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Marketmaster098

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  • Todd Bradley, the well-respected head of H-P's (HPQ +1%) PC/printer unit, is leaving that position to head H-P's Chinese ops and work on expanding its global channel partner deals (his official title will be EVP, Strategic Growth Initiatives). Asia-Pac PC/printer chief and former Lenovo exec Dion Weisler will take over Bradley's current job. The shakeup follows a quarter in which H-P's PC sales fell 20% Y/Y, and more share was lost to Lenovo. Printer sales fell 1%, an improvement from recent quarters. Bradley's name has occasionally come up when high-profile job openings at rivals are discussed. [View news story]
    The change illustrates the on-going problem at HP. The same people that have been on board during the decline and in many cases contributed to it, are to now fix it.

    Meg mentioned that one of her key metrics of her success was the the number of VP's that remained at HP. Again a huge problem - many of the VP's at HP ARE THE PROBLEM.

    Until Meg realizes that in many cases she has senior managers working at HP that are only able to focus on what is good for themselves and not the good of HP she will not get different results. She still has Hurd's minions embedded in places where they have created their little kingdoms to protect their incompetence - some in APJ - where performance is no where near acceptable.

    You cannot get different results with the same people.
    Jun 18, 2013. 12:01 PM | 2 Likes Like |Link to Comment
  • Hewlett-Packard's Second Quarter Earnings Preview [View article]
    Those of us that know HP from the inside can tell you that nothing has really changed from two years ago. While the AR/PR spin has been more positive the fundamental processes inside HP remain at best inefficient. Overall employees are burned out and doing nothing more than "holding on". In the words of one employee, "I just do conference calls all day and so I look busy. We cannot really "do" anything."

    Another major concern is that Senior Management seems to be compromising on the Standards of Business Conduct (SBC). VP's are allowed to be "creative" in their numbers. And in the area of HR the same VP's are allowed to eliminate any employee that actually gets things done - so they protect their turf.

    Overall anyone who thinks HP is any different that it was two years ago is simply drinking the Kool-Aid.

    Those of us inside are tired of the Kool-Aid.
    May 21, 2013. 01:12 PM | Likes Like |Link to Comment
  • Year-End Bounce Candidates: Losers Become Winners (At Least For A While) [View article]
    The bounce HPQ will get is DOWN. Ink in Office is not getting any traction, MPS needs a leader that actually has real world expereince and does not just create smoke and mirrors to make themselves look good.
    Dec 13, 2012. 10:40 AM | Likes Like |Link to Comment
  • HP's Whitman Running Out Of Excuses And Running Out Of Time [View article]
    You cannot get different behavior from the same people that caused the problem. And you cannot succeed when they deny reality and do only those things that make you look good personally. Until that is fixed things will not change. You cannot throw out those that know more about the business than those that remain and succeed.
    Nov 20, 2012. 12:12 PM | 3 Likes Like |Link to Comment
  • The fireworks have commenced over H-P's (HPQ -10.4%) Autonomy write-down and fraud accusations. Leo Apotheker, CEO when the Autonomy deal (controversial from the start) was pushed through, insists H-P's due diligence was solid. Fired Autonomy CEO Mike Lynch unsurprisingly denies everything. Meg Whitman, who voted for the deal as a board member, effectively threw Apotheker and former strategy chief Shane Robison under the bus during H-P's earnings call. H-P execs claim both Autonomy's revenue and margins were inflated by hardware deals. [View news story]
    Can we now say..."we told you so"...look at the bad news on the printers as well.
    Nov 20, 2012. 12:06 PM | 1 Like Like |Link to Comment
  • Whitman Outlines HP's 5-Year Recovery Plan, Promises Growth By 2015 [View article]
    Today it was clear that there is nothing short term to be positive about HP. In fact it looked like a FUNERAL. Sad faces, no smiles and lots of "we think or "we hope". The audience did a good job of asking very pointed questions. The responses were lacking...again too much we think or we hope. Sorry state of affairs.
    Oct 3, 2012. 04:20 PM | Likes Like |Link to Comment
  • H-P (HPQ -5.4%) dives as its analyst day gets underway (live blog, webcast). Meg Whitman has declared FY13 to be a "fix and rebuild" year that will see a broad-based profit decline (centered around enterprise services), and has again made cautious remarks about European and Chinese demand (previous). Analysts currently expect H-P's FY13 EPS to rise slightly. Streamlining H-P's product line is named a priority: the company plans to halve its printer SKUs next year. [View news story]
    why dont you ask about the detail on this "big bet on INK?" Page wide array (PWA) was a 2 billion dollar mistake. all they are betting that they can relaunch PWA because the MFP laser jet pipe is EMPTY. now HP thinks that reconfiguring PWA into smaller devices is going to redeem the loss? not in million years and not in the next 5 either.
    Oct 3, 2012. 12:29 PM | 1 Like Like |Link to Comment
  • Low Expectations Make HP A Buy Before Analyst Day [View article]
    HP is a mess internally. Cutting headcount has killed customer services. People with two jobs now have 3 or 4 jobs and cannot do any of them well.

    PPS MES MPS leadership is producing the same vapor ware smoke and mirrors - from the same VP’s & VPGM's. It is amazing to think you get different results out of the people that have not produced and have barely been able to manage a business to make maybe a nickel and have only been in the printing business for 5 or 6 years.

    Employees are paralyzed not knowing if they will be cut in the next 14 months - many out looking for new jobs or moon lighting on HP time somewhere else just in case.

    If you are in the meetings this week you better ask HP to show me NOW (not give me a bunch of “projected launches”) and PROVE IT - otherwise it is just slide ware and wagging tongues.
    E
    Sep 29, 2012. 11:08 PM | Likes Like |Link to Comment
  • More on H-P's FQ3: PC revenue -10% Y/Y (not quite as bad as Dell) vs. flat growth in FQ2. Desktops -6%, notebooks -12%, both consumer and business sales fell. Printing -3%, better than FQ2's 10% drop, op. margin improved 260 bps. Services -3% (-1% prior), enterprise hardware -4% (-6% prior) with rising networking sales offset by server/storage drops (share loss). Software +18% (+22% prior), boosted by Autonomy, but license growth only 2%. $365M in shares repurchased. HPQ +2.5% AH. CC at 5PM ET (webcast). (PR[View news story]
    Autonomy DOWN 4%; Printing DOWN 3%; Services DOWN 3%; Desktops DOWN 6%; Notebooks DOWN 12%; Enterprise Hardware DOWN 4%; Consumer DOWN; Enterprise DOWN; Server/Storage DOWN

    Is HP at the bottom..Does not look like it. Is Meg getting different behavior from those left over from the last 5 years? Nope. $365 Million spent on stock buy back and 4000 fewer paychecks..Did not help much. $8 Billion written off...Did it help? Only to make the numbers "less worse" than they would be. Do we expect anything different next quarter? Nope. Q3 is usually HP's worst.
    Aug 22, 2012. 06:37 PM | Likes Like |Link to Comment
  • "The content that was once printed for distribution or portability is now simply being distributed or shared electronically," writes Deutsche's Chris Whitmore, summing up the long-term threat the printing industry is staring at. Whitmore estimates top vendors, including H-P (HPQ), Lexmark (LXK), and Xerox (XRX), have seen their sales fall at a 6% annual clip over the last 10 quarters. The depressed valuations assigned to the group show Whitmore is far from alone in being this pessimistic.  [View news story]
    Stuffing the Channel is not a new practice. Has been used for years. Todd Bradley is just learning how to do it with printers.
    Aug 9, 2012. 11:03 AM | Likes Like |Link to Comment
  • Why I Still Have Faith In Hewlett-Packard [View article]
    $8 Billion here (writedown) another $6B there...layoff another 20,000 here, another 10,000 there. Now you know the "strategy" of this company. It should be a strategy of removing those who have created this problem. HP has too many at the VP level that see HP as nothing more than too stupid to figure out that all they are doing is feeding off the chaos...Nothing more.
    Aug 9, 2012. 10:50 AM | Likes Like |Link to Comment
  • Why I Still Have Faith In Hewlett-Packard [View article]
    "HP clearly has more problems than its competitors" - is the only part of this article that has validity.

    PS - faith is not a strategy
    Aug 7, 2012. 04:56 PM | Likes Like |Link to Comment
  • HP Blows Its Last Shot At Open Source Credibility [View article]
    Get ready for a sub $15.00 HP share price. You can not get different behavior - or results - from the same guys who created the problems. Until Meg gets VP's that will not create numbers that just make them look good she will never know what reality is...or know how to deal with it. The old buddies of Mark Hurd are not doing her any favors.
    Aug 2, 2012. 02:30 PM | Likes Like |Link to Comment
  • Buffett Erred In Buying IBM, Should Have Bought Xerox Or HP [View article]
    Buffett was very smart to avoid HP - down 25% just this year and headed lower. The comment about how he trusts leadership is right on. At HP you have and EC that still has not been able to see through the "slideware" that they get from VP's and SR VP's that is better described as "vaporware". Some "data" and "solutions" reported by some in the old IPG group is better classified as "smoke and mirrors" but if you know less about the business than those blowing the smoke you get fooled. Currently moral is at an all time low and going lower in some groups...but it is always someone else's fault - not the VP or VP/GM. Buffett knew what he was avoiding.
    Jul 20, 2012. 05:07 PM | 1 Like Like |Link to Comment
  • Lexmark (LXK -16.3%) closes at multi-year lows thanks to an ugly Q2 warning. Goldman (Sell) is taking a hammer to its 2013 and 2014 estimates, declaring the headwinds to Lexmark's high-margin printing supplies business to be worse than feared. Though no full-year guidance revision was provided, Brean Murray thinks 2012 EPS could be around $4, compared with prior guidance of $4.70-$4.90 - that still gives Lexmark a forward P/E of just 5. HPQ -1.9%. XRX -1.8%.  [View news story]
    The Lexmark legacy is alive and well at HP as well. At HP the MPS business under Mr Dalhgren and his minions is tanking. The downward slide that he started at Lexmark is now in place at HP. It only chance to show anything different is to just manipulate numbers....yea they do that.

    HP will not recover until the VP's that thrive on "make me look good at any cost" get replaced with VP's that actually care about HP and the business they are suppose to manage. Too bad HP is allowing the same guys that set up Lexmarks failure bring about HP's failure.
    Jul 13, 2012. 04:57 PM | Likes Like |Link to Comment
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