Word: hewletts
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Dates: during 2000-2009
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...merger debate rushes toward a March 19 shareholder vote, both sides have engaged in a nasty nationwide campaign of name calling. Last week Walter Hewlett, Bill Hewlett's son and the HP board member leading the fight against the Compaq merger, released a report on what the company should really be doing. Its main proposal: dump Fiorina. "She's burned a lot of bridges," Hewlett told TIME. "It's hard to see how she would survive." This came after the rest of the board, which backs Fiorina, drafted a blistering open letter to Hewlett: "You have insulted our personal commitment...
...public backbiting like this at every company. Then again, not every company has a legacy like HP's. Both Hewlett and Fiorina have staked their claim to what the founders dubbed "the HP way," a phrase that at first embodied the ideals of innovation and good corporate citizenship but has come to mean many things to many people over the past 60 years. Now two polar-opposite visions of the company's destiny--indeed, of how best to survive in today's rough-and-tumble tech economy--have taken shape. When the smoke clears, there will be only...
...Fiorina's future, HP follows the mantras of the dotcom era: get big fast and diversify, keeping your fingers in as many pies as possible (in this case, the PC business, the server business, the consultancy business, and printing and imaging). Hewlett's vision is more classic and conservative: avoid spreading your resources too widely, and focus on what you do best--and what you're known for. In HP's case, that's printing and imaging. Hewlett would have HP ditch most of its low-margin PC business. Until recently, Wall Street seemed to be in lockstep with Hewlett...
...Kumar's logic leaning? He won't say, but the wind may have started to turn in Fiorina's favor. In HP's latest earnings announcement, quarterly profit was a whopping three times last year's level, thanks largely to strong Christmas sales of cameras and printers. Hewlett seized upon that, saying it showed how well HP can do on its own, but others were pleasantly surprised--and more inclined to give Fiorina the benefit of the doubt...
...Hewlett certainly can't rely on regulators to scuttle the deal. The European Union rubber-stamped the merger without attaching conditions. The FTC will likely do the same. Support for the merger within HP has climbed to 65% from its 55% low, according to internal polling. (That HP has taken internal polls shows just how dicey things were.) And Hewlett's fellow board members have been increasingly eager to point out that Fiorina is not riding roughshod over them. "It's unfair to say this is Carly's deal," says Bob Knowling, a former CEO of Covad. "Compaq just makes...