Word: compaq
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Dates: during 2000-2009
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...Officers took note of the theft of a wallet and Compaq laptop computer at Canaday Hall last Sunday, March 12. The stolen items were valued...
...board of directors at Hewlett-Packard had admired many things about their star CEO. Asked to bring change to the doddering Silicon Valley giant, she pursued the task fearlessly, her efforts culminating in a controversial merger with Compaq. Asked to inject pizazz into HP's pedestrian marketing, she overhauled it right down to the corporate logo. Asked to create a strategic vision for a company that had none, she came up with dazzling insights into "transformational trends" and a hyperdigital future in which HP would serve consumers and corporations at every stage. But the board ultimately concluded that Fiorina...
...business to Lenovo, a Chinese company. IBM had concluded that a PC was a commodity, little more than a toaster that also does long division, and its decision to get out of the business spotlighted Fiorina's opposite bet. Under her command, HP in 2002 spent $19 billion buying Compaq, largely to expand its position in PCs and fight off Dell, the market's low-cost leader. Though the merger had produced cost savings--and wrenching layoffs--profits remained hard to come by. In 2003, despite Fiorina's promises that operating margins would reach 3%, the company's PC division...
Those odds got a lot sharper during her burnt-earth campaign to acquire Compaq in 2002. To Fiorina, combining the two plodding PC businesses was the only way to improve profitability and take on the low-cost, direct-sales monster called Dell. To critics, merging two lousy operations had limited appeal. Director Walter Hewlett, a Stanford music professor and son of the co-founder, led a public proxy fight against the deal. Although Fiorina prevailed, the cost was high. Within months, Compaq CEO Michael Capellas, who was supposed to run the computer division, was out the door. Others followed...
...will bigger be better? Unlike the mates in the HP-Compaq and AOL--Time Warner deals, both partners here are marrying from positions of strength. P&G, for one, has had several recent hits, like Crest Whitestrips and Swiffer cleaning products, and Wall Street loves Lafley for increasing operating income and turbocharging the growth of brands like Iams pet food (another acquisition). On the other hand, P&G has never absorbed a company as large as Gillette, with its 30,000 employees, and the price it's paying is steep. "We are skeptical that simply going from $55 billion...