This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Give Us One Good Reason Why HP Shouldn't Fire Meg Whitman

NEW YORK ( TheStreet) -- Venture cap legend and Hewlett Packard (HPQ - Get Report) board member Marc Andreessen thinks Meg Whitman should keep her gig as CEO. Not only that, but Andreessen, via Business Insider, recently canonized her as "the best CEO since the founders."

Both Andreessen and Whitman served (both still do) on HP's board when it approved the failed Autonomy acquisition. It makes sense that they would stick together in the we're going on the offensive even though we're acting really defensive aftermath.

Setting Autonomy aside, where's the meat here?

Investors deserve more from a company that has lost 72% of its value over the last five years and 37% since it named Whitman CEO. HPQ not only takes retail slugs to the cleaners, it's fleecing insiders, particularly board members, as well.

All I can assume is that these insiders -- Whitman, Andreessen and the rest of the HP board -- know something we don't. If that's the case, investors should be livid.

Publicly, Meg Whitman does nothing to inspire the level of confidence Andreessen has in her.

When asked why anybody should believe in the notion of a turnaround at HP, Whitman responds with language that brings back memories of Research in Motion's (RIMM) death spiral to irrelevancy.

HP maintains it will hit its fiscal year guidance. RIM did this in 2011, using the same line as Whitman -- we have some really interesting, great and exciting products set to come out later in the year. When they hit, they'll drive sales. Backloaded earnings. Trust us!

Whitman refuses to drop the dream of HP's printing business. She says she sees increased demand for enterprise printing. I would love for her to quantify it with some precision. Even RIM's former CEO Jim Balsillie was more precise when he claimed he received "extremely high interest" from "many corporate clients," who wanted "tens of thousands, several tens of thousands of RIM's now-failed Playbook" tablet.

But, assuming demand for enterprise printing exists, fine, don't turn away business, just let us know what's next. Printing will not carry HP through the decade.

The success of these interesting, great and exciting products, as far as I know, hinges on the fate of Microsoft's (MSFT - Get Report) Windows 8 and the PC. Such a bold innovator this Meg is!

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AMZN $372.10 -0.66%
HPQ $31.16 -1.30%
MSFT $40.66 -0.74%
AAPL $124.43 -1.54%
FB $82.22 -1.18%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs