Reactions out there.... McNamee, you might
recall, was the guy who
rescued Palm before HP rescued him.
This clip re HP is on CNBC at http://www.cnbc.com/id/102062097
The clip of McNamee explaining how cool the Palm Pre
is to
the Wall St. Journal seven years ago is at:
http://www.wsj.com/video/d7-video-roger-mcnamee-and-jon-rubinstein-
on-the-palm-pre/106DC3C8-EC62-426C-BE1F-C2C73E79E101.html
HP has the agility of 'a bag of cement': McNamee
Drew Sandholm
| @drewsandholm 6 Hours Ago CNBC.
Hewlett-Packard's plans to split into two companies is too
little, too
late, technology investor Roger McNamee said
Monday.
"They have all the agility of a bag of
cement," McNamee,
co-founder of Elevation Partners, said on "Squawk Alley."
"It seems to me they've been at least two, maybe three years
behind every
important trend."
Rival IBM, on the other
hand, divested PCs and servers
years ago on the realization these businesses
have little
growth potential, McNamee said.(he's omitting the fact that
IBM was 4th in a field of 3, losing money on PCs, when they
divested; HP has been 1 or 2 for a decade, making fair $$)
"In fairness, I think HP has been
horribly managed for
20 years (so he indicts Lew Platt quite as much as Carly
Fiorina, etc) and, you know, so
[CEO] Meg Whitman didn't
inherit a great situation, but I don't think there's any evidence
that she's
gotten control of it, that she has any idea what they
ought to do next,"
he said. "I don't see any plan for either side
of these things that's
going to make a difference to
shareholders... the long-term outlook for both
sides of this
business is terrible."
On the tape, McNamee assails the plan because
more execs
will milk more money from the treasury.
He should know, he got plenty from HP at a time that Palm's
old boss, Todd Bradley, took home $27M to
run PCs for a year.
for HP--a year that Hurd and three others milked $110M in
salaries and perks from a company they stole blind.
Earlier, Hewlett-Packard surged after saying
it would split its
hardware and services businesses from the personal-computer
and printer business, forming two publicly traded companies.
"We think this is the best tactic to
continue this turnaround
journey and position HP into two great new companies
that
are real scale and have a real chance to make a real
difference on a
go-forward business," Whitman said on
"Squawk on the Street."
"We're really excited
about this," she said. "I think it's going
to be better offerings for
customers and partners, career
opportunities for employees and we believe it
will create
real shareholder value."
Reactions out there.... McNamee, you might
recall, was the guy who
rescued Palm before HP rescued him.
rescued Palm before HP rescued him.
This clip re HP is on CNBC at http://www.cnbc.com/id/102062097
The clip of McNamee explaining how cool the Palm Pre
is to the Wall St. Journal seven years ago is at:
is to the Wall St. Journal seven years ago is at:
http://www.wsj.com/video/d7-video-roger-mcnamee-and-jon-rubinstein-
on-the-palm-pre/106DC3C8-EC62-426C-BE1F-C2C73E79E101.html
on-the-palm-pre/106DC3C8-EC62-426C-BE1F-C2C73E79E101.html
HP has the agility of 'a bag of cement': McNamee
Drew Sandholm
| @drewsandholm 6 Hours Ago CNBC.
Hewlett-Packard's plans to split into two companies is too
little, too late, technology investor Roger McNamee said
Monday.
little, too late, technology investor Roger McNamee said
Monday.
"They have all the agility of a bag of
cement," McNamee,
co-founder of Elevation Partners, said on "Squawk Alley."
"It seems to me they've been at least two, maybe three years
behind every important trend."
co-founder of Elevation Partners, said on "Squawk Alley."
"It seems to me they've been at least two, maybe three years
behind every important trend."
Rival IBM, on the other
hand, divested PCs and servers
years ago on the realization these businesses
have little
growth potential, McNamee said.(he's omitting the fact that IBM was 4th in a field of 3, losing money on PCs, when they
divested; HP has been 1 or 2 for a decade, making fair $$)
"In fairness, I think HP has been
horribly managed for
20 years (so he indicts Lew Platt quite as much as Carly
Fiorina, etc) and, you know, so [CEO] Meg Whitman didn't
inherit a great situation, but I don't think there's any evidence
that she's gotten control of it, that she has any idea what they
ought to do next," he said. "I don't see any plan for either side
of these things that's going to make a difference to
shareholders... the long-term outlook for both sides of this
business is terrible."
20 years (so he indicts Lew Platt quite as much as Carly
Fiorina, etc) and, you know, so [CEO] Meg Whitman didn't
inherit a great situation, but I don't think there's any evidence
that she's gotten control of it, that she has any idea what they
ought to do next," he said. "I don't see any plan for either side
of these things that's going to make a difference to
shareholders... the long-term outlook for both sides of this
business is terrible."
On the tape, McNamee assails the plan because
more execs
will milk more money from the treasury.
He should know, he got plenty from HP at a time that Palm's
old boss, Todd Bradley, took home $27M to run PCs for a year.
for HP--a year that Hurd and three others milked $110M in
salaries and perks from a company they stole blind.
will milk more money from the treasury.
He should know, he got plenty from HP at a time that Palm's
old boss, Todd Bradley, took home $27M to run PCs for a year.
for HP--a year that Hurd and three others milked $110M in
salaries and perks from a company they stole blind.
Earlier, Hewlett-Packard surged after saying
it would split its
hardware and services businesses from the personal-computer
and printer business, forming two publicly traded companies.
hardware and services businesses from the personal-computer
and printer business, forming two publicly traded companies.
"We think this is the best tactic to
continue this turnaround
journey and position HP into two great new companies that
are real scale and have a real chance to make a real
difference on a go-forward business," Whitman said on
"Squawk on the Street."
journey and position HP into two great new companies that
are real scale and have a real chance to make a real
difference on a go-forward business," Whitman said on
"Squawk on the Street."
"We're really excited
about this," she said. "I think it's going
to be better offerings for customers and partners, career
opportunities for employees and we believe it will create
real shareholder value."
to be better offerings for customers and partners, career
opportunities for employees and we believe it will create
real shareholder value."
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