Thursday, February 11, 2010

Fiorina: Maybe California Should Go Bankrupt

Carly Fiorina, Republican candidate for US Senate in California, suggests the state would benefit by going broke.

Fiorina's rivals jumped on comments she made to local business leaders in the Southern California city of Colton as quoted by the Riverside Press-Enterprise: "Whether that is the right approach now, I don't know. I think bankruptcy, as a possibility, at the very least focuses the mind on what has to be done to salvage a situation." They attacked her as unprepared since states under federal law cannot declare bankruptcy.

I don't know- seems to me that Carly's plenty prepared... quoting from Wikipedia...

In July 1999, Hewlett-Packard Company named Fiorina chief executive officer succeeding Lewis Platt . . . Fiorina was forced out of HP in 2005 after its stock price had fallen in value by half. . . . The company's stock jumped on news of Fiorina's departure.[37] . . . When Fiorina became CEO in July, 1999, HP's stock price was $52 per share, and when she left 5 years later in February, 2005, it was $21 per share—a loss of over 60% of the stock's value.[39] During this same time period, HP competitor Dell's stock price increased from $37 to $40 per share.[40][41]

Seems to me Carly has plenty of experience... at bankruptcy, and at running large enterprises into the ground.

Typical Republican, in other words.

No comments: