jew carly fiorina exposed!
HP stock soared 11% on February 9, 2005, the DAY she was fired, and increased almost three fold within three years
"Only the press cares about rich corporate types running for public office. The era of the rock start CEO is so 2006"
If you wanted to really lose competent employees, tick off customers, and denigrate your suppliers, you might displace Easter with Martin Luther King day. Well, this is exactly what Carly did. And those who predicted that HP's stock would drop 90% were wrong--it dropped 95%, and HP has never really fully recovered from that.
Why would such a failed person be such a media darling now? Why would anybody in California want her for any job, much less a politician?
The following otherwise excellent critique of jew fiorina misses a few KEY points:
Carly Fiorina: A Record Of Failure
August 20, 2009 10:27 am ET
Failed CEO Of Hewlett-Packard
As CEO of Hewlett-Packard, Carly Fiorina laid off 18,000 workers. When reflecting on her tenure, she admitted she wished she had "done them all faster."
Fiorina Fired At Least 18,000 HP Employees
Millionaire Fiorina Called the Outsourcing of American Jobs "Right Shoring." The San Francisco Chronicle reported, "Labor unions have battled 'offshoring,' which Fiorina calls 'right-shoring,' for decades, he said." [San Francisco Chronicle, 1/9/04]
Fiorina Defended The Outsourcing Of American Jobs. Investors Business Daily reported, "During their presentation, Barrett and Fiorina had to defend the tech industry for its growing reliance on overseas tech workers. IBM, Intel, Hewlett-Packard and others have moved many jobs offshore, including customer service call center operators and even engineers." [Investors Business Daily, 1/8/04]
Fiorina Laid Off Nearly 18,000 HP Workers During "Restructuring." The Omaha-World Herald reported, "Hewlett-Packard, based in Palo Alto, Calif., had a $ 903 million loss on revenue of $ 56.6 billion for its fiscal year that ended last Oct 31. According to a summary by Hoover's Inc., an Austin, Texas, provider of business information, Hewlett-Packard has undergone extensive restructuring under Chief Executive Officer Carly Fiorina. The company announced earlier this year that it planned to cut 17,900 people by October because of a weak economy and its merger with Compaq." [Omaha-World Herald, 9/29/03]
Fiorina Suggests Her Biggest Mistake Was Not Firing More People More Quickly. Fortune reported, "Fiorina does not agree, naturally, that there's been a brain drain (at HP). In fact, she believes that one lesson she's learned while running HP is that she should have moved more quickly in ejecting certain people. Smartened up now, she says, 'I would have done them all faster. Every person that I've asked to leave, whether it's been clear publicly or not, I would have done faster.'" [Fortune, 2/7/05]
Fiorina: "There Is No Job That Is America's God-Given Right Anymore." The San Francisco Chronicle reported, "Fiorina's statement that 'there is no job that is America's God-given right anymore' triggered particularly strong reaction. The pair spoke in Washington representing the Computer Systems Policy Project, a group of eight chief executives from the nation's top information technology firms." [San Francisco Chronicle, 1/9/04]
Fiorina Comments On Offshoring Enraged Workers Groups. The San Francisco Chronicle reported, "Comments made in Washington on Tuesday by Carly Fiorina, CEO of Palo Alto information technology giant Hewlett-Packard, and Craig Barrett, chief executive of Santa Clara chipmaker Intel Corp., drew an unusually strong reaction from workers, who suggested the pair forfeit their own highly paid jobs to Chinese or Russian executives working for a quarter of their pay." [San Francisco Chronicle, 1/9/04]
Enraged Workers E-Mailed Chronicle To Complain About Fiorina's Insensitive Comments. According to the San Francisco Chronicle, "But with unemployment at 7.2 percent in Santa Clara County in November, the latest figure available, Fiorina's statement hit a sore spot. 'I am curious how Ms. Fiorina would feel about her job being outsourced to China or India,' Sean Ryan of Alameda, where the county unemployment rate is 6.1 percent, wrote in a representative e-mail to The Chronicle. 'I am certain that there are many extremely bright, ambitious and successful executive types in those countries who would be able to do her job just as well if not better than she can at a cost savings to HP shareholders of millions of dollars per year.'" [San Francisco Chronicle, 1/9/04]
Centerpiece Of Fiorina's Tenure Described As "Total Flop" And "Disastrous"
Merger Failed To Produce for Shareholders, Make HP More Competitive. Fortune reported, "First, under the only lens that matters, did the famed merger that Fiorina engineered between HP and Compaq produce value for HP's shareholders? Second, with that merger nearly three years past, is HP in shape to thrive in its brutally competitive world? The answers are no and doubtful...This was a big bet that didn't pay off, that didn't even come close to attaining what Fiorina and HP's board said was in store." [Fortune, 02/07/05]
Centerpiece Of Fiorina's Tenure Described As A "Total Flop." The London Observer reported, "With hindsight, it's hard to see how Carly Fiorina, America's pre-eminent female executive, who was fired as CEO of Hewlett-Packard last week, could have survived. The centerpiece of her career - a $ 24 billion merger with Compaq - was a flop; HP's board was threatening to strip her of day-to-day responsibilities at the firm; As one of only eight women heading Fortune 500 companies, the HP/Compaq deal was Fiorina's fatal error: not just because the strategy was flawed - two years on it has not achieved its goal of improving cost efficiencies in HP's PC business - but also because she alienated too many people in the process of pursuing that goal." [London Observer, 2/13/05]
Fiorina's Personality And Management Cited For Failure. According to the International Herald Tribune, "Fiorina's personality and management style ultimately led to her demise. She used hardball tactics to suppress the opposition of Walter Hewlett, the company's largest shareholder and the son of its co-founder William Hewlett, to the 2002 Compaq merger...Last year, when the company's struggling corporate computer division failed to meet its sales growth targets, she abruptly fired three top executives in what many people, both inside and outside the company, saw as a public hanging." [International Herald Tribune, 2/12/05]
Hewlett Alleged Merger Would Result In Even More Job Losses. The Washington Post reported, "HP has said the merger would result in 15,000 layoffs. But Hewlett said in his filing that the company's management knew that it risked losing 24,000 jobs. Hewlett also referred to an internal company memo that notes that profits for the merged operation for 2002 and 2003 may be 'significantly below' the projections company executives have put before the public." [Washington Post, 3/29/02]
Legality Of Merger Challenged As Coercion & Insider Deals Alleged
Dissident Director, Co-Founder Son Walter Hewlett Sued HP Over "Illegal Merger." The Washington Post reported, "Walter Hewlett sued Hewlett Packard Co. yesterday, accusing the company of illegally strong-arming an important investor to vote in favor of its takeover of Compaq Computer Comp. The lawsuit, filed in Delaware Chancery Court, focuses on the company's interactions with Deutsche Asset Management, a unit of Deutsche Bank, which is HP's 11th-largest institutional shareholder, with a 1.31 percent stake." [Washington Post, 3/29/02]
Hewlett Alleged That Management Crossed Line To "Coercion." The Washington Post reported, "Walter Hewlett alleged in the suit that HP officials pressured the company by leading it to believe that its business with HP would be in danger if it voted against the merger. On March 15, HP secured a $ 4 billion line of credit with Deutsche Bank and several other institutions. 'The allegation is that management crossed the line from persuasion to a form of coercion,' said University of Delaware professor Charles Elson, who specializes in corporate governance issues." [Washington Post, 3/29/02]
Deutsche Bank Forced To Pay $750,000 To SEC For Conflict Of Interest Related To Merger. The Washington Post reported, "A Deutsche Bank AG unit agreed today to pay $750,000 to settle charges that it neglected to inform clients about a conflict of interest when it voted their shares in favor of Hewlett-Packard Co.'s acquisition of Compaq Computer Corp. Deutsche Bank's asset-management division initially had made up its mind to oppose the merger in 2002, but colleagues at the investment-banking division asked it to reconsider, according to the Securities and Exchange Commission, which brought the charges. The asset-management side agreed to meet with HP's chief executive Carly Fiorina and chief financial officer Bob Wayman, and after the conference announced that it had switched sides." [Washington Post, 8/9/03]
Tumultuous Tenure Marked By Backstabbing & Embarrassing Corporate Leaks
Fiorina's Tenure Marked By Leaks, Backstabbing, Embarrassing Revelations. On a trip to Davos, Fiorina learned that she had lost the confidence of the board, that her responsibilities were to be stripped, and that the Wall Street Journal had gained access to private corporate information. "It is hard to convey how violated I felt," Fiorina wrote in Tough Choices, her autobiography. "Until a board makes a decision, its deliberations are con-fi-dential. Whoever had done this had broken a bond of trust with me and every other board member....Trust is a business imperative. No board or management team can operate effectively without it." [The New Yorker, 2/19/07]
HP Board Member Tom Perkins: "Leaks Don't Happen in Stable, Happy Companies." According to The New Yorker, HP board member Tom Perkins said: "'Leaks don't happen in stable, happy companies. They're a steam valve. People talk. They're a symptom of something else.' In this case, they indicated dissatisfaction with Fiorina's leadership. In what Fiorina should have recognized as an alarming turn, the nominating and governance committee also asked Sonsini to poll directors about the effectiveness of the board and Hewlett-Packard's leadership." [The New Yorker, 2/19/07]
Fiorina Admitted To Sheltering HP Profits Overseas
During An Appearance In Milwaukee Wisconsin, Fiorina Admitted Keeping HP Profits Overseas Even Though It Hurt U.S. Economy. Discussing cash management during her tenure at HP Carly Fiorina said, "We left billions of dollars in cash overseas because of the differences in tax rates. And that inability for us to bring cash back home to this market absolutely impacted our investments in this market." [Fiorina Remarks, Milwaukee, WI]
Hewlett-Packard Held $14 Billion In Profit Overseas To Avoid Paying Taxes. The Washington Post reported, "By the end of its 2003 fiscal year, Hewlett-Packard Co. had 'indefinitely' deferred taxation on $14.4 billion of foreign earnings, according to SEC filings, a move that helped lower its effective tax rate from the statutory corporate income tax rate of 35 percent to 12 percent." [Washington Post, 1/2/04]
As Head Of HP, Fiorina Undercut U.S. Foreign Policy
Forbes: Hewlett-Packard Exported Goods To Dubai To Open Up Markets In Iran. In the April 12, 2004 issue a Forbes magazine story titled "Trading With The Enemy" reported, "If you want to get around export controls, just sell the product to a front company in Dubai. The middlemen will take it from there... Hewlett-Packard, Dell and Microsoft, among many other U.S. companies, keep Dubai offices and are favorites these days among Iranian traders in Dubai. Reason? Strong demand for 'anything high-tech for military or oil services,' says Bolurfrushan of the Iranian Business Council." [Forbes, 4/12/04]
Fiorina Was Fired By Hewlett-Packard After A Tenure Mired By Scandal, Failure & Embarrassment
February 2005: Fiorina Fired By Hewlett-Packard Board. According to the Associated Press, "Carly Fiorina's nearly six-year reign at Hewlett-Packard Co. ended abruptly Wednesday as board members forced her out, disappointed by her inability to transform a plodding technology giant dominated by printer sales into a more nimble innovator. H-P's stock, which has gone nowhere for two years and is down two-thirds from its peak in 2000, rose almost 7 percent after earlier soaring almost 11 percent on the news of her ouster." [Associated Press, 2/9/05]
Board: Fiorina Fired for Failing To Achieve Objectives. According to CBS/AP, "Board members said they fired Fiorina, one of corporate America's highest ranking female executives, because she failed to execute a planned strategy of slashing costs and boosting revenue as quickly as directors had hoped. 'She made a lot of changes, including the merger with Compaq, layoffs, and reorganizations. A lot of employees resented her leadership,' said CBSNews.com Technology Analyst Larry Magid. [CBS/AP 2/9/05]
Out Of Touch, Fiorina Described Her Relations With HP Board as 'Excellent' A Month Before She Was Fired. The International Herald Tribune reported, "Asked to describe her relationship with her board of directors, the embattled Hewlett-Packard chief executive, Carly Fiorina, replied with a single word: "Excellent." Perhaps she was in denial, or just out of the loop, but Fiorina's confrontational tenure as chief executive of the world's second-largest computer company was unraveling." [International Herald Tribune, 2/12/05]
2005: Secretive Handling Of Compaq Merger Deal A Factor That Doomed Fiorina. Fortune reported, "Meanwhile, she thinks back on the post-bubble days of 2001, when the Compaq acquisition was booting up, and argues that drastic action at HP was essential. The critical problem was buckets of red ink spilling from computers. And significantly, says Fiorina, 'neither the market nor the organization understood the difficulty HP was truly in.' She wishes now she had found some way to be more 'transparent' then about HP's problems. That would have prepared people for the merger. But candor, she maintains, would have also further damaged the company, hurting employees' confidence, sales efforts, and probably the stock price. So she kept quiet. This backward look, of course, can be viewed as somewhat suspect (or even 'self-serving,' as one institutional investor puts it), in the sense that it argues Fiorina then had to do something dramatic, like a huge merger.'" [Fortune, 2/7/05]
Fiorina Offered More Style Than Substance During Tenure As Head Of HP. According to Fortune, "In the midst of all the competitive pressures bearing down on her, and in the struggle of managing the unwieldy company she created, Carly Fiorina sometimes talks as if she sees a vision all her own. She hauls it out in the opening lines of internal speeches, articulating her goal of making HP 'the world's leading technology company.' The ambition is a curiosity rouser because it implies that she has firmly in mind what company right now holds that title. But that turns out not to be true. ... But then, you wonder, if she doesn't know who the leader is now, how would she know whom HP has to pass and when to claim victory?" [Fortune, 2/7/05]
McCain 2008 Presidential Campaign
Fiorina Tapped To Head The RNC Victory Fund & Advise McCain On The Economy
Fiorina The Public "Face" Of The McCain Economic Team. The Washington Post reported, "Gramm, as a former Senate colleague, has an older, deeper connection to McCain, but Fiorina may soon be more closely identified with him. Since McCain installed her last month at the Republican National Committee, the once-high-flying chief executive has held conference calls, made near-daily television appearances and become the face of McCain's economic team." [Washington Post, 1/2/08]
Fiorina Tapped To Head the RNC Victory Fund, Work Closely With McCain. According to National Journal's CongressDaily, "Carly Fiorina, the former chief executive officer of Hewlett-Packard and Frank Donatelli, a lobbyist and former White House political director under President Reagan, will work closely with the McCain campaign. Fiorina will oversee the RNC Victory fund, the entity that historically has raised money for voter-turnout and party-building efforts to support the party's presidential nominee and other GOP candidates nationwide." [National Journal, 3/7/08]
Fiorina Removed As Public Face Of McCain Campaign For Making Numerous Mistakes
CNN: Fiorina Benched Because Of Repeated Gaffes. According to CNN, "Top McCain-Palin official Carly Fiorina is facing criticism from some within the campaign for a day of what they call 'very Biden-like' comments...Another top campaign adviser was far less diplomatic. 'Carly will not disappear,' this source said. 'Senator McCain was furious.' Asked to define 'disappear,' this source said, adding that she would be off TV for a while - but remain at the Republican National Committee and keep her role as head of the party's joint fundraising committee with the McCain campaign." [CNN, 9/16/08]
[Washington Independent, 7/9/08; YouTube link]
Wrong, Wrong, Wrong: Fiorina Repeatedly Misleads, Deceives, Or Flubs The Facts
Fiorina Flubs McCain's Record On Choice. According to the San Francisco Chronicle, "Fiorina made the comments - reported by the Washington Post - during a speech about women and health insurance, in which she argued that 'many health insurance plans cover Viagra but won't cover birth-control medication. Those women would like a choice.' Keenan said a McCain presidency would offer women no such choice. 'Obviously, she doesn't know his record,' she said. 'He really did vote against a proposal that would have required insurance companies' to cover prescription contraception in the same way they pay for Viagra." [San Francisco Chronicle, 7/10/08]
Scathing Criticism Of Fiorina's Economic Deceptions. The San Francisco Chronicle reported that Fiorina "was lambasted" for saying "that if the Bush's tax cuts are repealed as Senator Obama has proposed '23 million small businesses will see their taxes raised.' That's because '23 million small businesses file their income tax as individuals. And so, when Barack Obama blithely says only the wealthiest are going to be taxed, he is ignoring the fact that 23 million small businesses file as individuals,' she said." [San Francisco Chronicle, 7/10/08]
McCain: Americans Should Be Offended By Lavish CEO Pay, Golden Parachutes
McCain Said Americans Ought to Offended By CEO Pay and Golden Parachutes. During a speech on the economy, Senator McCain said: "Americans are also right to be offended when the extravagant salaries and severance deals of CEO's - in some cases, the very same CEO's who helped to bring on these market troubles - bear no relation to the success of the company or the wishes of shareholders." [McCain Economy Speech, 4/15/08]
Despite Being Forced Out, Fiorina's Severance Package Reportedly More Than $42 Million. According to CNN Money, "Ex-Hewlett-Packard CEO Carly Fiorina will get a severance package worth about $21.4 million, but stands to reap another $21 million after she was forced out by the computer maker's board last week, a newspaper reported Saturday. The additional amount reflects the estimated value of her Hewlett stock and options as well as her pension, which were not included in her severance package, the New York Times reported." [CNN Money, 2/12/05]
Fiorina Said Iraq Had Nothing To Do With Economic Malaise
Fiorina Suggested Iraq War Had Nothing To Do With Current Economic Crisis. During an appearance on the MSNBC's "Morning Joe," Fiorina suggest the war in Iraq had nothing to do with our current economic crisis. "There's no question that the Iraq War is costing us a lot of money," Fiorina replied. "But it's also the case that the housing crisis has nothing to do with the Iraq War. High fuel prices have nothing to do with the Iraq War, per se. And high food prices, in particular, have nothing to do with the Iraq War. ... It's not fair ... to try and make the Iraq War the cause of our current economic difficulties." [MSNBC, "Morning Joe," 4/7/08]
Fiorina Said McCain Supports Privatizing Social Security
Fiorina Said McCain Supported 'Private Accounts for Reforming Social Security. During an appearance on the Bill Bennett Show, Fiorina said McCain was supportive of Social Security privatization. "Well, I know that he has been very favorably inclined to the report that came out a little bit ago, the Republican party made a number of suggestions which he embraced. He has on other occasions said that he supports private accounts as one of the ways to reform the system. But I think he, and I think he will continue to be supportive of those." [Audio via Think Progress, 4/17/08, emphasis added]
–Media Matters Action Network
A $160 billion loss to stock holders gives Fiorina 6th place as Industries' Biggest Flop!
Finally, Jan. 22, 2008, The Industry Gives Fiorina the Recognition She Deserves--6th Place as the Industries' Biggest Flop
"6. Carly Fiorina. Call her the anti-Steve Jobs. During her 1999-2005 tenure as CEO of Hewlett-Packard, Carly Fiorina proved that she could reverse decades of geek goodwill and alienate customers like no one else. She oversaw the spin-off of HP's well-respected instruments and medical equipment business, outsourced its beloved calculator division, then issued 7,000 pink slips. Under Fiorina's tenure, HP brought in more profits from printer ink than PCs. But she'll be remembered most for HP's acquisition of Compaq, among other dubious efforts to give the "stodgy" HP a more consumer-friendly face (does anyone remember the licensed iPods?)."
But this is a bit understated:
For example, Windows Vista is in 2nd place. That's nice, it has had it's problems. This author gave up on running it on laptops and swore to never use it again. In the last year, though, the percent of hits on our web sites from Vista users jumped from 2% to 20%, a trend exactly the reverse of Firoina's, which will make even more money for Microsoft than the whopping hundreds of billions of dollars of losses Fironia handed to HP, making Gates even richer and Fiorina even sillier.
It still sticks in my craw that Enron, whose employees ultimately lost a paltry $4 billion, was the media whipping boy for hi tech swindles while there was NO media coverage for Carly who swindled FORTY TIMES as much. Oh, but you say, Enron "cheated" its employees [and California governor (dull) Gray], while Carla merely made "mistakes". No, it was CHEATING to treat Jesus with such disrespect as to abolish such an important Remembrance of Him, and particularly to displace Him with a card carrying communist [not to mention nigger].
To their credit, Carly was the ONLY one of the 25 flops of the century which was a PERSON--the rest were industries or products--putting Carly in first place in my mind.
Hewlett, Packard Oppose Compaq Buy
By BRIAN BERGSTEIN, AP Business Writer
PALO ALTO, Calif. (AP) - Even before this week, Hewlett-Packard chairwoman and chief executive Carly Fiorina was fighting hard to win support for her $21 billion plan to acquire Compaq Computer Corp.
Now matters have gotten even more difficult for her - with the sons of the company's legendary founders blasting the deal and the company's biggest shareholder, the Packard family foundation, undecided about how to vote.
Fiorina faces the increasing possibility the acquisition will fall through, putting her job at risk. And even if HP shareholders do vote for the deal, her leadership has been questioned at a difficult time.
"Clearly it's a lot more challenging now," said Toni Sacconaghi, an analyst with Sanford Bernstein & Co.
"Not only do (the Hewlett and Packard sons) have voting power, they have influence power because they are the family and the founders are fairly highly revered. More importantly, it sets in motion a more open forum for other shareholders to start voicing their opinion about the deal."
First Walter B. Hewlett, speaking on behalf of family interests that own more than 5 percent of HP stock, said Compaq would give HP too much exposure to low-margin personal computers and dilute its valuable printing franchise. Hewlett, the oldest son of co-founder William Hewlett, is a member of HP's board.
Then co-founder David Packard's son, David W. Packard, whose Packard Humanities Institute has 1.3 percent of HP's shares, said he agreed, and sharply criticized HP's Fiorina approach to running the company.
"For some time I have been skeptical about management's confidence that it can aggressively reinvent HP culture overnight - a culture that developed over many years and was thoroughly tested under all kinds of business conditions," Packard said. "While change is necessary and inevitable, it does not follow that every innovation is an improvement."
David W. Packard is not on the board of the charitable foundation his parents launched in 1964, which owns more than 10 percent of HP stock, making it the largest shareholder. Two sisters are on the board, however.
That organization is still undecided about the Compaq acquisition. The stakes are huge - roughly $4 billion of the foundation's $5 billion in assets are tied up in HP stock.
Analysts say that if Hewlett and Packard family holdings are voted against the deal, the chances of approval would drop significantly. A date for a shareholder vote has not been set.
George Vera, the Packard Foundation's chief financial officer, said he expects the organization will take at least a month to make its decision, in consultation with outside advisers.
HP shares fell 3 percent, or 63 cents, to $19.18 Wednesday on the New York Stock Exchange. Compaq shares lost 6 percent to close at $7.99.
HP's full board of directors, except for Walter Hewlett, released a statement Wednesday saying it "unequivocally" backs Fiorina. Compaq's board also reiterated its support for the deal.
"The board thoroughly analyzed this transaction and unanimously concluded this is the very best way to deliver the value our shareowners expect," said Dick Hackborn, HP's former chairman and executive vice president - and a member of the Hewlett family foundation's board.
That and similar emphatic statements from HP's directors have led Sacconaghi to believe that Fiorina's job would not necessarily be in jeopardy if the Compaq deal falls apart.
Fiorina did not discuss this week's developments during a speech Wednesday in Los Angeles, though she said in response to an audience question that she is more focused on ensuring HP's long-term financial health than on short-term issues.
"Doing that requires the courage of one's convictions, but's that's also the CEO's job," she said. She declined to comment to reporters afterward.