Ding! Dong! The wicked witches are dead. Carly Fiorina and Meg Whitman have gone where the goblins go, and conceded defeat in the mid-term elections. I say: good. This is not a political opinion, though; just plain old common sense, as you'd expect in The Long View...
As I said back in June -- when the GOP selected them -- they both had terrible business track records, yet their messages dripped heavy with talk of business acumen and financial success.
Carly Fiorina was a near-disaster for HP. During the six years of her tenure, she destroyed shareholder value, as a chart of HP's stock price vs. the three major U.S. indexes clearly illustrates:
[Full disclosure: I was an HP employee during her first three years at the company.]
Meg Whitman's eBay and PayPal together managed to pull of the stellar feat of alienating both its sellers and buyers. Its ludicrous and inscrutable policies turned a once-great service into an object of derision and anger. And then there's eBay's disastrous Skype acquisition.
For more on why I think they both deserved to lose, click through to my earlier article.
Of course, the abject failure of these two highly-funded campaigns is in stark contrast to Republican gains elsewhere.
Politically, I'm no liberal. But this is a victory for common sense from Californian voters. How could failed businesspeople possibly be good choices to rescue a state and a nation in financial trouble?
Am I right, or am I full of it? Leave a comment below...
|Richi Jennings is an independent analyst/consultant, specializing in blogging, email, and security. A cross-functional IT geek since 1985, you can follow him as @richi on Twitter, pretend to be richij's friend on Facebook, or just use good old email: TLV@richij.com.|
You can also read Richi's full profile and disclosure of his industry affiliations.
[Updated 7.55am EDT to clarify that the results are as yet unofficial]
[Updated 2.45pm after both conceded]