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Technology Stocks : HWP -- Hewlett Packard

HPQ 20.38

-1.1%

Jan 16 3:59 PM EST

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To: w0z who wrote (4189)	2/27/2002 9:53:39 AM
From: Kirk ©	Read Replies (1) of 4722

Kirk, just to set the record straight, Belluzo was Hackborn's protege. It was Lew Platt (CEO at the time) who kicked out his probable successor in a disagreement over Belluzo's more aggressive strategy. Hackborn is also on the board of Microsoft and I'm sure had a lot to do with Belluzo landing there. Anyone discounting Hackborn's strategic wisdom needs to look at his track record, which is probably responsible for 95% of HP's profits over the past 15 years (Laserjet, Inkjet, etc). Thanks Bill. I had the details wrong. I was actually for the CPQ/HWP merger at the start but the "lack of teamwork" on the present board and how it is handled more as a pissing fight rather than the "old HP way" of pointing to the positives... makes me ill. I also don't like the fact that they will be paying retention bonuses to keep key employees that will suck dry about a years worth of profits.. This in a time when there are not many alternatives for people to go to begin with... Then when the retainer bonuses are paid, the industry will probably be in recovery and the good people could leave anyway.... Sure it will get recorded as "one time expenses" but most are now looking at GAAP numbers so this will hurt the stock price. Long term, the merger is probably a good idea other than I think they are over paying for CPQ. It might be a good idea if Jack Welch was running the company as he has experience merging companies... but what success has CF shown? She hasn't even won the support of her employees yet from what I can gather. If she couldn't merge her style with the HP way, how do we expect her to merge with CPQ? Will Dick Hackborn take back the leadership position? I think not. BTW, the idea of spinning off the printer business seems silly. The brand name "HP Printer" is one of the most valuable assets left. Why throw that away to become another "Lexmark"? How many today connect Lexmark with IBM quality?

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