The Fiorina Fallacy

  • Job Creator: Dude, not unless you mean jobs created in India. As CEO of HP from ’99 to ’05, Carly Fiorina layed off thousands of workers and outsourced them to India.
  • Business acumen: Compaq? Compaq for x-‘sake! Such a deal. She nearly took HP under. Her successor turned that around.
  • For the shareholders: A worse performance than my 401-k: HP stock was at $52 per share when she took the reins and at $21 a share when they ‘parted ways’. HP stock jumped 7% just on the news that CF would no longer be running the Pack into the ground. What color was her golden parachute?
  • Respected leader: What’s she been doing since? No company hired her, despite her ‘vast’ experience. John McCain’s economic advisor? Now there was a debacle that erased the memories of HP. With advisors like that…
  • HP’s mission statement: “”HP selects and manages its businesses with a goal of providing long-term employment for its people and opportunities for personal growth and development. In return, HP people are expected to meet certain standards of performance on the job, to adjust to changes in work assignments and schedules when necessary, and to be willing to learn new skills and to apply them where most critically needed.” Fiorina’s grand plan on acquiring Compaq was to eliminate 15,000 jobs.
  • Carly Failorina dot com notes her as the 19th worst CEO of all time, yet she will campaign on her good business sense and her ability to get America back to work.

Meg Whitman (shEBay), by the way, has a lot more cred regarding her business acumen than Fiorina. But just to be sure she’ll just buy the damn thing. At a record setting spend of $81Million, she spent $71 per vote in her primary election win. Jerry Brown? Luv ‘ya baby, but good luck.

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