Tuesday, September 16, 2008

Fiorina Fallout

Carly Fiorina in her days at Hewlett Packard led the company in a bold expansion, using mergers and acquisitions as her main strategy. During her tenure, the market halved HP’s value and the company incurred heavy job losses.

Today, the effects of Hurricane Carly remain.

HP is announcing the layoff of nearly 25,000 workers, mostly due to the post-Fiorina acquisition of EDS.

Serving as chief financial consultant to Presidential candidate John McCain, Fiorina paints a rosy picture of the economy, and probably works daily to bring John McCain up to snuff on economic issues. McCain has publicly stated “The issue of economics is not something I’ve understood as well as I should.”

Nearly every economic expert, of all political stripe, agree that we are in the most challenging economic time since the Great Depression.

Surely the influence of Fiorina and Phil Gramm will influence John McCain in a way that could lead to catastrophic results for our Country. With McCain and Barack Obama essentially tied in the race for the presidency, we need to look carefully at the state of the economy now, consider what eight years of Bush economics have done to most of us (and 25 years of Reaganomics), and vote appropriately.

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