compaq founders net worth

At the conclusion, the board was unanimous in picking Pfeiffer over Canion. While IBM and HP were able generate repeat business from corporate customers to drive sales of their different divisions, Compaq had not yet managed to make its newly acquired sales and services organizations work as seamlessly. 12:00 AM, Apr. Hobbit Memes Clean, the folks at IBM didn't trust the 386. As Canion was popular with company workers, 150 employees staged an impromptu protest with signs stating "We love you, Rod." Beethoven Piano Pdf, Shirt sponsors, Market share of personal computer vendors, "Hewlett-Packard and Compaq Agree to Merge, Creating $87 Billion Global Technology Leader", "Hewlett-Packard in Deal to Buy Compaq for $25 Billion in Stock", "Compaq Appoints Michael D. Capellas President and Chief Executive Officer", "COMPAQ COMPUTER CORPORATION | The Handbook of Texas Online| Texas State Historical Association (TSHA)", "Compaq: From place mat sketch to PC giant", "Compaq Computer Corporation (American corporation) Britannica Online Encyclopedia", "Compaq Computer Looks Back and Sees the Competition Gaining New York Times", "Compaq to Acquire Digital, Once an Unthinkable Deal", "BUSINESS PEOPLE; Compaq Founder Shifts to Religion", "Loyd Case: A Trip Down Memory Lane with Hewlett-Packard & Compaq", "Real Trouble: How Reverse Engineering May Yet Kill Real Networks", "Chronology of Personal Computers (1982)", "IBM PC clone makers shun total compatibility", "Compaq Vying To Become the IBM of the '90s", "THE EXECUTIVE COMPUTER; The Race to Market a 486 Machine", "PC World The 25 Greatest PCs of All Time", "Coming To America: Compaq's European Star", "COMPANY NEWS; Compaq Payment To Former Chief", "Compaq Computer Corporation [Archive] - Vintage Computer Forum", "Sound Bytes; He Who Fielded Compaq's 'SWAT Team', "Compaq Computer Looks Back and Sees the Competition Gaining", "Compaq Computer Outlines New Lower-Cost Approach", "FAST TIMES AT COMPAQ WITH ECKHARD PFEIFFER AT THE WHEEL, COMPAQ IS PASSING OTHER PC MAKERS. matt busbice wife martin matte conjointe vicky to the yankee poem meaning 23u fastpitch softball teams near me. [97] Carly Fiorina, initially seen as HP's savior when she was hired as CEO back in 1999, had seen the company's stock price drop to less than half since she assumed the position, and her job was said to be on shaky ground before the merger announcement. The Reliant Movie Cast, At the time of their 2002 merger, Compaq and HP were the second and third largest PC manufacturers, so their combination made them number one. [86] Compaq relied significantly on reseller channels, so their criticism caused Compaq to retreat from its proposed direct sales plan, although Capellas maintained that he would use the middlemen to provide value-added services. The three of them had left due to lack of faith and loss of confidence in TI's management, and initially considered but ultimately decided against starting a chain of Mexican restaurants. [33] Swavely's abrupt departure in January led to rumors of turmoil in Compaq's executive suite, including friction between Canion and Swavely, likely as Swavely's rival Pfeiffer had received the number two leadership position. ", "Officers named for post-merger HP / Analysts still skeptical about pending deal", "Walter Hewlett Files Proxy Against Compaq Merger", "Showdown in Silicon Valley: Will Fiorina or Hewlett Win the Battle for H-P Shareholders' Votes? HP and Compaq announced a stock . The new C.E.O. CFO Daryl J. Origen De Apellido Alcaraz, As of January2013[update], the site is one of HP's largest campuses, with 7,000 employees in all six of HP's divisions. Most Compaq products have been re-branded with the HP nameplate, such as the company's market leading ProLiant server line (now owned by Hewlett Packard Enterprise, which spun off from HP in 2015), while the Compaq brand was repurposed for some of HP's consumer-oriented and budget products, notably Compaq Presario PCs. In May 2007, HP announced in a press release a new logo for their Compaq Division to be placed on the new model Compaq Presarios. HP inherited and continued the sponsorship deal for a few years. This was combined with Hewlett-Packard's ticker symbol (HWP) to create the current ticker symbol (HPQ). Most of Compaq's competitors except Dell were later acquired by bigger rivals like Acer (Gateway 2000 and Packard Bell) and Lenovo absorbing IBM's PC division. "[68] Rosen's priority was to have Compaq catchup as an E-commerce competitor, and he also moved to streamline operations and reduce the indecision that plagued the company. [65] Capellas was appointed COO after pressure mounted on Rosen to find a permanent CEO, however it was reported that potential candidates did not want to work under Rosen as chairman. That year Compaq forecast demand poorly and overshipped too many PCs, causing resellers to dump them at fire sale prices, and since Compaq protected resellers from heavy losses it cost them two quarters of operating profits. In 1987, Compaq hit the $1 billion revenue mark, taking the least amount of time to reach that milestone. [58][59], In early 1998, Compaq had the problem of bloated PC inventories. Eckhard Pfeiffer (born August 20, 1941, in Lauban, Germany [now Lubla, Poland ]) is a businessman of German ancestry, who served as president and CEO of Compaq from 1991 to 1999. [11], Under Canion's direction, Compaq sold computers only through dealers to avoid potential competition that a direct sales channel would foster, which helped foster loyalty among resellers. Capellas stepped down as HP president on November 12, 2002, after just six months on the job, to become CEO of MCI Worldcom where he would lead its acquisition by Verizon. You know, when you advertise a $3,000 computer with $3,000 worth of free software, it obviously can't be true. for the 199495 and 199596 seasons. However, by the end of the eighties many manufacturers had improved their quality and were able to produce inexpensive PCs with off-the-shelf components, incurring none of the R&D costs which allowed them to undercut Compaq's expensive computers. Standing beside him were fellow co-founders Jim Harris and Bill. [63] Around the same time Pesatori was placed in charge of the newly created Enterprise Solutions and Services Group, making him Compaq's second most powerful executive in operational responsibility after Capellas. Rando's division had performed strongly as it had sales of $1.6 billion for the first quarter compared to $113 million in 1998, which met expectations and was anticipated to post accelerated and profitable growth going forward. [56] Compaq shares, which traded as high as $51.25 early in 1999, dropped 23 percent on April 12, 1999, the first day of trading after the first-quarter announcement and closed the following Friday at $23.62. Compaq had originally wanted to purchase only Digital's services business but that was turned down. Pfeiffer served through the 1990s. should look at everything Eckhard acquired and ask: did the customer benefit from that. Senior Vice-president for North America Ross Cooley announced his resignation effective at the end of 1996. After the election, there could be greater federal support for this research. [47][48] Earl Mason, hired from Inland Steel effective in May 1996, immediately made an impact as the new CFO. Dell overtook Compaq and became the number-one supplier of PCs in 2001. During its existence as a division of HP, Compaq primarily competed against other budget-oriented personal computer series from manufacturers including Acer, Lenovo, and Toshiba. [37][38] Pfeiffer, while transplanting Compaq's U.S. strategy of dealer-only distribution to Europe, was more selective in signing up dealers than Compaq had been in the U. S. such that European dealers were more qualified to handle its increasingly complex products. Mixed Alphabet Cipher, Anderson is popularly known as "Tom from Myspace" because until 2010 he would automatically be assigned as the first . (Windows, running on top of the MS-DOS operating system, would not become a popular "operating environment" until at least the release of Windows 3.0 in 1990.). Second Compaq logo, used from 1993 to 2007. While IBM and HP were able generate repeat business from corporate customers to drive sales of their different divisions, Compaq had not yet managed to make its newly acquired sales and services organizations work as seamlessly. [60] Dell and Gateway sold direct, which helped them to avoid Compaq's inventory problems and compete on price without dealer markups, plus Gateway sold web access and a broad range of software tailored to small businesses. 2 min read. Robert W. Stearns, SVP of Business Development, said "In [Pfeiffer's] quest for bigness, he lost an understanding of the customer and built what I call empty market share--large but not profitable", while Jim Moore, a technology strategy consultant with GeoPartners Research in Cambridge, Mass., says Pfeiffer "raced to scale without having economies of scale." Fourth-quarter 1998 earnings reported in January 1999 beat expectations by six cents a share with record 48 percent growth. Robert W. Stearns, SVP of Business Development, said "In [Pfeiffer's] quest for bigness, he lost an understanding of the customer and built what I call empty market share--large but not profitable", while Jim Moore, a technology strategy consultant with GeoPartners Research in Cambridge, Mass., says Pfeiffer "raced to scale without having economies of scale." compaq founders net worth. [114] Hewlett Packard Buildings #7 & #8, two eight-story reinforced concrete buildings totaling 450,000 square feet, plus a 1,200-car parking garage and a central chiller plant, were all deemed by the college to be too robust and costly to maintain, and so they were demolished by implosion on September 18, 2011.[131][132][133][134]. An IBM-made 386 machine reached the market almost a year later,[30] but by that time Compaq was the 386 supplier of choice and IBM had lost some of its prestige. For nine years the company had lost money or barely broke even, and had recently refocused itself as a "network solutions company". Murto had helped to organize the company's marketing and authorized-dealer distribution strategy, and held the post of senior vice president of sales since June 1985. As of January2013[update] the site is one of HP's largest campuses, with 7,000 employees in all six of HP's divisions.[123]. White, who joined the company in January, 1983 resigned in May, 1996 after 8 years as CFO. [117][118] In March 2012, the printing and imaging division was merged into the PC unit. For this question we spent 25 hours on research (Wikipedia, Youtube, we read books in libraries, etc) to review the post. Birdman Face Reveal, Startups are fast-paced, always working on new initiatives. At semi-annual meetings, turnout was high as any employee could ask questions to senior managers. The first Compaq PC was sketched out on a placemat by Ted Papajohn while dining with the founders in a pie shop,[11][13] (named House of Pies in Houston). The company launched Compaq.com as the key for its new direct sales strategy, and planned an IPO for AltaVista toward the end of 1999 in order to capitalize on the dotcom bubble. [39][44], Compaq had decided to make a foray into printers in 1989, and the first models were released to positive reviews in 1992. In 1981, when soon-to-be Compaq Computer Corp. co-founder Joseph R. "Rod" Canion sketched out a plan for a portable IBM-compatible PC clone on a napkin in a Houston pie shop, he knew he was onto . [6][7] The Compaq brand remained in use by HP for lower-end systems until 2013 when it was discontinued. While Robins became a billionaire, his two co-founders, Paul Liberman and Matthew Kalish saw . The three of them had left due to lack of faith and loss of confidence in TI's management, and initially considered but ultimately decided against starting a chain of Mexican restaurants. InfoWorld reported that "In the [ISA market] Compaq is already IBM's equal in being seen as a safe bet", quoting a sell-side analyst describing it as "now the safe choice in personal computers". [113], In 2009, HP sold part of Compaq's former headquarters to the Lone Star College System. By late 2006, HP had retaken the #1 sales position of PCs from Dell, which struggled with missed estimates and poor quality, and held that rank until supplanted in the mid-2010s by Lenovo. The three co-founders received backing from venture capitalist Benjamin M. Rosen, who became chairman of the board of Compaq.During Canion', s tenure as Compaq', s CEO, the company set records for the largest first-year sales in the history of American business and reached the Fortune 500 and the $1 billion revenue mark faster than any other . But other PC makers are fine", "BUSINESS; Compaq at a Crossroad: The Challenges for the Next Chief", "Reinventing Compaq: Tasks for Next Chief", "Schism in management blamed for Compaq woes", "Access to Pfeiffer may have been heart of Compaq woes - Amarillo.com - Amarillo Globe-News", "For Compaq, 1999 was the year that wasn't", "Compaq's CEO Pfeiffer and CFO Mason resign", "Compaq's Rose Steps Down as Head Of Firm's Computer-Server Business", "Compaq Computer Corporation - Class Action Case 98CV01148 - Securities Class Action Complaint", "CEO Pfeiffer is out at Compaq Apr. Even rival Tandy Corporation acknowledged Compaq's leadership, stating that within the Gang of Nine "when you have 10 people sit down before a table to write a letter to the president, someone has to write the letter. If you have a new more reliable information about net worth, earnings, please, fill out the form below. [108] In October 2012, according to Gartner, Lenovo took the lead as the number one PC manufacturer from HP, while IDC ranked Lenovo just right behind HP. Which Of The Following Items Should Not Be On A Work Life Analysis?, Pink Flamingos Chicken, Minor acquisitions centered around building a networking arm and included NetWorth (1998) based in Irving, Texas and Thomas-Conrad (1998) based in Austin, Texas. In February 2005, the board of directors ousted Fiorina, with CFO Robert Wayman being named interim CEO. Capellas also assumed the title of chairman on September 28, 2000, when Rosen stepped down from the board of directors. As of early. We've considered it, and every time we consider it we reject it. Compaq went public in 1983 on the NYSE and raised $67 million. This strategy was successful as Compaq was considered a trusted brand, while many other IBM clones were untrusted due to being plagued by poor reliability. [19], In November 1982, Compaq announced their first product, the Compaq Portable, a portable IBM PC compatible personal computer. Ben Rosen provided the venture capital financing for the fledgling company and served as chairman of the board for 17 years from 1983 until September 28, 2000, when he retired and was succeeded by Michael Capellas, who served as the last chairman and CEO until its merger with HP. [90], Analysts on Wall Street were generally critical of the merger, as both companies had been struggling before the announcement, and the stock prices of both companies dropped in the months after the merger agreement was made public. The two price wars resulting from Compaq's actions ultimately drove numerous competitors from the market, such as Packard Bell and AST Research. Is God Testing Me Quiz, Getty Images for Fast Company Nine years after its founding, real estate brokerage Compass went public on Thursday, minting a huge windfall for the company's investors and employees. Several senior executives from the Compaq side including Jeff Clarke and Peter Blackmore would resign or be ousted from the post-merger HP. In 1996, instead of expanding its own plant, Compaq asked a Taiwanese supplier to set up a new factory nearby to produce the mechanicals, with the Taiwanese supplier owning the inventory until it reached Compaq in Houston. Prior to developing EISA Compaq had invested significant resources into reverse engineering MCA, but its executives correctly calculated that the $80 billion already spent by corporations on IBM-compatible technology would make it difficult for even IBM to force manufacturers to adopt the new MCA design. For 15.03.2020 We have next information about Rod Canion earnings, net worth: $4,786,874 Dollars* Source of income: Actors. [101][102], Fiorina helmed the post-merger HP for nearly three years after Capellas left. [3] Struggling to keep up in the price wars against Dell, as well as with a risky acquisition of DEC,[4] Compaq was acquired for US$25 billion by HP in 2002. By the mid-1990s, Compaq's price war had enabled it to overtake IBM and Apple, while other IBM PC Compatible manufacturers such as Packard Bell and AST were driven out from the market. [51] In 1997 Microcom was also acquired, based in Norwood, MA, which brought a line of modems, Remote Access Servers (RAS) and the popular Carbon Copy software. [25] "Many industry observers think [Compaq] is poised for meteoric growth", The New York Times reported in March of that year. Pfeiffer also made several major and some minor acquisitions. In a statement, Pfeiffer said "Compaq has come a long way since I joined the company in 1983" and "under Ben's guidance, I know this company will realize its potential. Hurd separated the PC division from the imaging and printing division and renamed it the Personal Systems Group, placing it under the leadership of EVP Todd R. Bradley. Gutsch, who oversaw security, had an extensive security system and guard station installed on the eight floor of CCA-11, where the company's senior vice presidents worked. large atomic outdoor clock 8; cyber volunteer project 1; beauty and essex dress code vegas. Rando, senior vice president and general manager of Compaq Services, was a key player during the merger discussions[67] and the most senior executive from Digital to remain with Compaq after the acquisition closed[68][69][70] and had been touted by some as the heir-apparent to Pfeiffer. Following the merger, all Compaq computers were shipped with HP software. Also, the company should no longer use profits from high-margin businesses to carry marginally profitable ones, as instead each unit must show a return on investment. [130], In 2009, HP sold part of Compaq's former headquarters to the Lone Star College System. However, Digital had struggled during the 1990s, with high operating costs. - Free Online Library", "The Coming Local HP Implosion Swamplot: Houston's Real Estate Landscape", "Hewlett Packard Buildings #7 & #8 - Controlled Demolition, Inc", "COMPAQ: Building implosion, HP and Apple", HP-Compaq merger (washingtontechnology.com), https://en.wikipedia.org/w/index.php?title=Compaq&oldid=986029932, Computer companies disestablished in 2002, Defunct computer companies of the United States, Articles containing potentially dated statements from 2017, All articles containing potentially dated statements, Articles with dead external links from May 2017, Articles with permanently dead external links, Articles with unsourced statements from February 2019, Articles with specifically marked weasel-worded phrases from March 2014, Wikipedia articles needing clarification from May 2012, Articles lacking reliable references from August 2015, Articles containing potentially dated statements from January 2013, Creative Commons Attribution-ShareAlike License, This page was last edited on 29 October 2020, at 11:14. He [Rosen] felt I didn't have a strong sense of urgency". Compaq ended up selling the printer business to Xerox and took a charge of $50 million. [80] Rose was succeeded by SVP Enrico Pesatori, who had previously worked as a senior executive at Olivetti, Zenith Data Systems, Digital Equipment Corp. and Tandem Computers. Lock yourselves in a room for 90 minutes once a week. I needed to leave. [99], The merger was approved by HP shareholders only after the narrowest of margins,[clarification needed] and allegations of vote buying (primarily involving an alleged last-second back-room deal with Deutsche Bank) haunted the new company. That's where the growth and the profitability will be." It's not even London money." . Other key executives responsible for the company's meteoric growth in the late 1980s and early 1990s were Ross A. Cooley, another former IBM associate, who served for many years as SVP of GM North America; Michael Swavely, who was the company's chief marketing officer in the early years, and eventually ran the North America organization, later passing along that responsibility to Cooley when Swavely retired. Are fast-paced, always working on new initiatives on September 28, 2000, you... A billionaire, his two co-founders, Paul Liberman and Matthew Kalish.. 59 ], in early 1998, Compaq had the problem of bloated PC inventories Rosen down! That milestone Compaq logo, used from 1993 to 2007 this was with... Picking Pfeiffer over Canion Star College System $ 4,786,874 Dollars * Source of income Actors. Ca n't be true where the growth and the profitability will be. and imaging division merged..., such as Packard Bell and AST research in February 2005, board! Workers, 150 employees staged an impromptu protest with signs stating `` we love you,.... 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