Did anyone listen to the CEO communication meeting yesterday? Did you get anything out of it that makes you think we are on our way to becoming a tech powerhouse? I listened to the whole thing and read a few presentations from the investors conference. I still do not know how we are going to transform into a tech powerhouse. What am I missing here?
17 replies (most recent on top)
There will be no “Tech Powerhouse.” That should be clear to anyone that know Xerox software resources, patents, products, and structure. That line of BS is only to placate those that don’t have in-depth knowlege of XRX. There will probably be more claims like the “tech powerhouse” cr*p but those are just for show to “the street.” There are no assets to build a “tech powerhouse.” There isn’t time to build a “Tech powerhouse.” Carl and Darwin have never been in for the long haul. And this time around they are old men; now they don’t have time to play around. This has already gone on much longer than they wanted because they didn’t really understand that Xerox was so dependent on FujiXerox for product, how poorly the GC and Enterprise business is run and how redundant the channels and GIS were. They must have believed they could get in and get out but now they re bogged down. There will be more layoffs, cuts and outsourcing trying to make some short term fixes.
Fuji makes the majority of the Xerox equipment. What Xerox does make is now old technology that’s in dire need of a refresh. The contract between Xerox and Fuji basically gives Fuji exclusive rights to sell in the Asia Pacific region and Xerox the rights to sell in the rest of the world. Icahn has already said that he doesn’t want to renew the contract with Fuji. That would open up the market outside of Asia Pacific to Fuji. They already have the equipment. If Xerox sales, distribution, service, & marketing are gutted and the order to collection is a mess (which it will be based on past outsourcing results) why would Fuji be interested any more.
I agree with Eyes Open and Icahn also brought in his own EVP General Counsel from Icahn Enterprises to help 'smooth' things over during this 'transformation.'
I agree with Eyes Open, but HP wouldn’t want Xerox if they did even the most basic diligence.
Icahn wants to make money. That's all he's in business for. He doesn't want to "own and manage" companies. He's a flipper. He buys things that are in distress and/or undervalued, puts a new coat of paint on them, and flips them for a profit. That's all he does, and has done for decades.
Icahn hired John V as a consultant during the proxy fight with Fuji and subsequently got him into the CEO role. John V was EVP/GM at HP for their Enterprise Services division (HPE). Visentin then brought in Steve Bandrowczak and Mary McHugh, both of whom also worked at HPE. So the top layers at Xerox are HPE veterans. Coincidence?
Icahn's plan is to shape Xerox into a mold that's more appealing to HP, using resources that know how HP works and what they like and want, in order to make Xerox an attractive acquisition or takeover target for HP.
Icahn is smart enough to hedge his bets. He knows Fuji can see everything that's playing out on the chess board (potential takeover by HP) so Icahn's hedge is that this scares Fuji enough to make them increase their offer/contract to absorb Xerox before they loose everything, netting Icahn more money.
Xerox will end up merging with Fuji or HP.
tech powerhouse! Powered by JAVA
The reason I need 6 different buggy apps (with no feedback option) to accomplish one task is because it was all outsourced.
Trying looking up an edoc part. IE crashes. Call IT, they tell me its always crashed and no fix.
Try looking up a BSD diagram, it opens the wrong one. Have to restart IE for it to pull correct one.
The above issues have affected every technician now for 10+ years.
Try calling up IT for any app that doesn't work. Ticket opened and closed with IT (already outsourced) telling me to contact person X. Try to reach person X and get an ooo saying they have "retired" with their manager not knowing anything about that tool or taking ownership of issue.
CSE web browser starts with old hub page (error 404) that we cannot change. How many years has that website been retired? Half our links give a bad gateway on the phone or have been retired
Our rebuilt parts come in broken. Our IOT hardware on A3 is 40 years old and they just keep recycling horrible designs into the next generation into that MFP while making subtle changes like turning metal bushings into plastic so they are even more unreliable and sticking a buggy ipad on the front of it.
Direct looses customers out the backdoor. For good reason! Do you think SMB wants to talk to the Philippians/India/Guatemala for a billing issue? They will drop Xerox and go with whatever dealer that operates locally. That dealer doesn't have a 1.6 employee to manager ratio. You'd think with so many managers problems would be fixed, but I've never seen such a lack of ownership of problems as with Xerox management.
If they outsource the IT governance it will reveal how little Nathansan understood. Outsourced IT providers are the #1 reason the app portfolio hasn’t shrunk. Those providers deem everything either critical or a prerequisite. Neither is true but they want their money. Outsourcing the governance of that gives them complete control.
I've seen the slides. The real estate reduction is called Project Own It. I suspect the outsourcing has the same name. I suspect it was a name created as a cover for the "optimization".
If there is a Project Own It, who knows about it other than what we hear publicly? I encourage everyone to ask their management for insight, starting with “what is it?”.
Seems obvious that they were certain the company would be sold by now and are now steuggling to drag it along. Oh sh-- we need a strategy. Deason said we'd sell this thing in 90 days. Now what.
Don’t you realize that we’re already a powerhouse? A BS powerhouse thanks to Johnny Vaseline!
I agree. I felt like I had lost 45 minutes of my life I will never get back. Lots of hocus pocus to try and keep investors placated.
Cutting cost =Tech Powerhouse.
Nothing I’ve seen from any of the recent webcast indicate that we are headed for success. They are no concrete details about anything like “Project Own It” or, like you said, becoming a tech powerhouse. I think all this dog and pony stuff is to look good for investors while they cut cost, real estate and eventually, people. If you notice, they never talk about the employees. It’s all financial stuff. Their actions indicate their ONLY priority is looking good financially. That’s is.
For some reason, people at my company seem to think there’s a light at the end of this tunnel. I just don’t see it.
Make You Think
From experience with other companies I worked for, after pep talk like that comes layoff.