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  •  Fiorina was the person that moved me way left (5+ / 0-)

    I worked for HP from 1995 - 2001.  HP was an impressive company under the last CEO, Lew Platt.  However, the board in their misguided wisdom, thought his successor should come from outside the HP culture - big mistake.  The motivation came from the perception that HP wasn't growing fast enough and/or being profitable enough (sound familiar - this was a symptom of the bubble mentality that led to the dotcom meltdown).

    Fiorina came from Lucent, a former part of AT&T.  She booked impressive numbers on product shipment, later found out to be of dubious accuracy since she lent out or gave gratis to emerging dotcom businesses free equipment that she booked as regular sales.  That should have gotten her in trouble but being a shrewd company politican (incidentally, as the wife of a highly placed AT&T executive, she leveraged that fact to climb within AT&T and when Lucent was spun off, began her rise to the boss of Lucent) deceived and delayed this until she had an offer from HP.

    The board was impressed by her flim-flam and offered her an unprecedented (for HP) compensation package including making her whole on her Lucent stock options (which went way south when her accounting practices came to light).

    At HP, she consistently overpromised and underdelivered for quarter after quarter.  Sensing this, she chose to fabricate a crisis in the company's expense structure and summarily fired over 20000 employees including yours truly.  Then she went for the home run, acquiring Compaq/Digital essentially buying an overlapping business competitor resulting in product redundancies.  Obviously, many more people from Compaq and HP were laid off.

    The board finally tired of her shtick and forced her out but not before she extracted yet more largess in the form of a golden parachute.  All told, she is estimated to have received over $125 million from HP leaving it a wreck in the aftermath of the dotcom crash.

    Ever since, I have hated these 'rock star', overly compensated and inadequately accountable executives.  They provide no real value and true to form, most are Republicans.  Fiorina is just one of many, I'm sure, who have made their fortunes on the back of good workers and then kicked them to the curb.

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