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IBM CEO Samuel Palmisano slams Hewlett-Packard's (HPQ) decision to spend heavily to acquire 3Par...

IBM CEO Samuel Palmisano slams Hewlett-Packard's (HPQ) decision to spend heavily to acquire 3Par (PAR) and pay a hefty severance to former CEO Mark Hurd. Palmisano expresses scorn for companies that have slashed investments in core technology, saying H-P "had no choice" in overpaying for 3Par because Hurd had cut all R&D.
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Comments (2)
  • inthemoney
    , contributor
    Comments (981) | Send Message
     
    Yep, exactly. R&D spending before Hurd was 5-7%, and Hurd slashed it to 1-2%. Voila! Earnings go up, stock goes up,everybody is happy. Except then HP as to buy Palm, 3Par and what not. The same thing happened at Dell a couple years earlier and where is Dell now?
    14 Sep 2010, 03:50 PM Reply Like
  • Rhianni32
    , contributor
    Comments (2044) | Send Message
     
    Its good to see some other CEOs talk about what Hurd really did and not give him praise like he was the greatest CEO of all recorded history.
    14 Sep 2010, 04:36 PM Reply Like
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