HP running to catch up after former CEO failed to invest

[Simon]

An HP executive has accused former boss Mark Hurd of massive under-investment in the company, claiming the damage done would take time to correct.

According to HP chairman and venture capitalist Ray Lane, the company will need to pump money into research in order to spark growth after two disappointing quarters marked by slashed sales expectations.

Lane joined HP at the same time as his long-term ally, new CEO Leo Apotheker, after former leader Hurd left under a cloud of scandal, argued the new helmsman was paying for past mistakes of serial cost-cutting.

"It's not a three-month job," Lane said, adding that Apotheker is focused on HP's long-term growth. "Mark Hurd did not invest," said Lane. "He burned the furniture to please Wall Street. Leo is not that."

Read more: http://www.pcpro.co.uk/news/368902/hp-running-to-catch-up-after-former-ceo-failed-to-invest

[Glenn]

They've spent over $20Bn in the past few years, buying EDS, 3com and various other companies.

[Rik]

But not invested in their staff.

[Glenn]

I've had a single 2% rise this year, the first in 5 years, that was the maximum increase paid company wide in the UK, to general staff.

[sparky]

Glen, so you work for HP?

I worked for Digital Equipment before HP got their fangs into Compaq............

They have left the best designed hardware die a lingering death.....................

[MisterW]

They have left the best designed hardware die a lingering death.....................

Too true.
But at least you can hang on to those VMS (and Tru64) systems if you wish  http://www.stromasys.ch/?id=32#401
We've replaced some systems and you can get a pretty high performance VAX with a half decent server, and even get a pretty good equivalent to an Alpha.

[sparky]

Well, believe it or not I'm still maintaining the real thing...........

OK, there's not a lot left, but at my time of life I'm hoping they might see me through.......

Actually, MisterW, I find that interesting. Do you mind if I forward that link on?  I'm thinking along the lines of creating potential business here...

[Glenn]

Sparky,

I work for a division within HP. Wooton Grange, the old Digital/Compaq building, is no longer there, HP pulled out and it is now a 'Brown Field site' awaiting development, with talk of 2 40 storey apartment towers being built there.

[sparky]

Worton Grange, yes, I remember DEC Park. What a fantastic, state of the art site that was when it opened. It had it's own green walk way down the middle of it. I understand it's now flattened.

I started in Reading, moved to Basingstoke, then on to Solent Business Park, back to Leatherhead, Bristol and finally the end came at Basingstoke.  Slightly off thread I suppose, time moves on.

[MisterW]

Actually, MisterW, I find that interesting. Do you mind if I forward that link on?  I'm thinking along the lines of creating potential business here...

No probs. We are a UK VAR for the Charon Products. I'll drop you a PM with my contact details.