HP – the once mighty US electronics maker – once the dominant US laser printer vendor will soon be gone.
You may not remember globalist HP CEO Carly Fiorina saying in the late 1990’s “Every job I can ship to India, I will”.
Well, that didn’t work out for HP did it? HP stock today is near 1990’s levels – 1/4 what it was in the late 1990’s.
HP is dying a slow death, after being taken over by India Inc and foreign workers.
This is another Sun Microsystems-Oracle-like ploy: After Sun replaced all its American tech workers who built the company in the 1980’s and 90’s with armies of cheap H-1B workers, Sun went under. Rather than close the company down and admit India Inc workers failed once again, Oracle bought Sun at the last minute, to make it look like a merger. At that point, all that Sun had left was Java technology, which Oracle got as part of the buyout. But the real reason Sun went under is that 1000s of foreign workers didn’t perform as promised.
It’s well known by now the same thing happened at HP – mass replacement of US tech workers by India, followed by decline, and now near death.
Xerox is trying to buy up the rubble before every last ounce of HP is gone forever. Japanese companies such as Brother, Ricoh, and Sharp have eaten HP’s lunch. Fujifilm tried to buy Xerox in 2018, but activist investor Karl Ichan stopped the deal. Brother laser printers are so superior to HP’s offerings these days, no consumer wants an HP printer any more. It was the exact opposite 20 years ago.
The de-industrialization of the US, and the death of many key US companies continues, unabated. Foreign powers are circling the US like vultures, snapping up any strategic assets they can, before everything is gone.
Xerox doesn’t have much to gain from HP now – except for perhaps, whatever HP laser priner patents are left. Most of it had been sold off to Fuji by now.
This is another saving-face deal for India – HP has been gutted and destroyed by India Inc. Once HP is gone, Xerox will be next.
Bye bye HP – you shouldn’t have took the India Inc Kool-Aid either.
“The talks between the pair began in August, though they were made public in November. HP has rejected Xerox advances at every stage, saying the money on offer undervalued its business, raising questions about how Xerox would fund it and manage debt repayments, and calling out Xerox’s falling revenues”.
Falling revenues? At a company taken over by India? Shocking. HP is the next IBM, Boeing, Sun, Lehman – pick your poison. India is the kiss of death for any company that touches it.
You will also note that from its historical price chart, HP was booming the in the late 1990’s when American tech workers ran it. It’s been nothing but downhill since then. Cheap foreign labor leads to lower stock prices, and eventually, company death. The list of US companies this has happened to is a mile long.
HP lost 1/2 its value under Carly Fiorina who was the CEO who initiated HP’s offhsoring. The board and HP founders’ families sued and successfully removed her as CEO after making the “dumbest deal of the decade”. Now HP is dying – and soon will be no more. One more US victim of offshoring and globalization. Another India Inc fail.
“There is no job that is America’s God-given right anymore. We have to compete for jobs as a nation.” (February 2004)
Well, Title 8 of US immigration law begs to differ with you, Carly. India doesn’t have to compete for jobs as a nation – it just keeps all Americans out of the competition.