Authors: Enron's Lay, HP's Fiorina were wannabe wizards (2006)

Salt Lake Tribune ^ | 4/30/06 | Cecil Johnson

[jimbo123]

Color Ken Lay a ''wannabe wizard.'' That's a species of leader notched between the ''harmful wizard'' and the ''authentic wizard'' among kinds of leaders classified in Lee G. Bolman and Terrence E. Deal's intriguing new book, The Wizard and the Warrior.

The authors also put former Hewlett-Packard Chief Executive Carly Fiorina in that category.

''Unlike authentic wizards, whose magic breathes spirit and soul into an enterprise, wannabe wizards have great intentions but limited ability to create a meaningful organization or transform one in trouble,'' the authors say.

-snip-

Where Lay was too hands-off, Fiorina appears to have been too hands-on, and her determination to do things her way led to her getting the ax.

''Fiorina's short reign at HP suggested she never really got the message. Like other wannabe wizards hired to turn a company around, she relied too heavily on her vision and charisma but had little sense of opposing cultural forces that generated resistance,'' they say.

[jimbo123]

If FioRINO was so hands-on, why is she now claiming she didn't know anything about her company's illegal sales to Iran and bribes to Russia?

[stephenjohnbanker]

Because she is a LIAR.

[EEGator]

Because it looks terrible?

[scooby321]

FoiRINO doesn't recall praising Hillary Clinton for President,either

Can recall praising Ottoman Empire and Islam after 9-11

[BenLurkin]

Fiorina ran Enron.

[hoosiermama]

It came out as she was leaving Lucent that they were investigating some cooked books in the pattern of Enron. It appears her leaving stopped the practice.

[Jane Long]

What FioRINO did at Lucent is called “vendor financing”.

Rush did an excellent job explaining this, on today’s show. It’s pretty much what Fannie/Freddie did to cause the housing bubble.

Lucent made $7 BILLION in loans to CUSTOMERS, so they could have their product. This pads the bottom line, makes it look like “profit/sales” to investors.

Most loans were made to small start up companies...not solvent (similar to making home loans to people who cannot pay back).

When this was discovered, Lucent stock prices plummeted.

Way to go Snarly!!

[RoosterRedux]

Snarly is still padding the books.

She's going down.

[hoosiermama]

Thanks Jane. Had been hunting for an explanation of what happened. Will make sure Rush is found and read

[DaveA37]

“Like other wannabe wizards hired to turn a company around, she relied too heavily on her vision and charisma but had little sense of opposing cultural forces that generated resistance.”.......

And her supporters think she can/will turn the American ship around? Fools! She could handle HP, how the hell does she (or they) think she has the ability and moxie to fix America? Simply stated, SHE DOESN'T.