Failures
Millionaire Fiorina Called the Outsourcing of American Jobs "Right Shoring"
January 9, 2004
The San Francisco Chronicle reported, "Labor unions have battled 'offshoring,' which Fiorina calls 'right-shoring,' for decades, he said." [San Francisco Chronicle, 1/9/04]
Fiorina Laid Off Nearly 18,000 HP Workers During "Restructuring"
September 23, 2003
"Hewlett-Packard, based in Palo Alto, Calif., had a $ 903 million loss on revenue of $ 56.6 billion for its fiscal year that ended last Oct 31. According to a summary by Hoover's Inc., an Austin, Texas, provider of business information, Hewlett-Packard has undergone extensive restructuring under Chief Executive Officer Carly Fiorina. The company announced earlier this year that it planned to cut 17,900 people by October because of a weak economy and its merger with Compaq." [Omaha-World Herald 09/23/2003]
Fiorina Suggests Her Biggest Mistake Was Not Firing More People More Quickly
February 7, 2005
"Fiorina does not agree, naturally, that there's been a brain drain (at HP). In fact, she believes that one lesson she's learned while running HP is that she should have moved more quickly in ejecting certain people. Smartened up now, she says, 'I would have done them all faster. Every person that I've asked to leave, whether it's been clear publicly or not, I would have done faster.'" [Fortune 02/07/2005]
Carly Fiorina Offshored HP Profits
January 2, 2004
"By the end of its 2003 fiscal year, Hewlett-Packard Co. had 'indefinitely' deferred taxation on $14.4 billion of foreign earnings, according to SEC filings, a move that helped lower its effective tax rate from the statutory corporate income tax rate of 35 percent to 12 percent." [Washington Post 01/02/2004]
Carly Fiorina Sheltered HP Profits Overseas
January 28, 2010
"We left billions of dollars in cash overseas because of the differences in tax rates. And that inability for us to bring cash back home to this market absolutely impacted our investments in this market." [Fiorina Remarks, Milwaukee, WI]
Fiorina Suggested Costly Iraq War Has Nothing to Do With Our Current Economic Crisis
April 7, 2008
"There's no question that the Iraq War is costing us a lot of money," Fiorina replied. "But it's also the case that the housing crisis has nothing to do with the Iraq War. High fuel prices have nothing to do with the Iraq War, per se. And high food prices, in particular, have nothing to do with the Iraq War. ... It's not fair ... to try and make the Iraq War the cause of our current economic difficulties." [MSNBC 04/07/2008]
Carly Fiorina Failed to Produce Results for HP
February 7, 2005
"First, under the only lens that matters, did the famed merger that Fiorina engineered between HP and Compaq produce value for HP's shareholders? Second, with that merger nearly three years past, is HP in shape to thrive in its brutally competitive world? The answers are no and doubtful...This was a big bet that didn't pay off, that didn't even come close to attaining what Fiorina and HP's board said was in store." [Fortune 02/07/2005]
Fiorina's Tenure as CEO of HP was a Disaster
September 4, 2001
"She has had to warn repeatedly of disappointing results. In the nine months to July, HP saw its net profit fall by 82%, to $506m. The company has slashed costs, announced 6,000 job cuts and asked staff to volunteer for a temporary 10% pay cut." [Economist 09/04/2001]
