fired for no reason, she would still receive severance. The Board would have to prove that she was not performing her duties as CEO or violating company rules to prevent her from collecting severance. Acts such as having sex with a janitor on a conference table, pulling a martha stewart or shredding like Andersen would probably land her in jail without any severance.

How about not improving company profit? That should be in every CEO contract.

DarkFury · 02-11-2005, 02:38 PM

Talk about a "golden parachute".

Some folks get all the breaks.

johnnymk · 02-11-2005, 07:19 PM

Martha Stewart lies to the SEC and gets jail time while Carly is responsible for ruining the lives of thousands of employees and losing millions of dollars in revenue and gets rewarded for it. Amazing!

02-09-2005, 08:12 AM	#4
johnnymk Chief of Naval Operations Join Date: May 2000 Location: LEVITTOWN< PA> USA Posts: 13,621	Wow, she was the darling of Wall Street just a few years ago. __________________ “Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” (Winston Churchill)

02-10-2005, 03:06 PM	#8
Showtime Lakers fanatic Join Date: Sep 2000 Location: L.A. ->SoCal<- O.C. Posts: 7,338	My boss and I was discussing this yesterday and I felt that she never had a chance. The company was already heading in the wrong direction. The compaq fiasco was just that, but it was an attemp at building the #2 computer producer on the planet. They wanted to be Pepsi to Dells' Coke and that's not a bad thing. Compaq had already bought out e-machines and it could have worked better if it weren't for Dell's deal with the devil. $300 3Ghz rigs! He also thinks HP messed up when they stopped producing high end oscillioscopes and stuff. He may be right. The consumer market can be an S.O.B. I think HP can bounce back and become a strong computer brand and being the #1 printer company is no joke. They should make a deal with AMD and market the hell out of 64 bit technology. Dell wont have an answer for at least a year cuz they are joined at the hip with inhell. -jel __________________ NBA REPORT 10-11/ The 3-Peat! 1948 1949 1950 1952 1953 1954 1972 1980 1982 1985 1987 1988 2000 2001 2002 2009 2010 Reigning NBA CHAMPS!

02-11-2005, 02:53 AM	#12
yippiekiyeh A Friend of a Friend Join Date: May 2001 Location: WESTSIDE! Posts: 1,673	Talk about being run out of town on a rail, she definitely was setup to fail. Which sucks because I feel like HP has a great history and great products, well at least printers. And they partnered with Apple on iPods, that can't be all that bad... __________________ Distributed.Net I'm Trying this blogger thang...

02-11-2005, 04:37 AM	#13
johnnymk Chief of Naval Operations Join Date: May 2000 Location: LEVITTOWN< PA> USA Posts: 13,621	I got this from Internet Week Fiorina Gets The Last Laugh Carly Fiorina didn't make much money for Hewlett-Packard investors, but she certainly made a bundle for herself. According to the Associated Press, Fiorina is leaving HP with a severance package worth at least $21.1 million, which is on top of the $16.8 million she collected in non-stock pay since joining the company in 1999. If you add the stock she received while taking HP nowhere, then her compensation swells to 10s of millions of dollars more. And what did investors get? Nothing. HP's stock is down two-thirds from its peak in 2000, and has been nearly flat for two years, according to the AP. Now call me a spoilsport, but I see this as obscene. It's also an insult to the thousands of people who lost their jobs during Fiorina's reign. Company boards are too quick to hand out multi-million-dollar pay packages to CEOs without making sure there will be a penalty for poor performance. I can only imagine what Fiorina would have received for a severance package if she had done her job well. While all this money is being tossed at under-performing CEOs, the average worker has been told to spend more for medical insurance, to expect less in retirement and to live on the smallest of raises. Despite the unfairness, there's no indication that the pay chasm between CEOs and workers will narrow. Instead, it seems destined to grow. This trend can't be good in the long-term for either companies or the nation. If the leaders in business can't think beyond their own personal wealth, then they will create a cynical workforce that sees itself as victims in an unjust economic system, rather than contributors to a nation's future.

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

02-09-2005, 07:49 AM	#1
LegendKiller Vice Admiral Join Date: Jun 2002 Location: Northern VA Posts: 4,927	Carly Fiorina to step down About fekkin time... http://quote.bloomberg.com/apps/news...7fk&refer=home

02-09-2005, 07:50 AM	#2
kimchicowboy Admiral Join Date: May 2000 Location: in the middle of the pacific ocean Posts: 5,344	wow. woman power takes a hit. __________________ "I pick my nose too but never eat it." - bachviet, 3/30/04 if anyone wants to go scuba diving in oahu or wants to learn who to scuba dive in oahu, PM me.

02-09-2005, 07:56 AM	#3
faither Rear Admiral Upper Half Join Date: Nov 2000 Location: FL Posts: 3,240	And her leaving was immediate! Ouch.

02-09-2005, 09:09 AM	#6
LegendKiller Vice Admiral Join Date: Jun 2002 Location: Northern VA Posts: 4,927	The compaq merger failed to do anything close to creating any investor value. Then there was the calculator debacle. Not to mention their failed attempt to lock down secondary ink markets. Ohh, and lets not forget them turning the printer business to junk and then giving a large market share to Dell. But wait, there's more. How about killing DEC in favor of craptstic Itanium. Well, then there's destroying a lot of the innovative ideas counted on from employee's by treating employee's like chattle. Hmmm...no wonder the stock went up ~10% this morning. LK

02-10-2005, 02:08 PM	#7
Daversinger Lieutenant Commander Join Date: Oct 2004 Location: Oak Park, IL Posts: 506	i'm chosing this stock for General Buisiness now lol!!

02-11-2005, 08:36 AM	#15
bachviet What's Da Pho*? Join Date: Aug 2001 Location: SoCal (714) Posts: 13,296	She should have been fired so they don't have to pay her severange.

02-11-2005, 02:38 PM	#18
DarkFury Secretary of the Navy Join Date: Feb 2001 Location: Chillin' N Da 'Hood Posts: 34,997	Talk about a "golden parachute". Some folks get all the breaks.

02-11-2005, 07:19 PM	#19
johnnymk Chief of Naval Operations Join Date: May 2000 Location: LEVITTOWN< PA> USA Posts: 13,621	Martha Stewart lies to the SEC and gets jail time while Carly is responsible for ruining the lives of thousands of employees and losing millions of dollars in revenue and gets rewarded for it. Amazing!

User Name
Password
Remember Me?