Word: delling
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Dates: during 2000-2009
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...board ultimately concluded that Fiorina had one significant weakness as a chief executive: she just wasn't very good at running the business. That's a problem when you head an $80 billion behemoth with lackluster earnings that is beset on all sides by competitors like IBM, EMC and Dell. "Looking forward, we think the job is very reliant on hands-on execution, and we thought a new set of capabilities was called for," said Patricia Dunn, an HP director who became nonexecutive chairwoman...
...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 earned a meager 0.1% on $21.2 billion in sales. And last August, the company...
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...
Though the merger did produce significant cost savings, it did not improve HP's strategic position. In consumer PCs, HP is still getting punished by Dell, which just reported record numbers. On the computer- services side, HP is mostly stuck in the maintenance business, where margins are shrinking. Even HP's best performer--the $24.2 billion printer and imaging-products business, which yielded 73% of profits last year--is under pressure. Dell has entered the printer market and already has a 13% share of the U.S. inkjet-printer market...
General Motors, Dell and Samsung--one of the leading producers of the phones--are among the companies that have prohibited employees from taking cam phones into sensitive research and production facilities, to prevent corporate espionage. Schools are banning them to halt cheating, since students have been nabbed shooting test questions and e-mailing them to others. Many courthouses ban the phones to prevent witness or juror intimidation. (At a superior court hearing in Los Angeles three months ago, a witness was photographed by a cam-phone user who threatened to post the photo on the Web.) Most gyms have...