http://www.dailykos.com/story/2015/08/18/1413047/-Public-service-reminder-Carly-Fiorina-was-one-of-the-worst-CEOs-in-tech-industry-history?detail=email
With former Hewlett-Packard CEO Carly Fiorina creeping up the Republican presidential ladder—Huffington Post Pollster's average has her surging into ninth place nationally!—it's a good time to remind everyone about Fiorina's business record. Fiorina loves to tout her experience running what was once one of the world's greatest computer companies, offering it as her top qualification for why she should be entrusted with the presidency. Given the pride she takes in her résumé, it'd only be natural to assume that she must have done a kick-ass job at HP.
But that'd be wrong. She was an epic disaster of almost unprecedented proportions.
Fiorina's chief "accomplishment," such as it was, was to force through the acquisition of Compaq Computer in 2002, a move fiercely opposed at the time by just about anyone with any sense: Compaq was in the increasingly unprofitable commodity hardware business, while HP's chief rival, IBM, was undergoing a renaissance by focusing on services.
Among those hostile to the idea was Deutsche Bank, a major HP shareholder. Fiorina managed to bring DB around, but how she managed to do so is a tale in itself. In short, she went full-on bully:
In proxy voting, Deutsche Bank originally voted against the transaction with the massive HP shares it held in various fiduciary accounts—representing the interests of its investment clients. Enraged, Fiorina threatened in a recorded voicemail, "we may have to do something extraordinary" to bring Deutsche Bank over the line.
In a conference call with Deutsche Bank commercial bankers eager to do business with HP, she stated "This is obviously of great importance to us as a company. It is of great importance to our ongoing relationship."
After such coercion, Deutsche Bank's commercial bankers intervened; apparently fearing lost business then, supposedly independent Deutsche Bank fund managers reversed their vote. This was immediately challenged in Delaware Chancery Court. The court saw the danger of such alleged vote-buying, but ultimately it allowed the deal.
From its peak in 2002 until the day Fiorina was finally forced out by the board in 2005, HP lost over 70 percent of its value. (By way of comparison, the S&P 500 fell 21 percent over the same time frame.) Rather infamously, the stock jumped 10 percent the day her firing was announced.
just wondering could the reason for that angry scowl on her face 90% of the time be because she kinew at some point the truth would come out and shine all over her claim to fame being the HP fiasco of which she was the captain of that ship.
the two women that republicans have placed before us Palin and now Fiorina what were they thinking were they just using them as tokens to fool some into believing they would embrace a woman at the top, they can't bring themselves to except them from any level let alone in the WH. think about it and their history and the laws they've passed against woman and what they condone as exceptable rhetoric about them
