Hubris Fails Yet Again

9 February 2005, 08:15

Carly Fiorina has resigned from HP. Some reports say she stepped down, while others indicate she might have been helped down from her perch high atop HP.

This follows a feud with heirs of HP’s founders, a lackluster acquisition of Compaq, countless service problems and Carol Loomis’s masterpiece in Fortune. Now a dispute with the Board apparently leads to this. We can only hope this marks the point at which the company begins revising The HP Way.

UPDATE: HP closed up $1.39 at $21.53. Dell closed down $0.03 at $40.99. IBM closed down $1.43 at $92.70. The companies’ P/E ratios using the last twelve months of earnings and their annual sales are:

  • HP – 18.72; $79.90B
  • Dell – 33.88; $47.26B
  • IBM – 18.72; $96.50B

HP and IBM pay dividends. Dell does not. We’ll see how things look over the next five or ten years.

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