HPQ shares jumped more than they have any day since 2002, after CEO Mark Hurd announced a fourth quarter profit of $1.03 per share, three cents above Bloomberg's compiled estimate. H-P nonetheless will extend its holiday vacation for employees from one week to two to cut costs. The best analyst quote is the simplest: "Despite worries about an economic slowdown, the company can still grow earnings." So what's your excuse?
Click to viewBenchmark-backed Glassdoor.com popped out of stealth mode as a site that lets users find out what employees think of their employers. As a part of the ratings, company CEO's get a grade. Some, such as Cisco's John T. Chambers and Apple's Steve Jobs fared very well — coming away with 93 percent and 95 percent approval ratings. Others, including Microsoft's Steve Ballmer and Yahoo CEO Jerry Yang, did not. The ten worst-rated CEO's and what employees told Glassdoor they think about them, below.
Hewlett-Packard has software to automate datacenters; EDS has datacenters which need automating. That's part of the logic behind HP's $13.9 billion acquisition of the tech-services business. The deal proves that Marc Andreessen is prescient. After he sold Netscape to AOL, Andreessen launched LoudCloud, a website-hosting business powered by advanced software. In the wake of the bust, Andreessen sold the hosting part of the business to EDS, and relaunched the company as Opsware, the name of its automation software. HP bought Opsware last year. While reuniting LoudCloud's constituent parts isn't the reason why Mark Hurd is doing the deal, he is proving that Andreessen's early vision of combining software and services was on the money. Timing is everything.
BusinessWeek's Spencer Ante has another interview outtake with former Hewlett-Packard board member and Kleiner Perkins cofounder Tom Perkins. In it, Perkins explains how he helped turn around HP. Here's the 100-word version of the harrowing tale of board committees, patent policies and microprocessors oh my!
"Good news is we're a $100 billion company. Bad news is we're a $100 billion company." - HP CEO Mark Hurd at Fortune's iMeme
By Theo DP
Q. How do you get tough on privacy breaches?
A. Appoint a watchdog who isn't sure they should be penalized!
When Hewlett-Packard admitted that the company tried to spy on and misinform journalists at CNET, the New York Times, and other papers, the media was, well, not amused. The upshot is that we all get to see the opposition writing guest editorials in major papers. The lawyer for ex-HP board member Tom Perkins (who resigned when he discovered HP's investigators spied on him) tells the Wall Street Journal:
Hewlett-Packard CEO Mark Hurd, now under suspicion for cooperating with chairwoman Patricia Dunn's investigations of board members and reporters, is now the chairman of HP, he announced today. Dunn has resigned from the board — a move that was inevitable eventually, but few thought would happen while the scandal was still fresh in the media.
- When Hewlett-Packard hunted for the board member who leaked info to CNET, they created a fake HP executive, "Jacob," to tip CNET writer Dawn Kawamoto.