“Influential hedge fund manager David Einhorn has called for Microsoft Corp Chief Executive Steve Ballmer to step down, saying the world’s largest software company’s long-time leader is stuck in the past,” Bill Rigby, Svea Herbst and Edwin Chan report for Reuters.
MacDailyNews Take: Aw, crap.
“Many have been privately critical of Ballmer, but Einhorn’s remarks are the most pointed yet from a high-profile investor,” Rigby, Herbst and Chan report. “Speaking at the annual Ira Sohn Investment Research Conference in New York on Wednesday, Einhorn said it was time for Ballmer — who succeeded co-founder Bill Gates in 2000 — to step aside and ‘give someone else a chance. His continued presence is the biggest overhang on Microsoft’s stock,’ he said.”
MacDailyNews Take: Oh, puleeze. Look at McDonald’s. They’re doing just fine with a clown as their spokesman.
Rigby, Herbst and Chan report, “On Tuesday, Microsoft was overtaken by IBM in market value for the first time in 15 years, chiefly because of its static shares. Apple roared past it last year to become the world’s most valuable tech company. An investor who put $100,000 into Microsoft stock 10 years ago would now have about $69,000 worth.”
MacDailyNews Take: Ouch. An investor who put $100,000 into Apple stock 10 years ago would now have about $2,956,000 worth. But, but, but that doesn’t mean that Ballmer has to go!
Rigby, Herbst and Chan report, “Einhorn, the president of Greenlight Capital, which had $7.8 billion of assets as of January 1, first rose to prominence for making a prescient call on Lehman Brothers’ accounting troubles before the bank’s subsequent collapse.”
Read more in the full article here.
MacDailyNews Take: It’s pretty early here on the east coast, but, after this news, one of our most favorite toasts is definitely in order now: “May Steve Ballmer remain Microsoft CEO for as long as it takes!” Hoist!
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]
No, MANGO errrr Ballmer must stay no matter what!
Ballmer is perfectly suited for the MSFT CEO position.
I’m sure Ballmer recognises that his only shortcomings have been not enough motivational on-stage dancing and chanting.
Next quarter, look for a lot more Bouncing Ballmer, coupled with word repetitions, clapping, and increased sweating, and then watch Microsoft’s shares soar.
SOAR, I tell you!
We’ve long toasted “as long as it takes” but we’ve never defined “it”.
Apple has passed Microsoft in market cap, revenue and profit. PC sales are flat/declining and Mac sales are on a steep climb, MS is paying Nokia to build Windows phones and they have no tablet presence. I think we’ve reached “it” already.
I’d like monkey boy to stick around many more years but his time as CEO is now numbered, he will be out by thanksgiving.
The McDonald’s line was BRILLIANT !!!! Made me spit out my Big Mac.
“It” is the shuddering shuttering of M$. Closed down. No more mutant PCs running Windows. Ballmer needs to stay until all his kids have graduated from college!
HOIST !!!
I’m not afraid. MicroSoft doofusses are so far out of touch they’ll simply hire someone equally as dull as Ballmer. If history is any guide they’ll start amid a ton of hype and promises but ultimately tank the company within five years. Investors will look back and cry, “Wha happen?”
I wonder if Ballmer has invested in Apple?