rudedog: That was a good article. It suggests to me the following:
1. Much of the serious criticism of COMPAQ last year and earlier, which was resisted by loyal investors, management and BoD, is now conceded to have beem correct by the current COMPAQ CEO. In fact, while denials of certain weakness was being issued in the past, and covered by public optimistic promises of the future, there was recognition of that weakness in the company.
2. There was a lack of confidence, clarity, decisiveness on how to tackle weakness from the BoD and management. The creation of the new corproate structure was almost happenstance, driven by a "new" employee, Capellas and originally resisted by the BoD.
3. Capellas was hired by Pfeiffer, not Rosen.
4. Capellas understands the problems. But doubt remains in the investment community, that despite some good things done in his first six months, and despite his modesty and clarity, whether he can operate decisively given Rosen's traditional role and given the complex nature of COMPAQ problems.
Note: I would think the lesson of the Capellas interview is that if you want to contribute to COMPAQ's development, criticse, don't listen to PR. |
