It came from both barrels. James B. Stewart wrote a column about Hewlett-Packard (HPQ) in the New York Times. Al Lewis did one too, for the Wall Street Journal.
Lewis’ piece included a quote from former Hewlett director Tom Perkins that the company had committed “corporate suicide.”
Each recited the storied firm’s litany of errors over the last decade and each gives the reader the impression that everything would be better if Mark Hurd was still in charge.
When improvements in stock prices come from goosing margins by cutting the lifeblood of the company, it only goes on for so long. Don’t worry. Someone will figure out how to do it again, and be paid handsomely for the effort, just as Hurd was. Such is short-term capitalism in the 21st century. (Chart: Bloomberg terminal.)
In case you missed it, yesterday’s pix had a number of interesting links.