Is HP Competing For "Worst Board Ever" Honors?

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You know your company is in trouble when Reuters flat out asks if you are competing for the title of "worst board ever." Ouch.

If the board of Hewlett-Packard Co is not already ranked as one of the worst in corporate America, there are some who think it could be a contender. HP shares surged on Wednesday after sources said the board was meeting and might oust Chief Executive Leo Apotheker after less than a year on the job.
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No joke...that or how to destroy one of the biggest companies on the planet faster than most small businesses fail.
 
look at who the board has hired for their CEO and what they did to their last CEO... and issues with the compaq merger... yeah.. sounds about right.
 
If they do oust that insane CEO, who had them ditch their extremely popular mobile division, it will be their most intelligent decision to date. Why on earth they elected his crazy ass to begin with must have been a monetary decision of some sort. Perhaps he had a single insane ideal that made them money at one time.
 
It seems to me HP and Netflix are competeing to see who will go from the top to the bottom in the shortest ammount of time. Must be some new reality tv show we'll be watching next summer. Maybe its like the old 80's Richard Pryor movie "Brewsters Millions" where they have to desolve a certain ammount of assets in order to gain some big prize. That's the only way either companies decissions make any sense.
 
Like I said in the other thread: The Board and CEO all need to be shitcanned and without the golden parachutes.
 
Kaitian said:
Board just fired the CEO. Whitman's the new CEO.
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The question still remains, will HP spin of it's PC business. I have a funny feeling that decision is about to take a 180 as the market reaction really couldn't have been more negative. As for the TouchPad, pretty sure that's still dead.
 
heatlesssun said:
The question still remains, will HP spin of it's PC business. I have a funny feeling that decision is about to take a 180 as the market reaction really couldn't have been more negative. As for the TouchPad, pretty sure that's still dead.
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No. That was his decision alone. The board wasn't too happy about the idea of him killing WebOS and his spinning off the PC business ideas.
 
WOW

Just wow... and I remember another thread saying how CEO's don't do anything and are over paid.

Well, here is an example of what happens when you have a bad one at the helm or your company. Fine don't pay him anything, does it matter? He is still able to sink the company, and is costing the company far more money than any salary a *GOOD* CEO can make, including the golden parachute.

I'm sure his golden parachute is still a pittance compared to how much money he cost HP.
 
I'm sure that they weren't happy about webOS being killed off, but at the same time old Leo did have a good point, HP will have to spend a ton of dough to get it off the ground. And honestly with Windows 8 coming to the ARM world next year webOS will at best be 4th in the market realistically after iOS, Android and Windows 8.

As for the PC business, there needs to be an Apple of the PC world. High margin, high quality products. HP has made a number of great PC devices over the years but they kind of half-assed them to make then cheaper. I say cut volume and increase margins by making more expensive higher quality stuff.
 
Yakk said:
WOW

Just wow... and I remember another thread saying how CEO's don't do anything and are over paid.

Well, here is an example of what happens when you have a bad one at the helm or your company. Fine don't pay him anything, does it matter? He is still able to sink the company, and is costing the company far more money than any salary a *GOOD* CEO can make, including the golden parachute.

I'm sure his golden parachute is still a pittance compared to how much money he cost HP.
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$25M in severance compared to $30B or more in market cap? Yeah, a little bit less.
 
Now if the new CEO has a set she will reverse the WebOS decisions, hire back the fired employees and tell the bean counters to take a hike for a year or two.
 
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