By Peter Burrows
An insider's examine the inner turmoil at one of many world's premiere high-tech companies
this can be the interior tale of Hewlett-Packard Company's fight to regain its former glory, and of the high-stakes conflict among CEO Carly Fiorina and relatives scion Walter Hewlett over how most sensible to accomplish that objective. for many years, HP used to be fashionable not just for its cutting edge items and hovering inventory expense, yet for its egalitarian company tradition and father-knows-best integrity. Backfire explains how the corporate fell on difficult instances, recounts the ancient determination that made Fiorina the world's top-ranking girl govt, and brings to lifestyles the backlash that resulted while she attempted to impose her charismatic salesmanship at the getting older icon. best BusinessWeek journalist Peter Burrows provides the dramatic blow-by-blow of Hewlett's attempt to kill Fiorina's so much debatable circulation of all, her $19 billion buy of rival Compaq desktop. Fiorina received through a whisker, after the most costly proxy struggle in background and a dramatic lawsuit that accused the corporate of illegally solving the vote. This gripping, ongoing tale contains attention-grabbing personalities and dramatic boardroom and court drama.
Peter Burrows (Alameda, CA) has been a expertise reporter for BusinessWeek for 9 years and has lined the HP saga from the beginning. the dep. editor for BusinessWeek's desktop assurance, he has been the critical chronicler of Fiorina's tenure at HP, and has written 3 hide tales at the topic. He has additionally written quite a few different hide tales, together with seems to be at Steve Jobs's Apple machine and sunlight Microsystems' Scott McNealy.
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Additional resources for Backfire: Carly Fiorina's High-Stakes Battle for the Soul of Hewlett-Packard
Madelon, the daughter of an assembly-line worker in Toledo, had left an unhappy home to join the Women’s Army Corps. Her mother had died when she was a child, leaving her in the care of an extended family. “My mother had a series of stepmothers who didn’t 29 x B ac k f i r e x think much of developing girls and a father who wouldn’t pay for her college tuition,” Fiorina told the New York Times in 1999. ”8 After the war, Sneed earned his law degree from the University of Texas at Austin, graduating in 1947.
Others would say she was wrong in her analysis, and that she callously threw out what was best about the HP Way. ” Both her aborted $18-billion bid for the PricewaterhouseCoopers consulting business in 2000 and the Compaq merger flew in the face of decades of failed tech megamergers and HP’s own miserable record with mergers. F or many of the better students among her childhood classmates, the next step on life’s path was Stanford University. For children of professors, the odds of getting in were high.
But Fiorina came up with a different explanation. Productivity rose not because workers were given more of a say, but because they got more job training and a pay scale that rewarded them for their performance. In other words, she argued, the employees were more motivated by the fair pay. Throughout her career, Fiorina—like most high-tech executives—would rely heavily on rich bonuses and other financial incentives to motivate her employees. However, HP’s culture was always the exception to the high-tech rule.
Backfire: Carly Fiorina's High-Stakes Battle for the Soul of Hewlett-Packard by Peter Burrows