Michael Capellas
Michael Capellas
Michael David Capellasis an American executive in the computer and telecommunication industries. Capellas served as chairman and CEO of First Data Corporation, acting CEO of Serena Software, chairman and CEO of Compaq Computer Corporation until its merger with Hewlett-Packard where he became president of the post-merger company briefly, and president and CEO of WorldComwhere he led its merger with Verizon...
chapter cost delivering emerge later progress protection reduction remain solid track work
We still have a lot of work to do, but we are delivering on our 100-day plan, ... We are making solid progress on our cost reduction initiatives, and we are profitable. We remain on track to emerge from Chapter 11 protection later this year.
chapter confident cost difficult emerge force help overall plan reduction work
A work force reduction is always a difficult decision, but we are confident that our overall cost reduction plan will help us emerge from Chapter 11 and make us more competitive in the marketplace in the long run.
cable execution relationship step wireless
This relationship with Cable & Wireless is an important step in the execution of Compaq's strategy.
business changed intend segment understand
We understand this segment of our business has changed dramatically, and we don't intend to stand still.
ability acceptance continued despite driven enterprise market offer pleased pricing products solutions weakness
We see continued weakness in the U.S. economy, and resultant pricing pressures, ... Despite the slowdown, we are pleased with market acceptance of our enterprise products driven by our ability to offer end-to-end solutions and services.
flow fourth quarter revenue
We see significant revenue flow in the fourth quarter of this year.
demand drive fourth growth half market moderate recovery second stronger
While we did see some strengthening of the IT market in the fourth quarter, first-half growth will be moderate and pent-up demand should drive a stronger recovery in the second half of the year,
base board customer emerging financial global management service sound strong
We are emerging with a new board and management team, a sound financial position, unmatched global assets, a strong customer base and industry-leading service quality,
bubble burst existed internet march problem
The problem existed long before (the Internet bubble burst in March 2000).
arguably associated company continues past work
No one even arguably associated with the past wrongdoing continues to work at the company.
almost describe perfect
The only way to describe this is almost the perfect storm.
goes quarter quarters saying third
It goes without saying that the third quarter was one of the most challenging quarters ever for Compaq and for our industry.
clear cost deeper economic move reduction spreading structural swiftly therefore
It is now clear that the economic slowdown is spreading overseas, and we will therefore move more swiftly and go even deeper in our structural cost reduction programs,
clearly highest momentum results revenue tremendous
Our results clearly demonstrate our tremendous momentum in the marketplace. Our revenue was the highest in Compaq's history.