Word: teche
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Carly Fiorina has long struck a tone of defiant self-assurance, and it's beginning to seem justified. The CEO of tech giant Hewlett-Packard proved adept at 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'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...
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...
Some investors remain skeptical that Fiorina will be able to return HP to the brisk growth that it achieved in the 1990s, especially since her chief lieutenant, Capellas, has departed. Admired for his tech knowledge and ability to get chummy with chief information officers, Capellas has skills that were supposed to complement Fiorina's--a part of the pitch both executives made to persuade shareholders to vote for the merger...
...company earned $2.5 billion in net profits last year while many retail-tech stars fizzled. Business in the U.S. has more than doubled since 1999, to $2.8 billion in revenues. When Kim, 48, arrived in 1999, Samsung was already turning out some cool products. But nobody had noticed. Its brand image was fuzzy and inconsistent from market to market. One reason was that it employed a gaggle of 55 ad agencies. Kim consolidated that work in a single shop, assigning Madison Avenue's Foote, Cone & Belding Worldwide to coordinate Samsung's global marketing...