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Fiorina's supporters think HP in the middle will be a hit show. The rationale for acquiring Compaq has not changed, they argue. By buying Compaq's vast product portfolio, R.-and-D. muscle, direct-sales channel and 34,000 tech-service pros, HP could thwart IBM and Dell. "Analysts are waiting for us to put points on the scoreboard," says Michael Winkler, Fiorina's executive vice president for operations. (Fiorina declined to be interviewed...
Even if Fiorina can thwart Dell's attack in hardware and services, that still leaves IBM gunning for her other flank in higher-end corporate computer systems and services. IBM retained its market share in servers through this year's second quarter, while Compaq's share has eroded slightly, enabling IBM to pull to a tie in terms of global revenues, according to IDC. IBM CEO Sam Palmisano recently said the company would invest $10 billion to enable clients to purchase computing power "on demand," signaling to HP and other rivals that Big Blue is planning a war of attrition...
Having PWC helped IBM win exclusive negotiating rights for a $5 billion deal with J.P. Morgan Chase this month. HP did not bid for that job, and in February neither HP nor Compaq was able to beat IBM for a $4 billion contract with American Express. Says Doug Elix, chief of IBM Global Services: "HP reminds us of where we were 10 years ago when we were building our services and got into outsourcing. It takes a long time to build services that have the breadth ours do." As evidence that it can tackle IBM in large outsourcing jobs...
...steamy day last July, IBM had just announced a deal to buy the consulting arm of PricewaterhouseCoopers (PWC) for $3.5 billion, and Virginia Rometty, known to friends and customers alike as Ginni, had been tapped to head the new division. As Rometty, 45, was shuttled around New York City from one TV studio to another for interviews about the big news, the Chicago native insisted on taking time to call a few of her major customers to assure them that she would stay involved in their accounts during the transition...
...vintage Rometty, whose people skills and relentless focus on the customer have some IBM insiders discussing her as future CEO material. At a time when many companies are increasingly skeptical about investing in new IT projects, Rometty is charged with making Big Blue--already the world's largest IT-services company, with $35 billion in annual revenues--into an even more pervasive presence in corporations. Her job is to persuade big customers to do one-stop shopping at IBM, to make it as dominant in high-level-strategy consulting as it is today in maintenance and outsourcing. By tapping...