Lucille
09-17-2015, 03:40 PM
https://pbs.twimg.com/media/CMClfoNWIAAfmp8.jpg
https://www.lewrockwell.com/political-theatre/crony-carly/
But Fiorina better be careful because her biggest business achievement, CEO of Hewlett-Packard, is widely regarded as a disaster.
She has been frequently called out as one of the "worst" CEOs.
In an article about worst CEOs in USA Today in 2005, Yale business Professor Jeffrey Sonnenfeld said that Fiorina was "the worst because of her ruthless attack on the essence of this great company. ... She destroyed half the wealth of her investors and yet still earned almost $100 million in total payments for this destructive reign of terror."
[...]
We reached out to Sonnenfeld, who is still at Yale — he's a senior associate dean — who told us he stands by his opinion.
"Yes — I stand by what I said," he said. "The only things I would add are ... the board’s wisdom in her unanimous firing was vindicated by the fact that there has been no exoneration or contrition."
Sonnenfeld also told us that, while Fiorina was at HP, "virtually everything she bought ... has been shuttered or divested." He pointed out — emphasis his — that "She has NEVER been offered another CEO position in the decade since."
He also contends that she was asked to leave Taiwan Semiconductor's board in 2009 "as she only attended 17 percent of their board meetings" — something he has noted publicly before.
[...]
But even her time a Lucent was controversial, Arik Hesseldahl of Re/Code points out.
As a sales leader, she was knee-deep in Lucent's aggressive lending practices, loaning money to customers to buy Lucent equipment, Hesseldahl reports. A few years after she left, Lucent crashed big, not helped by $7 billion in loans to customers — some of which were out of business.
[...]
There's another problem with her growth: She bought it. She didn't organically grow HP's business.
As Andrew Ross Sorkin of The New York Times wrote in a column recently: "Here's the problem: Those numbers she is referencing aren’t Hewlett-Packard's profit. They are the company's revenue. And if you make enough acquisitions — especially one the size of Compaq — you can inflate your revenue figures. You can also buy growth."
Growing revenue through acquisitions isn't the worst thing in the world. Businesses do it all the time. It's smart management.
But Fiorina is running on a platform of cutting down the size of the government. There's no smaller nation she can go out and buy to grow the US's GDP.
https://www.lewrockwell.com/political-theatre/crony-carly/
But Fiorina better be careful because her biggest business achievement, CEO of Hewlett-Packard, is widely regarded as a disaster.
She has been frequently called out as one of the "worst" CEOs.
In an article about worst CEOs in USA Today in 2005, Yale business Professor Jeffrey Sonnenfeld said that Fiorina was "the worst because of her ruthless attack on the essence of this great company. ... She destroyed half the wealth of her investors and yet still earned almost $100 million in total payments for this destructive reign of terror."
[...]
We reached out to Sonnenfeld, who is still at Yale — he's a senior associate dean — who told us he stands by his opinion.
"Yes — I stand by what I said," he said. "The only things I would add are ... the board’s wisdom in her unanimous firing was vindicated by the fact that there has been no exoneration or contrition."
Sonnenfeld also told us that, while Fiorina was at HP, "virtually everything she bought ... has been shuttered or divested." He pointed out — emphasis his — that "She has NEVER been offered another CEO position in the decade since."
He also contends that she was asked to leave Taiwan Semiconductor's board in 2009 "as she only attended 17 percent of their board meetings" — something he has noted publicly before.
[...]
But even her time a Lucent was controversial, Arik Hesseldahl of Re/Code points out.
As a sales leader, she was knee-deep in Lucent's aggressive lending practices, loaning money to customers to buy Lucent equipment, Hesseldahl reports. A few years after she left, Lucent crashed big, not helped by $7 billion in loans to customers — some of which were out of business.
[...]
There's another problem with her growth: She bought it. She didn't organically grow HP's business.
As Andrew Ross Sorkin of The New York Times wrote in a column recently: "Here's the problem: Those numbers she is referencing aren’t Hewlett-Packard's profit. They are the company's revenue. And if you make enough acquisitions — especially one the size of Compaq — you can inflate your revenue figures. You can also buy growth."
Growing revenue through acquisitions isn't the worst thing in the world. Businesses do it all the time. It's smart management.
But Fiorina is running on a platform of cutting down the size of the government. There's no smaller nation she can go out and buy to grow the US's GDP.