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President Jesus Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 08:52 AM
Original message
Hewlett-Packard CEO Fiorina Resigns
(...an HP replaces one Republican with a much bigger one!)

Hewlett-Packard CEO Fiorina Resigns
NEW YORK - Carly Fiorina has stepped down after six years as chairman and chief executive of Hewlett-Packard Co. in a surprise move at the technology company that she had steered from its roots in the printer business more deeply into personal computing and services, the company announced Wednesday.

In a statement, Fiorina cited differences with the board over executing its strategy and suggested she was fired.

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coyote Donating Member (900 posts) Send PM | Profile | Ignore Wed Feb-09-05 08:58 AM
Response to Original message
1. 
good riddance to trash.
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indepat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:05 AM
Response to Reply #1
4. An extremely bright and energetic nephew was one of Carli's victims
and the value of my HP stock dropped some one-third in value during her tenure. Good riddance.
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Bush_Eats_Beef Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:19 AM
Response to Reply #1
18. Carly "No Longer Your God-Given Right To Have A Job" POS Fiorina
BUH-bye.
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VegasWolf Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:37 AM
Response to Reply #18
26. ROFLMO! Too bad, so sad carly! Couldn't happen to a !nicer person. n/t
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derby378 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 08:33 PM
Response to Reply #18
32. My HP embargo is over
Buy all the Hewlett-Packard products you want. Kissee-kissee, Carly!
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Robert Oak Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 08:45 PM
Response to Reply #32
33. Maybe not, she was fired for not cutting costs enough
So the ruin of a great company through firing everyone may not
be over at all.

If the board continues on the ITAA mantra of "outsourcing is good for America" they will continue to go down...

hasn't anybody noticed that only innovation really lately is coming
from the open source community?

Could it be all of the fired engineers are contributing to open source?

They sure as shit aren't sweating their brow to innovate for "the man"
since it doesn't matter what you do anymore.
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derby378 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 08:52 PM
Response to Reply #33
34. Duly noted
But at least she's outta here. I hear the local Wal-Mart is hiring.
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President Jesus Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-11-05 02:41 AM
Response to Reply #32
35. and why? The new ceo is an even bigger republican
(see link in original post)
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Xipe Totec Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:29 AM
Response to Reply #1
19. When elephants fight,
it is the grass that suffers.
- African Proverb

This is not good news for anybody. Expect to see bad numbers posted by HP, followed by layoffs. There's going to be blood on the walls before this is over.

I feel bad for the employees at HP.

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Redstone Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:01 AM
Response to Original message
2. I knew they were on the wrong path
when they spun off the "original" test equipment business into Agilent (a very profitable product line, bu the way), and decided to make their fortune in the low-margin, cutthroat dogfight of the PC businesss.

(Not many people may know that HP was not a computer company until they bought Apollo.)

Then folded their independent-minded and VERY profitable printer group into the whole PC morass...what a prescription for disaster.

Redstone
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gbwarming Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:33 AM
Response to Reply #2
8. BTW, HP sold minicomputers as early as 1966
I guess Apollo got them into the mainstream workstation market, but they were already well established with the 2100 and 3000 series mini-computers, high end desktops (9800 series), and (expensive I/O oriented) personal computers, and calculators.

Some early HP computer history
http://www.hp9825.com/html/hp_2116.html
And for the RPN geeks out there: Dave Hicks Museum of HP calculators
http://www.hpmuseum.org/
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Redstone Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:44 AM
Response to Reply #8
21. Thanks for the correction
Ihad only know HP as a test-equipment company, since that was the field I was in.

Redstone
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DainBramaged Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:10 AM
Response to Reply #2
15. They sent the power products group overseas to Taiwan
And a few dozen folks lost their jobs. This miserable little bitch surgically removed everything that could be outsourced and then played the * game, cutting the capital and wealth of the Domestic workforce for the stock holders' benefit.

I hope she burns between two electrodes for eternity.
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mhr Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:04 AM
Response to Original message
3. Good Riddance Executive Witch - Ms. Nobody Should Expect Job Stability
eom
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cthrumatrix Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:10 AM
Response to Reply #3
6. oh that's right...she did say that...in her case she'll get many $million
in severance....she will never have to worry...ever.
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gbwarming Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:08 AM
Response to Original message
5. feh! "Roots in the printer business."
Edited on Wed Feb-09-05 09:08 AM by gbwarming
The real HP had far deeper roots than that. They built exceptionally high quality, innovative test equipment for decades before printers became a major part of the business.. RIP HP.
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htuttle Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:11 AM
Response to Original message
7. At last, the secret memos that ignited the HP/Compaq merger revealed!
http://www.theregister.co.uk/2001/09/05/revealed_the_se... /


We can exclusively bring you the email correspondence that sparked the merger talks between Hewlett Packard and Compaq. Analysts have been puzzling how this unlikely pairing took place.

Now we can explain how the two industry giants embarked on their discussions, amidst great secrecy, earlier this summer:-


It began with an exploratory foray from the HP Chief Executive:-


From: "FIORINA, CARLY (HP-Cupertino)" <carly.fiorina@hp.com >
To: "thedon@compaq.com "
Subject: Merger template
Date: 28 July 2001
Attachment: Merger template.DOC

Hi! How are you?

I send you this file in order to have your advice!

See you later. Thanks



(more fun at link)

For those who don't remember, the text of that memo is taken from the SirCam virus that was going around in the spring/summer of 2001.
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Jack Rabbit Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:36 AM
Response to Original message
9. Ms. Fiorina has no God-given right to her job
A high school student in China or India could do as good a job as most CEOs for a lot less money.

For that matter, so could a monkey in a zoo.

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inslee08 Donating Member (155 posts) Send PM | Profile | Ignore Wed Feb-09-05 09:39 AM
Response to Original message
10. FWIW, HPQ is up 7-8%
in early trading.
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dryan Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:44 AM
Response to Reply #10
11. She did a lousy job...
she deserved to loose it!
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Tempest Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 09:52 AM
Response to Original message
12. Failure has its rewards
She was completely unrealistic in her rosey predictions regarding the purchase of Compaq and now has to pay the price.

I won a bet on the merger. I predicted it would drag HP down.

Rumors say her severance package is in the hundreds of millions.
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makhno Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:01 AM
Response to Original message
13. Champagne must be flowing at HP
:toast:
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davidinalameda Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:49 AM
Response to Reply #13
27. the stock price is up 7% a share
so lots of people must be happy about this
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NJGeek Donating Member (680 posts) Send PM | Profile | Ignore Wed Feb-09-05 10:04 AM
Response to Original message
14. Good riddance!
My father spent 30 years at HP and he suffered with his retirement funds because of her. She essentially killed the engineer-focused culture of that once great company. Let's hope they can get their act together!
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DainBramaged Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:14 AM
Response to Reply #14
16. They will never recover their greatness, ever
They should just close one of the computer divisions and become another miserable failure like Gateway, Packard Bell, and Acer.

Michael Dell must be laughing his ass off now, little Thuglie butt licker.
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:16 AM
Response to Original message
17. Don't let the door hit your butt on the way out ... nt
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AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:32 AM
Response to Original message
20. Well i just won a $25 bet
MMaybe she should have spent more time at HP and less time shlling for Bush.
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kodi Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 10:58 AM
Response to Original message
22. what logic demands she get an 8-9 figure exit package for gross failure?
Her term as ceo was an era marked by abject failures at HP.
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egoprofit Donating Member (230 posts) Send PM | Profile | Ignore Wed Feb-09-05 11:30 AM
Response to Original message
23. HP's Carly Fiorina ousted by board...
I searched but could not find this previously posted, sorry if it's a dupe!!

~snip~
Fiorina forced out at HP

CEO who engineered Compaq merger leaving after fight with board; will walk away with $21 million.
~snip~

CNN.COM
http://money.cnn.com/2005/02/09/technology/hp_fiorina/i...

I remember someone talking on DU about how she would get a large severence package... 21 MILLION!! that's insane. i bet she will be much happier as a jobless millionaire...

I am a contractor for HP and I know how tight things are around here, i'm not surprised by this.
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Jack_Dawson Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:30 AM
Response to Reply #23
24. Maybe now she can cook dinner for her family
:beer:
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:37 AM
Response to Original message
25. I'm celebrating.
Edited on Wed Feb-09-05 11:39 AM by HughBeaumont
Stupid bitch. "No job is America's God-given right anymore" Anyone remember that? That was said by her in the wake of a tech executive conference that in general miserably failed to defend their ridiculous offshoring stance without sounding callous. Also said in a time that tech workers were being laid off left and right thanks to offshoring and all President Link and his corporate backers could say to them was either "er . . . um . . . tough shit? Better me than you? Heh heh . . . " or "Retrain . . . you're resilient, you'll figure it out".

Meanwhile, this asswipe takes over and more or less had the same revenue as five years ago while spending 2.5 times as much money. So under her direction, HP ran faster to stay in the same place.

Big deal. She'll probably be replaced with someone equally callous and greedy. This woman ran Compaq and HP into the ground and she gets rewarded. Amazing. This is how Dumberica runs nowadays. Do I get rewarded if I fuck up this bad?
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amazona Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:50 AM
Response to Original message
28. she won't be missed by this disgruntled shareholder NT
.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

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Orsino Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:51 AM
Response to Original message
29. I'm not gonna cheer.
She's walking away with millions.

This is the what the CEO class does best. They install each other with severance packages that completely divorce their performance from their compensation.

So what if she was fired? They'll just install another bungee boss whose policies are indistinguishable.
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:53 AM
Response to Original message
30. This is big news.
She was responsible for one of the largest mergers in the tech industry. She was also a female executive in an industry where females are scarce. HP is also one of the largest PC manufacturers in the world. I heard that this was coming. I wonder what it means for HP.
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-05 11:56 AM
Response to Original message
31. Here's the Infoworld link
http://infoworld.com/article/05/02/09/HNdismissfiorina_...

Hewlett-Packard announced Wednesday that its board of directors has dismissed Carly Fiorina as the company's chairman and chief executive officer.

Fiorina, who has been HP's CEO for the past six years, is to be replaced on an interim basis by HP's current chief financial officer, Robert P. Wayman, the company said in a statement. Wayman, who has been with HP for 36 years, will also continue to fill his role as CFO. HP has already begun its search for a new CEO, the Palo Alto, California, company said.

HP also named Patricia Dunn as its non-executive chairman of the board. Dunn has been an HP director since 1998.

HP said it does not plan to make any additional structural changes or executive leadership changes for the time being.
<snip>

http://infoworld.com/article/05/02/09/HNdismissfiorina_...
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