1. Access to GrindGet this: If Hewlett-Packard ( HWP) and Compaq ( CPQ) actually end up merging, the combined company will be the world's largest supplier of access devices. Access devices??? Yep, that's the inelegant term that Compaq CEO Michael Capellas used Tuesday to obscure what used to be known as personal computers. Don't focus on PC market share numbers, he told analysts: "Start thinking about the entire mindshare around access devices." The idea is, he continued, "not
2. Where's Al Gore When You Need Him?Perhaps you've read about the innovative approach that some of Mellon Financial's ( MEL) employees took to manage their workload at the Pittsburgh IRS processing unit. To catch up with the onslaught of tax returns arriving at their so-called lockbox this past April, workers evidently made the outside-the-lockbox decision to shred the papers rather than pass them onto the IRS. Most likely, though, you didn't read Mellon's reasons behind not taking complete corporate responsibility for the sad affair. "We have worked closely with the IRS to ensure that we comply with all of their policies and requirements for processing tax returns," wrote Chairman Martin McGuinn on Tuesday. "We understand our policies and procedures are consistent with financial industry standards." If that's a government-approved lockbox, say a prayer for Social Security.
3. Exodus ExodusThis week's thanks-for-the-mindblowing-insight award goes to Legg Mason analyst Todd Weller, who Wednesday downgraded Web hosting company Exodus ( EXDS) from buy to market perform, one day after the resignation of CEO Ellen Hancock.
| Consolidating |
Investors reducing exposure