NEW YORK (TheStreet) -- I heard a rumor that Hewlett-Packard (HPQ) CEO Meg Whitman went on Fox Business News the other day and said her company will, at some point in the future, produce a smartphone.
I didn't witness the interview firsthand. And even though a simple Google search confirms it did indeed happen, I want to treat it like a nasty rumor.
Let's not rule out the possibility that an impostor put on a leftover Meg Whitman Halloween costume, went on national television, discussed plans for a smartphone and, somehow in this connected world, HP never got wind of what happened so they did not issue a press release to refute it.
Even though I would not have voted for her in your booth, I liked Whitman better when she ran for Governor of California. At least as a politician, it's acceptable to be unoriginal and have no vision. That shouldn't fly as a CEO in tech.Interestingly, HPQ's share price does not go the way of Dell's (DELL). For one reason or another, investors give Whitman a sliver of the benefit of the doubt. It probably has something to do with her time at eBay (EBAY). Of course, when Whitman joined a 30-employee eBay, it needed a leader to guide its growth. I hesitate to take credit away from Whitman in that regard. At the same time, eBay was not Whitman's idea. Pierre Omidyar had the revelation and founded the company. Whitman was little more than one of dozens, maybe hundreds of executives who could have ably babysat an idea whose time clearly had come. Simply put, she is not a visionary. That's a problem for HP. Generally, I like to consider situations like this from a more complex perspective. You know, way more than two sides exist to every story. In this case, however, we're looking at something that could not be more black and white. HP requires a rock star visionary and it doesn't have one. Whitman repeats the same behaviors and processes that have held back innovation in some corners of tech for years. She culls from the pool of what exists. That ensures mediocrity. And it's one of the reasons Apple (AAPL) can remain so dominant. Even with him gone, the current team at Apple can milk Steve Jobs's legacy and use some of their own talent to sustain things for a while.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV