Word: pcs
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...playing Wall Street hardball, leading her company's ferociously contested proxy battle to buy Compaq Computer for $19 billion. She promised big benefits from that acquisition and last week began to deliver them. HP's quarterly earnings report showed the company stemming losses in its most troubled divisions--PCs and corporate computer systems--and surpassing its cost-cutting goals. HP shares have surged 72% since early October, including 15% last week...
Fiorina has quieted some of those she calls her "cynics and doubters," who had whispered that a woman with a marketing background was not fit to run HP. But she still faces formidable challenges, starting with generating profits in PCs and corporate "enterprise systems" at her newly merged company, which posted $35 billion in revenues in its first six months. Can she go from being a Churchillian leader, adept at giving a "We will never surrender" speech, to being more of a Lou Gerstner, IBM's former CEO, who was able not only to slash costs and jettison unpromising lines...
...terms of cost cutting, those points are accumulating. HP has shuttered nine assembly plants, cut 12,500 jobs and "rationalized" its product offerings, reducing them to 65,000 from 85,000. Result: $650 million in savings since the merger, which helped HP offset losses in its divisions that make PCs and enterprise-computing gear. "I'm keeping my shares," says Ben Rosen, Compaq's former chairman and a large shareholder. "HP is going to get so lean that earnings surprises will be on the upside...
Compaq client Charlie Orndorff is a believer. As chief information officer for Crossmark, a sales-and marketing-support firm based in Dallas, Orndorff spends the bulk of his $15 million IT budget on tech support for Compaq handheld devices, PCs, servers and storage networks. "Dell approached me," he says, "but all my engineers are HP certified, and adding brands with other certification requirements for a slightly lower price on the hardware wasn't compelling enough...
...Bill Gates says that tablet PCs will replace ordinary laptops in five years. No doubt his prediction is based on the anticipation of lighter, cheaper, simpler versions to come. Manufacturers are close to producing sleek handheld devices that function less like computers and more like wireless electronic books, which can be used for Web surfing, e-mailing, and for reading newspapers, books and periodicals. Tablet technology isn't there yet, but the day will come when you'll finally be able to download TIME on a tablet - and, yes, take it into the bathroom...