onths ers & ers
1. Ed Miliband
Labour Leader Ed Miliband was undoubtedly the biggest loser of the past month, his credibility on the economy rocked by a lacklustre performance at the Labour Party conference. Continued bungling from Shadow-Chancellor Ed Balls and Miliband’s antagonistic attacks on business left an overwhelming majority of entrepreneurs questioning how the UK’s official opposition could be so out of touch. Adding salt to his wounds a poll of SMEs showed that only 13% backed Miliband as the political leader who most understood what was needed to kick start the economy.
2. Leo Apotheker After 11 disastrous months and a catastrophic decline in its share value, Hewlett-Packard finally ousted Leo Apotheker. Apotheker, who is reportedly leaving with $13.2 million in cash and stock was behind HP’s takeover of British software giant Autonomy as part of a strategy to extricate HP from the PC business which included halting investment in WebOS devices after a poor showing. This handbrake turn in strategy was not greeted kindly by HP’s shareholders who started ditching stock and ultimately led to the board dumping Leo.
3. Overpaid Failures Whilst on the subject of failed leaders receiving massive payouts, September was rife with them. Carol Bartz was shown the door at Yahoo on Sept. 6, walking away with a package in excess of $10million. CJ Fraleigh, former CEO of Sara Lee’s North American division was also unceremoniously ditched during September but the bitter blow of being forced to resign will have been lessened by the cool $11.3 million on offer.
4. Kodak
The demise of an icon is always a somber moment and watching the slow agonizing death of the 130 year old photography giant Kodak can only reinforce the need for every business to remain relevant to their customers. Once one the bluest of American blue-chips, Kodak’s failure to adapt to the digital era has seen it’s value shrink from a peak of $34bn in 1997 to a market capitalization of just $238m in early October. Kodak however has assets which offer a last chance- recent analysis estimates that Kodak’s digital-imaging patents, which make up just 10 percent of its intellectual property portfolio, are worth $3 billion.
11 entrepreneurcountry
3.2m 11 months work!
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