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  1.    #1  
    Can't post link yet but easily searched for:

    (Reuters) - 'Leo Apotheker's credibility as a CEO is falling along with Hewlett-Packard's stock price.

    Apotheker, who gained a reputation for sharp business acumen when he headed up SAP, thoroughly flummoxed HP shareholders last week with what some analysts have called a "value destroying" $11.7 billion deal to buy British software maker Autonomy and for sticking a for-sale sign on HP's PC division -- thus scaring off clients for the year or so it will take to decide on the division's future.

    In a resounding rejection of Apotheker's grand vision, shareholders sent HP shares down almost 20 percent on Friday, wiping out $16 billion of value in the worst single-day fall since the Black Monday stock market crash of October 1987.

    Since Apotheker joined HP early last November, the company has lost almost 44 percent of its value, and he has lost a significant amount of investor support.

    "We wonder whether activist investors will -- and should -- begin to exert pressure on the board," said Toni Sacconaghi, an analyst with Sanford Bernstein. "If HP's results don't improve, the company will ultimately restructure its portfolio and/or replace its leadership."'
    angiest, Rnp, darkzone and 2 others like this.
  2. #3  
    I don't see how you could argue against replacing him when the company's value has decreased by nearly half since he took over.
  3. #4  
    This is such a disaster. HP is such a poorly run company with no stability at the top. A year ago, the mantra was that HP bought Palm wanted to be more like Apple. Now with a new CEO the mantra is get out of the commoditized PC business and be more like IBM?
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  4. #5  
    the story has one problem, Leo wasn't at SAP very long and didn't develop a positive reputation as the article indicates. He failed there, too.
    un_designer likes this.
  5. angiest's Avatar
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    #6  
    Quote Originally Posted by Cantaffordit View Post
    the story has one problem, Leo wasn't at SAP very long and didn't develop a positive reputation as the article indicates. He failed there, too.
    Apparently the BOD at HP thought he did a good job.

    Or HP is just so screwed up no one else would take the job.
  6. #7  
    Fiorina, Hurd, Apotheker...they sure know how to pick them, huh?
  7. #8  
    Quote Originally Posted by nappy View Post
    Fiorina, Hurd, Apotheker...they sure know how to pick them, huh?
    It's what happen when all eyes are on short-term payoffs... Those at the top keep getting rewarded for making incredibly stupid decisions like Leo A.s.s.c.r.a.p. there. Seriously, these types of people are nothing but parasites on the companies they supposedly "run"

    Meanwhile, there are countless number of employees at all levels getting the screwdriver shoved deeper into their back. I'm sure I'm not the only one on these forums who know people who work at HP. Just ask any of them, they'll tell you how bad it's been and how it continues to get worse. The "leaders" are literally disassembling HP from the inside-out. HP is just an empty shell of its former self.
  8. #9  
    Quote Originally Posted by nappy View Post
    Fiorina, Hurd, Apotheker...they sure know how to pick them, huh?
    someone needs to fire the board for being so incompetent at picking executives.
  9. angiest's Avatar
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    #10  
    Quote Originally Posted by Cantaffordit View Post
    someone needs to fire the board for being so incompetent at picking executives.
    You actually have to get all of the minority shareholders to agree to do something other than rubber stamp the larger shareholders.
  10. nhavar's Avatar
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    #11  
    Quote Originally Posted by Cantaffordit View Post
    the story has one problem, Leo wasn't at SAP very long and didn't develop a positive reputation as the article indicates. He failed there, too.
    Define "wasn't at SAP very long" - Leo was at SAP from 1988 until 2010. He was deputy CEO 2007-2008, and co-CEO 2008-2010. He was also on the executive board until he got voted off shortly before coming to HP. I'm in no way defending him, but it's kind of hard to succeed when you're a CO-CEO (that title has to be the dumbest title I've ever heard.)
  11. #12  
    I meant that he wasn't CEO very long. Sorry.
  12. #13  
    World's smallest violin

    P.S. Anybody know why my HTML code is set to "off" as well as my [img] tag?
    Last edited by grappler; 08/22/2011 at 03:26 PM.
  13. #14  
    Well... the HP need hire me as CEO!! Who agree?


    Best Regards...
    "If A Man Isn't Willing To Take Some Risk For His Opinions, Either His Opinions Are No Good Or He's No Good!" - Ezra Pound (Poet & Critic)
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  14. #15  
    Someone correct me, but isn't HP paying something in the range of a 60% premium over the stock price for this Autonomous company? Did they really need to spend that much?
    Seems the shareholders of Autonomous are the ones coming out on top in this deal.

    Sent from my SCH-I800
    .....Life is But Such Sweet Sorrow.....
  15. #16  
    HP needs somebody with vision at the top. Somebody with Apple DNA.

    They have a hardly used Rubinstein just sitting around...
  16. #17  
    Quote Originally Posted by GodShapedHole View Post
    HP needs somebody with vision at the top. Somebody with Apple DNA.

    They have a hardly used Rubinstein just sitting around...
    That worked out so well for Palm...
  17. #18  
    Quote Originally Posted by angiest View Post
    Apparently the BOD at HP thought he did a good job.

    Or HP is just so screwed up no one else would take the job.
    he was probably a cheap alternative from whatever was available pickings at the time, then add in some gift of the gab and smooth talking and bam, new CEO.
  18. rkguy's Avatar
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    #19  
    Quote Originally Posted by GodShapedHole View Post
    HP needs somebody with vision at the top. Somebody with Apple DNA.

    They have a hardly used Rubinstein just sitting around...
    We see what you did there.
    ...This programming stuff is actually addictive but really hard :/
  19. ggendel's Avatar
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    #20  
    I've been through a number of corporations where the board is completely out of touch with reality. One was RCA who had board members spying on each other so they could collect dirt to use when they needed to push their personal agenda. When Bradshaw came in he cleaned house, sold off all the superfluous holdings of RCA (like Random House publisher and Banquet Foods) and brought RCA back to it's roots. RCA began to grow. Sounds good, right? Once profitable again, Bradshaw inked a "merger" with GE for less than the cash that RCA had in the bank. GE promptly closed and divested everything but NBC, which is what they really wanted, sending 10s of thousands of employees out in the street in NJ alone when times were tough (like now). Bradshaw claimed he was duped by GE (and died shortly afterwards).

    Apotheker should read about the failures and successes of corporations in similar situations to learn what works and what doesn't. Just because companies like IBM were successful in their transition doesn't mean that you can shoot yourself in the foot while doing it. Personally, he's made so many mistakes I'm surprised that the stockholders aren't screaming for his head and asking for compensation.
    Palm III->Palm IV->Palm V->M130->Tungsten->Treo 270->Treo 600->Treo 700->Palm Pre Plus->FrankenPre 2->Pre 3 & TouchPad
    LCGuy likes this.

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